Autoinjectors Market to Reach $5.73 Bn, Globally, by 2027 at 18.1% CAGR: Allied Market Research
Rise in prevalence of anaphylaxis, increase in preference among patients to choose self-administration of injections, and technological advancements in autoinjectors fuel the growth of the global autoinjectors market
PORTLAND, Ore., Sept. 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Autoinjectors Market by Type (Disposable Autoinjectors and Reusable Autoinjectors), Application (Rheumatoid Arthritis, Anaphylaxis, Multiple Sclerosis, and Others), and End user (Homecare Settings and Hospitals & Clinics): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global autoinjectors industry was estimated at $1.50 billion in 2019, and is anticipated to hit $5.73 billion by 2027, registering a CAGR of 18.1% from 2020 to 2027.
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Drivers, restraints, and opportunities-
Rise in prevalence of anaphylaxis, increase in preference among patients to choose self-administration of injections, and technological advancements in autoinjectors fuel the growth of the global autoinjectors market. On the other hand, availability of alternative treatment options such as general injections and oral tablets impedes the growth to some extent. However, patent expiry of biologics to fuel biosimilar demands is expected to create lucrative opportunities for the key players in the industry.
- The outbreak of the pandemic has led to an increased demand for autoinjectors that can be used and monitored in the home environment.
- At the same time, although COVID-19 has brought effects on many aspects such as travel bans and quarantines, the restrictive measures have not been imposed on the healthcare industry, thereby leaving the global autoinjectors market unaffected.
The disposable autoinjectors segment to dominate by 2027-
Based on type, the disposable autoinjectors segment accounted for more than two-thirds of the global autoinjectors market share in 2019 and is expected to rule the roost by the end of 2027. The same segment is also anticipated to register the fastest CAGR of 18.4% throughout the forecast period. This is because the key market players are highly focused on the development of autoinjector devices.
The home care settings segment to maintain the dominant share-
Based on end user, the home care settings segment contributed to more than three-fifths of the global autoinjectors market revenue in 2019 and is anticipated to lead the trail till 2027. Simultaneously, the same segment would also manifest the fastest CAGR of 18.3% during the study period. This is due to increased patient preference for autoinjectors and rise in prevalence of anaphylaxis.
North America garnered the major share in 2019-
Based on geography, North America generated the highest share in 2019, garnering more than two-fifths of the global autoinjectors market. This is attributed to higher awareness among people, increased adoption of autoinjectors, higher number of the target population, supportive reimbursement policies, and availability of advanced devices in the region. Asia-Pacific, on the other hand, would grow at the fastest CAGR of 18.6% from 2020 to 2027.
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Key players in the industry-
- Antares Pharma
- Becton Dickinson and Company
- Johnson and Johnson
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd
- Eli Lilly and Company
- Novartis AG
- SHL Medical
- Ypsomed AG
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