LOS ANGELES, Feb. 04, 2021 (GLOBE NEWSWIRE) -- The Global Autoinjectors Market is expected to grow at a CAGR of around 17.2% from 2020 to 2027 and reach the market value of over US$ 137.6 Bn by 2027.
The global autoinjectors market is segmented based on therapy, usage type, route of administration, end-user, and geography. Based on therapy, the market is divided into, rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, and other therapies. Based on usage type, autoinjectors are bifurcated into disposable autoinjectors and reusable autoinjectors. By route of administration, the market is split into the subcutaneous and intramuscular routes of administration. Additionally, the end-use includes home care settings, hospitals & clinics, and ambulatory surgical centers.
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In 2019, North America held the major share (%) in terms of revenue in the global autoinjectors market. The presence of major players in the region including Antares Pharma, Becton, Dickinson and Company, AbbVie Inc., Mylan, Eli Lilly and Company, Amgen, and Johnson & Johnson is supporting the regional market value. The continuous efforts made by the players for increasing the sales of their products are boosting the regional market value. For instance, Becton, Dickinson, and Company (US) have launched a disposable auto-injector namely BD Intevia 1ml Disposable Autoinjector in November 2019. This strategic new product development and portfolio expansion are estimated to strengthen the company’s share in the autoinjector industry.
Asia Pacific is estimated to exhibit the fastest growth over the forecast period from 2020 to 2027. The major economies of the region including Japan, China, and India are the major revenue contributors. The developing economies are attracting major global players in the region for installing their manufacturing units or for expanding their sales channel due to increasing demand for auto-injectors is further accelerating the regional market value.
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Some of the leading competitors are AbbVie, Inc., Amgen, Biogen Idec, Eli Lilly, Johnson & Johnson, Mylan N.V., Owen Mumford, Pfizer, Inc., Sanofi, Scandinavian Health Ltd., Teva Pharmaceutical, Ypsomed, and others. Autoinjectors companies have announced mergers and acquisitions, partnerships and collaborations, and new product development in order to uplift their position in the auto-injectors industry. For instance, Switzerland based SHL Medical has acquired Weibel CDS, a Swiss medical technology company that specializes in research and development (R&D) of patch injection systems and devices for the delivery of parenteral drugs in March 2020. This strategic acquisition is intended to strengthening SHL Medical’s ability to provide more advanced drug delivery systems based on human-centered designs and functionality. Furthermore, major players are also moving into new regions with advanced technologies for gaining a competitive advantage.
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Some of the key observations regarding the autoinjectors industry include:
- Antares Pharma, a US-based specialty pharmaceutical company has signed an agreement with Dubai situated Lunatus Global Medical Supplies in August 2020. As per the signed agreement, Antares will supply packaged XYOSTED to Lunatus, and under this Exclusive Distribution Agreement Lunatus will submit and obtain regulatory approval for XYOSTED in the UAE and Saudi Arabia market. Additionally, the company will also promote and distribute XYOSTED in these two countries.
- A US-headquartered Eli Lilly and Company has invested US$ 470 million in January 2020 and has created over 460 new jobs in Durham, North Carolina. Under this expansion, the company has brought a new state-of-the-art pharmaceutical manufacturing facility at North Carolina’s research triangle park.
- In 2021, EVERSANA and Experic have announced that they will be partnering to aid life sciences companies in optimizing clinical development, manufacturing, launch planning, and commercialization efforts. US-based Experic supports every phase of a product’s life cycle from clinical to commercial scale, across a range of dosing and packaging formats including auto-injectors and pen assemblies among others.
- Phillips-Medisize has introduced the functions of its smart auto-injectors in 2019, which is changing the paradigm of usability, cost & size. The new development is the outcome of the growing demand for drug delivery device connectivity to improve patient adherence, care team collaboration, and health outcomes. Additionally, these smart and reusable auto-injectors work with a mobile application to track and transmit digital data from patients to physicians.
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