New York , Feb. 21, 2024 (GLOBE NEWSWIRE) -- The global auto-injectors market size is predicted to expand at 17% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 33 billion by the end of 2036, up from a revenue of USD 10 billion in the year 2023. Rising cases of rheumatoid arthritis which makes it difficult for patients to use injections for medicine administration is estimated to hike the market growth. Each year over 70 people are diagnosed with rheumatoid arthritis per every 100,000 people as per the survey.
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Additionally, the rising usage of biosimilars and biologics needs auto-injectors to retain the therapeutic value of the medicines. The demand for biosimilars across the world is growing on account of their safety, lower cost, and efficacy. The development cost of biosimilars is less than the biological drug which amplifies the requirement for biosimilars thereby fostering market growth in the coming years. Biosimilar production cost was determined to be nearly USD 100 to 200 million for 10 years while novel drugs cost around USD 3 billion. In 2022 the United States healthcare system saved more than USD 400 billion with the use of generic and biosimilar medicines as per the report.
Auto-Injectors Industry: Key Takeaways
- Market in North America region to propel the highest growth.
- The Anaphylaxis segment to garner the highest growth
- Market in Asia Pacific region to grow at the highest rate
Escalating Prevalence of Diabetes Around the Globe is Propelled to Boost the Growth of the Auto-Injectors Industry
The jet injectors are used to administer insulin to diabetic patients which are predicted to fuel the market growth in the coming years. The auto-injector method is reliable and less painful compared to injection methods that require high pressure to pass the insulin through the needle. As per the reports of the Centers for Disease Control and Prevention, 1.7 million people aged 20 years and above were diagnosed with diabetes and injected insulin in 2021 in the U.S.
Auto-Injectors Industry: Regional Overview
The global auto-injectors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Augmenting Spending in the Healthcare Sector Prophesied to Shoot Up the Market Growth in the North America Region
The North American region is determined to hold a significant market share of 45% in the year 2036 with the enlarging investments in the field of healthcare sector in the region. The extending number of expenditures for the development of infrastructure in the healthcare facilities to advance the facilities is protruded to fuel the market growth. The occurrence of chronic diseases among people of the region increases medical expenses. Single-dose self-injectors such as auto-injectors help to reduce these bills and frequent visits to the hospitals which is likely to have a positive impact on the growth of the market. As per the reports in 2021, the cost of a single night hospital stay in the U.S. was USD 3000.
Growing Preference for Other Drug Delivery Systems is Intended to Sprout the Market Expansion in the Asia Pacific Region
Asia Pacific region is outlined to secure a sustainable market share of 29% during the forecast period. The escalating demand for other drug delivery routes such as transdermal patches and auto-injectors is expected to strengthen the market progress in the coming years. The trends in the market are reckoned to rise as a result of the intensifying application of less invasive methods of treatments in the medical sector to acquire easy recovery and safe therapy methods. The presence of many pharmaceutical firms in the region is also analyzed to add to the market growth. The sales of Japanese pharmaceuticals in the year 2022 were approximated to be USD 150 billion.
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Auto-Injectors Market Segmentation by Disease Indication
- Rheumatoid Arthritis
- Multiple Sclerosis
- Diabetes
- Anaphylaxis
The anaphylaxis segment from the auto-injector market is proposed to register a significant market share of 35% during the forecast period i.e., between 2024-2036. The market is evaluated to grow owing to the increasing percentage of people suffering from food allergies. Food allergies usually occur in people who are obese, people with a deficiency of vitamin D, exposure to ambient chemicals, microbiological factors, and cleanliness. Many foods such as peanuts and cashews are healthy and can be poisonous for certain populations causing allergies. Sometimes these allergies are fatal as they cause severe reactions in the immune system leading to emergency therapy. About 7% of people in the U.S. suffer from food allergies as of 2023 studies. All these factors are the reason for the flourishing market segment growth in the coming years.
Auto-Injectors Market Segmentation by Product Type
- Disposable
- Reusable
The disposable segment of the auto-injectors industry is envisaged to register a notable share during the forecast period owing to the rising application of prefilled syringes. The prefilled syringes prevent the wrong dosage administration making it convenient for elderly and chronic patients who require to inject on a daily or hourly basis. It allows patients to deliver fixed doses of injections through subcutaneous layers. Regadenoson injection, a single-dose prefilled syringe was approved by the U.S. Food and Drug Administration in 2022 for the treatment of radionuclide myocardial perfusion imaging in people who cannot tolerate exercise stress.
Auto-Injectors Market Segmentation by End-User
- Home Care Settings
- Hospitals & Clinics
- Ambulatory Surgical Centers
Auto-Injectors Market Segmentation by Technology
- Manual
- Automation
Auto-Injectors Market Segmentation by Route of Administration
- Subcutaneous
- Intramuscular
A few of the well-known market leaders in the global auto-injectors market that are profiled by Research Nester are Eli Lilly and Company, Scandinavian Health Ltd., AbbVie, Inc., Amgen, Owen Mumford, Ypsomed, Biogen Idec, Mylan N.V., Pfizer, Inc., Sanofi, Stevanato Group, Teva Pharmaceutical, and others.
Recent Development in the Market
- Eli Lilly and Company declared the acceptance of the U.S. Food and Drug Administration for its Mounjaro injection (trizepatide) for patients with diabetes. The single-molecule drug will activate the receptors of GIP and GLP-1 in diabetic patients supporting the medicines they consume. The company also aids the physicians, insurers, and health systems in providing patient access to the Mounjaro.
- Stevanato Group along with Owen Mumford is about to accelerate the production of Adiaptus auto injector and facilitate pharmaceutical consumers the prefilled syringes to deliver their end product to the patients.
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