Press release
Wearable Injectors Industry Is Expand at a CAGR of 13.3% to Reach USD 21.7 billion by 2031
Wearable Injectors Market
Drug delivery systems known as wearable injectors attach to the body and automatically administer patients' prescribed doses at the right moment. Wearable injectors, in contrast to insulin pumps, is a one-time use devices that are comfortably worn on the body while the medication is subcutaneously injected over a pre-programmed period of seconds or hours. They are taken out of the body and conveniently disposed after the entire dose has been injected. The concept of patient centricity and a greater emphasis on human factors in drug delivery design have encouraged the development of such devices.
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Market Trends and Drivers
A growing emphasis on the use of biologics and monoclonal antibodies (mAbs) to treat diseases such as rheumatoid arthritis, cardiovascular disease, and cancer will provide significant growth opportunities for wearable injectors, as these drugs must be administered parenterally (intravenous, subcutaneous, or intramuscular delivery). According to PhRMA (Pharmaceutical Research and Manufacturers of America), 907 biologics were in development in 2013; the number of biologic drugs in development is continuing to grow exponentially, with over 2,700 remedies in development as of mid-2017, more than tripling the 907 in development in 2013. mAb-based biotherapies account for half of the top 100 drugs and are expected to continue to dominate the pharmaceutical market.
Market Restraints and Challenges
Wearable injectors are not reimbursed in a number of developing countries. In India, for example, wearable insulin pumps are not reimbursed, and no specific guidelines for their use are provided on prescription. Patients with Type 1 diabetes in China must pay for insulin pumps and supplies out of pocket. The lack of reimbursement has a direct impact on access to and adoption of wearable injectors, and is thus expected to have a negative impact on market growth in the coming years.
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Market Segments
By Type
• On-Body
• Off-Body
By Technology
• Spring-based
• Motor Driven
• Rotary Pump
• Expanding Battery
Major Players in the Global Wearable Injectors Market
The key players in the market are Ypsomed (Switzerland), Amgen (US), Subcuject (Denmark), Enable Injections (US), Medtronic plc (Ireland), Insulet Corporation (US), United Therapeutics Corp. (US), CeQur SA (Switzerland), Sensile Medical (Switzerland), ATS Automation (Canada), West Pharmaceutical Services, Inc. (US), Tandem Diabetes Care (US), Sonceboz (Switzerland), Noble (US), Elcam Drug Delivery Devices (Israel), Bespak Europe Ltd. (UK), Stevanato Group (Italy), Sorrel Medical (Israel), Weibel CDS AG (Switzerland), and Neuma (US) among others.
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