Autoinjectors Market to Grow at 16.2% CAGR and Reach USD 3.8 Bn by 2031 | Excusive Research by Transparency Market Research

Emphasis on user-friendly designs, improved needle safety, and ergonomic features are driving manufacturers to introduce innovative products. Advent of next-gen autoinjectors with integration of electronic features is likely to create lucrative business opportunities

Wilmington, Delaware, United States, June 15, 2023 (GLOBE NEWSWIRE) -- The global autoinjectors market was valued at USD 1.0 Bn in 2022 and is projected to grow at a CAGR of 16.2% from 2023 to 2031.

Rise in incidence of chronic diseases such as diabetes, autoimmune diseases, and rheumatoid arthritis that requires accurate and frequent administration of medication is fueling the autoinjectors market. Increase in shift toward home healthcare and self-care is spurring demand for autoinjectors. Furthermore, ease of use and precision offered by autoinjectors are anticipated to fuel market expansion in the next few years.

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Manufacturers are consistently engaging in R&D to improve the functional and physical features of autoinjectors. Consequently, availability of technologically advanced autoinjectors is presenting lucrative opportunities for market players.

Autoinjectors are devices used to deliver a specific dose of medication to patients with or without the assistance of medical personnel. These devices have advanced considerably with the integration of electronic features, such as connectivity, dose memory, and audio-visual guidance, thereby enhancing patient monitoring.

Growth Drivers

  • Need for precise and frequent administration of medication for chronic diseases is fueling the autoinjectors market
  • Attributes of user-friendly design, along with compact size for easy handling augments demand

Regional Landscape

North America accounted for significant share of the global autoinjectors market in 2022. Growth in the region is ascribed to a robust healthcare infrastructure and high prevalence of chronic diseases. Significant awareness about the availability and usage of autoinjectors drives market statistics in the region.

Asia Pacific is anticipated to emerge as a key market during the forecast period. Government healthcare departments in countries such as China and India are focusing on healthcare reforms, which include expansion of healthcare facilities and promotion of self-care practices.

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Key Findings of Study

Increase in Prevalence of Chronic Diseases and Allergic Conditions – Chronic diseases, such as diabetes and rheumatoid arthritis, require regular administration of medication to manage the condition. This has spurred demand for autoinjectors as a convenient and user-friendly method for patients to self-administer medication, thereby reducing the dependence on healthcare professionals and improving quality of life.

Compact size and ease to handle features of autoinjectors make them particularly advantageous for patients who require frequent medication, allowing them to self-administer medication from any location.

Prevalence of various allergies such as anaphylaxis is fueling autoinjectors market development. Anaphylaxis is a life-threatening allergic reaction that requires immediate administration of medication. Autoinjectors such as EpiPens are specifically developed to administer precise dose of epinephrine during an attack.

Advancements in Technology Boosts Market Size – Advancements in technology is anticipated to propel the autoinjectors market value. These advancements entail various aspects, including connectivity, device design, usability, and safety features.

Device design is one of the key areas of improvement that manufacturers are engaged in. This involves simplifying the injection process, optimizing the ergonomics of the device, and ensuring accurate dosage delivery. For instance, advanced autoinjectors feature improved grip, ergonomic buttons, and clear markings to enable easy and precise administration of medication.

Connectivity of autoinjectors is another key aspect fueling market development. The integration of autoinjectors with digital devices such as smartphones enables remote monitoring, data collection, and personalized treatment management. This enables patients to receive reminders, share data with healthcare providers, and track their injections leading to better disease management.

Usability improvements have also played a key role in boosting market statistics. Autoinjectors now comprise features such as systematic instructions, audio-visual prompts, and feedback mechanisms for monitoring patients through the injection process. These user-friendly features help improve patient confidence in these devices, especially for individuals who have limited experience with self-administration.

Safety is of paramount importance, and technological advancements have helped to incorporate various safety features in autoinjectors. Needle stick injuries have reduced considerably through mechanisms such as automatic needle shields or needle retraction. Some devices also include sensors to alert if needle is placed incorrectly and prevent injection if not placed correctly, and thus ensures safe and precise delivery of medication.

Significant Demand for Disposable Autoinjectors Segment Boosting Growth – Based on type, the disposable segment held the leading market share in 2022 due to convenience and simplicity for patients as well healthcare providers.

Disposable autoinjectors are pre-filled with a specific dose of medication, which eliminates the need for manual filling or measurement of medication. Patients can conveniently self-administer their medication without the need to handle needles or deal with vials and syringes. Hence, simplicity of autoinjectors make them highly preferred, especially among individuals with limited experience or skill with self-administration of medication.

Competitive Analysis

The competitive landscape is fragmented, with the presence of large number players. Leading players are engaging in product development and M&As to expand market presence.

Prominent players in the autoinjectors market include Novartis AG, Eli Lilly and Company, and SHL Medical AG.

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The autoinjectors market is segmented as follows;

Global Autoinjectors Market, by Type

  • Disposable
  • Reusable

Global Autoinjectors Market, by Technology

  • Handheld
  • Wearable

Global Autoinjectors Market, by Route of Administration

  • Subcutaneous
  • Intramuscular

Global Autoinjectors Market, by Indication

  • Multiple Sclerosis
  • Rheumatoid Arthritis
  • Diabetes
  • Anaphylaxis
  • Others

Global Autoinjectors Market, by End-user

  • Homecare Settings
  • Hospitals & Clinics

Global Autoinjectors Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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