Press release
Autoinjectors Market: Delve into Market Size, Trends, and Growth Drivers
Autoinjectors Market
The autoinjectors market size is expected to see exponential growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to expansion of therapeutic applications, rising healthcare costs, increased focus on patient-centered care, telemedicine and remote patient monitoring, emerging markets. Major trends in the forecast period include personalized drug delivery, connected and smart autoinjectors, needle-free autoinjectors, biologic drug delivery, safety and security features.
Market Overview -
An autoinjector is a device for injecting a single, preset dose of medication into one's own body. It generally consists of a spring-loaded syringe that is activated when the device is pressed firmly against the body.
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Elevated Prevalence Of Chronic Diseases Sparks Growth In The Autoinjectors Market
The increasing prevalence of chronic diseases is expected to fuel the growth of the autoinjectors market in the coming years. Chronic diseases are described as illnesses that last a year or longer and necessitate continuing medical attention. Chronic diseases such as heart disease, cancer, rheumatoid arthritis, and diabetes are the world's top causes of mortality and disability. Auto injection devices are intended for multiple injections of biologics and hormones in patients who require regular dosage for long-term management of medical circumstances such as diabetes and rheumatoid arthritis. For instance, according to the Imperial College London research in 2020, chronic diseases are expected to kill almost 41 million people globally each year, accounting for seven out of ten fatalities. Around 17 million of these fatalities are classified as premature, with people dying substantially younger than predicted on average. Therefore, the increasing prevalence of chronic diseases drives the growth of the autoinjectors market.
Competitive Landscape -
Major companies operating in the autoinjectors market include AbbVie Inc., Mylan N.V., Eli Lilly and Company, Amgen Inc., Becton, Dickinson and Company, Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Pfizer Inc., Bayer AG, Biogen Inc., AstraZeneca PLC, Haselmeier GmbH, Owen Mumford Ltd., Gerresheimer AG, Philip Morris International Inc., Oval Medical Technologies Ltd., Solteam Incorporation Co. Ltd., Elcam Medical Group (E3D) Ltd., Jabil Inc., Catalent Inc., SHL Medical AG, West Pharmaceutical Services Inc., Nemera Development S.A., Bespak Europe Ltd., AptarGroup Inc., Consort Medical plc, Terumo Corporation, Nipro Corporation, Medtronic plc, Integra LifeSciences Corporation, OssDsign AB, Xenco Medical LLC, Renishaw plc
Technological Advancements Reshape The Autoinjectors Market As Companies Innovate For Biologics Delivery
The growing technological advancements are shaping the autoinjectors market. Major players operating in the autoinjectors sector are focused on developing technological solutions for autoinjectors to meet the demand for a viscous biologics delivery mechanism. For instance, in February 2021, Becton Dickinson (BD), a US-based medical device company is developing Intevia 2.25 mL based on thinner wall cannula technology. The Intevia 2.25 mL is a patient-centric device that works seamlessly with BD Neopak XtraFlow prefillable syringes and has an 8-millimeter needle with a thinner wall.
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Key Segments -
The autoinjectors market covered in this report is segmented -
1) By Type: Disposable Autoinjectors, Reusable Autoinjectors
2) By Therapy: Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis, Other Therapies
3) By Route Of Administration: Subcutaneous, Intramuscular
4) By Distribution Channel: Online Retailer, Pharmacy
5) By End User: Home Care Settings, Hospitals And Clinics, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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