Ultra-large Volume Wearable Injectors Market to Witness a Healthy Transition during 2022-2031

Overview of Ultra-Large Volume Wearable Injectors Market

Ultra-large volume wearable injectors are wearable injector systems that are able to store large volumes of drugs and designed to deliver the drug subcutaneously over an extended period of time. These wearable drug delivery devices are majorly used in the treatment of chronic diseases such as cancer, diabetes, and autoimmune disorders. Wearable injectors offer a solution to the challenge of delivering sub-cutaneous injections of increasing dosing volumes and viscosities in non-clinical settings. West Pharmaceutical Company's SmartDose 10 On-Body Delivery System (OBDS) consists of a battery-powered, wearable on-body injector with a separate, pre-fillable, polymer-based cartridge that is filled with the drug product.

The ability of ultra-large volume wearable injectors to accommodate new formulations with higher volume and viscosity improves patient experience, and potentially increases adherence to therapies.

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Increasing Prevalence of Chronic Diseases to Drive Global Market

Chronic diseases, such as diabetes, cardiovascular disorders, autoimmune disorders, and various types of cancer, are the leading causes of death and disability worldwide. According to the Centers for Disease Control and Prevention (CDC) in 2019, nearly six in 10 individuals suffer from, at least, one chronic disease in the U.S.

Cardiovascular diseases (CVDs) are a significant cause of mortality, globally, owing to the hectic lifestyle. As per the World Health Organization (WHO), CVDs are the number one cause of death, globally, taking an estimated 17.9 million lives each year. According to the International Diabetes Federation (IDF), around 537 million adults (aged 20 -79) are living with diabetes globally. Furthermore, it has been stated that the number of diabetic patients would increase to 643 million by 2030 and 783 million by the year 2045.

In diabetes patients, the exogenous insulin is usually administered through a subcutaneous route of administration for diabetes management. The wearable injector is an ideal drug delivery method for painless and accurate dosage of insulin.

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Surge in Usage of Self Administration Devices to Boost Global Market

Self-administration devices are being increasingly used, as most of the people prefer treating themselves at the convenience of their home or own space. After the onset of the COVID-19 pandemic, most of the people preferred home treatment, as they did not want to contract the infection. Therefore, COVID-19 prompted the use of self-administration devices among people who required continuous drug delivery or treatment. Therefore, the wearable injectors market is estimated to grow due to the dependency of individuals on self-administration devices.

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Rise in Number of Insulin-dependent Diabetic Patients Needing Wearable Injectors to Propel Market

The diabetes segment accounted for a dominant share of the global market in 2021. The segment is anticipated to expand at a high CAGR from 2022 to 2031. The growth of the diabetes segment is due to a rise in the number of diabetic patients globally. Moreover, diabetic patients who are insulin dependent prefer wearing an injector on their body rather than using a syringe to inject themselves. Therefore, these factors are estimated to boost the ultra-large volume wearable injectors market.

For instance, as per the World Health Organization (WHO), around 422 million people have diabetes, worldwide; most of those people are living in low and middle income countries, and 1.5 million deaths are directly attributed to diabetes each year. Number of cases and the prevalence of diabetes have been rising at a steady pace for the past few decades.

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Convenience of Purchase of Wearable Injectors from Retail Pharmacies and Drug Stores to Fuel Segment Growth

In terms of distribution channel, the global market has been divided into retail pharmacies & drug stores, e-commerce, and others. The high market share held by the retail pharmacies & drug stores segment is due to increased number of patients that are preferring ultra-large volume wearable injectors for various drug deliveries. Retail pharmacies and drug stores sell different wearable injectors and hence, this has become convenient for purchasing and usage.

Regional Outlook of Ultra-large Volume Wearable Injectors Market

North America dominated the global ultra large volume wearable injectors market. The growth of the market in the region can be attributed to an increase in prevalence of chronic diseases, such as cancer, diabetes, oncology, cardiovascular diseases; development of new products, and presence of key market players in the region. Furthermore, technological advancements in the treatment of diseases are expected to be a key driver for the ultra-large volume wearable injectors market in the U.S. and Canada.

Asia Pacific is the expected to be fastest growing market for ultra-large volume wearable injectors, owing to increase in geriatric population, rise in prevalence of chronic diseases, supportive government initiatives, and research in the field of wearable medical devices. Additionally, investments by international market players fuel the growth of the market.

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Analysis of Key Players in Ultra-large Volume Wearable Injectors Market

Amgen, Inc., Medtronic, BD, Insulet Corporation, Gerresheimer AG (Sensile Medical), West Pharmaceutical Services, Inc., Ypsomed AG, Tandem Diabetes Care, Inc., Cequr SA, Debiotech S.A, Elcam Medical, and VALERITAS, INC. are among the key companies operating in the ultra-large volume wearable injectors market. This report profiles key players in the global ultra-large volume wearable injectors market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global ultra-large volume wearable injectors market is highly fragmented, with the presence of numerous global as well as regional players.

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Key Developments in Ultra-large Volume Wearable Injectors Market

Leading players in the ultra-large volume wearable injectors market are engaged in regulatory approvals, launch of technologically advanced products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the global ultra-large volume wearable injectors market. Companies have increased their research and development activities for ultra-large volume wearable injectors.

In February 2020, Becton, Dickinson, and Company completed the 50-subject human clinical trial with the BD Libertas Wearable Injector
In July 2018, Sensile Medical, Sanofi, and Verily joined forces for the development and commercialization of the connected insulin patch pump. This partnership between three parties is focused on the development and commercialization of a new generation of "all-in-one" pre-filled insulin patch pump. It is primarily used in patients with type 2 diabetes.

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