Global Auto-Injectors Market Continues Upward Trajectory, Projected to Reach US$67,200.1 Million by 2033 at a 8.2% CAGR

Posted on 2024-04-22 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Auto-Injectors Market

The global auto-injectors market is rising dramatically worldwide; by 2033, projections place the market’s estimated value at US$67,200.1 million. This noteworthy increase is the result of a strong 8.2% compound annual growth rate (CAGR) from its 2023 value.

Auto-injectors are self-administered medical devices that are intended to supply a single dose of a particular medication. These devices are usually used to treat long-term disorders such severe allergic reactions, autoimmune diseases, and allergies. These are incredibly helpful tools for patients who need injectable medicines since they are quick, simple to use, and convenient.

Auto-injectors are medical devices that provide a dose of a specific drug. These gadgets assist in reducing the need for medical professionals to some level. These cutting-edge medical devices help reduce needle-related injuries as well as the common needle phobia that many patients suffer. These characteristics, along with improved accuracy, user-friendliness, and decreased discomfort, make auto injectors far more common than traditional drug delivery methods. Additionally, auto injectors offer a thorough and painless way to administer the drug. Convenience is another factor fueling the auto injector market’s impressive development rate in the predicted period.

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The movement toward patient-centric care and the shift toward home-based healthcare have both contributed to the market’s growth. Auto-injectors help patients improve treatment adherence and reduce hospital visits by allowing them to self-administer medication.

There are a wide range of auto-injectors on the market to accommodate different medication requirements and therapeutic demands. Manufacturers are constantly coming up with new ideas to enhance device design, safety features, and customization possibilities so that patients have a wide range of options to suit their individual needs.

“The growing adoption of auto-injectors among healthcare experts is opening up intriguing possibilities for their application in diverse medical scenarios.”- says an FMI analyst

The development of connected and smart auto-injectors is a major trend in the automotive industry. These gadgets improve treatment monitoring and patient engagement by sending usage data and patient information to healthcare providers. Furthermore, home-use auto-injectors are becoming more and more common, enabling patients to effortlessly administer their own prescriptions. Pharmaceutical companies and auto-injector manufacturers are working together to create co-branded devices for certain treatments, which guarantees precise and user-friendly drug administration.

Key Takeaways from the Auto-Injectors Market:

Prefilled auto-injectors dominate the market, commanding an impressive share of 86.30% in 2023.
The anaphylaxis indication Segment exhibits remarkable strength, capturing an overwhelming share of 88.7% in 2023.
The United States auto-injectors market boasts a substantial share of 29.10% in 2023.
Germany established a notable market share of 8.80% in 2023.
Japan claims a respectable market share of 1.60% in 2023.
Australia secures a significant market share of 5.60% in 2023.
China showcases its market prowess with a substantial share of 8.00% in 2023.
India also feels its impact with a substantial market share of 8.30% in 2023.

Key Players in the Auto-Injectors Market Striving for Better Revenue Prospects

The auto-injectors industry boasts a highly competitive landscape with several prominent players vying for market share. Some notable participants include Becton, Dickinson, Company, Sanofi, Pfizer, Inc., Mylan N.V., and Novartis AG. These companies have established their dominance through innovative product offerings and strategic partnerships. Moreover, their extensive global presence enables them to cater to a wide range of therapeutic areas and patient populations.

Another key trend in the competitive landscape is the formation of strategic collaborations between pharmaceutical companies and auto-injector manufacturers. This collaboration results in co-branded devices for specific medications, ensuring precise and user-friendly drug delivery.

This approach has created a win-win situation, with pharmaceutical companies gaining a competitive edge by offering differentiated delivery solutions and auto-injector manufacturers benefiting from increased product demand. As the industry continues to evolve, these partnerships are expected to shape the competitive landscape further, driving innovation and expanding market reach.

Recent Developments in the Market:

Stevanato Group Signed an Exclusive Agreement for Aidaptus Auto-Injector: In May 2022, Stevanato Group signed an exclusive agreement with Owen Mumford Ltd. for its Aidaptus auto-injector. The Aidaptus auto-injector is designed for the self-administration of injectable drugs.
Antares Pharma Signed an Agreement for XYOSTED in the UAE and Saudi Arabia: In May 2023, Antares Pharma signed an agreement with Lunatus Global Medical Supplies for the distribution of XYOSTED, an autoinjector for the treatment of growth hormone deficiency, in the UAE and Saudi Arabia.
SHL Medical Acquires Weibel CDS: In May 2023, SHL Medical acquired Weibel CDS, a Swiss company that develops and manufactures autoinjectors. The acquisition may strengthen SHL Medical’s position in the autoinjector market.
Eli Lilly Invests in New Manufacturing Facility for Autoinjectors: In May 2023, Eli Lilly announced an investment of US$ 470 million in a new manufacturing facility for autoinjectors in Durham, North Carolina. The new facility is expected to be operational in 2025.
Ypsomed Launched a New Autoinjector Platform for Liquid Pharmaceuticals: In October 2022, Ypsomed launched a new autoinjector platform for liquid pharmaceuticals with capacities between 1.5 mL and 5.5 mL. The new platform is designed to be easier and more comfortable for patients.

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Key Companies in the Market:

Becton, Dickinson, and Company
Sanofi
Pfizer, Inc
Mylan N.V.
Novartis AG
Bayer AG
Janssen Global Services, LLC
Antares Pharma, Inc.
Amgen Inc
Eli Lilly and Company
Teva Pharmaceutical
Merck KgaA
GlaxoSmithKline plc
Ypsomed
SHL Medical
Gerresheimer AG
Midas Pharma GmbH
Aptar Pharma
Solteam Medical
Stevanato Group
E3D
West Pharmaceutical Services, Inc

Key Segments:

By Product:

Prefilled Auto-Injectors
Fillable Auto-Injectors

By Indication:

Anaphylaxis
Multiple Sclerosis
Rheumatoid Arthritis
Others

By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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