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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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.
Use of autoinjectors in the treatment of rheumatoid arthritis drives the global autoinjectors market
Rheumatoid arthritis (RA) is a chronic, systemic, inflammatory autoimmune disease that affects connective tissues. It causes joints to swell and can result in pain, stiffness, and progressive loss of function. According to the CDC, an estimated 43.7 million adults (22.7% of the total population) in the US annually are affected by some form of arthritis, RA, gout, lupus, or fibromyalgia. Thus, the demand for autoinjectors for this therapy segment is fueled by the increasing incidence of RA across the globe. Among the various treatment options available for RA in the market, autoinjectors are the most advanced and convenient mode of tretment currently avialble in the market.
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North America to dominate the market in 2018
The autoinjectors market comprises a network of players involved in the research and product development; component manufacturing; distribution and sale; and post-sales services. Key players considered in the analysis of the autoinjectors market are Abbvie (US), Amgen (US), Teva (Israel), Biogen (US), Eli Lilly (US), and Mylan (US). The other prominent players are Merck (US), SHL Group (Taiwan), Ypsomed (Switzerland), AstraZeneca (UK), Becton Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), J&J (US), and Haselmeier (Switzerland).
Major Market Developments
- In April, 2018, Abbvie and Samsung Bioepis signed a licensing agreement to launch Humira biosimilar in Europe.
- In August, 2017, Amgen and Humana entered in to collaborative agreement for the development and research of medicines for multiple serious conditions including cardiovascular disease, osteoporosis, neurologic disorders, inflammatory diseases and cancer.
- In May, 2018, Received EU approval for Repatha autoinjector. Similarly, the company has launched Enbrel auto-touch auto-injector in November, 2017.
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