Newark, NJ, Feb. 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global autoinjectors market is expected to grow from USD 1.00 billion in 2020 and to reach USD 4.58 billion by 2028, growing at a CAGR of 20.84% during the forecast period 2021-2028.
Epinephrine is vital for treatment of anaphylaxis. The pharmaceutical companies are developing advance epinephrine auto-injectors for treatment of anaphylaxis. These technological advancements include features such as portable devices, innovative designs, multiple auto-injectable doses in a single device, etc. Apart from this the manufacturers are also working upon the temperature stability and shelf life of the devices; and automation of the devices so that the patients can be informed about the successful drug delivery once the dose is delivered to them. The conventional injectables consists of syringes and vials; thus, the manufacturers are developing drugs which can be provided via alternative mode of administration such as oral, nasal and topical. Most of the consumers prefers oral route of administration as it is convenient and easy to use. Also, it is effective and safe; which has resulted in increased demand among consumers as well as suppliers. However, the development of needle-free delivery of drugs is restraining the market growth.
An autoinjector is a therapeutic equipment designed to give a shot of a particular drug. The autoinjectors were produced by analyzing the skepticism associated with self-administration by drug delivery devices that are needle-based. Most of the autoinjectors are disposable, spring-loaded and one-use syringes. Autoinjectors are intended for handling by inexperienced individuals and self-treatment by patients. These are easy to use. The injection site is dependent on the loaded drug, but it is generally delivered into the buttocks or the thigh. Injectors are essentially triggered by simply thrusting the nozzle against the position of the needle. In particular devices, the protective cap is basic safety. Other devices use a protection mechanism associated with nail guns. The injection is triggered by pressing the nozzle upon the needle's position and concurrently, while applying force, pushing a trigger switch at the rear point of the device. As autoinjectors include a hypodermic needle, it has the potential to create biohazard to waste management workers. Therefore, the protective cap is made to keep the needle sterilized and preserve the medication as well as offer sufficient sharps waste confinement after disposal.
Further, OEMs are facing difficulties in development of single-design auto-injectors which can be used for multiple drugs. The viscosities of different drugs are varied and thus developing a single design injectable is proving to be a challenge for the manufacturers; as varied viscosity drugs require the spring that have different characteristics such as length, thickness, etc. Hence, this factor is restricting the growth of the market. Moreover, Covid-19 has driven the growth of the market. Due to the stringent regulations imposed during covid-19, the use of self-use auto-injectables has increased among the patients especially those are suffering from any type of chronic disease. This has even helped to curb the spread of the virus as lesser number of patients had visited the hospitals during this time.
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Key players operating in the global autoinjectors market include Owen Mumford, Teva Pharmaceutical, Mylan N.V., Sanofi, Amgen, Biogen Idec, Pfizer, Inc. and Ypsomed. To gain a significant market share in the global autoinjectors market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The anaphylaxis segment had the highest share of 27.48% in 2020
The disease indication segment includes anaphylaxis, diabetes, multiple sclerosis and rheumatoid arthritis. The anaphylaxis segment held the highest share in 2020 as the allergy is a highly prevalent chronic condition. Many patients with different kinds of allergies fear of potential death, asthma attack or anaphylactic shock from certain allergies. It resulted in the growth of anaphylaxis segment in autoinjectors market.
The home care settings segment is expected to show the highest share over the forecast period
The end-use segment includes ambulatory surgical centers, hospitals & clinics and home care settings. The home care settings segment is anticipated to show the highest share over the forecast period. Various factors are expected to contribute to the growth of the segment, such as an increasing number of diabetes patients, increasing population of senior citizens and the growing adoption of healthcare devices utilized at home.
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Regional Segment Analysis of The Autoinjectors Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global autoinjectors market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America had the highest share in 2020. The contributing factors to the growth of the market are the massive demand for quality products, superior healthcare infrastructure and medical device technologies. Skin allergies and food allergies are more prevalent in North America. There is a vast requirement for emergency care due to allergic reactions, specifically in children.
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About the report:
The global autoinjectors market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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