PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1286729
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1286729
The global autoinjector devices market is projected to reach USD 1.7 billion in 2028 from USD 0.9 billion in 2023, growing at a CAGR of 14.0%. Where as, the autoinjector finished formulations market is projected to reach USD 136.5 billion in 2028 from USD 59.6 billion in 2023, growing a CAGR of 18.0%. The key factors driving the growth of the autoinjectors market are the increasing availability of generic versions of autoinjectors and advantages offered by autoinjectors in emergency medical care is expected to propel the growth of the market. However, alternative modes of drug delivery such as oral, nasal, and topical among others are expected to restrain market growth to a certain extent.
The autoinjectors market has been segmented based on technology, usage, route of administration, volume, therapy area, end user and region.
"By technology, the manual autoinjectors segment accounted for the largest share of the autoinjectors market"
Based on technology, the autoinjectors market is categorized into manual, and automatic. The manual autoinjectors segment dominated the market in 2022, owing to the advantages that they offer. These include greater patient control, ease of use, improved safety and accuracy among others. Manual autoinjectors allow patinets and caregivers to administer the medication only when they are ready. This allows for more safe and accurate administration of medication dose.
"By end user, the home care settings segment accounted for the largest share in the autoinjectors market"
Based on end user, the autoinjectors market is segmented into home care settings, hospitals and clinics, and ambulatory care settings. In 2022, the home care settings segment accounted for a largest share of the autoinjectors market. Growth in this market segment can be attributed to relatively lower costs incurred for home care therapies than for treatments in hospitals and the ease of self-administration of drugs using autoinjectors.
"North America: the largest share of the autoinjectors market"
North America accounted for the largest share of the autoinjectors market. The large share of the North America region can be attributed to high awareness and adoption of self-administration of medication. Moreover, favorable reimbursements for autoinjectors has contributed to the growth of the market. Developed countries like the US and Canada have been observed to havehigher awareness and thus, adoption of self-administration drug delivery. This is supported by the favorable reimbursements offered by the government, insurance entities among others in the region.
"Asia Pacific: The fastest-growing region in the autoinjectors market."
The Asia Pacific autoinjectors market is projected to grow at the highest CAGR during the forecast period. This is attributed to the continuously growing pharmaceutical and biopharmaceutical industries offering generic versions of autoinjectors and growing number of approvals for autoinjector products in the region. Besides, the region has presence of large number of geratric population and a high prevalence of chronic disease including diabetes and cardiovascular diseases. Therefore, the adoption of self-administration of medication is expected to increasing owing to the high frequency of these medications.
Prominent Players
This report provides a detailed picture of the autoinjectors market. It aims at estimating the size and future growth potential of the market across different segments, such as the usage (reusable and disposable), technology (manual and automatic), route of administration (intramuscular and subcutaneous), therapy area (rheumatoid arthritis, multiple sclerosis, anaphylaxis, diabetes, and other therapy areas), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall autoinjectors market and its segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, trends, opportunities, and challenges.
The report provide insights on the following pointers"