Wearable Injectors Global Market Report 2024

The wearable injectors market size has grown rapidly in recent years. It will grow from $8.04 billion in 2023 to $9.07 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The historical growth in the healthcare market can be attributed to factors such as the management of chronic diseases, improved patient convenience, technological advancements, and the aging population.

The wearable injectors market size is expected to see rapid growth in the next few years. It will grow to $15.23 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. Looking ahead to the forecast period, the growth is expected to be driven by the adoption of personalized medicine, remote patient monitoring, advancements in drug development, and continued emphasis on chronic disease management. Notable trends in the forecast period include the increasing use of biologics and large molecules, the development of dual-chamber wearables, the integration of connected and smart devices, and the utilization of patch pump technology.

The increase in the prevalence of chronic conditions like diabetes, cardiovascular diseases, and cancers has played a significant role in the expansion of the wearable injectors market. The International Diabetes Federation reported that in 2021, there were around 537 million adults living with diabetes, and this number is projected to reach approximately 783 million by 2045. It is also anticipated that one in five adults over the age of 65 will be affected by diabetes. This surge in the diabetic and chronic disease patient population has led to a higher demand for disease treatment, thereby fueling the growth of the wearable injectors market.

These wearable injectors come in two primary types are on-body injectors and off-body injectors. On-body injectors are drug delivery devices attached directly to the patient's skin, typically on the abdomen or the back of the patient's arm. They find applications in various medical fields, including immuno-oncology, diabetes, cardiovascular diseases, among others, and are employed across a range of healthcare settings, including hospitals, clinics, and home care.

The wearable injectors market research report is one of a series of new reports that provides wearable injectors market statistics, including wearable injectors industry global market size, regional shares, competitors with a wearable injectors market share, detailed wearable injectors market segments, market trends and opportunities, and any further data you may need to thrive in the wearable injectors industry. This wearable injectors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing elderly population is expected to be a driving force behind the growth of the wearable injectors market in the future. This demographic consists of older adults, typically aged 65 and above, and wearable injectors offer them a convenient way to self-administer medications, fostering independence and adherence to treatment regimens while reducing the necessity for frequent hospital visits. For example, in October 2022, the World Health Organization reported that globally, one in six individuals would be 60 years old or older by 2030, and it is projected that there will be 2.1 billion elderly individuals by 2050. Hence, the growing geriatric population is a key driver of the wearable injectors market's expansion.

The elevated cost linked to wearable injectors is anticipated to restrict the expansion of the wearable injectors market. Wearable injectors are single-use systems designed to be comfortably worn on the body, and they typically come with a price tag ranging from $20 to $35 per unit, which is relatively high. This high cost of wearable injectors is a challenging factor that hinders the market's growth.

Many companies in the wearable injectors manufacturing market are shifting their focus towards increasing mergers and acquisitions to enhance their production capabilities. Major manufacturers are entering into joint ventures or acquiring smaller or mid-sized firms to expand their capabilities and access new markets. For instance, in February 2021, Phillips-Medisize, a US-based medical device company, partnered with Subcuject to collaborate on the development of a wearable osmotic bolus injector. This partnership aims to leverage Phillips-Medisize's expertise in proprietary device platforms and combine it with Subcuject's technology innovation and drug delivery experience to expedite the development and commercialization of the wearable osmotic bolus injector. Subcuject is a US-based medical device company specializing in subcutaneous wearable bolus injector development.

Major players in the wearable injectors market are increasingly focusing on introducing innovative medication delivery devices like the enFuse injector to enhance their revenue in the market. The enFuse injector is designed for the self-administration of high-volume drugs, offering patients comfort and convenience. For instance, in September 2023, Enable Injections, Inc., a US-based medical technology company, obtained approval from the US Food and Drug Administration (FDA) for the enFuse injector. This wearable injector is intended for the subcutaneous delivery of EMPAVELI, a medication used by adults with paroxysmal nocturnal hemoglobinuria (PNH) and marketed in the United States by Apellis Pharmaceuticals Inc. The enFuse injector is a compact, wearable device that simplifies the self-administration process with minimal disruption to patients' daily routines. It enables hands-free delivery of up to 25 mL, making it suitable for use at home or in clinical settings. The FDA approval of the enFuse injector provides patients with a more convenient way to administer their medication.

In June 2023, LTS LOHMANN Therapie-Systeme AG, a pharmaceutical company based in Germany, purchased the Sorrel wearable injection device business from Eitan Medical for an undisclosed sum. This acquisition is anticipated to broaden LTS LOHMANN Therapie-Systeme AG's range of drug delivery platforms and enhance its offerings in the areas of large molecules and biologics. Eitan Medical Ltd. is an Israeli medical device company known for its development of innovative drug delivery solutions, including wearable injectors.

Major companies operating in the wearable injectors market include Amgen Inc., Becton Dickinson and Company (BD), Enable Injections LLC, Insulet Corporation, Ypsomed Holding AG, Medtronic MiniMed Inc., Tandem Diabetes Care Inc., Valeritas Inc., West Pharmaceutical Services Inc., Sensile Medical AG, Gerresheimer AG, Dexcom Inc., Consort Medical PLC, United Therapeutics Corporation, Bühler Motor GmbH, Debiotech SA, Cellnovo Group, EoFlow Co. Ltd., CeQur SA, Haselmeier AG, Johnson & Johnson, kaleo Inc., Mylan N.V., Nemera Development S.A., F. Hoffmann-La Roche Ltd., Zosano Pharma Corporation

North America was the largest region in the wearable injectors market in 2023. Western Europe was the second-largest region in the wearable injectors market analysis. The regions covered in the wearable injectors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the wearable injectors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The wearable injectors market consists of sales of instruments such as on-body injectors and off-body injectors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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