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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The overall autoinjectors market is expected to grow from USD 25.84 billion in 2017 to USD 85.31 billion by 2023, at a CAGR of 24.2% from 2018 to 2023. Autoinjectors offer several advantages, such as reduces the chances of needlestick injuries, reduce needle phobia anxiety, maintain consistency regarding dose accuracy, and aid in better efficacy, which, in turn, help in the growth of the market. The autoinjectors market is expanding with the technological advancement and new design development. These autoinjectors are being used in many therapies such as rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, and other therapies. The base year considered for the study is 2017, and the forecast has been provided for the period between 2018 and 2023.
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North America to dominate the market in 2018
In 2018, North America is expected to account for the largest share of the autoinjectors market, followed by Europe. Factors such as increasing geriatric population in Canada, increasing FDA approvals, rising prevalence of anaphylaxis in the US, and rising prevalence of autoimmune and chronic diseases in the US and Canada are contributing to the large share of North America.
The key players in the global autoinjectors market are Abbvie (US), Amgen (US), Teva (Israel), Biogen (US), Eli Lilly (US), and Mylan (US). The other prominent players in the market are J&J (US), Novartis (Switzerland), Bayer (Germany), Merck (Germany), Biogen (US), Ypsomed (Switzerland), SHL Group (Taiwan) Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), and Haselmeier (Switzerland).
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