- An increase in a number of needle stick injuries and technological advancements are expected to propel market growth.
- The preference for alternative routes of drug delivery such as pens & auto-injectors is expected to restrain the growth of wearable injectors market.
- Asia Pacific is estimated to be the fastest growing region.
The growing popularity of targeted therapies, favorable reimbursement, and technological advancements in wearable injectors are expected to drive the growth of the wearable injectors market. Additionally, an increase in the incidence of cancer and diabetes, and the adoption of advanced technological products are boosting market growth.
Moreover, the increase in a number of needle stick injuries and technological advancements are expected to propel market growth. The Global Wearable Injectors Market was valued $860 Mn in 2017 and is expected to reach $1842 Mn by 2026, at a CAGR of 9.99% during a forecast period.
The wearable injectors market is segmented into type, technology, application, end user, usage, and region.
The wearable injectors market based on type includes body-worn patch injectors, off-body worn belt injectors, and others. Wearable injectors market in terms of technology is classified into the spring-based, motor-driven, rotary pump, expanding battery, and other. Based on the wearable injectors market, application segment is divided into oncology, infectious disease, cardiovascular disease, autoimmune disease, and other. In terms of end-user segment wearable injectors market is categorized into hospital, clinic, home care, and other. Further, wearable injectors market based on usage includes disposable and semi-reusable.
Based on regions, the global wearable injectors market is divided into five main regions: America, Europe, Asia-pacific, Latin America and Middle East & Africa.
Based on the type, the body-worn patch injector segment is expected to dominate the market owing to increased demand, as these patches are comfortable to wear on the skin as well as they are also water resistant and convenient to use at home. The off body-worn injectors are applied to the body with the help of belts while the body worn patch injectors come with a glue which sticks to the body.
In terms of technology, the motor-driven segment is expected to register comparatively higher CAGR over the forecast period, due to increasing customer demand for these devices as they are more convenient for use, as compared to others.
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The preference for alternative routes of drug delivery such as pens & auto-injectors is expected to restrain the growth of wearable injectors market. Additionally, increased healthcare cost and lack of awareness about advanced medical facilities limit the growth of the wearable injectors market.
Among the regions, The Asia Pacific region is estimated to be the fastest growing region as compared to other regions, owing to the rising geriatric population coupled with incidences of chronic diseases and increasing awareness about the medical device such as wearable injector. Countries such as China and India are boosting the wearable injectors market in the Asia Pacific region over the forecast period.
The key players operating in global wearable injectors market are Amgen, Becton, Dickinson, and Company, Enable Injections, Insulet Corporation, Medtronic PLC, Sensile Medical, Steadymed Therapeutics, Tandem Diabetes Care, Inc., United Therapeutics Corporation, Valeritas Inc., and Ypsomed.
Global Wearable Injectors Market, by Type: Body-Worn Patch Injector, Off-Body Worn Belt Injector, Others. Global Wearable Injectors Market, by Technology: Spring-based, Motor-driven, Rotary Pump, Expanding Battery, Other. Global Wearable Injectors Market, by Application: Oncology, Infectious Disease, Cardiovascular Disease, Autoimmune Disease, Other.
Global Wearable Injectors Market by End User: Hospital, Clinic, Home Care, Other. Global Wearable Injectors Market by Usage: Disposable, Semi-Reusable. Global Wearable Injectors Market, by Region: North America, Europe, Middle East & Africa, Asia Pacific, Latin America.