Auto-Injectors Market to touch a valuation of US$ 23.9 Bn by 2032, with rising at 21.4% CAGR | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Demand for auto-injectors in Japan is expected to grow at a CAGR of 21.3% over the next ten years. Demand for auto-injectors in Latin America is expected to increase at 20.3% CAGR during 2022-2032
NEWARK, Del, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The global auto injectors market is expected to reach a valuation of US$ 23.9 Bn by 2032, with the market growing at a stellar CAGR of 21.4% from the forecast period of 2022 to 2032. Valued at US$ 3.1 Bn in 2021, the auto injectors market is expected to reach an estimated US$ 3.5 Bn in 2022. Heightened incidences of various disorders like diabetes, anaphylaxis, multiple sclerosis and others propel the growth of auto injectors market. A surge in self administration of drugs also boost the market prospects of auto injectors during the forecast period.
Auto-injectors are medical tools that give a dose of a particular drug. These devices aid in decreasing the dependency on healthcare professionals to a certain extent. These specialized medical devices are helpful in lessening needle-related injuries as well as reducing needle phobia which is very common among patients. Owing to these factors along with higher accuracy, user-friendliness, and less pain, auto injectors are much preferred to traditional drug delivery systems. In addition to this, auto injectors deliver a painless and complete dosage of the drug. Convenience is another factor that is responsible for the astounding growth rate of the auto injectors market over the projected period.
Moreover, the escalation of chronic diseases across the world is leading patients to look for new treatments and disease management options. With traditional drug delivery approaches being time consuming, bothersome, inconvenient, and painful, many patients are turning to enhanced drug delivery methods like auto injectors to treat their illnesses and relieve symptoms. Consequently, the market for auto injectors is expanding at a rapid rate during 2022-2032.
“A swell in chronic diseases along with the rising demand for new and efficient drug delivery system is expected to propel the market growth of the auto injectors over the forecast period,” says an FMI analyst.
Key Takeaways:
Rising trend of administrating medical products at home is facilitating market expansion.
Stringent regulatory approvals, premium pricing, and recall of the products may hinder the market growth.
Increasing regulatory approvals drive the market growth in the U.S.
Auto injectors market in Canada is likely to register 19.7% CAGR.
Pre-filled auto injectors will record a 21.6% CAGR over the forecast period.
By indication, anaphylaxis will maintain market domination over the assessment period.
Becton, Dickinson and Company, Sanofi, Pfizer, Inc, Mylan N.V., Novartis AG, Bayer AG, Janssen Global Services, LLC, Antares Pharma, Inc., Amgen Inc, Eli Lilly and Company, Teva Pharmaceutical, Merck KgaA, GlaxoSmithKline plc, Ypsomed, SHL Medical, Gerresheimer AG, Midas Pharma GmbH, Aptar Pharma, Solteam Medical, Stevanato Group, E3D, and West Pharmaceutical Services, Inc., among others are some of the major players in the auto injectors market profiled in the full version of the report.
Leading market players are focusing on releasing new products and approvals. These businesses also engage in mergers, acquisitions, partnerships, collaborations, and price reduction to expand their consumer base
More Insights into Auto Injectors Market Report
In its latest report, FMI offers an unbiased analysis of the global auto injectors market, providing historical data from 2014 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product (pre-filled auto injectors, fillable auto injectors), indication (anaphylaxis, multiple sclerosis, rheumatoid arthritis, others), distribution channel (hospitals pharmacies, retail pharmacies, online pharmacies, drug store), and region.
According to the latest FMI reports, based on region, the auto injectors market in Canada is expected to present remarkable growth over the assessment period. The market in this country is predicted to register a CAGR of 19.7% during 2022-2032. Growing health awareness, high prevalence of chronic diseases, and increasing popularity of auto injectors drive the market growth in this region. Apart from Canada, the U.S. and Germany are also projected to undergo notable growth during this period of observation. While the U.S. market is propelled by the growing cases of diabetes and anaphylaxis, the auto injectors market in Germany is driven by the inclination to minimize the risk of needle-related injuries and a preference for auto injectors.
Based on segmentation, on the basis of product type, the pre-filled auto injector segment is expected to dominate the market. In terms of indication, the anaphylaxis segment will account for the highest CAGR while, on the basis of distribution channel, online pharmacies will witness the highest sales.
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