Autoinjectors Market Overview
Global Autoinjectors Market growth is expected to register a CAGR of 17.42% to reach USD 79,741 Million by 2024.
Autoinjectors are medical devices designed to deliver the dose of the drug. These are easy to use and are intended for self-administration by patients and physicians.
Autoinjectors have numerous advantages such as decreased needle phobia anxiety and maintain dose accuracy which in turn help in the growth of the market. The growing prevalence of targeted therapies, rising incidence of anaphylaxis, and the increasing number of regulatory approvals are factors responsible for market growth.
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Market Dynamics
The global autoinjectors market has been largely benefited by the rising incidence of anaphylaxis and the growing prevalence of targeted therapies. However, increased product recall and stringent regulatory policies are anticipated to restrain market growth.
Autoinjectors Market Segmentation
The disposable autoinjectors segment is expected to lead the market and register a substantial CAGR to reach USD 53,696.20 Million by the end of 2024. The increasing demand for testing new drugs and chemicals and vigorous growth in the pharmaceutical and biopharmaceutical sectors are expected to drive the market growth. Additionally, the disposable autoinjectors segment is also projected to exhibit the highest CAGR of 17.90% from 2019 to 2024.
Autoinjectors Market Key Players
The prominent players in the global autoinjectors market are Amgen Inc. (US), Becton, Dickinson and Company (US), AbbVie Inc. (US), Mylan N.V. (US), Eli Lilly and Company (US), Ypsomed (Switzerland), Owen Mumford Ltd (UK), Consort Medical (UK), SHL Group (Taiwan), Johnson & Johnson Services Inc. (US), Teva Pharmaceutical Industries Ltd (Israel) and Antares Pharma (US).
The players operating in the global autoinjectors market are focusing on product launches, along with expanding their global footprints by entering untapped markets.
Americas accounted for the largest market share of 40.6% in 2018, and the regional market is projected to register a CAGR of 16.60% during the forecast period. Asia-Pacific is expected to register the fastest CAGR. The Indian market is projected to exhibit the highest growth rate of 18.95% during the forecast period of 2019 to 2024.
The European market is estimated to exceed USD 24,307.74 million by 2024. The well-established healthcare infrastructure, technology advancement, and innovation in drug delivery systems, and rising prevalence of anaphylaxis incidences, diabetes, and cancer are the factors driving the growth of the autoinjectors market in the region. Germany is the major contributor to the growth of the regional market, followed by France.
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