Wearable Injectors Market Size Analysis, Growth, and COVID-19 Impact Till 2030
Regional Analysis
The market in the Americas is expected to dominate the global wearable injectors Market during the forecast period owing to the presence of well-established healthcare infrastructure and advanced technologies to administer drugs for the treatment of chronic diseases like diabetes. According to the National Diabetes Statistics Report 2020, an estimated 30.3 million people of all ages had diabetes in the US in 2020. The European market is expected to be the second-largest due to the growing medical devices industry in France, Germany & the UK and the rising opportunities for the market players. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to favorable government initiatives for the medical devices industry. The market in the Middle East & Africa is likely to account for the smallest share of the global wearable injectors market. The market growth in this region can be attributed to the rising research and development activities in the region.
Market Highlights
The global wearable injectors market is projected to reach USD 21.98 billion by 2030 at a CAGR of 15.2%.
Wearable injectors are drug delivery instruments for convenient administration of viscous drugs. They are also known as bolus injectors or patch pumps. Wearable injectors are used to subcutaneously administer insulin and other drugs that require large dose volumes and extended delivery period. The increasing prevalence of various chronic diseases, rising concern for injuries caused due to needles and increasing demand for round the clock monitoring are expected to drive the growth of the market during the forecast period. Additionally, the technological advancements in wearable injectors and growing geriatric population are likely to boost the market growth. On the other hand, preference for traditional methods of drug administration and lack of skilled labor who can instruct patients about wearable injectors and its usage may hinder the growth of the market during the forecast period.
The global Wearable Injectors Market Size is currently dominated by many market players. The key players in the market are engaged in new product launches and strategic collaborations to strengthen its market position. For instance, in June 2020, SteadyMed Therapeutics, Inc. entered into a strategic agreement with Bespak Europe Ltd., a European manufacturer of medical devices, to develop and produce Trevyent. Trevyent is a wearable injector with PatchPump-based technology that works on an expanding battery to take the drug out of a flexible primary drug container.
Segmentation
The global wearable injectors market has been segmented into type, usage, mechanism of injection, therapeutic area, and end user.
The market, on the basis of type, has been segmented into on-body wearable injectors, off-body wearable injectors, and hand-held wearable injectors.
The market, by usage, has been segmented into disposable and semi-reusable.
The market, by mechanism of injection, has been segmented into spring based, motor driven, rotary pump, expanding battery, pressurized gas, and collapsible reservoir.
The market, by therapeutic area, has been segmented into oncology, infectious diseases, cardiovascular diseases, autoimmune diseases, diabetes, and others.
The market, by end-user, has been segmented into hospitals, clinics, home care, ambulatory surgery centers, and others.
Key Players
Some of the key players in the global Wearable Injectors market are West Pharmaceutical Services, Inc., Valeritas, Inc., Eli Lilly and Company, YPSOMED, Amgen Inc., Becton, Dickinson and Company (BD), CeQur SA, SteadyMed Therapeutics, Inc., BioSpace, Enable Injections, and Sensile Medical AG.
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