Wearable Injectors Market Trends, Share and Global Size - 2027

The wearable injectors market size is projected to reach US$ 13,880.88 million by 2027 from US$ 5,791.23 million in 2019. It is expected to register a CAGR of 11.6% from 2020 to 2027.

Market Insights and Analyst Perspective:

Wearable injection systems are drug-delivery devices that adhere to the body and automatically deliver set doses to the patient at optimal times. Prefilled syringes and autoinjectors deliver the drugs to patients in less than 20 seconds. However, insulin pumps are expensive and complicated for periodic fixed-volume drug delivery. Wearable injection systems are designed to fill both gaps, enabling comfortable, low-profile delivery of precisely dosed medications over fixed or variable periods. As wearable injection systems have emerged in response to these conditions, so has a new set of challenges regarding device design and testing. The rising prevalence of chronic diseases and new product launches drive the wearable injectors market growth. With the growing pervasiveness of diabetes, the increasing awareness of the disease and the associated treatment using wearable injectors are also fueling the growth of the wearable injectors market.

Additionally, government initiatives provide better and more affordable treatments and favorable reimbursement policies, expected to boost the wearable injectors market growth. Furthermore, the wearable injectors market key players are focusing on strategic initiatives by launching new products to expand their geographic reach and enhance capacities to cater to a large customer base. For instance, in January 2020, Tandem Diabetes Care, Inc. launched its t:slim X2 insulin pump with Control-IQ technology commercially in the U.S. market. The t:slim X2 insulin pump device operates on the Control-IQ technology. It uses CGM values and other variables, such as Insulin on board, to predict sensor glucose levels 30 minutes ahead and regulates insulin delivery accordingly.

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Wearable Injectors Market: Strategic Insights

Market Size Value in	US$ 5,791.23 million in 2019
Market Size Value by	US$ 13,880.88 million by 2027
Growth rate	CAGR of 11.6% from 2020 to 2027
Forecast Period	2020-2027
Base Year	2019

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Market scope and segmentation:

The “Global wearable injectors market” is a specialized and in-depth study focusing on market trends and growth opportunities. The report aims to provide an overview of the wearable injectors market with detailed market segmentation by type, application, end-user, and geography. Per the report's scope, the wearable injectors market is bifurcated into on-body and off-body injectors by product. Based on applications, the market is differentiated into oncology, diabetes, autoimmune disease, cardiovascular disease, and other applications. The wearable injectors market is segmented into homecare settings, hospitals and clinics, and others based on end-user. The wearable injectors market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, U.K., and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, U.A.E., and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

The report evaluates market dynamics during the forecast period, i.e., drivers, restraints, opportunities, and future trends in the global wearable market injectors market. The report also provides an exhaustive PEST analysis for all five regions: North America, Europe, APAC, MEA, and South & Central America, after evaluating political, economic, social, and technological factors affecting the market in these regions.

Factors such as the increasing prevalence of chronic diseases, rising technological advancements and design development are driving the growth of the global wearable injector market. Also, the limitations of conventional drug delivery systems is also driving market. Wearable injectors are subcutaneous drug delivery systems that adhere to the body and administer larger volumes (more than 2 mL) of the drug over an extended period. With wearable injectors, needle stick injuries can be avoided that are caused during parenteral drug administration using injections. Large-volume wearable injectors are rapidly gaining prominence in the market due to their capabilities to deliver a high volume of viscous formulations. The administration of pharmaceuticals via intravenous (IV) infusion is expensive in healthcare settings. Self-administration of subcutaneous injections is expected to save 30–70% of costs.

Moreover, administration through conventional methods poses risks such as inaccurate dosage and needle stick injuries. Therefore, wearable injectors make them desirable for treating chronic diseases where long-term treatment is necessary. Chronic diseases, such as diabetes, cardiovascular disorders, neurological disorders, autoimmune disorders, and various types of cancer, are the leading causes of death and disability worldwide. Per the data published by the Centers for Disease Control and Prevention (CDC) in 2023, 6 out of 10 people in the U.S. suffered from at least one chronic disease, such as heart disease and stroke, cancer, or diabetes. According to the International Diabetes Federation (IDF), 537 million people worldwide, aged 20–79, had diabetes in 2021, and the number is estimated to rise to 783 million by 2045. In diabetes patients, exogenous Insulin is usually administered through a subcutaneous route of administration for diabetes management. The wearable injector is an ideal drug delivery method for painless and accurate insulin dosages. Hence, the adoption of wearable injectors is likely to increase, which, in turn, propels the wearable injectors market growth. However, the lack of adoption of wearable injection as a drug delivery system in emerging countries is restraining the market’s growth.

Segmental Analysis:

The wearable injectors market is bifurcated based on the type into on-body and off-body injectors. The on-body injectors segment accounted for the largest wearable injectors market share in 2019. On-body injectors offer benefits like comfort, water resistance, flexible dosing, and automatic warming of refrigerated drugs and are easy to use. These benefits have increased the demand for on-body injectors. In comparison, the off-body injectors segment is growing fast at a CAGR of 12.3% during the forecast period.

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Based on application, the wearable injectors market is segmented into oncology, diabetes, autoimmune diseases, cardiovascular disease, and other applications. The oncology segment held the largest wearable injectors market share in 2019. However, the autoimmune disease segment is estimated to register the highest CAGR in the wearable injectors market during the forecast period. Cancer includes various diseases resulting from the unregulated growth of malignant cells. Cancer is one of the significant health problems with a high mortality rate. Wearable injectors are witnessing a considerable increase in their adoption across the healthcare industry due to their benefits, such as reducing disease progression and pain in cancer patients. The on-body injector is placed on the stomach or the back of the arm. A healthcare professional applies it on the last day of the chemotherapy cycle. Therefore, the rise in the prevalence of cancer is one of the primary drivers for the segment's growth. Based on end-user, the market is broken down into homecare settings, hospitals and clinics, and others. The homecare setting segment led the market in 2019 with the highest market share and is expected to retain its highest share during the forecast period. The home care segment is anticipated to dominate due to the growing inclination for self-administration of medicine and the rising need to decrease healthcare costs. The hospital serves a significant role by providing extensive medical services to patients suffering from various diseases. This increased the adoption of drug delivery systems in hospitals and clinics. This and the growing number of hospital admissions will drive the segment's growth. Growth of hospitals and clinics is projected to be 12.2% during the forecast period. The other end-users of wearable injectors worldwide are ambulatory surgical centers, nursing homes, diagnostics centers, and other medical centers using drug delivery devices.

Regional Analysis:

The report provides a detailed overview of the global wearable injectors market, including qualitative and quantitative information. It provides an overview and forecast of the global wearable injectors market estimating from 2019 to 2027 concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The wearable injectors market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally and the current trend and opportunities prevailing in the region.

North America is the dominating region in the wearable injectors market. The North American wearable injectors market is expected to grow at a CAGR of 11.9% during the forecast period. The North American wearable injectors market is analyzed based on the US, Canada, and Mexico regions. The rising prevalence of chronic diseases like cancer, diabetes, oncology, cardiovascular diseases, and others characterizes the growth of the North American market. Along with the development of innovative products and the presence of key market players in the region. In addition, the increasing prevalence of diabetes in the U.S. is likely to fuel the wearable injector market growth in the country. In 2021, the National Diabetes Statistics report presented by the Centers for Disease Control and Prevention (CDC) stated that nearly 37.3 million people in the U.S. had diabetes, of which type 1 diabetes patients are ~1.45 million. The growing prevalence of cancer is expected to raise the demand for wearable injectors in North America. For instance, as per the American Cancer Society, ~1.9 million new cancer cases were detected in 2022. Breast cancer, prostate cancer, and melanoma cancer are among the common types of cancer in the country. In addition, technological advancements for treating diseases are likely to be a major growth stimulator for the wearable injectors market in North America. For instance, In June 2018, Tandem Diabetes Care, Inc., a manufacturer of touchscreen insulin pumps in the U.S., received U.S. Food and Drug Administration (FDA) approval of the t:slim X2 Insulin Pump. This pump has Basal-IQ technology with predictive low glucose, suspend (PLGS) feature helpful in reducing the frequency and duration of low glucose events (hypoglycemia).

Asia Pacific is the fastest-growing wearable injectors market among all the regions. The CAGR of the Asia-Pacific region during the projected forecast is 12.4%. China, India, and Japan are three major contributors to the market's growth. These countries drives growth by the rise in the geriatric population, the increasing prevalence of chronic diseases, and research in the field of wearable medical devices. Additionally, supportive government initiatives and investments by international market players fuel the growth of the market.

Key Player Analysis:

The report covers key global wearable injectors market developments as organic and inorganic growth strategies. Global wearable injectors market players are anticipated to have lucrative growth opportunities. The wearable injectors market analysis consists of the players such as Amgen, Inc., Medtronic, BD, Insulet Corporation, Gerresheimer AG (Sensile Medical), West Pharmaceutical Services, Inc., Ypsomed AG, Tandem Diabetes Care, Inc., CeQur SA, Debiotech S.A, Zealand Pharma A/S, Elcam Medical. Due to their diversified product portfolio, Amgen Inc and Medtronic are the top two players in the wearable injectors market.

Recent Developments:

Companies in the wearable injectors market highly adopt inorganic and organic strategies such as mergers and acquisitions. A few recent key market developments are listed below:

1. In November 2022, Medtronic launched the Medtronic Extended infusion set, the first and only labeled for up to 7-day wear. This innovation is estimated to save Insulin up to 25% due to a reduced number of infusion set and reservoir changes and plastic waste reduction of up to 50%.
2. In December 2020, B.D. Libertas Wearable Injector cleared 52-subject human clinical trial. The injector is a subcutaneous drug delivery system designed to require no patient assembly and deliver biologics with viscosities up to 50 cP in 2-5 mL and 5-10 mL configurations.
3. In April 2020, Zealand Pharma A/S acquired all Valeritas Holdings, Inc. assets for a cash purchase of about US$ 23 million. This acquisition has helped to extend its business from its existing pharmaceutical business.
4. In January 2020, Tandem Diabetes Care launched the t:slim X2 Insulin Pump with Control-IQ Technology in the U.S.
5. In September 2019, Insulet Corporation received clearance from the U.S. FDA for its Alternate Controller Enabled Infusion Pump. This approval has allowed the company to market its Omni pod DASH Insulin Management System as an integrated insulin pump.