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Elevated Prevalence Of Chronic Diseases Sparks Growth In The Autoinjectors Market: An Emerging Driver Transforming The Autoinjectors Market Landscape
Autoinjectors
What Is the Projected Growth of the Autoinjectors Market?
In recent times, the autoinjectors market has experienced substantial growth. Projections indicate that it will expand from a valuation of $3.7 billion in 2024 to $4.55 billion in 2025, representing a compound annual growth rate (CAGR) of 22.8%. The historic growth trend in this market has been driven by factors including a rise in chronic diseases, an aging population, significant advancements in the biotechnology and pharmaceutical sectors, a preference among patients for self-administration, and legislative support.
The automobile injector market is anticipated to witness significant expansion in the forthcoming years, surging to a valuation of $10.07 billion by 2029, registering a compound annual growth rate (CAGR) of 22.0%. The surge projected in the forecast period can be credited to the broadening scope of therapeutic applications, escalating healthcare costs, amplified emphasis on patient-centric care, advancements in telemedicine and remote patient monitoring, as well as burgeoning markets. The forecast period is also expected to be marked by key trends such as tailored drug delivery, smart and connected autoinjectors, autoinjectors that don't require needles, biologic drug delivery, alongside safety and security attributes.
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What Are the Different Autoinjectors Market Segments?
The autoinjectors market covered in this report is segmented -
1) By Type: Disposable Autoinjectors, Reusable Autoinjectors
2) By Therapy: Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis, Other Therapies
3) By Route Of Administration: Subcutaneous, Intramuscular
4) By Distribution Channel: Online Retailer, Pharmacy
5) By End User: Home Care Settings, Hospitals And Clinics, Other End-Users
Subsegments:
1) By Disposable Autoinjectors: Single-Use Disposable Autoinjectors, Pre-filled Disposable Autoinjectors
2) By Reusable Autoinjectors: Multi-Use Reusable Autoinjectors, Rechargeable Reusable Autoinjectors
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What Are the Primary Drivers Shaping the Autoinjectors Market?
The autoinjectors market is forecasted to expand due to the rising instances of chronic diseases. These diseases require long-term medical care and persist for over a year. Major catalysts for death and disability worldwide include heart disease, cancer, rheumatoid arthritis, and diabetes. Autoinjectors are designed for recurrent injections of hormones and biologics in patients needing consistent dosage for chronic conditions such as diabetes and rheumatoid arthritis. For example, the American Cancer Society presented research in January 2022 predicting around 609,360 cancer-related deaths and 1.9 million fresh cases of cancer in the US in 2022, totaling approximately 1,670 deaths daily. This surge in chronic diseases propels the autoinjectors market upward as these devices offer a practical and efficient method for patients requiring frequent medication.
Which Companies Are Leading in the Autoinjectors Market?
Major companies operating in the autoinjectors market include AbbVie Inc., Mylan N.V., Eli Lilly and Company, Amgen Inc., Becton, Dickinson and Company, Johnson & Johnson, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Pfizer Inc., Bayer AG, Biogen Inc., AstraZeneca PLC, Haselmeier GmbH, Owen Mumford Ltd., Gerresheimer AG, Philip Morris International Inc., Oval Medical Technologies Ltd., Solteam Incorporation Co. Ltd., Elcam Medical Group (E3D) Ltd., Jabil Inc., Catalent Inc., SHL Medical AG, West Pharmaceutical Services Inc., Nemera Development S.A., Bespak Europe Ltd., AptarGroup Inc., Consort Medical plc, Terumo Corporation, Nipro Corporation, Medtronic plc, Integra LifeSciences Corporation, OssDsign AB, Xenco Medical LLC, Renishaw plc
What Are the Major Trends Shaping the Autoinjectors Market?
Technological evolution is influencing the dynamics of the autoinjectors market. The major market participants in the autoinjectors industry are pushing for the development of technical solutions to cater to the demand for an efficient delivery mechanism for viscous biologics. Case in point, Boehringer Ingelheim, a pharmaceutical firm headquartered in Germany, revealed in May 2023 that its Cyltezo Pen, an autoinjector alternative for Cyltezo (adalimumab-adbm), has gained authorization from the U.S. Food and Drug Administration (FDA). Cyltezo is sanctioned for the therapy of multiple chronic inflammatory disorders. The 40 mg/0.8 mL pre-loaded Cyltezo Pen will be available in package sizes of 2, 4, and 6.
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What Are the Top Revenue-Generating Geographies in the Autoinjectors Market?
North America was the largest region in the autoinjectors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the autoinjectors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Autoinjectors Market?
2. What is the CAGR expected in the Autoinjectors Market?
3. What Are the Key Innovations Transforming the Autoinjectors Industry?
4. Which Region Is Leading the Autoinjectors Market?
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