AbbVie Inc. (US) and Amgen (US) are the Prominent players in the Autoinjectors Market
The 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. 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.
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The prominent players in the autoinjectors industry are 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), Meridian Medical Technologies, Inc. (US), Roche Diagnostics (Switzerland), Bespak (UK), Bayer (Germany), SHL Medical (Switzerland), Haselmeier (Switzerland), Owen Mumford (UK), Ravimed (Poland), Medeca Pharma AB (Sweden), Cambridge Consultants Ltd. (UK), Flex (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.
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.
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.
Eli Lilly and Company
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.
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
Mr. Aashish Mehra
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