Yahoo Finance Autoinjectors Market to reach 238.7 billion in 2030 with a CAGR of around 17.9% asserts Strategic Market Research. Lets make you acquainted with some of the most crucial statistics related to this market.
According to the research experts at Strategic Market Research the market for Autoinjectors was worth USD 46.0 billion in 2020 and is likely to reach a landmark of nearly USD 238.7 billion in 2030 with a robust CAGR of 17.9%.
New York, United States, May 23, 2022 (GLOBE NEWSWIRE) -- An autoinjector is regarded as a medical device that is primarily designed to provide a dose of a particular drug. These injectors were initially built to overcome the hesitation that is well associated with the self-administration of the needle-based drug delivery device. In terms of End-User, the home care setting possessed the highest share of the total Autoinjectors Market. It has accounted for about 52% of the entire market, and it is anticipated to do so throughout the forecasted period of 2020-2030. Moreover, on a regional basis, North America held the largest proportion of approximately 41% of the entire Autoinjectors market in the year 2020. However, on the other hand, the Asia-Pacific region is estimated to be the fastest-growing region of the market throughout the projected period of 2020-2030.
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The segmentation outline of the latest report published by Strategic Market Research on Autoinjectors Market are as follows:
By Therapy
Anaphylaxis
Diabetes
Multiple Sclerosis
Rheumatoid Arthritis
Other Therapies
By Type
Reusable Autoinjectors
Disposable Autoinjectors
By Route of Administration
Intramuscular
Subcutaneous
By End-User
Hospitals & Clinics
Home Care Settings
Ambulatory Care Settings
Regions
North America
Europe
Asia-Pacific
LAMEA
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TheAutoinjectors Market is anticipated to reach a landmark of USD 238.7 billion by the end of the year 2030 from USD 46.0 billion in 2020, at a CAGR of 17.9 percent during the forecasted period. The increase in the occurrence of Anaphylaxis and the rapid technological developments in the autoinjectors market are propelling the total market globally. Anaphylaxis is a condition wherein the patients usually suffer from a dangerous, life-threatening allergic reaction that is primarily caused due to drugs, latex, and Hymenoptera stings. Usually, an adrenaline autoinjector is used to treat Anaphylaxis. Anaphylaxis is a quite common condition that it is found in 1 out of every1333 cases, as reported by National Institute for Health and Care Excellence (NICE) studies.
In terms of therapy, the Rheumatoid Arthritis market segment possessed the maximum proportion of the market.
Based on therapy, the entire market is classified among Anaphylaxis, Diabetes, Multiple Sclerosis, Rheumatoid Arthritis and Other Therapies. Among these therapies, the Rheumatoid Arthritis market segment accounted for the largest share of the total Global Autoinjectors Market. It is primarily due to the increase in the number of people that are affected by arthritis. According to the national library of medicine, the global occurrence of Rheumatoid Arthritis between the years 1980 and 2019 was around 460 per 100,000 population.
By Type, the disposable autoinjectors market segment possessed the largest share of the Global Autoinjectors Market.
In terms of type, the disposable autoinjectors had the maximum portion of the totalAutoinjectors Market. It is mainly due to their ease of use and better build-in glass syringe quality, which further helps in eliminating the loading of glass syringes manually, thereby making it easier for the patients who have decreased dexterity or visual impairments. According to data that is collected by the Coalition for Safe Community Needle Disposal, it is anticipated that there are more than 7.5 billion syringes used in households on a yearly basis.
Based on route of administration, the subcutaneous market segment contributed to the largest share of Global Autoinjectors Market.
By route of administration, the subcutaneous market segment had the largest share in Global Autoinjectors Market. It is mainly due to the increase in the number of chronic diseases on a global basis and their rising treatment approvals by the various governmental regulatory bodies. According to National Health Council, about50% of all the adults are suffering from at least one chronic condition, and around 8 percent of children aged between (5 to 17) years were reported by their parents to have limited activities due to the prevalence of at least one chronic disease or disability.
Based on end-user, the home care setting accounted for the largest share of the Global Autoinjectors Market.
In terms of end-user, the home care setting had the largest market share in Global Autoinjectors Market in the year 2020.This is mainly because of the rise in the demand for cost-effective drug delivery system and the increase in the geriatric population. According to United Nations, there were approximately 703 million people who are aged 65 years or above globally in the year 2019.
Based on the region, North America accounted for the largest market share in Global Autoinjectors Market.
On a regional basis, North America possessed the largest share of the Global Autoinjectors Market, followed by the Asia Pacific. Currently, North America has an overall market share of approximately 41%. It is estimated to grow with a CAGR of 19-22% all throughout the forecasted period. An increase in the rate of chronic diseases and autoimmune diseases is the key reason behind its dominance. According to the National Stem Cell Foundation (NSCF), nearly 4% of the world’s population is heavily affected by more than 80 different types of autoimmune diseases. Among these diseases, the most prevalent ones are multiple sclerosis, type1 diabetes, lupus, rheumatoid arthritis, psoriasis, Cohn’s disease, and scleroderma.
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The major players that are covered in the Global Autoinjectors Market report are:
GlaxoSmithKline plc
Merck KGaA
Johnson & Johnson
Dickinson and Company
AbbVie Inc
Eli Lilly and Company
Antares Pharma
Amgen
Ypsomed
Mylan
Teva Pharmaceutical
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Global Autoinjectors Market: Recent Developments
In January 2022, the U.S. FDA (Food and Drug Administration) granted fast track designation for Antares Pharma, which is a specialty pharmaceutical company, for ATRS-1902.The development program for ATRS1902 assisted a proposed indication for the overall treatment of acute adrenal insufficiencyin adults and adolescents, using the Vai novel proprietary autoinjector platform to provide a stable liquid formulation of hydrocortisone.
In September 2021, Aidatus, a two-step mechanism autoinjector device which accommodates 1mL and 2.25 mL prefilled glass syringes, was introduced by Owen Mumford. Aidatus autoinjector is the first invented autoinjector that can accommodate two different prefilled volumes in the same device, thus minimizing the complexity and increasing patient satisfaction.
In August 2020, Saudi Arabia's supply and regulatory approval body XYOSTED allowed an agreement between Antares Pharma and Lunatus Global. According to the deal, Antares Pharma will look after the manufacturing and packaging processes while Lunatus Global will look after about the approvals, promotion, and distribution processes.
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