Autoinjectors Market 2019-2025 : Share Forecasts, Regional Trends & Growth drivers

Autoinjectors Market size is projected to experience significant growth from 2018 to 2024.
Rising incidence rate of anaphylaxis will stimulate autoinjectors market growth in upcoming years. The incidence rate of anaphylaxis is witnessing an upward trend in UK and U.S. According to Cleveland Clinic, the incidence of anaphylaxis is 50-200 episodes per one lakh population per year in U.S. with 1,500 deaths per year. Autoinjectors are of utmost importance for patients with anaphylaxis and hence an increase in its incidence should favor the demand for autoinjectors in foreseeable future.
Increasing approvals of autoinjectors will drive the autoinjectors industry growth in upcoming period. Large number of companies are investing in R&D of new autoinjectors owing to increasing diseases such as rheumatoid arthritis, cancer, psoriasis and anaphylaxis. For instance, in July 2018, Janssen Pharmaceuticals announced product approval by the European Commission for Simponi, an autoinjector device for moderate-severe ulcerative colitis. Accelerating number of regulatory approvals will drive new product development, thereby propelling business growth.
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Favorable reimbursement scenario should augment autoinjectors revenue size in forthcoming period. Availability of reimbursement support will offer lucrative business growth by increasing the adoption rate in foreseeable period. In addition, development of new generic products will improve the reimbursement support for autoinjectors. For instance, EpiPen manufacturer portrayed EpiPen as generic device for improving its reimbursement scenario. Increasing insurer reimbursement and support from government should cater to increasing demand as well as should increase the autoinjector market size in projection years.
Despite of the benefits, alternative drug delivery systems can impair market growth. In addition, dearth of well trained professionals and population on usage of autoinjectors will hamper industry growth, thereby negatively impacting the revenue share.
Rheumatoid arthritis (RA) therapy segment should witness considerable growth owing to rising prevalence of rheumatoid arthritis. According to an article by Sanofi, 2017, over 400,000 people in UK suffer from rheumatoid arthritis. This number is expected to grow over the upcoming period. New products are being developed for patients with RA. Sanofi introduced Kevzara in 2017, a buttonless autoinjector for patient with RA that have reduced hand mobility. Thus, rising prevalence coupled with emergence of new products should impel segmental share during the forecast period.
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Disposable autoinjectors market segment is projected to grow at a momentous pace owing to the benefits of disposable autoinjector over reusable device. Disposable units re cost-effective and convenient option for patients utilizing autoinjectors infrequently. Disposable autoinjectors are innovated for better handling and lower complaints. It offers easy handling coupled with enhanced safety features that renders it a preferable option over reusable autoinjectors, thus driving segmental growth.
Homecare end-use segment will foresee significant market growth due to rising demand for self-administering devices. Increased convenience offered in homecare settings for self-administration of drugs will favor rapid adoption of autoinjectors. Autoinjectors are being designed with a user-centric approach to reduce user-associated risk and improve user-friendly nature. Moreover, greater affordability and cost reduction in homecare set-ups should impel segmental growth in forecast years.
U.S. autoinjectors market should record remarkable market size as a result of increasing chronic diseases, regulatory approvals and favorable reimbursement policies. Increasing chronic diseases in U.S. should escalate the demand for autoinjectors. According to RAND Corporation, in 2014, 60% of American population were affected by at least one chronic disease. Population with multiple chronic condition in U.S. are potential to spend largely of healthcare. This will positively impact U.S. autoinjector industry growth in upcoming years.
UK autoinjectors market will grow at a rapid pace owing to rising incidence rate of anaphylaxis and increasing number of prescriptions for adrenaline autoinjectors (AAI). The incidence rate of anaphylaxis in UK is rapidly increasing from 2012 based on a study by NCBI. Number of AAI prescribed per child is also accelerating. Hence, UK autoinjectors industry is estimated to grow remarkably over the projected period.
Prominent industry players operating in global autoinjectors market are Abbvie, Becton Dickinson, Mylan, Eli Lilly, Johnson and Johnson, Amgen and other competitors. These companies are adopting various strategic initiatives such as new product launches and collaborations to emerge in the market. For instance, in December 2016, Mylan announced about the introduction of EpiPen, a generic epinephrine injection that offers autoinjector for customers at lower prices. This strategy should help the company in targeting a greater number of customers, thus increasing customer base in recent years.
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