The global wearable injector market is expected to grow at a CAGR of 12% CAGR during the forecast period of 2023 to 2030. These devices permit the injection of large volume of dosage via subcutaneous route for long duration, which offers benefits to drug developers, clinicians and patients. Most of the instances biologic therapeutics are parenteral delivery wherein high volume injection doses are often needed. Biologic therapeutics development is growing at a faster pace compared to other medication forms, this growth in the biologic market is said to in parallel drive the emergence of wearable injectors.

Cost Efficiency To Drive The Demand

The parts count in the device is low, this allows benefit of low pricing. Manufacturing cost is therefore in line with the cost of a standard prefilled, single use auto injector. Many companies are focusing on R&D activities that will enable further reduction of cost of wearable injectors. Historically delivering the small molecule drugs developed to treat conditions such as infection, hypertension, and hyperlipidemia was of little concern, as most of these medicines could be administered orally. Recent developments in biotechnology have produced a plethora of protein-based molecules (e.g. mAbs) that must be injected to achieve their therapeutic effects.

Reimbursements Remains as A Key Challenge Across Many Regions

Wearable injectors can help reduce the burden on doctors and other healthcare workers by automatically injecting the patient with the exact dose of medicine at predetermined intervals. These devices remain a temporary care solution, alleviating the need for regular visits to healthcare facilities to receive specific medicines. However, there is still a debate on the reimbursement policies for such devices. The payers yet need to acknowledge the use of such devices and how positively it effects on the patient outcomes.Wearable injectors present a robust solution to the challenge of delivering SC injections of increasing dosing volumes and viscosities in non-clinical settings. Introducing robust, innovative technologies will allow more patients to enjoy the convenience of injecting at home. In addition, the ability to accommodate new formulations with higher volume and/or viscosity will enable less-frequent injections, improve the patient experience, and potentially increase adherence to therapies.

Oncology Remains The Key Therapeutic Segment

For the purpose of this study, the global wearable injector device market is segmented on the basis of usage,  product, technology, therapeutic area & end users. Injector type is further segmented into On Body & off Body. On Body wearable injectors dominate the segment, however, off body injectors are expected to witness faster growth. Based on Usage devices are further segmented into Disposable & Reusable devices. By therapeutic area devices are segmented into oncology, diabetes, cardiovascular diseases, autoimmune disorder, infectious diseases & others. Oncology remains to be the key therapeutic segment due to higher prevalence rate. By product the market is segmented on the basis of on body and off body segment. By technology the segment is based on Motors, Batteries/Springs. Market size estimates and forecast for these segments for the period 2019 to 2029 are provided in terms of US$ Mn along with the respective compounded annual growth rates (CAGRs) for the period 2021 to 2029, considering 2020 as the base year. 

North America to Dominate The Market

North America dominated the market with a share of about 42% in 2021 owing to the rise in prevalence of chronic diseases. Change in lifestyle, high prevalence rate of immuno-oncology, diabetes and cardiovascular diseases in North America, and aggressive focus by market players to strength its supply chain therefore, making product affordable and accessible remain as the key market drivers.  Asia-Pacific was observed as one of the key markets for wearable injector devices due to the existence of massive pool of innovation and development of technology in regions such as Japan and China. In nations such as Latin America and Middle Eastern Africa, the accessibility and development of technology is still in progress, thus these nations promise significant potential during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Wearable Injector market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Wearable Injector market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Wearable Injector market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Wearable Injector market?
• Which is the largest regional market for Wearable Injector market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Wearable Injector market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Wearable Injector market worldwide?