Dublin, Dec. 27, 2022 (GLOBE NEWSWIRE) -- The "Auto-Injectors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The global auto-Injectors market is expected to witness a CAGR of 20.7% during the forecast period.
The COVID-19 pandemic has exerted favorable and unfavorable impacts on the healthcare industry. This is likely due to the fact that most autoinjector products are administered at home by the patient. Patients who use autoinjectors don't have to leave their homes to receive care, which is advantageous when trying to maintain social distance during the pandemic.
The rising COVID-19 patient population is putting a strain on hospital systems and the availability of medical supplies for each patient and the hospital. Due to increased demand for medical supplies such as injections, pre-filled syringes, and other items, manufacturers have increased their production capacity to meet the demand-supply balance. The Covid-19 has had a significant impact on the market for auto-injectors.
The factors that are driving the market growth include increasing demand for the convenience of patients, rising incidence of chronic and lifestyle diseases, and technological advancements. According to World Health Organization Reports, in 2021, over 16 billion injections were given annually worldwide. Thus, the rising number of injections annually drives the demanforof auto-injectors, thereby boosting the market.
Key Market Trends
Rheumatoid Arthritis Expected to Hold Significant Market Share
Rheumatoid arthritis (RA) is an autoimmune disease in which the body's immune system attacks the joints, causing inflammation of the synovium and swelling and pain in and around the joints. According to the article published in Rheumatology International in July 2021, titled " The global prevalence of rheumatoid arthritis: a meta-analysis based on a systematic review" the global prevalence of RA between 1980 and 2019 was 460 per 100,000 population. Thus Increasing prevalence of RA is expected to boost the segment growth.
Arthritis primarily affects the elderly population, with females having a higher prevalence than males. According to the United Nations World Population Prospects 2019 report, one in every six people in the world will be 65 or older by 2050, up from one in every eleven in 2019, and one in every four people in Europe and Northern America will be 65 or older by 2050. The number of persons aged 80 years or over globally is projected to triple, from 143 million in 2019 to 426 million in 2050. As arthritis is more prevalent in the geriatric population and increasing it boost the segment over the forecast period.
According to several recent studies, the majority of the patients with rheumatoid arthritis who used an autoinjector for the treatment were observed to be comfortable using the device and even had better outcomes than those who had someone else administer injections.
North America Expected to Dominate the Market
North America is expected to hold a significant share of the global disposable auto-injectors market during the forecast period. The factors such as early adoption of technologically advanced products and product approvals as well rising prevalence of chronic diseases boost the market in the region.
According to the data provided by the Canadian government, in 2019, 44% of adults aged 20+ years have at least 1 of 10 common chronic conditions, and the prevalence of chronic diseases is rising. Furthermore, a high incidence of chronic diseases, such as cancers, boosts the market in the region.
According to the Globocon 2020, the number of new cancer cases diagnosed was 2,281,658 in the United States in 2020, with 612,390 deaths. Among all cancers, breast cancer had the highest incidence with 253,465 cases, followed by lung (227,875), prostate (209,512), and colon (101,809).
Furthermore, rising technological advancements, increasing entry of new players, and speedy adoption of advanced products are helping in the market growth in the United States. For example, in October 2019, AstraZeneca received FDA approval for the self-administration of Fasenra (benralizumab) in a pre-filled, single-use auto-injector from the United States Food and Drug Administration.
Thus, all aforementioned factors are expected to boost the segment.
Competitive Landscape
The global Auto-Injectors market is highly competitive and consists of several major players. Companies like Abbvie, Amgen, AstraZeneca, Bayer, Becton, Dickinson and Company, Biogen, Eli Lilly, Novartis, Teva Pharmaceuticals, and Ypsomed, among others, hold a substantial market share in the Auto-Injectors market.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Convenience of Patients
4.2.2 Rising Incidence of Chronic and Lifestyle Diseases
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Preference for Alternative Drug Delivery Modes
4.3.2 Regulatory Hurdles
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 Application
5.1.1 Rheumatoid Arthritis
5.1.2 Multiple Sclerosis
5.1.3 Anaphylaxis
5.1.4 Other Applications (Cardiovascular Diseases, Diabetes, Migraines, Psoriasis, and Anemia)
5.2 Type
5.2.1 Disposable Autoinjectors
5.2.2 Reusable Autoinjectors
5.3 End User
5.3.1 Home Care Settings
5.3.2 Hospital & Clinics
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbvie
6.1.2 Amgen
6.1.3 AstraZeneca
6.1.4 Bayer
6.1.5 Becton, Dickinson and Company
6.1.6 Biogen
6.1.7 Eli Lilly
6.1.8 Novartis
6.1.9 Teva Pharmaceuticals
6.1.10 Ypsomed
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/tmgooc
