“Autoinjectors Market By Type (Disposable, Reusable), By Application (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings), and By Region Forecast to 2028,” according to Zion Market Research.
According to Zion Market Research, the global autoinjectors market was worth USD 45.89 billion in 2020 and is predicted to grow to USD 170.16 billion in 2028, with a revenue CAGR of 17.7% from 2022 to 2028.
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Market Trends:
An autoinjector is a medical device that administers a specified amount of medication. The injectors were initially developed to help patients overcome their anxiety of utilising a needle-based drug delivery device on their own. The physical and psychological hazards and obstacles of delivering an injection are numerous. However, using an auto-injector has a number of benefits for both healthcare providers and users. It administers medication with a spray effect during administration, allowing it to be taken more swiftly and with improved bioavailability. Because the needle is enclosed inside the vial, it is convenient and helps to eliminate needle anxiety. This is a key element driving autoinjector usage and, as a result, global market revenue growth throughout the projection period. Furthermore, in the event of a natural disaster, medical management is exceedingly difficult because hospital access is either impossible or difficult. In such or Zion Marketcy instances, autoinjectors are particularly useful because they allow patient self-administration.
In recent years, autoinjector technology has evolved dramatically, and new advancements are broadening the application spectrum of revolutionary devices for a variety of therapies. One of the most common forms of autoinjectors is epinephrine autoinjectors, which are a pocket-sized drug used to treat anaphylactic shock. During a severe allergic reaction, epinephrine is a life-saving medicine that lowers the swelling of the airway. However, a lack of information about how to use an autoinjector, as well as the availability of other healthcare treatment choices such as oral tablets, could limit autoinjector market growth throughout the projection period.
COVID-19 Impact Analysis
• Businesses and operations were significantly hampered due to social alienation and limitations.
• Transportation and logistics were disrupted as a result of the lockdowns.
• Manufacturing and mining enterprises around the world have been impacted.
• It took a toll on the economies of a number of countries.
• Caused a sharp and rapid drop in economic activity
• Agriculture, fishing, dairy, and other industries have been disrupted.
• As a result, there was a loss of work and a financial catastrophe.
• Due to lower disposable income, supply effects were exacerbated.
• Variants in the Zion Market continue to raise concerns and disrupt usual activities.
Revenue from Rheumatoid Arthritis to Increase at a Rapid CAGR:
Because of the rising prevalence of rheumatoid arthritis around the world, the rheumatoid arthritis segment is predicted to grow at a high rate over the forecast period. Rheumatoid arthritis (RA) is a disease that causes joint inflammation and pain. It affects people of all ages, although the elderly are most vulnerable. In certain patients, RA can cause damage to a variety of body systems, including the eyes, lungs, skin, heart, and blood vessels.
Significant Revenue Growth in the Home Care Settings Segment:
The growing popularity of telemedicine, technological improvements in home care equipment, rapid expansion in the older population, and rising healthcare expenses have resulted in patient preference for home care therapeutic treatments, which is predicted to grow significantly over the forecast period.
North America will have the highest revenue share:
Due to ongoing technical breakthroughs in medical devices, an increasing number of patients suffering from diabetes and anaphylaxis, and favourable government policies, North America is likely to account for the biggest revenue share in the global market over the forecast period. Other factors predicted to contribute to market expansion in the region include rising demand for home healthcare devices and a strong presence of key competitors.
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The following are some of the market’s major players:
• Braun Melsungen AG
• AbbVie Inc.
• Mylan, Eli Lilly and Company
• Ypsomed
• Amgen
• Becton
• Dickinson and Company
• GlaxoSmithKline plc
• Johnson & Johnson
• Antares Pharma
Zion Market Research has divided the worldwide autoinjectors market by type, application, and geography for the purposes of this report:
By Type
● Reusable Autoinjectors
● Disposable Autoinjectors
By Application
● Hospitals & Clinics
● Home Care Settings
● Ambulatory Care Settings
Recent Developments:
➜ The US Food and Drug Administration (USFDA) recently approved Mounjaro (tirzepatide) injection, according to Eli Lilly. When paired with diet and exercise, this new GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist is supposed to help persons with type 2 diabetes better control their blood sugar levels.
➜ Otsuka Pharmaceutical Co., Ltd. (Otsuka) submitted an autoinjector dosage form for AJOVY Subcutaneous Injection 225 mg to Japan’s Ministry of Health, Labour, and Welfare in July 2021. (a generic name is fremanezumab).
➜ Novartis released new multicenter survey results in February 2021, revealing that persons with multiple sclerosis (MS) and nurses prefer the Sensoready® autoinjector pen for self-administration of Kesimpta® (ofatumumab) to other autoinjectors used for other disease-modifying medicines in MS1.
➜ The BD InteviaTM 1mL two-step disposable autoinjector was released in October 2019 by Becton, Dickinson and Company (BD). This sturdy platform device integrates an autoinjector and a pre-fillable syringe into a single unit. The pharmaceutical business can utilise BD Intevia 1 mL for a wide range of medications without changing any of the system’s pieces because it is created uniquely.
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