Asia Pacific is expected to witness fastest growth during the forecast period of 2020–2025.
Northbrook, IL -- (SBWIRE) -- 12/15/2020 -- According to the new market research report "Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular Diseases, Diabetes), Type (Disposable, Reusable), Route of administration (Subcutaneous, Intramuscular), End User (Hospital) - Global Forecast to 2025", published by MarketsandMarkets™, the 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.
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The 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.
Diabetes segment is expected to show the highest growth in the forecast period.
The autoinjectors market, by therapy, is segmented into rheumatoid arthritis, multiple sclerosis, anaphylaxis, diabetes, multiple sclerosis, and other therapies (includes cardiovascular diseases, migraine treatment, anemia, and progesterone therapy). Diabetes mellitus, commonly known as diabetes, is a disease that arises from the insufficient production of insulin or the body's inability to utilize insulin. To maintain healthy blood glucose levels, diabetes patients need a daily intake of insulin or Glucagon-like peptide-1 (GLP-1). This scenario will provide companies with abundant opportunities to develop innovative solutions and cater the end user's demand.
Disposable autoinjectors accounted for the largest share of the autoinjectors market in 2020.
Based on type, the market is segmented into reusable and disposable autoinjectors. In 2019, the disposable autoinjectors segment accounted for the largest share of the global market. Disposable autoinjectors are the most-preferred autoinjectors due to their ease of use and the presence of a built-in glass syringe (eliminates the need of manually loading the glass syringe), which makes it more convenient for patients with reduced dexterity or visual impairment.
Home care settings segment accounted for the largest share and is expected to show the highest growth in the forecast period.
Based on end users, the autoinjectors market is segmented into home care settings, hospitals & clinics, and ambulatory care settings. Of all these end-user segments, home care settings accounted for the largest share of the market in 2019. The large share of this end-user segment can primarily be attributed to the rapid growth in the geriatric population across the globe and the growing need for cost-effective drug administration.
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Geographically, 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
The prominent players in this 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).