According to the new market research report “Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular diseases, Psoriasis, Migraine), Type (Disposable, and Reusable), End Users (Homecare, and Hospitals) – Global Forecast to 2023″, published by MarketsandMarkets™, The global autoinjectors market is projected to reach USD 85.31 billion by 2023 from an estimated USD 28.91 billion in 2018, at a CAGR of 24.2% during the forecast period (2018-2023). The key factors driving the growth of this market include the growing prevalence of targeted therapies such as rheumatoid arthritis and multiple sclerosis, rising incidence of anaphylaxis, and increasing number of regulatory approvals.
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On the basis of type, the autoinjectors market is segmented into disposable and reusable autoinjectors. The disposable autoinjectors segment is expected to account for the largest market share in 2017. This can primarily be attributed to their ease of use and the presence of a built-in glass syringe which makes it more convenient for patients with reduced dexterity or visual impairments.
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Autoinjectors are easy-to-handle and cost-effective medical devices that can be used by patients, caregivers, and even untrained personnel to deliver a dose of a particular drug. Autoinjectors are used by patients to manage autoimmune diseases and chronic diseases. They are used for a wide range of indications such as rheumatoid arthritis, multiple sclerosis, diabetes, and anaphylaxis.
Preference for alternative drug delivery modes such as oral diabetic agents, oral insulin, and epinephrine nasal sprays is a major factor restraining the growth of the market. Traditional injectables are invasive and painful modes of drug delivery owing to which patients and care providers are increasingly focusing on alternative routes of drug delivery, such as oral, topical, and nasal routes. Among the various routes of drug delivery, the oral route is the most preferred as it is easy to use, convenient, cost-effective, safe, and acceptable. Moreover, the introduction of needle-free drug delivery devices such as jet injectors also restricts the growth of the autoinjectors market.
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Key players in market include Abbvie (US), Amgen (US), Teva (Israel), Biogen (US), Eli Lilly (US), and Mylan (US). These players adopted growth strategies such as product launches, product approvals, agreements and expansions to maintain and enhance their position in the market. Other prominent players in the market include Ypsomed (Switzerland), Merck (Germany), AstraZeneca (UK), J&J (US), Bayer (Germany), Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), and Haselmeier (Switzerland).