Auto-Injector Market Trends

Growth Drivers

• Growing popularity of biosimilars and biologics: Biological pharmaceuticals and biosimilar medications are generally brittle proteins that require the use of self-injectables to raise the medication's therapeutic value. Thus, the increasing use of these therapies for treating autoimmune disorders and cancer is fueling demand in the auto-injectors market. According to a research article published by PLOS in July 2023, the market and manufacturing demand for these devices are anticipated to reach USD 37.5 billion by 2025. It further mentioned the use of newly introduced open-source hardware to mitigate the shortage of supply for these tools for insulin therapies. Such studies testify to the wide adoption in this sector as a result of the biologic drug surge.
   
• Shifting preference toward remote healthcare: After the pandemic struck, convenience, cost-reduction, and patient safety have magnified the importance of streamlining the home care approach. Particularly for older people, it has become necessary to avail required medical supplies for them at their doorstep, as they are mostly unable to visit the point-of-care premises. Many of them use solutions from the market for daily medications, signifying a growth opportunity in this sector.

Challenges 

• Presence of alternative modes for administrating drugs: Medication administration techniques vary widely and are frequently categorized based on the site of administration, such as intravenous or oral, out of which oral administration is the recommended method for most prescribed medications. This, as a result, may limit the demand for intravenous or injectables, subsequently hindering business flow in the market. On the other hand, creating a single tool with varied injection rates and volumes while maintaining safety and accuracy is still a challenge, shrinking the scope of competency with alternatives.