(PharmaNewsWire.Com, May 30, 2020 ) Autoinjectors are used to self-administer drugs for the treatment of various diseases and conditions, such as rheumatoid arthritis, multiple sclerosis, diabetes, and anaphylaxis. Autoinjectors are easy to use, portable, and improve dosing accuracy, making them one of the most popular methods for the self-administration of drugs.
The global autoinjectors market is projected to reach USD 85.31 billion by 2023 from an estimated USD 28.91 billion in 2018, at a CAGR of 24.2% during the forecast period (2018-2023).
Home care settings to dominate the autoinjectors market during the forecast period
A majority of autoinjectors are used for self-administration of drugs and are rarely recommended for hospital use to avoid the risk of infection due to use on multiple patients. This is a major factor in driving the market growth. Other factors such as the growing prevalence of chronic diseases and technological advancements are also boosting this market segment.
By therapy, the rheumatoid arthritis segment is expected to account for the largest share of the market in 2018
On the basis of therapy, the autoinjectors market is segmented into rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, and other therapies such as migraines, cardiovascular diseases, psoriasis, and anemia. In 2018, the rheumatoid arthritis segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to the high prevalence of rheumatoid arthritis across the globe.
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In 2018, North America is expected to account for the largest share of the autoinjectors market, followed by Europe. Factors such as increasing geriatric population in Canada, increasing FDA approvals, rising prevalence of anaphylaxis in the US, and rising prevalence of autoimmune and chronic diseases in the US and Canada are contributing to the large share of North America.
The key players in the global autoinjectors market are Abbvie (US), Amgen (US), Teva (Israel), Biogen (US), Eli Lilly (US), and Mylan (US). The other prominent players in the market are J&J (US), Novartis (Switzerland), Bayer (Germany), Merck (Germany), Biogen (US), Ypsomed (Switzerland), SHL Group (Taiwan) Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), and Haselmeier (Switzerland).
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