Autoinjectors Market refers to the medical device industry segment that deals with the production and distribution of autoinjectors. Autoinjectors are self-administration devices designed to deliver a single, pre-measured dose of medication to patients. They are particularly useful for people who need to manage chronic conditions or require emergency treatment.
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Autoinjectors Market in terms of revenue was estimated to be worth $0.9 billion in 2023 and is poised to reach $1.7 billion by 2028, growing at a CAGR of 14.0% from 2023 to 2028 according to a new report by MarketsandMarkets™. Whereas, the autoinjector finished formulations market is projected to reach USD 136.5 billion in 2028 from USD 59.6 billion in 2023, growing a CAGR of 18.0%. Some of the prominent factors driving the growth of this market are favorable government support and reimbursements and growing number of regulatory approvals for autoinjectors.
Key features and benefits of autoinjectors include:
Ease of Use: Autoinjectors are designed to be user-friendly and allow patients to administer medication themselves, eliminating the need for healthcare professional assistance in many cases.
Accuracy: Autoinjectors deliver precise doses of medication, ensuring consistent treatment for patients.
Safety: Autoinjectors are equipped with safety mechanisms to prevent accidental needlesticks and misuse.
Portability: They are compact and easy to carry, making them ideal for patients who need to self-administer medication on the go.
Growing Market: The market for autoinjectors has been expanding due to an increase in the prevalence of chronic diseases, a rise in the number of biologic drugs that require subcutaneous administration, and the growing emphasis on self-care and patient empowerment.
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Autoinjectors are commonly used to deliver medications for various conditions such as multiple sclerosis, rheumatoid arthritis, allergies, anaphylaxis, and diabetes, among others.
Major pharmaceutical companies and medical device manufacturers compete in the autoinjectors market, and ongoing research and development efforts aim to improve the design, functionality, and compatibility of these devices with different medications.
Key Market Players
The market for autoinjectors is consolidated, with key players strategizing to capture the market. Prominent players in the autoinjector devices market are Becton, Dickinson and Company (BD) (US), Ypsomed Holding AG (Switzerland), SHL Medical (Switzerland), West Pharmaceutical Services, Inc. (US), Recipharm AB (Sweden), Haselmeier GmbH (Germany), Owen Mumford Ltd. (UK), Philip-Medisize, LLC (US), Oval Medical Technologies Ltd. (UK), Kaleo, Inc. (US), Solteam Incorporation Co., Ltd. (China), Antares Pharma, Inc. (US), and the some of the major market players for finished formulations include AbbVie Inc. (US), Amgen Inc. (US), Eli Lilly and Company (US), Novartis AG (Switzerland), Merck KGaA (Germany), Viatris Inc. (US), and Biogen (US).
Europe: The second-largest region in the autoinjectors market.
The European autoinjectors market is the second-largest autoinjectors market globally, mainly due to factors such as presence of a large geriatric population in the region and the improving reimbursement and regulatory scenario. The presence of large geriatric population in the region is expected to increase the prevalence of chronic diseases leading consequently leading to growing adoption of autoinjectors for treatment of these disease. The favorable reimbursement and regulatory scenario is expected to further support market growth.
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