Autoinjectors Market Is Projected To Reach USD 104.9 Billion By 2025, At A CAGR Of 17.9%
Summary
- What the Market Looks Like?
- What Drives the Market?
The COVID-19 pandemic has resulted in a global healthcare crisis, causing a shift in healthcare delivery in most regions. Most non-essential procedures and in-hospital therapies were deferred in the first half of 2020 to prevent the spread of the infection and ease the toll on healthcare infrastructure.
What the Market Looks Like?
The global autoinjector 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. Autoinjector market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
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.
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What Drives the Market?
The growth of the Autoinjector market is primarily influenced by the following factors:
- Growing prevalence of targeted therapies
- Rising incidence of anaphylaxis
- Increasing number of regulatory approvals
- Availability of generic versions of autoinjectors
- Favorable reimbursements and government support
- Ease of use increasing the preference for self-administration
Autoinjectors are being developed to support increased viscosity and concentrations of drugs to reduce administration frequency, thus increasing adherence to recommended drug protocols. These factors present an opportunity for the growth of the autoinjectors market in the current COVID-19 scenario.
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). In 2019, rheumatoid arthritis accounted for the largest share of autoinjectors market.
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