PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1087025
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1087025
The global auto-injector market was evaluated at US$48.034 billion in the year 2020 and is projected to grow at a CAGR of 19.05% to reach a market size of US$162.789 billion by the year 2027.
Auto-injectors are syringes accompanied by a spring-charged needle with a pre-charged dosage of drugs or medicine. The convenience and user-friendliness offered by auto-injectors are increasing the demand for auto-injectors over conventional syringes. Autoinjectors are widely preferred over conventional syringes as they reduce anxiety and panic in patients compared to conventional syringes. The increasing cases of chronic diseases have boosted the market growth of the global auto-injector market. One of the major factors increasing the popularity and acceptability of auto-injectors over conventional syringes is the reduced anxiety caused by auto-injectors in patients. The pre-charged dosage of drugs in auto-injectors also increases the effectiveness and convenience of auto-injectors for medical practitioners. The percentage of errors reported in auto-injectors is lower than that of conventional syringes. The significant investments in research and technological developments in medical drug injection by major market players are also contributing to the market growth of the auto-injector market. The rising trend of home-based medical diagnosis and medical care also increases the demand for auto-injectors in the global market. The wide use of auto-injectors for the self-injection of epinephrine to prevent anaphylaxis is also boosting the market growth of auto-injectors as cases of anaphylaxis are increasing.
The outbreak of the COVID-19 pandemic had a positive impact on the market growth of auto-injectors. The lockdowns and isolations imposed by governments as a result of pandemic outbreaks mean all activities were focused on the home itself. Even medical diagnosis and medical care for lifestyle diseases and daily check-ups were also shifted to home-based medical diagnosis. The rising trend of home-based medical diagnosis has increased the market for auto-injectors in the global market. The difficulty in reaching hospitals during the pandemic made people rely on home-based medical diagnoses for lifestyle diseases and medication. The convenience and effectiveness offered by auto-injectors in-home healthcare increased the market demand for auto-injectors in the global market during the pandemic. The recharged doses in auto-injectors make it easier and more convenient for patients to self-administer drugs or medicine. However, the shutdown of manufacturing plants for auto-injectors during the lockdowns has hampered and lowered the growth rate of the global auto-injector market during the pandemic.
Rising cases of chronic diseases
The rising cases of chronic diseases are one of the major factors driving the market growth of auto-injectors in the global market. The increasing rate of anaphylaxis cases is pushing the market growth of auto-injectors as the drug for the treatment of anaphylaxis is usually self-administered to patients with the help of auto-injectors. According to the global overview of WAO (World Allergic Organisation), the percentage of anaphylaxis cases is mostly reported in adults compared to children. Adults or older people affected by anaphylaxis mainly seek the support of self-administered auto-injectors for the dosage intake of drugs like epinephrine. According to PAHO (Pan American Health Organisation), about 2% of the total American population is facing the effects of anaphylaxis. The rising trend of home-based medical care for lifestyle diseases and others is also fuelling the market growth of auto-injectors compared to conventional syringes. The benefits offered by auto-injectors in self-administration and effectiveness in dosage quantity are pushing the market value of auto-injectors in the global market.
Investment in companies
The significant investments offered by major market players in injectors and self-injectors are giving potential to the market growth of auto-injectors in the global market. The research and developments taking place in drug dosage administration are technically enhancing and developing the sector of auto-injectors. The support offered by the government in research and development in the medical field is also resulting in the growth of the auto-injector market. The large investments and involvement of companies like Amgen and Antares pharma are also leading to enhancement and development in the field of autoinjectors.
North America accounted for the largest share
Geographically, the North American region accounts for the major market share in the global auto-injector market. The increasing cases of anaphylaxis, arthritis, and other diseases in which auto-injectors are widely used are fuelling the market growth of autoinjectors in the North American region. The market growth of the auto-injectors market is followed by the Asia-Pacific region.
Market Segmentation:
Disposable autoinjectors
Reusable autoinjectors
Rheumatoid Arthritis
Anaphylaxis
Multiple sclerosis
Others
Homecare settings
Hospitals & Clinics
North America
South America
Europe
Middle East and Africa
Asia Pacific