Auto-Injectors Market Is Estimated to Grow At CAGR of 16.60%, 2022-2030 | Latest Industry Coverage By Growth Plus Reports
Growth Plus Reports
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Growth Plus Reports
Pune, Nov. 24, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Auto-Injectors Market by Product Type (Disposable Auto-injectors, Reusable Auto-injectors), by Disease Indication (Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis, Others), and by End-user (Hospitals, Home Care, Others) – Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the Auto-Injectors Market is expected to grow at a CAGR of 16.60% from 2021 to reach US$ 191.21 billion by 2030.
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The rise in demand for targeted therapies and self-administration is the primary driver propelling the global auto-injectors market. Furthermore, increased incidence of anaphylaxis, migraines and chronic diseases such as diabetes, rheumatoid arthritis, and multiple sclerosis is also a major driver of the global auto-injectors market. Auto-injectors have several advantages, including increased dosage quality and efficacy, decreased needle phobia, fewer needlestick injuries, and accidents, and increased dosage accuracy. The rise in biologics research and development, as well as the increasing approval of biologics and biosimilars, is facilitating the auto-injectors market growth. The adoption of cutting-edge technologies, the expiration of biologics patents, and increased investment by market leaders to manufacture affordable and reusable injectors are all expected to drive market growth.
The global auto-injectors market has been analyzed from three perspectives: Product type, diseases indication, end-user, and region.
Excerpts from ‘By Product Type Segmentation’
Based on product type, the global auto-injectors market is bifurcated into
Disposable
Reusable Auto-Injectors
The disposable auto-injectors hold the largest market share in 2021. The large share of disposable auto-injectors is primarily attributed to their ease of use. They have a built-in syringe, which eliminates the need for manual syringe loading and thus increases device safety. Biopharma companies are investing in advanced technologies to improve disposable auto-injectors. For instance, in March 2022, Ipsen announced to invest in new cutting-edge electronic auto-injector for Somatuline, Autogel / Somatuline Depot (lanreotide), to bring additional innovation to the class to improve administration and the injection experience for patients. This device will be made in collaboration with Phillips-Medisize.
Excerpts from ‘By Disease Indication Segmentation’
Based on disease indications, the global auto-injectors market is segmented into
Rheumatoid Arthritis
Multiple Sclerosis
Diabetes
Anaphylaxis
Other Therapies
The anaphylaxis segment dominates the market with the largest market share in 2021. Diabetes is another prominent application area for auto-injectors. The segment is growing due to the increased demand for insulin auto-injectors. According to the International Diabetes Federation, type 1 diabetes affects approximately 10% of the diabetes population, with about 1.2 million children and adolescents affected. Moreover, the demand for self-administer insulin in home care is also boosting segment growth.
Excerpts from ‘By Region Segmentation’
Based on region, the global auto-injectors market has been classified into
North America
Europe
Asia Pacific
The Rest Of The World
North America dominated the global auto-injectors market in 2021. Europe has the second-largest market for auto-injectors. The large share of the market can be attributed to the rising prevalence of anaphylaxis and chronic diseases such as diabetes, rheumatoid arthritis, and multiple sclerosis. According to the European Academy of Allergy and Clinical Immunology (EAACI) more than 150 million people in Europe suffer from chronic allergic diseases. In U.K., around 20% of the population has allergies. According to MRC Asthma UK Centre in Allergic Mechanisms of Asthma, approximately 20 to 30 deaths are caused due to allergies in the U.K. Moreover, the availability of top market players, a robust healthcare infrastructure, and high healthcare spending also fuels growth in European market.
Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global auto-injectors market are
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