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 global autoinjectors market is projected to reach USD 85.31 billion by 2023 from USD 28.91 billion in 2018 at a CAGR of 24.2% during the forecast period. The growth of this market is primarily driven by factors such as the growing prevalence of targeted therapies, rising incidence of anaphylaxis, increasing number of regulatory approvals, and the availability of generic versions of autoinjectors.
The autoinjectors market is segmented on the basis of therapy, type, end user, and region. Based on therapy, the global autoinjectors market is segmented into rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, and other therapies (such as migraines, cardiovascular diseases, psoriasis, and anemia). The rheumatoid arthritis segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the high prevalence of rheumatoid arthritis across the globe.
Based on type, the market is segmented into disposable and reusable autoinjectors. The disposable autoinjectors segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the benefits disposable autoinjectors offer, such as portability, ease of use, and low possibility of infection.
Based on end user, the global autoinjectors market is categorized into home care settings and hospital & clinics. The home care settings segment is expected to register the highest CAGR during the forecast period due to the growing demand for self-administration drug delivery devices and the growing prevalence of chronic diseases.
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Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, the North American region is expected to account for the largest share of the market in 2018. The large share of this region can be attributed to the rising prevalence of autoimmune and chronic diseases, rising prevalence of anaphylaxis, and favorable reimbursement scenario in this region.
Preference for alternative drug delivery modes such as oral diabetic agents and epinephrine nasal sprays is expected to restrain the growth of this market during the forecast period to a certain extent.
The global autoinjectors market is dominated by 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).
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