Wearable Injectors Market Size is Projected To be Around $14 Billion By 2025
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A research study titled, Wearable Injectors Market by Technology, Type, Application and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the wearable injectors market is projected to be around $14 billion by 2025.
Wearable injectors are also known as large volume injector which helps in administering large volumes of drug via subcutaneous route. They are faster means of drug delivery and are self-administered. Wearable injectors provide reduced dosing frequency and improve safety, efficacy, convenience and tolerability. Wearable injectors are connected to body with an infusion set or directly attached to the skin. It is necessary to consider physiology of skin before attaching the wearable injectors to the skin. They also avoid systemic effects such as headache, fever and nausea. Wearable injectors are gaining importance as they are prefilled and fully disposable. They also offer easy adherence to skin. They are generally used to deliver in 2-10 ml dose volumes. Wearable injectors reduce the necessity to visit the hospital. Wearable injectors offer convenience of usage and improved patient compliance. Wearable injectors are used in treatment of cardiovascular diseases, infectious diseases, and autoimmune disorder, cancer and blood disorders. Wearable injectors are of two types, namely, off-body worn belt injector and body-worn patch injector. In off-body worn belt injector, an adhesive is used to connect the device with the skin of patient. Off-body worn belt injector can be used to deliver volumes up to 20 ml. Body-worn patch injector uses a needle which automatically injects and retracts. It can be used to deliver volumes above 20 ml.
The major driver for the growth of global wearable injectors market is the advancements in the technology such as wearable injectors integrated with Bluetooth. With the help of this technological advancement, patients can get injection reminders and data regarding their therapy regime. Another factor driving this market is the benefit of wearable injectors such as large volume dose administration and requirement of subcutaneous injection over conventional injectors. Moreover, increasing prevalence of cancer will also fuel the growth of this market. For instance, according to American Cancer Society, in U.S., about 14.5 million people were suffering from cancer. Furthermore, increase in the biologics market is set to drive the market.
The key strategy followed by the major players in the market is collaborations to gain more share. For instance, in October 2014, Unilife Corporation signed a Master Services and Commercial Supply Agreement with Sanofi and became the sole provider of cartridge-based wearable injector systems for Sanofi’s large dosage volume drugs for a minimum period of 15 years except for insulin. This agreement helped Unilife to expand the reach of its wearable injectors to new global markets. Some of major players operating in the global wearable injectors market are, Amgen Inc., Enable Injections, Inc., Insulet Corporation, West Pharmaceutical Services, Inc., Becton, Dickinson and Company, Ypsomed AG, Unilife Corporation and Sensile Medical AG.
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Key Findings of the Research Study:
- In terms of applications of wearable injectors, the cancer segment is expected to hold a significant share of the global wearable injectors market during the forecast period owing to increasing prevalence of cancer around the world.
- Home care segment held the largest market share with respect to end users in 2016 owing to the ease and convenience of using wearable injectors in home care settings, reducing the need to frequently visit the hospitals for drug administration.
- The key players operating in the wearable injectors market focus on strategic collaborations and agreements in order to strengthen their product portfolio and expand their market presence.
- North America dominated the global market in 2016 due to availability of robust healthcare infrastructure in the region, rising demand for self-injection systems and rapid adoption of technologically advanced wearable injectors.