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Entering Developing Economies: An Opportunity for Growth
Developing economies offer a chance for various markets to expand because they lack developed research and development sectors, making it challenging for them to tackle upcoming health challenges. In places like Africa, there is a significant demand for medicines and health technologies, but they heavily rely on imports. The slow growth of the healthcare industry in Africa is due to poor economic conditions, despite the pressing need for medical treatment. According to the National Centre for Biotechnology Information (NCBI) statistics from 2016, a substantial number of patients from West China Hospital who underwent skin lesion excision and were treated with autoinjectors hailed from low- and middle-income countries.
This sizable population in developing countries grappling with chronic diseases presents a lucrative opportunity for major players in the autoinjectors market. The potential for growth in these regions is immense due to the existing demand for healthcare solutions and the limited resources to address these needs.
One of the key challenges in developing economies is the underdeveloped state of their research and development sectors. This hinders their ability to effectively address emerging health challenges. For instance, in Africa, there is a heavy dependence on imported medicines and health technologies, indicating a gap in the local production and development of these essential resources. This dependence on imports not only creates a vulnerability in the supply chain but also contributes to the slow growth of the healthcare industry within these regions.
The economic conditions in many developing countries further exacerbate the challenges in the healthcare sector. Despite the high demand for medical treatments, the slow growth of the healthcare industry in these regions is attributed to unfavorable economic conditions. The lack of financial resources and infrastructure development hinders the establishment and expansion of healthcare facilities, limiting access to essential medical services for the local population.
In the context of the autoinjectors market, the statistics from West China Hospital reveal the extent of the issue. Patients from low- and middle-income countries undergoing treatment for skin lesions with autoinjectors highlight the prevalence of chronic diseases in these regions. This data underscores the urgent need for accessible and affordable healthcare solutions tailored to the specific challenges faced by developing economies.
The autoinjectors market, therefore, holds significant potential for growth by addressing the healthcare needs of populations in developing economies. Key players in the industry have a unique opportunity to contribute to the improvement of healthcare infrastructure, accessibility, and affordability in these regions. By understanding the challenges and opportunities presented by developing economies, companies can strategically position themselves to make a positive impact on the health and well-being of millions of people in these underserved regions.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | By Product Type, By Application, By End-User, By Region |
Autoinjectors Market Highlights:
Global Auto injector Market Overview
Autoinjectors Market: Valued at USD 1.2 billion in 2023, projected to grow from USD 1.3 billion in 2024 to USD 2.72 billion by 2032, exhibiting a CAGR of 12.40% during the forecast period (2024 - 2032). The rising frequency of widespread use of epinephrine injectors, adrenaline, and food allergens & anaphylaxis are the market drivers enhancing market growth.
Auto injector Market Trends
- Rising awareness among patients boost market growth
The key factors driving the growth of auto injectors are increasing awareness among patients, as auto injectors are self-administrative, an increase in anaphylactic shocks, and others. As auto injectors are the least expensive home medicine solution, the market is also expanding. It reduces the need for medical professionals, which accelerates response times.
The aging population and high demand and biologics production adversely affect the growth of auto injectors. Research and development firms are trying to create new, affordable treatments for chronic diseases like multiple sclerosis and rheumatoid arthritis. It will likely increase the market's value in the coming years and reach incredibly high levels.
Restraints
It is estimated that the market's CAGR will increase to a maximum of 23.3% during the forecast period. Yet, several difficulties at this early stage could constitute barriers and limit the market growth for auto injectors. The fact that several alternatives can impede the market expansion for auto injectors is yet another factor that makes it difficult. Although they can be substituted with oral tablets, injections, and other methods, auto injectors are expensive, and their availability may be limited. Notwithstanding these limitations, the industry will experience strong growth during the forecasted period.
After COVID-19, the auto injectors market has a lot of new opportunities. Restricted markets everywhere, except health industries, helped the industry to survive. New initiatives and substantial investment in the healthcare sector are most likely to accelerate. Auto injector Maket revenue.
Auto injector Market Segment Insights
Auto injector by Product Insights
The Auto injector market segmentation can be classified into several categories based on product the auto injector market include Disposable, Reusable. The disposable segment is expected to dominate the market over the forecast period such as disposable auto injectors and reusable auto injectors. There are several types of auto injectors on the market, with disposable auto injectors holding the most significant market revenue because of their built-in glass syringes, ease of use, and patient friendliness.
Experience and Eversana have formed a cooperation for 2021 that aims to optimize manufacturing, development, commercialization, and meal planning.
A contract was struck in August 2020 between the US-based Antares Pharma and the Dubai-based Lunatus Medical Supply. The transaction was made possible by XYOSTED's supply and Saudi Arabia's regulatory approvals.
Auto injectors made without plastic and with zero carbon emissions will soon experience significant market growth.
Figure 1 Auto injector Market, by Product Type, 2023 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Auto injectors By Therapeutic Application Insights
The Auto injector market segmentation, based on By Therapeutic Application, The therapeutic sub-segment includes Anaphylaxis, Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Others. Rheumatoid arthritis is the most prevalent among them due to the size of its patient base. Rheumatoid arthritis affects more than 43.7 million persons in the United States annually. That raises market growth.
Auto injectors By Distribution Channel Insights
The end-user market data based on distribution channel, includes Retail Pharmacies, Hospital Pharmacies and Others. Hospitals held the majority share in 2022 concerning the Auto injector market revenue, followed by home health and other settings. Since chronic diseases are becoming more common and technology is advancing, home care settings dominate the market.
In March 2020, SHL Medical (Switzerland) bought Weibel CDS. This acquisition improved SHL Medical's capacity to offer more sophisticated drug delivery systems with features that put people first and broadened the growth opportunity for the Auto injector industry.
A disposable auto injector called the BD Intevia 1ml Disposable Auto injector was introduced by Becton, Dickinson, and Company (US) in November 2019.
Auto injector Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Auto injector Market accounted for USD 1.3 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence like chronic diseases, autoimmune conditions, and anaphylaxis has become more prevalent across the region.
Further, the major countries studiedin the market reportare The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3 AUTO INJECTOR MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Auto injector Market will reach Twenty-eight million people by 2027. This market is expanding due to several factors, including the development of innovative medication delivery systems, enhanced healthcare infrastructure, and technological advancements. Because chronic diseases are common in most of these areas, the market is expanding and earning more money. Further, the Germany Auto injector Market held the largest market share, and the UK Auto injector Market was the fastest growing market in the European region
The Asia Pacific Auto injector Market region, after America, holds a majority market share. In addition, the Indian Auto injector market is expected to grow at approximately 18.90% during the forecast period.
The Asia-Pacific Auto injector Market is expected to grow at the fastest CAGR from 2024 to 2032. The key players are fastest increasing their presence in the Asia Pacific Auto injector market, including opening sales offices and forming partnerships with local pharmaceutical companies. Further, the China Auto injector Market held the largest market share, and the India Auto injector Market was the fastest growing market in the region
Auto injector Key Market Players& Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Auto injector Maket grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the auto injector industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Auto injectorindustry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, auto injector industry has provided most significant benefits. The Auto injector Market major player 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.
SHL Medical, a Swiss manufacturer of cutting-edge delivery tools such as wearable medication delivery systems, auto injectors, pen injectors, and sophisticated inhalers, bought Weibel CDS in March 2020 for an unknown sum. SHL anticipates growing its selection of cutting-edge injection device drug delivery systems due to this acquisition. The research and development of patch injection systems and devices is the area of expertise for the Swiss medical technology company Weibel CDS.
The Qfinity auto injector platform, a straightforward, reusable, and cost-effective solution for subcutaneous (SC) drug self-administration, was introduced by Jabil Healthcare, a branch of Jabil Inc., in May 2022.
Stevanato Group S.p.A. inked an exclusive contract for its Aidaptus auto injector in May 2022 with Owen Mumford Ltd., one of the top producers and innovators of medical devices.
Key Companies in the Auto injector Market includes
Auto injector Industry Developments
Experience and Eversana have formed a cooperation for 2021 that aims to optimize manufacturing, development, commercialization, and meal planning.
A contract was struck in August 2020 between the US-based Antares Pharma and the Dubai-based Lunatus Medical Supply. The transaction was made possible by XYOSTED's supply and Saudi Arabia's regulatory approvals.
Auto injectors made without plastic and with zero carbon emissions will soon experience significant market growth.
In March 2020, SHL Medical (Switzerland) bought Weibel CDS. This acquisition improved SHL Medical's capacity to offer more sophisticated drug delivery systems with features that put people first and broadened the growth opportunity for the Auto injector industry.
Auto injector Market Segmentation
Auto injector By Product Type Outlook
- Disposable
- Reusable
Auto injector by Therapeutic Application Outlook
- Anaphylaxis
- Rheumatoid Arthritis
- Multiple Sclerosis
- Diabetes
- Others
Auto injector Distribution Channel Outlook
- Retail Pharmacies
- Hospital Pharmacies
- Others
Auto injector Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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