Autoinjectors Market size is expected to reach USD 186 billion by 2032, as per a new research report announced by Global Market Insights Inc.|
High prevalence of diabetes is a significant factor that will influence the demand for autoinjectors. Type 2 Diabetes is becoming increasingly common among younger patients, especially children that are suffering from obesity. A significant percentage of diabetes cases are reported across developing countries. By 2030, there will be 643 million diabetics worldwide, and by 2045, this number is estimated to reach 783 million.
Various companies are introducing reusable autoinjectors with disposable cassettes and electronic drive units. These types of autoinjectors contain the prefilled syringe and offer needle safety while optimizing the use of new innovator medications. Such advancements should attract more patients to adopt self-administrated therapies via autoinjectors. According to estimates, almost 80 autoinjectors have been created so far by more than 20 pharmaceutical companies. Moreover, nearly 50 medicines have been created as combination products to be used with autoinjectors.
Usage of autoinjectors in emergency situations
The intramuscular autoinjector segment held more than 7.9% autoinjectors market share in 2022. Anaphylaxis and allergic responses are some of the clinical conditions that are treated with intramuscular autoinjectors. Although the cost of autoinjector epinephrine is higher, using one may reduce the chance of dosage errors and injuries caused by manual administration. It is anticipated that the advantages of autoinjectors in emergency situations will spur product deployment during the forecast period.
Browse key industry insights spread across 175 pages with 213 market data tables & 15 figures & charts from the report, “Autoinjectors Market Size by Type (Disposable, Reusable), By Route of Administration (Subcutaneous, Intramuscular), By Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Diabetes, Oncology, Asthma, Migraine, Hormone Therapy), By End-use (Hospital & Clinics, Homecare Settings), Regional Outlook, Industry Analysis Report, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Rising asthma cases across the globe will fuel the demand for autoinjectors
Autoinjectors market share from the asthma therapy segment is projected to record a 12.3% CAGR from 2023 to 2032. Asthma symptoms are prevalent among 6.6% of adults, 9.1% of children, and 11% of adolescents, according to the Global Asthma Network (GAN) Phase evaluations. The low-income nations saw a modest drop in the prevalence of these symptoms when compared to lower-middle-income nations. According to the Indian Study on Epidemiology of Asthma, Respiratory Symptoms, and Chronic Bronchitis in Adults (INSEARCH), there are nearly 17 million asthma patients in India, with a prevalence rate of 2.05%. The rising number of respiratory issues and nasal problems among people affected by the COVID-19 virus could also contribute to segment growth.
Robust demand for autoinjectors across hospitals & clinics
The hospital & clinics end-use segment is likely to showcase a 12.7% CAGR during the forecast timeframe. An upsurge in the demand for autoinjector devices designed to meet the specific requirements of each treatment plan can be witnessed in the years to come. Data from clinical trials offer additional insights needed in the development of new medications to treat a variety of diseases that are managed parenterally. The rise in demand for autoinjector devices that are tailored to the needs of each treatment strategy may boost industry size.
New product developments by key players across Latin America
Latin America autoinjectors market is poised to observe a 12.2% CAGR by 2032. An increase in chronic diseases like diabetes and the risk of serious infections has elevated the need for novel drug therapy treatments across the region. Expansion in product availability across emerging countries across LATAM and the launch of novel products should shape the regional market outlook. Leading product manufacturers are also focusing on the development of new and improved devices.
Product innovations by key companies in the global autoinjectors market
Some of the key players in the autoinjectors industry are Antares Pharma, AbbVie Inc., GlaxoSmithKline Plc., Mylan, Ypsomed, Becton, Eli Lilly and Company, Dickinson and Company, Johnson & Johnson, Teva pharmaceuticals, and Amgen.