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Autoinjectors Market to Hit USD 3.02 Billion by 2030: Growth Drivers, Key Players, and Trends | MarketsandMarkets Trademark
Asia Pacific region is anticipated to grow at a significant CAGR during the forecast period of 2024-2030. Factors such as a favorable regulatory environment, a shift towards home-based care in the APAC region, and a rise in funding for the development of
The global autoinjectors market [https://www.marketsandmarkets.com/Market-Reports/autoinjector-market-173991724.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=autoinjectormarket] is forecasted to grow from USD 1.40 billion in 2024 to USD 3.02 billion by 2030, driven by a robust CAGR of 13.6%. Similarly, the market for finished autoinjector formulations is expected to nearly double, reaching USD 134.27 billion by 2030 from USD 67.30 billion in 2024, growing at a CAGR of 12.2%. Key growth drivers include technological advancements in autoinjectors, such as improved designs, connectivity features, and the increasing prevalence of severe allergies and chronic diseases. Regulatory approvals, especially for biologics like Humira and new categories such as GLP-1, further stimulate demand. However, challenges include the development of autoinjectors for drugs with varying viscosities and the rise of needle-free delivery systems, which address needle phobia and offer alternative administration routes. Opportunities lie in the launch of advanced autoinjectors with smart technology and favorable regulatory environments, particularly in North America and the Asia Pacific. Major players in the market include SHL Medical AG, Ypsomed AG, Becton, Dickinson and Company, and Eli Lilly and Company.
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Factors Driving Market Growth
Key drivers of the autoinjectors market include the increased adoption of these devices due to their ease of use, along with a rise in approvals for biosimilars and biologics. Technological advancements such as Bluetooth connectivity, dose monitoring, adherence tracking, and data sharing with healthcare providers are also fueling market growth.
Technology Segment Trends
The technology segment of the market is divided into manual and automatic autoinjectors. Manual autoinjectors are expected to experience the highest CAGR due to their cost-effectiveness and suitability for self-administration. Automatic autoinjectors are also projected to grow significantly, bolstered by new product launches and favorable regulatory support.
Usage Segment Insights
The market is segmented into reusable and disposable autoinjectors. Disposable autoinjectors currently lead the market due to their convenience, ease of use, and hygiene benefits. However, advancements in digital health features for reusable autoinjectors are driving their increasing demand. For example, Jabil Healthcare introduced the Qfinity reusable autoinjector platform in May 2022.
Route of Administration Dynamics
Autoinjectors are categorized by administration route into intramuscular (IM) and subcutaneous (SC). The subcutaneous route dominates the market due to the large number of formulations available and its benefits such as slower medication absorption, ease of use, and minimal training requirements.
Therapy Area Growth
In terms of therapy areas, obesity is anticipated to grow at a notable CAGR during 2024-2030, driven by new product launches such as Wegovy (Novo Nordisk A/S), which received FDA approval for treating obesity and, more recently, for cardiovascular risk reduction in 2024.
Regional Market Analysis
North America leads the global autoinjectors market, driven by a high concentration of key players, favorable reimbursement policies, and increasing adoption of advanced autoinjectors. The region's prevalence of chronic diseases and a focus on patient-centric healthcare are further propelling market growth. Conversely, the Asia Pacific region is expected to witness significant growth due to a favorable regulatory environment and increasing investment in healthcare innovations.
Key Market Players
Major players in the autoinjectors market include Becton, Dickinson and Company (US), Ypsomed Holding (Switzerland), SHL Medical AG (Switzerland), West Pharmaceutical Services, Inc. (US), and Recipharm AB (Sweden). For finished formulations, key players are Abbvie Inc. (US), Eli Lilly and Company (US), Amgen Inc. (US), Novo Nordisk A/S (Denmark), Johnson & Johnson Services Inc. (US), Sanofi (France), and GSK plc (UK).
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SHL Medical AG's Market Leadership
SHL Medical AG is a leading player in the autoinjectors market, known for its extensive range of products catering to various formulation volumes. The company's focus on launching advanced autoinjector devices has cemented its dominant market position. SHL Medical AG is also planning to increase its production capacity to meet future demand.
Ypsomed AG's Market Influence
Ypsomed AG stands out as a significant player in the global autoinjector market. The company provides a broad portfolio of self-injection and infusion systems. Ypsomed's emphasis on geographic expansion and patient-centric products has reinforced its market presence. Recent strategic moves include a long-term supply agreement with Novo Nordisk, highlighting its commitment to growth and collaboration.
Becton, Dickinson and Company (BD) Strategies
Becton, Dickinson and Company (BD) is a notable player in the autoinjectors market, offering a range of drug delivery systems. BD's strong market presence is attributed to its innovative products, strategic collaborations, and extensive global distribution network. The company's focus on expanding in emerging markets and leveraging partnerships is likely to bolster its position in the industry.
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