The global autoinjectors market was valued US$ 56.5 billion in 2022 and is expected to reach approximately US$ 410 billion by 2032, growing at a compound annual growth rate (CAGR) of 22.1% during the forecast period 2023-2032.
What Is an Autoinjector?
An autoinjector is a specialized syringe equipped with a spring-loaded needle and pre-filled with a precise dosage of medication. When pressed against the body and activated with a sliding motion, it releases and administers the medication in an accurately measured dose. Auto-injectors offer several advantages, including reducing the fear of needles, minimizing the risk of needle-related incidents, and providing other benefits.
Benefits of Autoinjectors
Autoinjectors offer numerous advantages, including simplified administration and swift medication delivery, which are crucial for critical conditions such as anaphylactic shocks and opioid overdoses. Anaphylactic shocks often result from factors like food allergies, insect stings, or drug allergies and can have fatal consequences if not promptly treated.
Chronic diseases such as cancer, diabetes, and cardiovascular conditions impose a substantial economic burden, accounting for approximately USD$ 4.1 trillion annually in the United States. These diseases contribute significantly to disability and mortality, with six out of ten adults in the U.S. living with at least one chronic condition as of July 2022.
Traditional injection methods have typically relied on syringes, which can be a painful means of drug delivery. Consequently, both healthcare practitioners and patients are increasingly exploring alternative administration routes, including oral, nasal, and topical methods. Furthermore, advancements in technology have paved the way for the development of needle-free injectors.
Autoinjector Market Segmentation
The autoinjectors market is categorized by therapy into segments including rheumatoid arthritis (RA), multiple sclerosis, anaphylaxis, diabetes, and others. The rheumatoid arthritis segment is anticipated to dominate the market in terms of revenue during the forecast period, primarily due to the rising prevalence of this disease. Rheumatoid arthritis represents the most common form of autoimmune arthritis, affecting approximately 1% of the global population.
The North American market is poised to capture the largest share of revenue throughout the forecast period. This can be attributed to ongoing technological advancements in medical devices, a growing population of individuals with diabetes and anaphylaxis, and favorable government policies. The European market is projected to experience steady revenue growth over the forecast period, driven by rising investments and the expansion of healthcare infrastructure. For instance, on March 16, 2022, Ipsen announced its investment in a new state-of-the-art electronic autoinjector for Somatuline Autogel/Somatuline Depot (lanreotide), with the aim of advancing patient care and enhancing the administration and injection process.
Top Companies and Competitive Strategies
Prominent market players are allocating substantial resources to research and development endeavors aimed at diversifying their product portfolios, further fueling the growth of the autoinjectors market. Key players in the Autoinjectors market include AbbVie Inc., Mylan N.V., Lily, Amgen Inc., Ypsomed Holding, BD, Owen Mumford Ltd., Consort Medical, Plc, SHL Medical AG, Johnson Medtech, LLC, Teva Pharmaceuticals USA, Inc., Antares Pharma, AstraZeneca, Union Medico Inc., Gerresheimer AG, and Emergent, among others.
Where to Learn More
For additional information on this market, be sure to check out the comprehensive new report Global Autoinjectors Market Size, Share & Trends Analysis by Factview Research. This report provides details on the global autoinjectors market size, forecast, segmentation, regional dynamics, industry trends, and competitive intelligence.
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