Autoinjectors Market Size to Surpass USD 233.69 Billion by 2030, exhibiting a CAGR of 11.2%
According to the report by Fortune Business Insights, the global autoinjectors market size is projected to reach USD 233.69 billion by 2030, at a CAGR of 11.2% during the forecast period, 2023-2030
Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Global autoinjectors market size valued at USD 102.51 billion in 2022 and market is anticipated to grow to USD 233.69 billion by 2030, recording a CAGR of 11.2% over 2023-2030. Growing prevalence of emergency conditions, such as anaphylactic shock, migraine attacks, due to insect bites and allergens is driving demand for biological therapies.
Fortune Business Insights™ shares this information in its report titled “Autoinjectors Market, 2023-2030.”
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*Key **Industry Development*
· *May 2022:* PiccoJect, a disposable two-step autoinjector specifically made for subcutaneous injection was launched by Medmix Drug Delivery. It has two variants (PiccoJect 100 and PiccoJect 225) for a standard 1 ml long or 2.25 ml pre-filled glass or plastic syringes.
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*Request a Sample PDF: *https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/autoinjectors-market-108507
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*Key Takeaways:*
· The increasing need for autoinjectors for treating chronic disorders is propelling market expansion.
· Increasing adoption of self-injection devices among patients are expected to augment market growth over the forecast period.
· The North American market was valued at USD 60.76 billion in 2022.
· The segment to register a comparatively higher CAGR over the projected period (2023-2030).
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*List of Key Players Profiled in the Market Report*
“Companies leading the global Autoinjectors Market are Viatris Inc. (U.S.), Teva Pharmaceuticals, Inc. (Netherlands), Ypsomed AG (Switzerland), Recipharm AB (Sweden), Becton Dickinson and Company (U.S.), Halozyme, Inc. (U.S.), AstraZeneca (U.K.), Bristol-Myers Squibb (U.S.), Phillips-Medisize (U.S.), SHL Medical AG (Switzerland), Xeris Pharmaceuticals, Inc. (U.S.)”
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*Report Scope & Segmentation*
*Report Coverage* *Details*
Forecast Period 2023 to 2030
Forecast Period 2023 to 2030 CAGR 11.2%
2030 Value Projection USD 233.69 Billion
Base Year 2022
Market Size in 2023 USD 111.16 billion
Historical Data 2019 to 2021
No. of Pages 150
Segments covered By Type, Application, By Route of Administration, Distribution Channel, and Region
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*Browse Complete Report Details: *https://www.fortunebusinessinsights.com/autoinjectors-market-108507
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*Segmentation*
*Growing Preference for Disposable Devices by Healthcare Experts Boosted Segment Expansion*
On the basis of type, the market is divided into disposable, and reusable.
The disposable segment held the highest share in 2022. Increasing adoption of single-use devices by patients, the growing prevalence of chronic diseases, and increasing preference for disposable devices by healthcare professionals are driving the segment growth.
*Surging Need for Injectable Insulin among the Diabetes Population Augmented Segment Growth*
By application, the market is classified into autoimmune disorders, diabetes, emergency care, and others.
The diabetes segment dominated with the largest market share. The surging need for injectable insulin among the rising diabetes population boosted the segment growth over the forecast timeframe.
*Intramuscular Segment Led Market* *Share owing to its Potential Benefits*
In terms of the route of administration, the global market is categorized into intramuscular and subcutaneous.
The intramuscular segment accounted for a higher market share. The segment growth is propelled by the great potential benefits of intramuscular products, including convenience, the rapid onset of action, and minimal pain among patients.
*Increase in Hospital Visits Fostered Hospital Pharmacies Segment Growth *
On the basis of distribution channels, the market is segregated into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment held the highest market share. The growing prevalence of chronic diseases, such as rheumatoid arthritis and diabetes, among the geriatric population and a rise in hospital visits to identify and treat these diseases are contributing to segment growth.
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*By Type*
· Disposable
· Reusable
*By Application*
· Autoimmune Disorders
· Diabetes
· Emergency Care
· Others
*By Route of Administration*
· Intramuscular
· Subcutaneous
*By Distribution Channel*
· Hospital Pharmacies
· Retail Pharmacies
· Online Pharmacies
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*Quick Buy - Autoinjectors Market Research Report: *https://www.fortunebusinessinsights.com/checkout-page/108507
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*Drivers and Restraints*
*Growing Preference for Self-injection Devices among Patients to Foster Market Growth*
Autoinjectors are gaining traction among patients due to these benefits over other conventional devices. A rise in the development and introduction of highly efficient and affordable self-injection and wearable devices is propelling the market expansion. There is a low risk of needle stick injuries due to the precise dosing quantities and already reconstituted drugs in these autoinjectors.
Rising recommendations for self-injection devices by healthcare experts are driving market growth. Growing awareness about drug delivery systems and increasing preference for self-injection devices at home among patients are the key aspects boosting market expansion. The wide availability of more efficient, user-friendly, and patient-compliant products is driving the demand for autoinjectors.
However, market growth is hampered by a lack of epinephrine injection devices across distribution channels.
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*Regional Insights*
*Rise in R&D initiatives is Driving Market Expansion in North America *
The market in North America was valued at USD 60.76 billion in 2022. The autoinjectors market share in the region is fueled by a rise in R&D initiatives and the introduction of advanced technologies in self-injection devices by leading companies to assist in patient treatments.
Europe is the second leading region in the global market. A rise in collaborations among manufacturers to enhance production and new injectable device approvals are boosting market development in the region.
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*Competitive Landscape*
*Key Market Participants Invest in Device Manufacturing Units to Meet the Rising Demand for Autoinjectors*
Key players in the global market include Viatris, Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., and other major companies. Increasing demand for autoinjectors is pushing top market participants to invest in device manufacturing units. Leading companies are focusing on acquisitions and collaborations.
In July 2023, the release of Breyna inhalation aerosol, the first generic form of AstraZeneca's Symbicort, was confirmed by Viatris Inc. and Kindeva Drug Delivery L.P. Patients with asthma or Chronic Obstructive Pulmonary Disease (COPD) are advised to use a drug-device combination product, Breyna.
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*Speak to Analyst: *https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/autoinjectors-market-108507
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*FAQ’s*
*How big is the autoinjectors market? *
The autoinjectors market size was valued at USD 102.51 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% during the forecast period.
*What is the current size of autoinjectors market?*
Global Autoinjectors Market size estimated at USD 111.16 billion in 2023 and is expected to reach USD 233.69 billion by 2030.
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*Related Reports:*
Injectable Drug Delivery Market Growth, Industry Analysis, Demand and Forecast
Connected Drug Delivery Devices Market Size, Share, Opportunities & Analysis
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· Autoinjectors Market