Wilmington, Delaware, United States, Transparency Market Research, Inc., Aug. 19, 2024 (GLOBE NEWSWIRE) -- The autoinjectors market (自動注射器市場) value was US$ 1.0 Billion in 2022 and is anticipated to record a CAGR of 16.2% from 2023 to 2031 and surpass US$ 3.8 Billion by the end of 2031.
Key Takeaways
- High Prevalence of Chronic Diseases Augmenting Autoinjectors Market Outlook
The autoinjectors industry growth is led by the rise in prevalence of chronic and lifestyle diseases across the globe. In 2023, 38.4 million people in the U.S. had diabetes, i.e. 11.6% of the population. Among them, 29.7 million were diagnosed, while 8.7 million had undiagnosed diabetes. Additionally, 1.7 million adults aged 20 years or older with diagnosed diabetes reported using insulin.
Chronic disorders such as rheumatoid arthritis and multiple sclerosis require regular medication administration. Rheumatoid arthritis (RA) is a chronic inflammatory disorder that attacks tissues in the body. This further affects the lining of the patient’s joints, causing a painful swelling that can eventually result in bone erosion and joint deformity. Rheumatoid arthritis usually affects the elderly; however, women are more likely than men to develop rheumatoid arthritis.
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As per the 2022 Australian Bureau of Statistics (ABS) National Health Survey, around 514,000 (2.0%) people in Australia were estimated to be living with rheumatoid arthritis.
Surge in prevalence of such diseases has prompted patients around the globe to increasingly demand medical devices that aid in easy self-administration. The usage of autoinjectors mitigates the requirement of medical professionals and enhances the overall quality of life.
- Strategic Collaborations Among Leading Autoinjectors Market Manufacturers
Key players operating in the biotechnology and pharmaceutical sectors are collaborating strategically to utilize their resources and experience. This trend is highlighted by the partnership between SHL Medical and MoonLake Immunotherapeutics.
In March 2023, SHL Medical, a global leader in advanced drug delivery solutions, announced that it had partnered with MoonLake Immunotherapeutics, a clinical-stage biotechnology company that specializes in developing next-generation treatments for inflammatory diseases, to develop an autoinjector based on SHL Medical's Molly autoinjector technology for usage in clinical trials and potential commercial supply of MoonLake's Nanobody sonelokimab.
In July 2024, Instron announced the launch of the next-generation Autoinjector Testing System for full functionality testing of pen and autoinjectors. Developed with close partnership with pharmaceutical companies and CDMOs, the system helps measure various essential performance parameters, including cap removal, dose accuracy, activation force, injection time, needle depth, and needle guard lockout.
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Autoinjectors Market Regional Insights
- North America to Dominate Autoinjectors Market Share
According to a report by WHO, the estimated number of people in the world who were alive within five years following a cancer diagnosis was 53.5 million. About one in five people develop cancer in their lifetime, while approximately one in nine men and one in 12 women die from the disease. Thus, the incidence of chronic diseases has been rising substantially across the globe.
North America is expected to lead the surge in the global autoinjectors industry during 2023 to 2031. This growth can be primarily ascribed to the early adoption of technologically advanced products, quick product approvals, and the rise prevalence of chronic diseases in the region.
Asia Pacific region also expected to record significant autoinjectors market growth in the near future, largely owing to the rise in expenditure on healthcare among the population.
Better access to advanced medical technologies, rise in awareness among patients in the region regarding various benefits associated with autoinjectors, and improvement in healthcare infrastructure are also augmenting market development.
Competitive Autoinjectors Market Landscape
Ypsomed Holding AG, Novartis AG, BD, Medmix Healthcare, Eli Lilly and Company, Sanofi, Mylan N.V., Amgen, Inc., SHL Medical AG, and Recipharm AB are some of the leading players operating in the global autoinjectors market.
- Ypsomed Signs a Deal with Novo Nordisk for Autoinjectors
In September 2023, Ypsomed and Novo Nordisk entered into a long-term supply agreement for vast quantities of autoinjectors. The medications for self-treatment in a range of metabolic conditions would be administered using autoinjectors. Through a series of phases, Ypsomed plans to significantly expand its yearly manufacturing capacity by 2031.
In order to meet the demands of numerous medications that are presently undergoing clinical trials, Ypsomed plans to extend its manufacturing capacity in the near future by providing large-scale delivery of YpsoMate 1ml autoinjector versions. A large portion of the funds being invested in the new, extra production facilities are coming from Novo Nordisk. Novo Nordisk will have access to the first step with a sizable capacity for producing YpsoMate autoinjectors by the end of 2025.
Market Segmentation
- Type
- Disposable
- Reusable
- Technology
- Handheld
- Wearable
- Route of Administration
- Subcutaneous
- Intramuscular
- Indication
- Multiple Sclerosis
- Rheumatoid Arthritis
- Diabetes
- Anaphylaxis
- Others (Oncology, Immunology, etc.)
- End-user
- Homecare Settings
- Hospitals & Clinics
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