IMARC Group, a leading market research company, has recently releases report titled “Autoinjector Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global autoinjector market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the autoinjector market?
The global autoinjector market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 15.4% during 2023-2028.
What is autoinjector?
Self-injectable devices, known as autoinjectors, are designed to administer drugs through the subcutaneous or intramuscular route. They offer numerous benefits, including precise dosing and improved patient adherence, while also addressing needle phobia and reducing the risk of needlestick injuries with their concealed needle design. Moreover, autoinjectors enhance the convenience and efficiency of healthcare professionals. These devices find widespread use in emergencies like anaphylaxis, migraine, status epilepticus, psoriasis, diabetes, multiple sclerosis, and rheumatoid arthritis. Consequently, autoinjectors are extensively utilized in hospitals, clinics, and home care centers worldwide.
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What are the growth prospects and trends in the autoinjector industry?
Currently, there is an increase in the prevalence of various medical conditions such as arthritis, asthma, cancer, chronic obstructive pulmonary disease (COPD), and Alzheimer’s disease. This, combined with the growing demand for self-administered medications, serves as a significant driver for the market.
Additionally, several governments are implementing initiatives to promote the use of autoinjectors in educational institutions, further fueled by rising individual awareness regarding the advantages of autoinjectors. Key market players are also extensively spending in research and development (R&D) endeavors to develop cost-effective, technologically advanced autoinjectors for the treatment of conditions like rheumatoid arthritis and multiple sclerosis.
Moreover, the increasing adoption of targeted therapies that modify proteins in cancer cells and inhibit new blood vessel formation in tumors presents lucrative growth opportunities for industry stakeholders. The expanding healthcare industry worldwide contributes to the market’s growth as well. Other factors supporting this growth include a rise in regulatory approvals, technological advancements, the expiration of biologics patents, and the availability of generic autoinjector versions.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
· Disposable Autoinjectors
· Reusable Autoinjectors
Breakup by Application:
· Rheumatoid Arthritis
· Multiple Sclerosis
Breakup by End User:
· Home Care Settings
Hospitals and Clinics
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Amgen Inc., Antares Pharma Inc., Becton Dickinson and Company, Bristol-Myers Squibb Company, Eisai Co. Ltd., Eli Lilly and Company, Haselmeier GmbH (Sulzer Ltd.), Johnson & Johnson, Mylan N.V. (Viatris Inc.), Novartis AG, SHL Medical AG, Teva Pharmaceutical Industries Ltd. and Ypsomed Holding AG.
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