Wearable Injectors Market Size, Share & Trends Analysis Report By Type (On-body, Off-body), By Technology (Spring-based, Motor-driven, Rotary Pump, Expanding Battery, Other), By End Use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global wearable injectors market size was valued at USD 6.66 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.29% from 2022 to 2030. The main market-driving factors are the prevalence of chronic illnesses, rising geriatric population, and growing concern over needle stick injuries. Additionally, the desire to reduce healthcare expenditures and the rising demand for continuous monitoring are anticipated to promote market expansion. Additionally, it is expected that rising demand for home-based treatment will accelerate market expansion.

Additionally, strong healthcare infrastructure and an increase in the prevalence of lifestyle disorders are some of the factors driving market expansion. However, it is projected that low demand in developing economies and expensive wearable injector costs is anticipated to restrain the market's expansion.

The COVID-19 pandemic has boosted the demand for medical equipment and supplies including wearable injectors. Additionally, market participants are engaging in a number of projects that may help the market growth during the forecast period. Therefore, COVID-19 has had a favorable impact on the global wearable injectors market. To stop the spread of the sickness, the pandemic has encouraged the entire healthcare system to switch to home-based therapies. Additionally, considering the nature of requirements, the companies are focusing on the development and manufacturing of wearable injectors.      

Currently, among healthcare workers, needle stick injuries (NSIs) constitute the main occupational danger. Nearly two million of the 35 million healthcare professionals worldwide are exposed to occupational injuries each year, according to the World Health Organization. The danger of developing infectious diseases including HIV, hepatitis B, and hepatitis C is increased by needle stick injuries.

Additionally, reports from the Centers for Disease Control and Prevention (CDC) and European Agency for Safety and Health at Work (EU-OSHA) indicate that among healthcare workers in the U.S. & Europe, there are about 3, 85,000 & 1,000,000 needle stick injuries, respectively. Additionally, according to the World Health Organization, NSIs result in 16,000, 66,000, and 1,000 instances of HCV, HBV, and HIV among HCWs annually.

With advanced injector technology, the patient is never in contact with a needle. After attaching the injector and pressing the button, the needle is inserted. The patient is alerted with tactile, audible, and visual indications as soon as the medicine is released ,and the needle automatically retracts and locks out, permitting safe and convenient disposal of the device. With the use of wearable injectors, there would be no needle stick injuries as compared to intravenous injectable and parenteral administration.

By eliminating the dangers associated with traditional infusion and injection technology, such as drug preparation, needle insertion, covering, and disposal of needles, wearable injectors increase patient and healthcare worker safety.

However, increase in healthcare expenditure is one of the main issue facing both developing and developed nations. These nations struggle to produce high-quality, affordable healthcare. Patients can self-administer wearable injectors subcutaneously at home with the aid of wearable injectors. This is anticipated to lower the frequency of trips to hospitals or other healthcare facilities, lowering healthcare costs.

Type Insights

The on-body wearable injectors accounted for the largest revenue share of 55.16% in 2021 owing to increased demand as these patches are comfortable to wear on the skin (stomach). They are also water resistant and convenient to use at home. The benefits associated with on-body wearable injectors are:

• Decrease in healthcare costs (decrease in the number of hospitals visits)

• Lifecycle management (intravenous to subcutaneous)

• Changes in dosage frequency

• Flexible dosing

• Automatic warming of refrigerated drug

The off-body wearable injectors are expected to expand at the highest CAGR of 15.8% during the forecast period as these devices eliminate risks, such as painful removal of devices, adhesive fitting issues to the skin, and skin sensitivity or irritation. The rising investments in the development of enhanced off-body injectors are expected to drive the growth of this segment in the future.

Technology Insights

Spring-based wearable injectors segment held largest share of 35.91% in 2021. The market dominance is due to the user-friendliness and ability for the patients to precisely distribute the medication subcutaneously by pushing one or more buttons on the device, the spring-based sector is predicted to dominate the market. A study found that the spring-based wearable Subcuject injector delivers a 3 mL, 1 cP viscous dosage accurately in 4 minutes. The rotary pump wearable injectors segment is expected to grow at the fastest CAGR of 15.47% during the forecast period due to the increasing customer demand for these devices as they are more convenient for use, as compared to others.

Application Insights

Oncology held the largest share of 29.49% in2021. The oncology segment is likely to dominate the market owing to rising prevalence of cancer coupled with increasing shift toward self-administration of medication among patients. The Canadian Cancer Society estimates that approximately 7% of Canadian males will get lung and bronchus cancer, and approximately 5% will pass away from it. Due to the rising incidence of cancer and the tendency toward patients self-administering medication is rising.

Moreover, technological advancements and availability of wearable injectors for the treatment of such diseases is driving the market growth during the projection period. Furthermore, autoimmune disease segment is anticipated to expand at a fastest CAGR of 15.45% during the forecast period. Growing need for advanced drug delivery is one of the major factors driving  growth of the global wearable injectors market.

End-Use Insights

Home care segment has led the wearable injectors market in 2021 with a share of almost 41.8%. The market is growing due to rising demand for the home-based healthcare and requirement of advanced drug delivery devices requiring minimal expertise, and lesser hospitalization of the patients is expected to fuel the demand for wearable injectors globally.  Furthermore, the low cost of wearable injectors and the rising demand to cut healthcare expenses is expected to drive the home care segment. Moreover, wearable injectors cost around USD 20 and USD 30, while infusion therapy ranges from USD 200 to USD 1,000 or more, according to a study. The cost of hospital therapy is a major factor in the home care market's expansion. Hospitals segment is expected to expand at a fastest CAGR of 15.35 % owing to rising prevalence of chronic disorders and increased footfall of patients in the hospitals for treatment.

Regional Insights

North America accounted for USD 2,212.6 million in 2021 and it is expanding at a CAGR of 15.21% during the forecast period owing to rising prevalence of chronic diseases & lifestyle-related diseases and the presence of sophisticated healthcare infrastructure. In addition, local presence of major market players in the U.S., such as Becton, Dickinson and Company; Johnson & Johnson Services, Inc.; Unilife Corporation; Steady Med Therapeutics, Inc.; Amgen, Inc.; and Enable Injections, is expected to boost the market.

Asia Pacific is expected to register higher CAGR of around 15.57 % during the forecast period as compared to other regions, which can be attributed to favorable government initiatives for the use of medical devices such as wearable injectors, increasing geriatric population, and increasing healthcare expenditure in this region.

Key Companies & Market Share Insights

The market is fragmented with high competition at global level as it has the presence of major key players such as Becton, Dickinson and Company, Johnson & Johnson Services, Inc. F. Hoffmann-La Roche Ltd., etc. These players focus on growth strategies, such as new product launches, collaborations, partnerships, operational expansion, mergers & acquisitions, and patient awareness campaigns.

Moreover, many biopharmaceutical companies have been looking for a better mode of drug delivery for their portfolio of biologic drugs, for which wearable injectors are an appropriate solution. For instance, in April 2021, Medtronic plc presented the first and only infusion set, the Medtronic Extended infusion set that can be worn for up to 7 days. An infusion set is the tubing that transfers insulin from the pump to the body. Furthermore, in February 2020, BD announced that it has completed the human clinical trial of its BD Libertas Wearable Injector with 50 subjects. Some of the prominent players in the global wearable injectors market include:

• Becton, Dickinson and Company

• Johnson & Johnson Services, Inc.

• F. Hoffmann-La Roche Ltd.

• Unilife Corporation

• Steady Med Therapeutics, Inc.

• Amgen Inc.

• Insulet Corporation

• Enable Injections

• West Pharmaceutical Services, Inc.

• CeQur SA

Wearable Injectors Market Report Scope

Global Wearable Injectors Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global wearable injectors market report based on the type, technology, application, end-use, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • On-body

  • Off-body

• Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Spring-based

  • Motor-driven

  • Rotary Pump

  • Expanding Battery

  • Other

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Oncology

  • Infectious Disease

  • Cardiovascular Disease

  • Autoimmune Disease

  • Immunodeficiency

  • Other

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Clinics

  • Home Care

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE