Autoinjectors are easy-to-handle and cost-effective medical devices that can be used by patients, caregivers, and even untrained personnel to deliver a dose of a particular drug. Autoinjectors are used by patients to manage autoimmune diseases and chronic diseases. They are used for a wide range of indications such as rheumatoid arthritis, multiple sclerosis, diabetes, and anaphylaxis.
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According to the new market research report Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular Diseases, Diabetes), Type (Disposable, Reusable), Route of administration (Subcutaneous, Intramuscular), End User (Hospital) - Global Forecast to 2025" The global autoinjectors market is projected to reach USD 104.9 billion by 2025 from USD 46.0 billion in 2020, at a CAGR of 17.9% from 2020 to 2025. The key factors driving the growth of this market include the growing prevalence of targeted therapies such as rheumatoid arthritis and multiple sclerosis, rising incidence of anaphylaxis, and increasing number of regulatory approvals.
Diabetes segment is expected to show the highest growth in the forecast period.
The autoinjectors market, by therapy, is segmented into rheumatoid arthritis, multiple sclerosis, anaphylaxis, diabetes, multiple sclerosis, and other therapies (includes cardiovascular diseases, migraine treatment, anemia, and progesterone therapy). Diabetes mellitus, commonly known as diabetes, is a disease that arises from the insufficient production of insulin or the body’s inability to utilize insulin. To maintain healthy blood glucose levels, diabetes patients need a daily intake of insulin or Glucagon-like peptide-1 (GLP-1). This scenario will provide companies with abundant opportunities to develop innovative solutions and cater the end user’s demand.
Disposable autoinjectors accounted for the largest share of the autoinjectors market in 2020.
Based on type, the autoinjectors market is segmented into reusable and disposable autoinjectors. In 2019, the disposable autoinjectors segment accounted for the largest share of the global autoinjectors market. Disposable autoinjectors are the most-preferred autoinjectors due to their ease of use and the presence of a built-in glass syringe (eliminates the need of manually loading the glass syringe), which makes it more convenient for patients with reduced dexterity or visual impairment.
Home care settings segment accounted for the largest share and is expected to show the highest growth in the forecast period.
Based on end users, the autoinjectors market is segmented into home care settings, hospitals & clinics, and ambulatory care settings. Of all these end-user segments, home care settings accounted for the largest share of the autoinjectors market in 2019. The large share of this end-user segment can primarily be attributed to the rapid growth in the geriatric population across the globe and the growing need for cost-effective drug administration.
Asia Pacificis projected to witness highest CAGR during the forecast period of 2020–2025.
Geographically, the autoinjectors market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. Growth in the Asia Pacific market is majorly driven by the large diabetes population and increasing healthcare expenditure which has drawn a number of major autoinjector device manufacturers to this region. These companies are increasing their presence in the Asia Pacific market through several approaches, such as establishing sales offices and partnering with local pharmaceutical companies.
The prominent players in this market are AbbVie Inc. (US), Mylan (US), Eli Lilly and Company (US), Ypsomed (Switzerland), Amgen (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), Teva Pharmaceutical (Israel), Antares Pharma (US), Merck KGaA (Germany).
· Antares Pharma (US) signed an agreement with Lunatus Global Medical Supplies (Dubai). In this agreement, Antares will supply packaged products to Lunatus and Lunatus will submit and obtain regulatory approval for XYOSTED in the UAE and Saudi Arabia as well as promote, market, and distribute XYOSTED in these two countries.
· SHL Medical (Switzerland) acquired Weibel CDS (Switzerland). This acquisition aimed at strengthening SHL Medical’s ability to provide more advanced drug delivery systems based on human-centered designs and functionality.
· Eli Lilly invested USD 470 million and created over 460 new jobs in Durham, NC. This expansion brought a new state-of-the-art pharmaceutical manufacturing facility to North Carolina’s research triangle park.
· Becton, Dickinson and Company (US) launched a disposable autoinjector namely BD Intevia 1ml Disposable Autoinjector. This activity will strengthen company’s autoinjector’s portfolio.