The global wearable injectors market size is anticipated to reach USD 11.3 billion by 2025, expanding at a CAGR of 16.4%, according to a new report by Grand View Research, Inc. The market is expected to witness lucrative growth during the forecast period owing to technological advancements in wearable injectors coupled with rising demand for round-the-clock monitoring. The paradigm shift towards the self-administration of injectable is expected to drive the market during the forecast period. In addition, increasing awareness and rising adoption of wearable injectors are expected to assist in growth.
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Technological advancements in wearable injectors, such as Bluetooth integrated wearable injectors, enable sending alerts to patients, such as injection reminders, and provide patients access to data regarding their therapy regime. Also, optional smart functionality provides connectivity to the healthcare network. Some of these devices have buttons that are accessible through clothing, and others prevent accidental activation. They also have audio and visual status indicators or signals. Patients can self-administer drugs subcutaneously in less time and with minimal effort as compared to intravenous or other routes. Patients are not required to visit any healthcare provider for administration.
Prevalence of lifestyle-associated diseases, such as diabetes and hypertension, is expected to increase during the forecast period. These diseases demand round-the-clock monitoring of various physiological parameters, such as blood pressure and blood sugar levels. Thus, integration of healthcare data with wearable injectors, which gets forwarded to physicians or doctors giving them real-time access with minimal errors, is expected to boost the wearable injectors market.
Wearable Injectors Market Report Highlights
• The on-body segment held lucrative market share in 2016, owing to the growing preference of patients for adhesive patches that release the drug easily and can be worn on the skin
• The motor-driven segment is expected to register the highest growth over the forecast period owing to increasing demand from hospitals, clinics, retail chain stores, and pharmacies
• The oncology segment is expected to gain the largest market share due to increasing incidence of cancer worldwide
• North America is expected to dominate the wearable injectors market over the forecast period due to rising demand for innovative Information Technology (IT) solutions to streamline workflow and increasing regulatory requirements to ensure patient safety
• Some of the key players in the market are Becton, Dickinson and Company; Johnson & Johnson Services, Inc.; F. Hoffmann-La Roche Ltd.; Unilife Corporation; SteadyMed Therapeutics, Inc.; Amgen, Inc.; Insulet Corporation; Enable Injections; West Pharmaceutical Services, Inc.; and CeQur SA.
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Wearable Injectors Market Segmentation
Grand View Research has segmented the global wearable injectors market on the basis of type, technology, application, end use, and region:
Wearable Injectors Type Outlook (Revenue, USD Million, 2014 - 2025)
• On-body
• Off-body
Wearable Injectors Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Spring-based
• Motor-driven
• Rotary Pump
• Expanding Battery
• Other
Wearable Injectors Application Outlook (Revenue, USD Million, 2014 - 2025)
• Oncology
• Infectious Disease
• Cardiovascular Disease
• Autoimmune Disease
• Other
Wearable Injectors End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Hospital
• Clinic
• Home Care
• Other
Wearable Injectors Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o The U.S.
o Canada
• Europe
o Germany
o The U.K.
o France
• Asia Pacific
o Japan
o China
• Latin America
o Brazil
o Mexico
• The Middle East and Africa (MEA)
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities