Autoinjectors Market worth $104.9 billion by 2025 – Growing Prevalence of Targeted Therapies

PUNE, India, 2021-Aug-11 — /EPR Network/ —

The Key Growth Elements in Detailed?

The Autoinjectors Market growth is largely driven by the growing prevalence of targeted therapies, the rising incidence of anaphylaxis, rising preference for self-administration of drugs, usability advantages, the increasing number of regulatory approvals, the availability of generic versions of autoinjectors, favorable reimbursements and government support, and technological advancements. The patent expiry of biologics is also expected to provide growth opportunities for players in the market.

Worldwide Growth Opportunities in Terms of Revenue:

The Global Autoinjectors Market is projected to reach USD 104.9 billion by 2025 from USD 46.0 billion in 2020, at a CAGR of 17.9% from 2020 to 2025.

Opportunity: Need to limit patient visits and physical contact;

The current COVID-19 pandemic has resulted in the implementation of a fresh set of protocols that aim to reduce patient visits to hospitals and clinics in non-emergency conditions to prevent both the transmission of the virus as much as make sure healthcare institutions are not overwhelmed. In this situation, the preference for home-use autoinjectors has risen among patients suffering from chronic illnesses and allergies. This also protects vulnerable high-risk populations from exposure to the virus during hospital visits.

Autoinjectors are being developed to support increased viscosity and concentrations of drugs to reduce administration frequency, thus increasing adherence to recommended drug protocols. These factors present an opportunity for the growth of the autoinjectors market in the current COVID-19 scenario.

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Regional Growth, Development and Demand Analysis:

The autoinjectors market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. Growth in the Asia Pacific market is driven majorly by the large diabetes population and increasing healthcare expenditure in the regional countries have drawn a number of major autoinjector device manufacturers to this region. These companies are increasing their presence in the Asia Pacific market through several approaches, such as establishing sales offices and partnering with local pharmaceutical companies

Major Key Players Mentioned in the research report are:

The prominent players in autoinjectors market are AbbVie Inc. (US), Mylan (US), Eli Lilly and Company (US), Ypsomed (Switzerland), Amgen (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), Teva Pharmaceutical (Israel), Antares Pharma (US), Merck KGaA (Germany).

AbbVie markets its products worldwide through wholesalers, distributors, government agencies, healthcare facilities, specialty pharmacies, and independent retailers from AbbVie-owned distribution centers and public warehouses. The company is also entering into licensing arrangements, strategic alliances, co-promotion arrangements, co-development and co-marketing agreements, and joint ventures. The company focused on research and development to enhance its products and launch new products in autoinjectors market. For instance, in 2019, the company spent over USD 6 billion on R&D. AbbVie has a strong distribution network across 75 countries and major manufacturing facilities in the US.

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Recent Developments:

• In August 2020, Antares Pharma (US) signed an agreement with Lunatus Global Medical Supplies (Dubai). In this agreement, Antares will supply packaged products to Lunatus and Lunatus will submit and obtain regulatory approval for XYOSTED in the UAE and Saudi Arabia as well as promote, market, and distribute XYOSTED in these two countries
• In March 2020, SHL Medical (Switzerland) acquired Weibel CDS (Switzerland). This acquisition aimed at strengthening SHL Medical’s ability to provide more advanced drug delivery systems based on human-centered designs and functionality.