According to the deep-dive market assessment study by Growth+ Reports, theGlobalAuto-InjectorMarket was pegged at ~US$ 48 billionin 2021. The market is expected to witness a CAGR of ~17.6% from 2022 to 2030.
The primary driver of the globalauto-injectors market is the demand for targeted treatments and self-administration.Furthermore, the prevalence of anaphylaxis, migraines and chronic diseases like diabetes, rheumatoid arthritis, and multiple sclerosis is also a major factor driving the market growth.Auto-injectors have several advantages, including increased dosage quality and efficacy, decreased needle phobia, fewer needle stick accidents, and increased dosage accuracy, thus supporting the auto-injectors market growth. Furthermore, the rise in biologics research and development and the increasing approval of biologics and biosimilars augment the demand for auto-injectors. The use of cutting-edge technologies, the expiration of biologic patents, and increased investment by leading players in producing affordable and reusable devices are all anticipated to fuel the expansion of the global auto-injectors market.However, the global auto-injector market is constrained by the availability of substitutes such as oral tablets, nasal sprays, and jet injectors.Moreover, the high cost associated with auto-injectors and the strict regulations regarding device approval restricts the market expansion.
Anaphylaxis and chronic diseases such as diabetes, rheumatoid arthritis, and multiple sclerosis are becoming more common. According to the World Allergy Organization (WAO), the incidence of anaphylaxis in children ranges between 1 and 761 per 100,000 people per year. The recurrence of anaphylaxis is approximately 26.5% - 54% during the follow-up period, which ranges from 1.5 to 25 years, which is increasing the demand for epinephrine, the first line of treatment for anaphylaxis, thus boosting the growth of the auto-injectors market.
The increased innovation related to biologics and biosimilars is also a key growth factor as most biologics and biosimilars have specificity and have intravenous and intramuscular administration, thus increasing the demand for auto-injectors.There are around 33 FDA-approved biosimilars till January 2022 in the United States, of which 21 are now on the market. The U.S. FDA approved 53 biologics in 2020.
The key features of novel devices include a rise in the investments from the prominent players and the adoption of advanced technologies, such as built-in safety measures to avoid accidental activation, reduced risk of needlestick injuries, and a wide range of dosages. For instance, in February 2022, Antares Pharma, Inc. (Halozyme Therapeutics, Inc.) developed a novel Vai auto-injector device. It is a simple two-step injection process used in emergency and non-emergency situations. Antares Pharma is developing a stable liquid formulation of hydrocortisone for treating adrenal crises utilizing the Vai auto-injector platform. The product is currently in phase 1 of clinical trials.
However, the availability of alternate drug delivery options such as oral tablets, nasal sprays, and jet injectors is restricting the growth of the global auto-injectors market. The oral route is the most commonly used because it is simple, convenient, cost-effective, safe, and acceptable. Moreover, the presence of needle-free devices such as jet injectors also restricts the market growth. A further benefit of needle-free devices is that they do not cause needle fear, a major barrier to the widespread use of injectable medication therapies.
The Asia Pacific is projected to be the fastest-growing regional auto-injectors market. The region's rapid expansion can be primarily due to factors such as the rising incidence of diabetes. According to National Center for Biotechnology Information, more than 60% of people in Asia have diabetes. Moreover, rapidly expanding healthcare infrastructure and increasing research and development expenditures drive market growth. Countries such as India, China, and Japan are expected to present considerable growth opportunities due to the untapped opportunities.
Some prominent players operating in the global auto-injectors market are Mylan N.V., AbbVie Inc., Eli Lilly and Company, Amgen Inc., Becton, Dickinson and Company, Ypsomed Holding AG, Johnson & Johnson, Teva Pharmaceutical Industries Ltd, Pfizer Inc., Merck KGaA, Owen Mumford, Halozyme Therapeutics, GlaxoSmithKline plc, Biogen Inc., Sanofi S.A., and Scandinavian Health Ltd amongst others.