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Wearable Injectors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 112 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5504446
The wearable injectors market studied was anticipated to grow with a CAGR of nearly 10.4% during the forecast period 2022-2027.

The wearable injectors market is significantly impacted by COVID -19. There has been an increase in demand for injection devices that can be used at home for both administration and monitoring. There are medications that are already designed for self-administration, such as those used to treat chronic diseases like diabetes, rheumatoid arthritis, and Crohn's disease, where patients use wearable injectors, safety syringes, and autoinjectors. The article titled “Role of Novel Drug Delivery Systems in Coronavirus Disease-2019 (COVID-19): Time to Act Now”, published in September 2021, shows the usage and demand for drug delivery systems and devices will boom in the near future, for the repurposing of drugs. Several other drug delivery devices and systems are likely to be launched, which may be useful in repurposing the existing drugs for the treatment of various viral diseases. The ongoing research in the implementation of drug delivery devices in COVID-19 is increasing

Certain factors that are driving the market growth include the growing prevalence of chronic diseases, technological advancements and design development, increasing concern over the hazards related to needlestick injuries, and limitations of drug delivery through a simple syringe. According to the July 2021 update by the World Health Organization, cardiovascular diseases are one of the leading cause of death around the world that including diseases like coronary heart disease, cerebrovascular disease, rheumatic heart disease, congenital heart disease, and others. As per the same source, in 2019, 17.9 million people around the world died from cardiovascular diseases, which amounted to about 32% of all global deaths.

Additionally, the Globocan 2020 report published by Global Cancer Observatory, estimated the incidence and mortality of 36 cancer in 185 countries, globally, there were an estimated 19,292,789 new cases of cancer diagnosed in 2020 and about 9,958,133 people died due to cancer, all over the world. Further, as per the same source, the number of new cancer cases are expected to reach 24,044,406 by 2030

The ability for a patient to conveniently wear a compact, disposable device on the body during the subcutaneous injection of a large dose volume may also minimize the need for less-understood technologies in development that seek to temporarily change the subcutaneous space to enable rapid injections of large dose therapies. Hence all these factors are expected to contribute to the market growth over the forecast period.

However, the various strategies adopted by the key market to launch the advanced product anticipating the market growth over the forecast period. For instance, in February 2021, Phillips-Medisize, a Molex company and leader in the design, development, and manufacturing of drug delivery, diagnostic, and MedTech devices, collaborated with Subcuject, a global innovator of proprietary device platforms, to bring a ground-breaking wearable bolus injector to market

However rising the preference of other drug delivery mode and unfavorable reimbursement structure restraint the market over the forecast period.

Key Market Trends

Oncology Segment is Expected to Hold Significant Market Share Over the Forecast Period

Wearable injectors are observing a huge increase in their adoption across the healthcare industry as cancer patients have realized the essential benefits such as a reduction in disease progression and pain. According to the September 2021 update by the World Health Organization (WHO), the most common cancer in 2020 (in terms of new cases of cancer) were: breast (2.26 million cases); lung (2.21 million cases); colon, and rectum (1.93 million cases); prostate (1.41 million cases); skin (non-melanoma) (1.20 million cases); and stomach (1.09 million cases).

In addition, as per the 2020 statistics by GLOBOCAN 2020, an estimated number of 19,292,789 people were diagnosed with cancer in 2020, and this number is estimated to reach 30.2 million by 2040.

According to the article published in Mindspace Oncology 2021, in 2020, liver cancer was the sixth most common cancer and the third leading cause of cancer deaths worldwide, with an estimated 905,677 new cases and 830,180 deaths. East Asia had the highest incidence, at 17.9 per 100,000 population (26.9 in males and 8.9 in females), followed by Micronesia, northern Africa, Southeast Asia, and Melanesia. Moreover, the incidence rate was 6.9 per 100,000 in northern America and 5.6 per 100,000 in western Europe. Overall, the incidence rate of liver cancer is approximately three times higher in males than in females.

However, over the forecast period it is expected to launch the number of product in the domain of wearable injector. For instance, in August 2021, BD (Becton, Dickinson and Company), results from a 52-subject human clinical trial with the BD Libertas Wearable Injector. The subcutaneous drug delivery system, currently in final phases of development, is designed as ready to use and to deliver drugs such as biologics with viscosities up to 50 cP in 2-5 mL and 5-10 mL configurations.

Thus incresing in prevalence of cancer expected to drive the oncology segment over the forecast period.

North America Dominates the Market and Expected to do Same Over the Forecast Period

The rise in prevalence of chronic diseases coupled with the increasing technological advancement and product launches boosts the market in the region. According to GLOBOCAN 2020 statistics, 2,281,658 new cancer cases were diagnosed in the United States in 2020, with 612,390 fatalities. This indicates that the incidence and mortality rate associated with cancer is significantly high, which increases the demand for surgical procedures, subsequently increasing the demand for interventional oncology devices, thus driving the market. The most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colon and rectum cancer, bladder cancer, and skin cancer.

Also according to the American Diabetes Association in February 2022, diabetes affects more than 29 million people in North America, with that number expected to rise to 33 million by 2026. In 2020, the United States alone will have over 26 million diabetes patients. The prevalence of these diseases is expected to drive the growth in demand for wearable injectors all across the region.

Furthermore, various strategic initiatives are taken by the market players such as product launch, colloboration, merger and acquisition boost the market in the region. For instance, in April 2021, CeQur, a maker of insulin delivery devices based in Marlborough, has raised USD115 million in funding as it prepares to launch its wearable insulin injector later this year.

Thus, all aforementioned factor expected to boost the werable injectors market in the country.

Competitive Landscape

The global wearable injectors market is moderately competitive and consists of a number of major players. Companies like Amgen, Becton, Dickinson and Company, Dexcom, Inc., Enable Injections, Insulet Corporation, Sensile Medical , Tandem Diabetes Care, Inc., Ypsomed, among others, hold the substantial market share in the wearable Injectors market.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Chronic Diseases
4.2.2 Technological Advancements and Design Development
4.2.3 Increasing Concern over the Hazards and Limitations Related to Needlestick
4.3 Market Restraints
4.3.1 Preference for Alternative Drug Delivery Modes
4.3.2 Unfavorable Reimbursement Structure in Developing Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 On-Body Injectors
5.1.2 Off-Body Injectors
5.2 By Therapy
5.2.1 Oncology
5.2.2 Autoimmune Disease
5.2.3 Diabetes
5.2.4 Cardiovascular Disease
5.2.5 Others
5.3 By End User
5.3.1 Hospitals and Clinics
5.3.2 Home Care
5.3.3 Others
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Amgen Inc.
6.1.2 Becton, Dickinson and Company
6.1.3 Dexcom, Inc.
6.1.4 Enable Injections
6.1.5 Insulet Corporation
6.1.6 Sensile Medical
6.1.7 Tandem Diabetes Care, Inc.
6.1.8 Ypsomed
6.1.9 Buhler motor gmbh
6.1.10 West Pharmaceutical Services, inc
6.1.11 United Therapeutics (Steadymed Therapeutics)
6.1.12 Stevanato Group
6.1.13 Eitan Medical

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amgen Inc.
  • Becton, Dickinson and Company
  • Dexcom, Inc.
  • Enable Injections
  • Insulet Corporation
  • Sensile Medical
  • Tandem Diabetes Care, Inc.
  • Ypsomed
  • Buhler motor gmbh
  • West Pharmaceutical Services, inc
  • United Therapeutics (Steadymed Therapeutics)
  • Stevanato Group
  • Eitan Medical