Autoinjectors Market size is set to grow by USD 134.01 billion from 2023-2027, AbbVie Inc., Amgen Inc. and Bayer AG, and more to emerge as Some of the Key Vendors, Technavio

NEW YORK, April 22, 2024 /PRNewswire/ -- The global autoinjectors market size is estimated to grow by USD 134014.58 million from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 25.14% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of  41%. 

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Major Players in the Market

Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:

AbbVie Inc., Amgen Inc., Bayer AG, Becton Dickinson and Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Halozyme Therapeutics Inc., Johnson and Johnson Services Inc., Johnson Medtech LLC, medmix Ltd., Merck KGaA, Owen Mumford Ltd., Pfizer Inc., RAVIMED Sp. zoo, Recipharm AB, SHL Medical AG, Teva Pharmaceutical Industries Ltd., Viatris Inc., Ypsomed AG

Analyst Review

The Autoinjectors Market encompasses innovative solutions for delivering biologic medications, particularly in the context of chronic disorders and self-administering therapy for emergency conditions such as anaphylactic shock. These devices, including autoinjector pens and syringes, offer needle-free alternatives for patients with needle phobia or anxiety related to anaphylactic shocks caused by food allergens. Healthcare professionals and pharmaceutical industries are increasingly embracing epinephrine autoinjectors, which provide a reliable and consistent dose of adrenaline during critical situations. Advanced technologies, such as Bluetooth connectivity, further enhance the utility of these devices, enabling real-time monitoring and ensuring optimal therapy management. The loss of exclusivity for some autoinjector brands may impact market competition, but the overall demand for these life-saving devices remains robust.

Key Market Drivers

Epinephrine autoinjectors are essential medical devices for managing severe allergic reactions, including anaphylactic shock. These self-administered devices provide intramuscular or subcutaneous therapy for various chronic conditions, such as asthma, hypertension, multiple sclerosis, and chronic inflammatory disorders. They are particularly crucial for patients with needle phobia or those experiencing emergency conditions, like anaphylactic shocks. Autoinjectors offer features like Bluetooth connectivity, dosage recording, safety locks, and automatic drug reconstitution, ensuring accurate and safe administration of epinephrine. As biologics lose exclusivity, the market for autoinjectors continues to expand, catering to a growing population of patients with chronic disorders. In home care settings, needle-free injectors and syringe-free drug delivery systems further enhance the convenience and accessibility of these medical technologies for diabetes, hormone deficiency, and rheumatoid arthritis patients. Healthcare professionals remain vital in educating patients on proper usage and ensuring the timely replacement of these essential devices.

Challenges and Opportunities

The global autoinjectors market is experiencing significant growth due to factors such as audio visual cues for easy use, connectivity via Bluetooth for dosage recording and safety locks, and the speed of injection. However, the market growth is anticipated to be tempered by the side effects of these devices. Spring-powered autoinjectors, used for administering drugs like Adrenaline for anaphylaxis or Epinephrine in EpiPens, can cause allergic reactions including anaphylaxis, dyspnea, bronchospasm, tongue edema, skin rash, and urticaria. Patients with chronic conditions such as Multiple Sclerosis, asthma, or hypertension, who self-administer intramuscular or subcutaneous therapies using autoinjector pens or syringes, are at risk for severe side effects. Health care providers and pharmaceutical industries are addressing these concerns by improving safety and accuracy through features like automatic drug reconstitution and safety locks. Drug viscosities and the treatment of chronic disorders continue to drive the demand for autoinjectors, despite the associated risks.

The Autoinjector market continues to evolve, with strategic alliances and partnerships driving business expansion. Biologics, including those for diabetes, rheumatoid arthritis, hormone deficiency, and chronic disorders, are increasingly utilizing autoinjectors for drug delivery. Needle phobia and anaphylactic shocks necessitate the use of epinephrine autoinjectors, such as the EpiPen, in home care settings. Healthcare professionals and patients alike benefit from needle-free injectors and audio-visual cues for self-administration. Spring-powered autoinjectors offer safety, accuracy, and speed, addressing various drug viscosities. Pharmaceutical industries collaborate with medical technology companies to develop autoinjector devices, incorporating connectivity and Bluetooth technology for improved therapy management. In emergency conditions, such as anaphylactic shock, these devices can be lifesaving. Autoinjector pens and syringes are used for multiple sclerosis treatments, asthma, hypertension, and other chronic disorders. Loss of exclusivity for some autoinjector drugs may impact market competition, but the overall growth potential remains strong.

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Market Overview

The Autoinjectors market encompasses a significant segment of the pharmaceutical industry. Lossses in needle-based drug delivery systems have led to the increasing adoption of Autoinjectors in Needs-based and preventive medicines. Anaphylaxis treatment and Epinephrine administration are prime applications for Autoinjectors. The devices offer benefits such as ease of use, portability, and improved patient compliance. The market is driven by factors such as the rising prevalence of chronic diseases, increasing geriatric population, and technological advancements.The future of Autoinjectors lies in the development of smart devices, combination products, and biosimilars. The market is expected to grow significantly due to these factors and the increasing demand for home healthcare.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio