Wearable Injectors Market size was valued at USD 8.63 billion in 2023 and is set to cross USD 31.98 billion by 2036, expanding at more than 10.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of wearable injectors is evaluated at USD 9.36 billion. The growing prevalence of chronic medical conditions and increasing geriatric population, along with the technological developments in drug delivery injectors globally, are expected to fuel the progress of this market in the near future. According to the data collected from Organization for Economic Co-operation & Development (OECD), in 2019, about 33% of the total population of OECD countries aged 15 years and more had two or more chronic conditions, and the number increased to 58% in persons with age more than 65 years. Moreover, the ability of wearable injectors to administer new formulations with higher volume and viscosity can significantly improve the patient experience, which in turn is expected to boost market growth in the coming years. The growth of the market can also be attributed to factors such as the continuous expansion in research for the development of biologics and favorable reimbursement policies for wearable injectors in prominent economic regions.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
10.6% |
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Base Year Market Size (2023) |
USD 8.63 billion |
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Forecast Year Market Size (2036) |
USD 31.98 billion |
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Regional Scope |
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The market is segmented on the basis of type into on-body and off-body, out of which the on-body segment is anticipated to grab the largest share by the end of 2030 on account of the increasing demand for this type of injector owing to the presence of multiple features. In addition, on-body wearable injectors are comfortable to be worn on the skin, along with their water-resistant capability and ease of use at home, which is also projected to contribute to the growth of the segment during the forecast period. Additionally, the off-body injector segment is also expected to grow significantly in the years to come as these devices reduce the problems such as adhesive fitting issues, painful removal and skin sensitivity.
Based on end-user, the home care settings segment in the wearable injectors market is projected to grow with a significant CAGR over the forecast period, which can be attributed to the surge in preference for self-administration of drugs and the rise in the development of advanced drug delivery options, which minimize the need for technical expertise while administering medications. Additionally, the restrictions posed by COVID-19 outbreak has also resulted in the rising adoption of self-administration of drugs in-home care settings, especially by the vulnerable groups such as the geriatric population, which is also expected to support the market growth.
Our in-depth analysis of the global market includes the following segments:
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Type |
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End-User |
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Geographically, the wearable injectors market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is likely to dominate majority revenue share by 2036, owing to large elderly population in many countries of the region such as China and Japan, and the increasing prevalence of chronic disorders in the region. Furthermore, the market in North America is evaluated to occupy the largest share in terms of revenue over the forecast period, ascribing to the strong presence of leading market players in the region. Along with this, North America also leads in terms of presence of strong healthcare infrastructure, which is also expected to contribute to the market growth in the region. Alternatively, the market in Europe is also anticipated to occupy a significant share in the market on account of its success in drug trials, rising cases of cancer and the increasing ageing population in the region. As per the Annals of Oncology of the European Society for Medical Oncology, the predictions for cancer-related deaths in the European Union for 2021 are 1,267,000 deaths
April 2021: Amgen Inc. announced the successful acquisition of Five Prime Therapeutics, which is aimed to enhance Amgen's proficiencies in treating metastatic gastric and gastroesophageal junction cancers in the markets with high prevalence of the diseases such as Japan, South Korea, and Latin America.
Author Credits: Radhika Pawar
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