Wearable Injectors Market Growing At CAGR Of 18.11% From 2024 To 2030

Wearable Injectors Industry Overview

The global wearable injectors market size was estimated at USD 8.80 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 18.11% from 2024 to 2030.

The key factors driving the market include the prevalence of chronic illnesses, the rising geriatric population, and growing concern over needle stick injuries. In comparison to other medication delivery methods, wearable injectors are less expensive. Additionally, the desire to reduce healthcare expenditures and the rising demand for continuous monitoring and home-based treatment are anticipated to boost the demand for wearable injectors.

Gather more insights about the market drivers, restrains and growth of the Wearable Injectors Market

Strong healthcare infrastructure and an increase in lifestyle disorders are some of the factors driving market expansion. However, it is projected that low demand in developing economies and expensive wearable injectors could restrain the market's expansion in the upcoming years. Needle stick injuries (NSIs) constitute the main occupational danger among healthcare workers. According to a WHO study published in 2021, nearly 2 million of the 35 million healthcare professionals worldwide are exposed to occupational injuries each year. The risk of developing infectious diseases including HIV, hepatitis B, and hepatitis C is increased by needle stick injuries.

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

Wearable injectors increase patient and healthcare worker safety by eliminating the dangers associated with traditional infusion and injection technology, such as drug preparation, needle insertion, covering, and disposal of needles. However, one of the biggest problems emerging and developed countries face is the rise in healthcare costs. Countries strive to provide high-quality and affordable healthcare. Patients can self-administer wearable injectors subcutaneously at home with wearable injectors. It is anticipated to lower the frequency of trips to hospitals or other healthcare facilities, lowering healthcare costs.

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Wearable Injectors Market Segmentation

Grand View Research has segmented the global wearable injectors market based on type, technology,application, end-use, and region:

Wearable Injectors Type Outlook (Revenue, USD Million, 2018 - 2030)

• On-body
• Off-body

Wearable Injectors Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Spring-based
• Motor-driven
• Rotary pump
• Expanding battery
• Other

Wearable Injectors Application Outlook (Revenue, USD Million, 2018 - 2030)

• Oncology
• Infectious disease
• Cardiovascular disease
• Autoimmune disease
• Immunodeficiency
• Others

Wearable Injectors End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Clinics
• Home care
• Others

Wearable Injectors Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Sweden
  • Norway
  • Denmark
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Kuwait

Key Companies profiled:

• BD
• Johnson & Johnson Services, Inc.
• Hoffmann-La Roche Ltd.
• Unilife Corporation
• Steady Med Therapeutics, Inc.
• Amgen Inc.
• Insulet Corporation
• Enable Injections
• West Pharmaceutical Services, Inc.
• CeQur Simplicity

Key Wearable Injectors Company Insights

The market is fragmented with high competition at the global level as it has the presence of major key players. These players focus on growth strategies, such as new product launches, collaborations, partnerships, operational expansion, mergers & acquisitions, and patient awareness campaigns. In March 2021 Aptar and Noble International announced their collaboration with dne pharma, a pioneer in Northern European addiction treatment, in March 2021, using the innovative Unidose Liquid System developed by Ventizolve, Aptar, and Noble. The collaboration aims to prevent the potentially fatal effects of opioid overdose in Europe as soon as feasible.

In addition, numerous biopharmaceutical companies are seeking a better method of drug delivery of their own biological drugs, for which wearable injectors are a suitable solution. For instance, in January 2023, Tandem Diabetes Care, Inc. announced the acquisition of AMF Medical SA, manufacturer of Sigi Patch Pump. In May 2023, Enable Injections, Inc. collaborated with Viridian Therapeutics, Inc., a U.S.-based biotechnology company.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.