PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1495992
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1495992
The global auto-injector market is evaluated at US$69.171 billion for the year 2022 and is projected to grow at a CAGR of 19.39% to reach a market size of US$239.145 billion by the year 2029.
Auto-injectors are syringes accompanied by a spring-charged needle with a pre-charged dosage of drugs or medicine. The convenience and user-friendliness offered by auto-injectors are increasing the demand for auto-injectors over conventional syringes. They are widely preferred over conventional syringes as they reduce anxiety and panic in patients compared to conventional syringes.
The increasing cases of chronic diseases have boosted the global auto-injector market growth. One of the major factors increasing the popularity and acceptability of auto-injectors over conventional syringes is the reduced anxiety caused by auto-injectors in patients. The pre-charged dosage of drugs in auto-injectors also increases the effectiveness and convenience of auto-injectors for medical practitioners. The percentage of errors reported in auto-injectors is lower than that of conventional syringes.
The significant investments in research and technological developments in medical drug injection by major market players are also contributing to the auto-injector market growth. The rising trend of home-based medical diagnosis and medical care also increases the demand for auto-injectors in the global market. The wide use of auto-injectors for the self-injection of epinephrine to prevent anaphylaxis is also boosting the market growth of auto-injectors as cases of anaphylaxis are increasing.
The rising cases of chronic diseases are one of the major factors driving the global auto-injectors market growth. The increasing rate of anaphylaxis cases is also pushing the market growth of auto-injectors, as the drug for the treatment of anaphylaxis is usually self-administered to patients with the help of auto-injectors.
According to the global overview of WAO (World Allergic Organisation), the percentage of anaphylaxis cases is mostly reported in adults compared to children. Adults or older people affected by anaphylaxis mainly seek the support of self-administered auto-injectors for the dosage intake of drugs like epinephrine. According to PAHO (Pan American Health Organisation), about 2% of the total American population is facing the effects of anaphylaxis.
The rising trend of home-based medical care for lifestyle diseases and others is also fuelling the market growth of auto-injectors compared to conventional syringes. The benefits offered by auto-injectors in self-administration and effectiveness in dosage quantity are pushing the market value of auto-injectors globally.
The significant investments offered by major market players in injectors and self-injectors are giving potential to the global market growth of auto-injectors. The research and developments taking place in drug dosage administration are technically enhancing and developing the sector of auto-injectors.
The support offered by the government in research and development in the medical field is also resulting in the auto-injector market growth. The large investments and involvement of companies like Amgen and Antares Pharma are also leading to enhancement and development in the field of autoinjectors.
The North American region accounted for the largest share.
Geographically, the North American region accounts for the major market share in the global auto-injector market. The increasing cases of anaphylaxis, arthritis, and other diseases in which auto-injectors are widely used are fuelling the market growth of auto-injectors in the North American region. The Asia-Pacific region follows the market growth of the auto-injectors.
North America, particularly the United States and Canada, is a major market for auto-injectors due to its high prevalence of chronic diseases like diabetes, rheumatoid arthritis, and multiple sclerosis. The region's advanced healthcare infrastructure, technological advancements, and regulatory environment contribute to the rapid adoption of these devices. Patient preferences and education, along with economic factors, also influence the demand for auto-injectors.
The region's strong economic strength may lead to higher healthcare spending on advanced medical devices like auto-injectors. The presence of major pharmaceutical and medical device companies headquartered or with a strong presence in North America can further boost the region's market share.