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According to the latest report by IMARC Group “Wearable Injectors Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027“, The global wearable injectors market size reached US$ 5.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 14.4 Billion by 2027, exhibiting a CAGR of 16.75% during 2022-2027.
Wearable injectors, also known as patch pumps, are drug delivery systems comprising a reservoir to store drugs, a cannula for substance delivery to tissues, and a drive system for delivering preset doses to patients automatically. They are comfortable and assist in delivering viscous medications in larger amounts quickly and safely through the subcutaneous tissues in the body. Unlike traditionally used injections, wearable injectors are user-friendly, cause minimal pain and are easy to dispose of.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The growing geriatric population, which is more susceptible to chronic medical ailments, represents one of the key factors positively influencing the market. In line with this, the rising demand for minimally invasive (MI) treatment alternatives and escalating demand for home-based treatment among the patients are other major factors creating a positive outlook for the market. Furthermore, increasing investment in healthcare infrastructure and services and research and development (R&D) activities are anticipated to drive the market.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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