Wearable Injectors Market to Reach USD 23.89 Billion by 2031 | SkyQuest Technology
Wearable Injectors Market size was valued at USD 7.65 billion in 2023 to USD 23.89 billion by 2031, growing at a CAGR of 15.29% in the forecast period (2024-2031).
Westford, USA, Sept. 24, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Wearable Injectors Market will reach a value of USD 23.89 Billion by 2031, with a CAGR of 15.29% during the forecast period (2024-2031). The wearable injectors market is witnessing considerable growth owing to the mounting demand for convenient drug delivery techniques, mainly for chronic illnesses like autoimmune diseases and diabetes. These techniques offer advantages, including less need for manual injection, patient compliance, and better comfort. The market is propelled by the rising emphasis on personalized medicine, the growth of biosimilars and biologics, and technological improvements. Furthermore, innovations in drug delivery systems, growing regulatory support, and increasing healthcare costs are impacting the market growth.
Browse in-depth TOC on the “Wearable Injectors Market”
Pages – 197
Tables – 95
Figures – 76
Wearable Injectors Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 7.65 Billion |
| Estimated Value by 2031 | USD 23.89 Billion |
| Growth Rate | Poised to grow at a CAGR of 15.29% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Therapy, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Technological Improvements in Wearable Injectors |
| Key Market Drivers | Growing Concerns Over Hazards Associated with Needle Stick Injury |
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Wearable Injectors Market Segmental Analysis
The global wearable injectors market segmentation is based on type, therapy, and region.
Based on type the market is segmented into on-body and off-body.
Based on therapy the market is segmented into diabetes, cardiovascular disease, immuno-oncology, and others.
Based on region the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Progressing Homecare Market to Help Fuel On-Body Segment Growth
By type, the on-body segment registered a notable market share in 2023 and is projected to witness considerable growth over the estimated period owing to the comfort offered to patients. The segment is also projected to be driven by the progressing homecare market. In-homecare settings are actively using them due to their water-proof feature. Nonetheless, the off-body segment is anticipated to lead over the forecast period owing to the limitations of the on-body injectors. These challenges comprise issues with adhesive compatibility, contact dermatitis and irritation, and unfriendly withdrawal. This ultimately increases the use of off-body injectors, thus driving the segmental growth.
Growing Technological Improvements and Patient Compliance to Boost Diabetes Segment
By therapy, the diabetes segment held a notable market share in 2023 and is anticipated to continue dominance over the forecast period as well owing to the growing need for constant insulin delivery. Most diabetic patients benefit from automated or continuous insulin delivery systems, offered wearable injectors. Moreover, innovations like connected devices and insulin pumps that enhance management and monitoring are driving the segment’s growth. Conversely, the immuno-oncology segment is projected to be the fastest-growing segment owing to the growth of biologics in cancer therapy that demand frequent dosing and precision. Moreover, growing cancer cases and the need for patient-centric treatments are boosting the demand in immuno-oncology.
Growing Incidences of Chronic Diseases and Developed Healthcare Infrastructure to Boost Market Growth in North America
Geographically, North America is expected to lead the market in the coming years due to increasing incidences of chronic diseases and the presence of well-developed healthcare infrastructure. A large population in the region is suffering from cardiovascular diseases and diabetes, thus demanding reliable and effective drug delivery techniques. Regional growth is also impacted by the developed healthcare infrastructure and heavy investments in research and development.
Asia-Pacific is expected to be the fastest growing region owing to the increasing patient population of chronic illnesses and rising healthcare expenditure. The growing patient population for chronic illnesses like cardiovascular diseases, diabetes, and cancer in the region is increasing the demand for efficient drug delivery technologies. Private sectors and governments are investing heavily in healthcare technology and infrastructure that streamlines the use of modernized medical instruments, thus impacting the market growth in the region.
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Wearable Injectors Market Insight
Drivers:
- Growing Cases of Chronic Illnesses
- Improved Patient Compliance
- Increasing Demand for Biologics
Restraints:
- Significantly Priced Production and Purchase
- Low Awareness in Remote Areas
- Intensified Market Competition of Conventional Injection Techniques
Prominent Players in Wearable Injectors Market
- Ypsomed
- Amgen
- Subcuject (Denmark)
- Becton, Dickinson and Company (BD)
- Bespak Europe Ltd.
- CeQur SA
- Debiotech SA
- Enable Injections
- Insulet Corporation
- Medtronic plc
- Mylan N.V.
- Nemera Development S.A.
- Omron Corporation
- Pfizer Inc.
- Roche Holding AG
- Sensile Medical AG
- SteadyMed Therapeutics, Inc.
- Tandem Diabetes Care, Inc.
- United Therapeutics Corporation
- West Pharmaceutical Services, Inc.
- Zosano Pharma Corporation
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Key Questions Answered in Global Wearable Injectors Market Report
- What is the growth rate of wearable injectors market as per SkyQuest?
- Which region registered maximum share of the global wearable injectors market?
- Who are the leading key players profiled in the wearable injectors market?
This report provides the following insights:
Analysis of key drivers (increasing comfort and convenience, rise of home healthcare, increasing focus on personalized medicine), restraints (growing complexity of use, data privacy issues, interoperability issues), opportunities (growing biologics market, rising integration of digital health, growing sustainability initiatives), and challenges (technical reliability, short battery life of wearable injectors, strong market competition) influencing the growth of wearable injectors market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the wearable injectors market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the wearable injectors market
- Market Development: Comprehensive information on lucrative emerging region
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.
