Wearable Injectors Market by Product and Geography - Forecast and Analysis 2020-2024

The global wearable injectors market has the potential to grow by USD 4.12 billion during 2020-2024, and the market's growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by product (on-body wearable injectors and off-body wearable injectors) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors including Amgen Inc., Becton, Dickinson and Co., Enable Injections Inc., Gerresheimer AG, Insulet Corp., Medtronic Plc, Tandem Diabetes Care Inc., Valeritas Inc., West Pharmaceutical Services Inc., and Ypsomed AG.

Market Overview

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Market Competitive Analysis

The wearable injectors market is fragmented, and the degree of fragmentation will decrease during the forecast period. Prominent market vendors are adopting various growth strategies, such as partnerships and collaborations, to broaden their technological landscape and increase their market share. Amgen Inc., Becton, Dickinson and Co., and Enable Injections Inc. are some of the major market participants. Though the increasing demand for self-administrative drug delivery devices will offer immense growth opportunities, the high costs associated with wearable injectors will challenge the growth of the market participants. To increase their wearable injectors market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this wearable injectors market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and provides information on the products offered by various companies. Moreover, this wearable injectors market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading wearable injector manufacturers, including:

• Amgen Inc.
• Becton, Dickinson and Co.
• Enable Injections, Inc.
• Gerresheimer AG
• Insulet Corp.
• Medtronic Plc
• Tandem Diabetes Care Inc. 
• Valeritas Inc.
• West Pharmaceutical Services Inc.
• Ypsomed AG

Wearable Injectors Market: Segmentation by Region

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North America was the largest market for wearable injectors in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The adoption of advanced technologies in the therapeutics sector, rising awareness about self-administration of drugs, the growing prevalence of chronic diseases, increasing healthcare expenditure, and increasing number of product launches are some of the factors contributing to wearable injectors market growth in this region.

Almost 41% of the market's growth will originate from North America during the forecast period. The US is a key market for wearable injectors in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.

Wearable Injectors Market: Segmentation by Product

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On-body wearable injectors are mainly pre-filled and pre-assembled patch devices that help in the subcutaneous delivery of high-volume drugs. The convenience of self-administration of drugs and increasing prevalence of cancer, diabetes, and other chronic diseases are some of the factors driving the growth of the wearable injectors market in this segment.

However, market growth in this segment will be slower than the growth of the market in the off-body wearable injectors segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the wearable injectors market size.

Wearable Injectors Market: Key Drivers and Trends

The increasing demand for self-administrative drug delivery devices will be a significant factor in driving the growth of the wearable injectors market. The concept of self-administration of drugs is gaining traction among patients and healthcare professionals as it helps in improving health outcomes and minimizing the admission rate at hospitals and clinics for regular treatment needs. This has resulted in increasing demand for self-administrative drug delivery devices, such as wearable injectors that facilitate self-administration and ensure patient's adherence to medication. Patients with diabetes, cancer, and arthritis are increasingly adopting wearable injectors because of their ease of administration. Wearable injectors are also being used to administer biologic drugs in large volumes in the patient's body in a minimally invasive manner. Factors such as the benefit of measuring drug dosage, fewer chances of needle stick injuries, and absence of complications associated with traditional injection devices will further boost the popularity of wearable injectors.

• The technological advancements in wearable injectors will be critical wearable injectors market trends contributing to the market growth.
• Several pharmaceutical and medical device companies are focusing on the development of new technologies to minimize the frequency of injections for drug delivery with regular injectors and syringes.
• The development of bolus wearable injectors or patch pumps has facilitated the administration of biologics such as monoclonal antibodies, which require injecting in large volumes in patients' bodies.
• Market vendors are also focusing on the development of technologically advanced wearable injectors to enhance the quality and efficacy of treatment.
• Such technological advancements are expected to enhance self-administration capabilities in patients, eliminate the limitations associated with other self-injecting drug delivery devices, and minimize healthcare costs incurred due to repeated hospital visits.
• During 2020-2024, the wearable injectors market will grow at a CAGR of almost 11%.

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Wearable Injectors Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the growth of the wearable injectors market during the next five years
• Precise estimation of the global wearable injectors market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the wearable injectors industry across Asia, Europe, North America, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wearable injectors vendors

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