The global wearable injectors market is anticipated to reach USD 11.3 billion by 2025
The market is expected to witness lucrative growth during the forecast period owing to technological advancements in wearable injectors coupled with rising demand for round-the-clock monitoring. The paradigm shift towards self-administration of injectable is expected to drive the market during the forecast period. In addition, increasing awareness and rising adoption of wearable injectors are expected to assist in growth.
Technological advancements in wearable injectors, such as Bluetooth integrated wearable injectors, enable sending alerts to patients, such as injection reminders, and provide patients access to data regarding their therapy regime. Also, optional smart functionality provides connectivity to the healthcare network. Some of these devices have buttons that are accessible through clothing, and others prevent accidental activation. They also have audio and visual status indicators or signals. Patients can self-administer drugs subcutaneously in less time and with minimal effort as compared to intravenous or other routes. Patients are not required to visit any healthcare provider for administration.
Prevalence of lifestyle-associated diseases, such as diabetes and hypertension, is expected to increase during the forecast period. These diseases demand round-the-clock monitoring of various physiological parameters, such as blood pressure and blood sugar levels. Thus, integration of healthcare data with wearable injectors, which gets forwarded to physicians or doctors giving them real-time access with minimal errors, is expected to boost the wearable injectors market.
Further Key Findings From the Study Suggest:
The on-body segment held lucrative market share in 2016, owing to growing preference of patients for adhesive patches that release the drug easily and can be worn on the skin
The motor-driven segment is expected to register the highest growth over the forecast period owing to increasing demand from hospitals, clinics, retail chain stores, and pharmacies
The oncology segment is expected to gain the largest market share due to increasing incidence of cancer worldwide
North America is expected to dominate the wearable injectors market over the forecast period due to rising demand for innovative Information Technology (IT) solutions to streamline workflow and increasing regulatory requirements to ensure patient safety