The global autoinjector market is predicted to grow at 16.9% CAGR during the forecast period with the market size reaching USD 4.5 billion by 2024. The market is driven by the factorssuch as high prevalence of chronic and lifestyle associated diseases, increasing number of regulatory approvals, technology anddesign improvement, escalating patient attentiveness and inclination of patients regarding self-administration. The prefilled autoinjectors are the major contributor to the global market., as more patients preferred disposable injectors due to ease of their usage and lower chances of any contamination.
Market Report "Global Autoinjectors Market – Analysis and Forecast (2018-2024)
The market for autoinjector devices is primarily driven by the mounting self-medication practice, and promising reimbursements scenario and increased funding from government organizations, especially in the developed economies. The high prevalence of diabetes across the globe further propels the demand for these injectors globally. For instance, according to the World Health Organization (WHO ), globally the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. In addition, according to the International Diabetes Federation (IDF) in 2017, approximately 425 million adults were suffering from diabetes and are expected to reach 629 million in 2045 worldwide.
Contrary, the adoption of alternative drug delivery methods and high prices of autoinjectors pose a negative impact on the growth of the autoinjectors market.
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Based on product, the autoinjector market is categorized into prefilled and fillable injectors. Of the two products, prefilled injectors hold the larger share in the market and it is predicted that the product category will also grow at the faster CAGR during the forecast period. On the basis of type, the market is categorized into disposable and reusable injectors. Of the two, disposable injectors will witness higher growth during the forecast period.
Apart from the standard design autoinjectors are also available with custom designs. The customized injectors market size will increase at the faster during the forecast period, whereas, the standardized autoinjectors hold the larger share in the market
On the basis therapeutic application, the market is segmented into multiple sclerosis, anaphylaxis, rheumatoid arthritis, diabetes and others. Of all, the market for rheumatoid arthritis segment is expected to grow at the fastest rate in the market due to mounting occurrence of rheumatoid arthritis globally. For instance, according to Centers for Disease Control and Prevention, approximately 54.4 million adults in the U.S. suffered from arthritis in 2017.
Based on end users, market is segmented into hospitals and clinics, and home care settings. Owing to the increasing need for self-administration of drug, majority of autoinjectors are consumed for self-administration of drugs leading to the higher demand of autoinjectors in home care settings.
North America accounted for the major share in the autoinjector industry in 2017, globally as the players in the region are continuously investing capital for the research and development of autoinjectors for different therapeutic applications. Asia-Pacific is observed to witness fastest growth in the market, due to mounting occurrence of chronic and lifestyle associated diseases. In addition, escalating occurrence of anaphylaxis, growing medical tourism and mounting healthcare expenditure are also creating a positive impact on the autoinjectors market growth in the region.
Abbvie, Ypsomed, Consort Medical, Johnson & Johnson, Mylan, Becton, Dickinson and Company, Amgen, Haselmeier, ELI Lilly, Owen Mumford, Scandinavian Health Limited and Antares Pharma are the key players offering autoinjectors.
Global Autoinjector Market Coverage
Product Insight and Forecast 2014-2024
Type Insight and Forecast 2014-2024
Design Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Autoinjector Market by Region
Middle East & Africa (MEA)