What is the expected addressable market value of global Autoinjectors Market over a 5-year period?

According to the new market research report?"Autoinjectors Market?by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular Diseases, Diabetes), Type (Disposable, Reusable), Route of administration (Subcutaneous, Intramuscular), End User (Hospital) - Global Forecast to 2025",?published by MarketsandMarkets?, the 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.

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The Market growth 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. The patent expiry of biologics is also expected to provide growth opportunities for players in the market.

On the other hand, the preference for alternative routes of drug delivery such as oral diabetic agents and nasal epinephrine sprays is expected to limit the adoption of autoinjector devices.

Key Market Players

The prominent players in the autoinjectors industry are AbbVie Inc. (US), Mylan (US), 礼来 (US), YPSOMED (Switzerland), 安进 (US), Becton, Dickinson and Company (US), 荷商葛蘭素史克藥廠 plc (UK), 强生公司 (US), Teva Pharmaceuticals Pharmaceutical (Israel), Antares Pharma Inc. Pharma (US), 默克 KGaA (Germany), Formerly Meridian Medical Technologies | KDD , Inc. (US), Roche Diagnostics Europe (Switzerland), Bespak (UK), 拜耳 (Germany), SHL Medical (Switzerland), Hans Haselmeier (Switzerland), Owen Mumford (UK), Ravimed (Poland), MEDECA PHARMA AB (Sweden), Cambridge Consultants Ltd. (UK), 伟创力 (US), SMC ??????? Ltd. (US), and Promius Pharma (US). These players have adopted various growth strategies such as acquisition, product launches, agreements, partnerships, and expansion to increase their presence and reach in the autoinjectors market.

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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. The company focused on research and development to enhance its products and launch new products in the market. For instance, in 2019, the company spent over USD 6 billion on R&D. AbbVie has a strong distribution network across 75 countries and major manufacturing facilities in the US.

安进

Amgen is engaged in the discovery, development, manufacturing, and marketing of innovative human therapeutics. The company focuses on producing innovative medicines, expanding its global geographic reach, enhancing next-generation biomanufacturing, improving drug delivery systems, and branded biosimilars. Currently, the company offers autoinjectors for the treatment of rheumatoid arthritis, cardiovascular disease, and inflammatory diseases.

礼来

Eli Lilly and Company provides autoinjectors for GLP-1 analogue for diabetes and psoriatic arthritis. The company’s wide presence across the globe also plays a very important role in securing its position in the market. To strengthen its position in the market, the company pursues the strategies of product launches and expansions. Innovation is an integral part of the company. Moreover, the company has witnessed tremendous marginal growth in the last three years. In 2019, the company witnessed a growth of 23.6% in the operating margin as compared to 17.1% in 2018. Expansion of its existing capabilities and expanding into other countries enable the company to broaden its product reach.

Asia Pacific?is expected to witness fastest growth during the forecast period of 2020–2025.

Geographically, the autoinjectors market is segmented into?North America,?Europe, the?Asia Pacific,?Latin America, and?Middle East?&?Africa. Growth in the?Asia Pacific?market is driven majorly by the large diabetes population and increasing healthcare expenditure in the regional countries have drawn a number of major autoinjector device manufacturers to this region. These companies are increasing their presence in the?Asia Pacific?market through several approaches, such as establishing sales offices and partnering with local pharmaceutical companies

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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.
• Becton, Dickinson and Company (US) launched a disposable autoinjector namely BD Intevia 1ml Disposable Autoinjector. This activity will strengthen company’s autoinjector’s portfolio.