[104 Pages Report] MarketsandMarkets forecasts the wearable injectors market is estimated to grow from USD 5.57 billion in 2018 to USD 9.41 billion by 2023, at a compounded annual growth rate (CAGR) of 11.1% during the forecast period. Growth in the wearable injectors market is mainly driven by factors such as the rising prevalence of chronic diseases such as cancer, diabetes, and CVD; favorable reimbursement scenario in major markets; and technological advancements in injector devices. The objective of the report is to define, describe, and forecast the wearable injectors market size based on type, therapy, technology, end user and region.

By type, on-body injectors segment is estimated to account for the largest share of the global wearable injectors market in 2018.

Based on type, the market is segmented into on-body and off-body injectors. The on-body segment is expected to account for the largest share of the global wearable injectors market, by type. However, in the coming years the off-body injectors to witness the highest growth during the forecast period, The drawbacks associated with on-body wearable injectors, such as painful removal, skin sensitivity issues and irritation, and adhesive fitting issues have resulted in the increased adoption of off-body injectors.

By therapy, the immune-oncology segment is estimated to account for the largest share of the global wearable injectors market in 2018.

Based on therapy, the wearable injectors market is segmented into immuno-oncology, diabetes, cardiovascular diseases, and other therapies. In 2018, the immuno-oncology segment is expected to account for the largest share of the wearable injectors market. The large share of this segment is mainly attributed to the high prevalence of cancer across the globe.

North America is estimated to account for the largest market size in 2018

The North American region is leading the global wearable injectors market is expected to account for the largest share of the market in 2018. Moreover, North America is estimated to grow at the highest rate during the forecast period. Factors such as the rising prevalence of chronic diseases, favorable reimbursement scenario, and the presence of major market players in the region are expected to support the growth of the North American wearable injectors market.

Market Dynamics

Driver: Favorable reimbursement scenario in major market

North America is a major market for wearable injectors, boasting both large demand and a strong base/presence of players. In addition, the US and Canada both feature a favorable reimbursement scenario for wearable injectors, which has served to boost their uptake.

In the US, wearable injectors such as Neulasta and disposable insulin devices are covered on a co-payment basis by most insurance plans, including Medicare Part D. These co-payments and preferred statuses vary based on the plan. In addition, savings allied with a preferred brand are different. In Canada, the coverage for wearable insulin pumps varies across provinces, with a majority of provinces providing full reimbursement for these devices. For instance, the Assistive Device Program (ADP) reimburses 100% of the cost of insulin pump therapy in Canada.

A favorable reimbursement environment directly serves to boost the use of wearable injectors in these countries. Given North America�s large share in the market, this will reinforce market growth as a whole.

Restrain: Preference of alternative drug delivery

The traditional injectable route is an invasive and painful mode of drug delivery owing to which patients and care providers are increasingly focusing on alternative routes, such as oral, topical, and nasal routes. The oral route is the most preferred as it is easy to use, convenient, cost-effective, safe, and acceptable. Moreover, the introduction of needle-free drug delivery devices such as jet injectors also restricts the growth of the wearable injectors market.

Needle-free devices also come with an added advantage-they do not induce needle anxiety, which is a significant deterrent to the greater adoption of injectable drug treatments. Non-compliance among children as well as adults is mostly attributed to the pain associated with daily injections and the requirements of long-term therapy. According to a survey by the American Association of Diabetes Educators, as many as one-fifth to one-third of diabetics are hesitant or unwilling to inject themselves due to needle anxiety.

This directly affects the adoption of wearable injectors, and, as a result, serves to restrain market growth.

Opportunity: Increasing demand for biologics and mAbs

A growing focus on the use of biologics and mAbs to treat diseases such as rheumatoid arthritis, cardiovascular disease, and cancer will provide significant growth opportunities for wearable injectors, as these drugs need to be administered via the parenteral route (intravenous, subcutaneous, or intramuscular delivery). According to PhRMA (Pharmaceutical Research and Manufacturers of America), as many as 907 biologics are in development; it can be expected that the coming years will register significant growth in R&D activity in this sector.

Their efficacy in self-administration and convenience is likely to make wearable injectors prominent options for the delivery of such drugs.

Challenge: Unfavorable reimbursement structure in developing countries

A number of developing countries do not offer reimbursement for wearable injectors. For instance, in India, wearable insulin pumps are not reimbursed, and no specific guidelines regarding their use are given on prescription. In China, patients with Type 1 diabetes have to bear the entire cost of insulin pumps and supplies out-of-pocket. The lack of reimbursement directly affects access to and the adoption of wearable injectors and is thus expected to negatively impact the growth of the market in the coming years.

Scope of the Report

The research report categorizes the wearable injectors to forecast the revenues and analyze the trends in each of the following sub-segments:

Wearable Injectors Market, By Type

On-body injectors

Off-body injectors

Wearable Injectors Market, By

Immuno-oncology

Diabetes

Cardiovascular Diseases

Other Therapies (Parkinson�s disease, Thalassemia, and Primary Immunodeficiency Disorders)

Wearable Injectors Market, By Region

North America US Canada

Europe Germany UK France Rest of Europe (RoE)

Asia Pacific China Japan India Rest of Asia Pacific

Rest of the World

Key Market Players

The major market players in the wearable injectors market include Amgen (US), Medtronic (Ireland), Insulet Corporation (US), Tandem Diabetes Care (US), United Therapeutic Corporation (US), Valeritas (US), SteadyMed Therapeutics (US), Ypsomed (Switzerland), Becton, Dickinson and Company (US), Enable Injections (US), Sensile Medicals (Switzerland), and Bespak (UK)

In 2017, Amgen held the leading position in the global wearable injectors market. In 2017, the company accounted for a market share of 100% in the wearable injectors market for immuno-oncology. The company offers wearable injectors for the treatment of neutropenia in cancer patients under the brand-Neulasta Onpro On-body Injector.

Recent Developments

In 2019, Amgen�s Repatha (evolocumab) device options, including the Pre-Filled Syringe and Pushtronex available in the US at a 60% reduced list price.

In 2018, Amgen received EU approval for Repatha.

In 2018, Medtronic launched MiniMed670G for diabetic patients

In 2018, Insulet Corporation (US) partnered with Glooko Inc. (US). According to the partnership, Insulet�s Omnipod System user data will be connected with the Glooko+diasend platform in order to review the blood glucose pattern of patients on smartphones.

Critical questions the report answers:

Where will all these developments take the industry in the long term?

What are the upcoming trends for the wearable market?

Which segment provides the most opportunity for growth?

Who are the leading vendors operating in this market?

What are the opportunities for new market entrants?

Available customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization options are available for the report:

Company Information

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