The global auto-injector market share is expected to grow to a significant valuation of US$ 30,578.2 million by 2023, demonstrating the market’s strong position in the healthcare sector. But what really has industry analysts talking is the incredible growth trajectory that is anticipated over the next ten years. It is projected that the market will reach a remarkable US$ 67,200.1 million by 2033. This market’s potential and expanding significance in efficiently delivering medical treatments are indicated by its predicted expansion.
The Auto-Injectors Market has witnessed significant growth in recent years, driven by the increasing prevalence of chronic diseases and the rising demand for self-administration of injectable medications. Auto-injectors are medical devices designed to deliver a pre-measured dose of medication through a spring-loaded mechanism, allowing patients to easily and safely administer injections on their own.
One of the key factors contributing to the market’s expansion is the growing prevalence of chronic conditions, such as diabetes, multiple sclerosis, rheumatoid arthritis, and anaphylaxis. These conditions often require regular and precise administration of medications, making auto-injectors a convenient and reliable option for patients to manage their health at home or on the go.
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Moreover, auto-injectors have become increasingly popular among patients due to their ease of use and reduced fear of needles. The devices are designed to be user-friendly, with simple activation mechanisms and clear instructions, making them suitable for patients of all ages, including children and the elderly.
Additionally, the growing trend of patient-centric care and the shift towards home-based healthcare have contributed to the market’s growth. Auto-injectors empower patients with the ability to self-administer medications, reducing the need for frequent hospital visits and improving treatment adherence.
The market offers a wide variety of auto-injectors, catering to different therapeutic areas and medication requirements. Manufacturers are continuously innovating to enhance device design, safety features, and customization options, offering patients a range of choices to suit their individual needs.
The global auto-injectors market is expected to be worth US$ 3.5 billion in 2022 and to expand at a CAGR of 21.4% between 2022 and 2032, reaching a value of US$ 23.9 billion in 2032. Diabetes, anaphylaxis, and multiple sclerosis are all on the rise, as is drug self-administration.
Auto-injectors are medical tools that give a dose of a particular drug. These devices aid in decreasing the dependency on healthcare professionals to a certain extent. These specialized medical devices are helpful in lessening needle-related injuries as well as reducing needle phobia which is very common among patients. Owing to these factors along with higher accuracy, user-friendliness, and less pain, auto injectors are much preferred to traditional drug delivery systems. In addition to this, auto injectors deliver a painless and complete dosage of the drug. Convenience is another factor that is responsible for the astounding growth rate of the auto injectors market over the projected period.
Moreover, the escalation of chronic diseases across the world is leading patients to look for new treatments and disease management options. With traditional drug delivery approaches being time consuming, bothersome, inconvenient, and painful, many patients are turning to enhanced drug delivery methods like auto injectors to treat their illnesses and relieve symptoms. Consequently, the market for auto injectors is expanding at a rapid rate during 2022 to 2032.
“A swell in chronic diseases along with the rising demand for new and efficient drug delivery system is expected to propel the market growth of the auto injectors over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising trend of administrating medical products at home is facilitating market expansion.
- Stringent regulatory approvals, premium pricing, and recall of the products may hinder the market growth.
- Increasing regulatory approvals drive the market growth in the U.S.
- Auto injectors market in Canada is likely to register 19.7% CAGR.
- Pre-filled auto injectors will record a 21.6% CAGR over the forecast period.
- By indication, anaphylaxis will maintain market domination over the assessment period.
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Competitive Landscape :
Becton, Dickinson and Company, Sanofi, Pfizer, Inc, Mylan N.V., Novartis AG, Bayer AG, Janssen Global Services, LLC, Antares Pharma, Inc., Amgen Inc, Eli Lilly and Company, Teva Pharmaceutical, Merck KgaA, GlaxoSmithKline plc, Ypsomed, SHL Medical, Gerresheimer AG, Midas Pharma GmbH, Aptar Pharma, Solteam Medical, Stevanato Group, E3D, and West Pharmaceutical Services, Inc., among others are some of the major players in the auto injectors market profiled in the full version of the report.
Leading market players are focusing on releasing new products and approvals. These businesses also engage in mergers, acquisitions, partnerships, collaborations, and price reduction to expand their consumer base
More Insights into Auto Injectors Market Report :
In its latest report, FMI offers an unbiased analysis of the global auto injectors market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product (pre-filled auto injectors, fillable auto injectors), indication (anaphylaxis, multiple sclerosis, rheumatoid arthritis, others), distribution channel (hospitals pharmacies, retail pharmacies, online pharmacies, drug store), and region.
According to the latest FMI reports, based on region, the auto injectors market in Canada is expected to present remarkable growth over the assessment period. The market in this country is predicted to register a CAGR of 19.7% during 2022-2032. Growing health awareness, high prevalence of chronic diseases, and increasing popularity of auto injectors drive the market growth in this region. Apart from Canada, the U.S. and Germany are also projected to undergo notable growth during this period of observation. While the U.S. market is propelled by the growing cases of diabetes and anaphylaxis, the auto injectors market in Germany is driven by the inclination to minimize the risk of needle-related injuries and a preference for auto injectors.
Based on segmentation, on the basis of product type, the pre-filled auto injector segment is expected to dominate the market. In terms of indication, the anaphylaxis segment will account for the highest CAGR while, on the basis of distribution channel, online pharmacies will witness the highest sales.
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Key Segments:
By Product:
- Prefilled Auto-Injectors
- Fillable Auto-Injectors
By Indication:
- Anaphylaxis
- Multiple Sclerosis
- Rheumatoid Arthritis
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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