The global wearable injectors market is predicted to register significant growth in the coming years. This is attributed to the increasing demand for advanced drug delivery, rising geriatric population, and surging prevalence of chronic diseases. A device which is utilized for delivering large volume of drugs over an extended period of time is referred to as a wearable injector. The device delivers large subcutaneous doses of drugs to patients even when the patient is ambulatory and is able to carry out normal daily life activities during the drug delivery.
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When type is taken into consideration, the wearable injectors market is divided into bolus injector, body-worn patch injector, and off-body worn belt injector. Among these, the body-worn patch injector division held the largest share of the market in the past, however, the bolus injector division is projected to dominate the market in the near future. This is because of the ability of bolus injector to treat several diseases including auto-immune diseases, blood disorders, cancer, infectious diseases, and cardiovascular diseases. The division is further projected to grow at the fastest pace in the coming years.
The surging geriatric population is among the major driving factors of the wearable injectors market. According to the United Nations Department of Economic and Social Affairs report on the global aging population, the number of people aged 60 years or above is expected to grow by 56%, i.e., from 901 million in 2015 to 1.4 billion by 2030. Moreover, the elderly people are more susceptible to chronic diseases as they have low immunity levels. Attributed to these factors, the demand for wearable injectors is growing with the rising aging population.
The increasing adoption of wearable injectors in developing countries is opening up wide opportunities for the players operating in the wearable injectors market. This is ascribed to the rising awareness regarding the availability of these devices and increasing healthcare spending. In addition to this, the prevalence of chronic diseases is high in emerging economies, such as Brazil, India, and China, because of a lack of healthcare awareness, which is further creating an increased demand for these devices. As per the International Diabetes federation, China has the largest population of adults suffering from diabetes.
Hence, the market is being driven by the increasing geriatric population and rising need for advanced drug delivery