Wearable Injectors Market Expected to Reach $23.89 Billion by 2031, Growing at 15.29% CAGR
Wearable Injectors Market size was valued at USD 7.65 billion in 2023 to USD 23.89 billion by 2031, growing at a CAGR of 15.29% in the forecast period (2024-2031). Wearable injectables are delivery structures that adhere to the skin, permitting long-term application of drugs to the skin. The mechanical capabilities of a wearable injector offer unique dosing and transport accuracy, among different medical benefits. The additives of every wearable injection are same, a tube for passing the veins, an area to attach the needle to the skin, and a device that provides the perfect dosage. Comparing wearable injectors to traditional injecting techniques, they are a more affordable form of administration. The wearable injectors market is anticipated to grow owing to the advantages of these devices over conventional injections, including higher dosage levels while properly monitored.
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Competitive Environment in the Wearable Injectors Market: An Enlarged View
The wearable injectors market has witnessed a dynamic and competitive environment driven by the rapid adoption of advanced drug delivery systems and growing demand for patient-friendly medical devices. Leading companies such as Medtronic, BD (Becton, Dickinson & Company), Insulate Corporation, Amgen, and Ypsomed are dominating the industry, driving the technological advances and expanding their services to cater to a diverse therapeutic area.
BD is strengthening its presence in the market with innovations in automated devices and expanding the utility of its wearable injectors beyond diabetes, oncology and autoimmune diseases. Their purchasing strategy has also enabled them to have increased their influence in the biological sciences. Insulate Corporation is another key company with its Omnipod® system, a waterless insulin delivery system. Insulet distinguished itself by the simplicity and user-friendliness of the device design, with a focus on improving the user experience.
Strategic Cooperation and Partnership
In January 2022, Insulet’s Omnipod 5 delivery device for insulin delivery was granted U.S. patents. With this certification, the company hopes to release the first wearable tubeless automated insulin administration device that blends the Omnipod 5 with Dexcom’s G6 continuous glucose monitoring system.
In April 2021, Five Prime Therapeutics, a clinical biotechnology company specializing in the development of immuno-oncology and targeted cancer drugs, was officially acquired by Amgen. Amgen believes that by acquiring Five Prime for gastric cancer, it can take advantage of Bemarituzumab, a first-line treatment, to help gastric cancer patients.
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This report covers the following segments:
A. Type
On-Body
Off-Body
B. Therapy
Diabetes
Cardiovascular disease
Immuno-oncology
Others
This report covers the following players:
Ypsomed
Amgen
Subcuject (Denmark)
Becton, Dickinson and Company (BD)
Bespak Europe Ltd.
CeQur SA
Debiotech SA
Enable Injections
Insulet Corporation
Medtronic plc
Mylan N.V.
Nemera Development S.A.
Omron Corporation
Pfizer Inc.
Roche Holding AG
Sensile Medical AG
SteadyMed Therapeutics, Inc.
Tandem Diabetes Care, Inc.
United Therapeutics Corporation
West Pharmaceutical Services, Inc.
Zosano Pharma Corporation
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Growing Shift Toward Convenient Drug Delivery
The future of wearable injectors holds strong potential, and it offers a simple, patient-centered solution for drug delivery systems. The wearable injectors market is poised for tremendous growth owing to increasing demand for personalized medicines, advancements in the biopharmaceuticals, and increasing incidence of chronic diseases. These devices provide patients find an easier, pain-free way to manage chronic conditions, reducing health care burden. As technological innovations continue, such as smaller, more user-friendly designs, this market is expected to expand rapidly in the coming years.
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