The global auto injectors market size is expected to be valued US$ 23.9 billion by 2032, with a phenomenal compound yearly growth rate (CAGR) of 21.4% from 2022 to 2032. The market was valued at US$ 3.1 billion in 2021, and it is expected to reach US$ 3.5 billion in 2022. The rising prevalence of numerous ailments, such as diabetes, anaphylaxis, and multiple sclerosis, among others, can be contributed to the expansion of the auto injectors industry. Furthermore, the rise in medication self-administration boosts demand for auto injectors during the projection period.
Auto injectors are medical devices that administer a predetermined dose of medication. These devices lessen patients’ reliance on healthcare providers while also reducing needle-related injuries and needle phobia, which is a common problem among patients. Furthermore, when compared to traditional medication administration systems, auto injectors provide greater precision, user-friendliness, and less pain. They are chosen over other drug delivery systems because they provide a painless and complete dosage of the medicament. Furthermore, the convenience aspect is adding to the auto injectors market’s excellent growth rate during the forecast period.
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Furthermore, as chronic diseases spread around the world, patients are looking for novel treatments and disease management choices. Because traditional drug delivery methods are time consuming, unpleasant, and painful, many patients are turning to enhanced drug delivery methods such as auto injectors to treat their illnesses and relieve symptoms. As a result, the market for auto injectors is expected to grow rapidly between 2022 and 2032.
“A swell in chronic diseases along with the rising demand for new and efficient drug delivery system is expected to propel the market growth of the auto injectors over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising trend of administrating medical products at home is facilitating market expansion.
- Stringent regulatory approvals, premium pricing, and recall of the products may hinder the market growth.
- Increasing regulatory approvals drive the market growth in the US
- Auto injectors market in Canada is likely to register 19.7% CAGR.
- Pre-filled auto injectors will record a 21.6% CAGR over the forecast period.
- By indication, anaphylaxis will maintain market domination over the assessment period.
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Competitive Landscape
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, and West Pharmaceutical Services, Inc., among others are some of the major players in the auto injectors market profiled in the full version of the report.
Leading market players are focusing on releasing new products and approvals. These businesses also engage in mergers, acquisitions, partnerships, collaborations, and price reduction to expand their consumer base
More Insights into Auto Injectors Market Report
According to the latest FMI reports, based on region, the auto injectors market in Canada is expected to present remarkable growth over the assessment period. The market in this country is predicted to register a CAGR of 19.7% during 2022 to 2032. Growing health awareness, high prevalence of chronic diseases, and increasing popularity of auto injectors drive the market growth in this region. Apart from Canada, the US and Germany are also projected to undergo notable growth during this period of observation. While the US market is propelled by the growing cases of diabetes and anaphylaxis, the auto injectors market in Germany is driven by the inclination to minimize the risk of needle-related injuries and a preference for auto injectors.
Based on segmentation, on the basis of product type, the pre-filled auto injector segment is expected to dominate the market. In terms of indication, the anaphylaxis segment will account for the highest CAGR while, on the basis of distribution channel, online pharmacies will witness the highest sales.
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Key Market Segments Covered in Auto-Injectors Industry Research
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
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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