global autoinjectors 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. Growth of this Market 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.
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Key Market Players of AutoInjectors Market:
AbbVie Inc. (US), Mylan (US), Eli Lilly and Company (US), Ypsomed (Switzerland), Amgen (US), Becton, Dickinson and Company (US), GlaxoSmithKline plc (UK), Johnson & Johnson (US), Teva Pharmaceutical (Israel), Antares Pharma (US), Merck KGaA (Germany).
AbbVie
AbbVie markets its products worldwide through wholesalers, distributors, government agencies, healthcare facilities, specialty pharmacies, and independent retailers from AbbVie-owned distribution centers and public warehouses. The company is also entering into licensing arrangements, strategic alliances, co-promotion arrangements, co-development and co-marketing agreements, and joint ventures.
COVID-19 Impact on The Autoinjectors 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. According to researchers at Indiana University, healthcare visits decreased by around 40% in the first six weeks of the pandemic in the US, from early March to mid-April. After restrictions were eased, there has been an overall decline in patients delaying seeking care and treatment in healthcare settings.
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Opportunity: Need to limit patient visits and physical contact
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 current COVID-19 pandemic has resulted in the implementation of a fresh set of protocols that aim to reduce patient visits to hospitals and clinics in non-emergency conditions to prevent both the transmission of the virus as much as make sure healthcare institutions are not overwhelmed. In this situation, the preference for home-use autoinjectors has risen among patients suffering from chronic illnesses and allergies. This also protects vulnerable high-risk populations from exposure to the virus during hospital visits.
Recent Developments
- Antares Pharma (US) signed an agreement with Lunatus Global Medical Supplies (Dubai). In this agreement, Antares will supply packaged products to Lunatus and Lunatus will submit and obtain regulatory approval for XYOSTED in the UAE and Saudi Arabia as well as promote, market, and distribute XYOSTED in these two countries.
- SHL Medical (Switzerland) acquired Weibel CDS (Switzerland). This acquisition aimed at strengthening SHL Medical’s ability to provide more advanced drug delivery systems based on human-centered designs and functionality.
- Eli Lilly invested USD 470 million and created over 460 new jobs in Durham, NC. This expansion brought a new state-of-the-art pharmaceutical manufacturing facility to North Carolina’s research triangle park.
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