Australia Autoinjectors Market

Market Overview

The Australian autoinjectors market size witnessed significant growth and is expected to grow at a CAGR of around 16.6% during the forecast period (2022-2030).

Highlights

• Anaphylaxis dominates the market by therapy.
• Disposable dominates the market by type.
• Homecare dominates the market by end-user.

An autoinjector is a piece of medical equipment used to administer a specified medication dosage, usually by injection. It normally consists of a pre-filled syringe, a needle, and a spring-loaded mechanism that administers the drug swiftly and conveniently with the push of a button. It is made to be simple to use by the patient or caregiver. Treatment with autoinjectors is widely practiced. Allergies, arthritis, and multiple sclerosis are some of such illnesses. They can lower the chance of unintentional needle stick injuries and are frequently utilized in emergency settings where quick medicine administration is required.

Market Dynamics

Australia Autoinjectors Market Drivers

Pressing Need for Patients' Convenience

Patients are increasingly controlling their healthcare and treatment, a developing trend. They look for convenient choices and let them care for their medical needs at home or on the go. Autoinjectors meet this demand by offering an easy-to-use, self-administered tool that streamlines the administration of injectable drugs. 

The Australian government's Pharmaceutical Benefits Scheme (PBS) also offers subsidized access to pharmaceuticals, including those given by autoinjectors. By lowering the cost of these devices, this favorable reimbursement environment promotes the use of autoinjectors and improves patients' convenience.

Australia Autoinjectors Market Restraints

Increasing Preference for Alternative Drug Delivery Modes

Patients frequently favor oral formulations over injectable medications since they are simple to use and don't require a needle for delivery, such as tablets or capsules. This can be especially important for drugs to be properly absorbed through the gastrointestinal tract. Inhalers, which let patients breathe medicine straight into their lungs, are also frequently used for respiratory diseases. Patients with respiratory disorders often approve of inhalers since they administer drugs locally. The popularity of these alternative medication delivery methods is rising in Australia, which may affect the expansion of the autoinjectors market.

Australia Autoinjectors Market Opportunities

Relocating Production Base to Developing Economies

Utilizing the country's favorable economic environment, experienced workforce, and closeness to Asia-Pacific markets, numerous international pharmaceutical corporations have set up or increased their production operations in Australia. The businesses and the regional economy have had growth prospects due to moving production bases to Australia. One such instance is the multinational pharmaceutical corporation Pfizer Inc. Pfizer's production site in Melbourne has a sizable presence in Australia. Australia's experienced workforce, cutting-edge infrastructure, and friendly regulatory environment were reasons the corporation decided to expand its operations there. By creating jobs and transferring technology, this relocation of the production base benefits the local economy in addition to helping Pfizer expand its presence in the Australian market. There are several benefits to moving industrial bases to emerging nations like Australia. Companies in the market can grow by moving their production bases to growing nations like Australia.

Segmental Analysis

The Australia autoinjectors market is segmented based on therapy, type, end-user, and country.

The market is further segmented by therapy into Anaphylaxis, Rheumatoid Arthritis, Psoriasis, migraines, Cardiovascular-diseases, and others.

The Anaphylaxis segment dominates the market and is expected to grow at a CAGR of 17.8% during the forecast period.

The market is further segmented by type into Disposable, Reusable.

Disposable dominated the market and is expected to register a CAGR of 16.2% over the forecast period.

The market is further segmented by end-user into Hospitals and clinics, home care, and others.

The home care segment dominates the market and is expected to grow at a CAGR of 17.2% during the forecast period.

Regional Analysis

The autoinjectors market in Australia is crowded with both native and foreign competitors. With various autoinjector goods available, major pharmaceutical corporations, medical device producers, and specialty manufacturers operate. It's important to remember that factors like pricing, reimbursement practices, healthcare spending, and patient awareness and education also impact the Australia autoinjectors market. Several variables may impact the adoption and expansion of autoinjectors in the nation. The demand for autoinjectors has increased as the prevalence of chronic conditions like diabetes, rheumatoid arthritis, multiple sclerosis, and allergies has increased in Australia. Thanks to these gadgets, patients can successfully and comfortably manage their prescriptions at home. For instance, Australia's pharmaceutical industry is sizable and has consistently expanded.

The Australian pharmaceutical market was estimated to be AUD 24 billion in 2020. The Therapeutic Goods Administration (TGA), one of Australia's regulatory agencies, ensures medical equipment's quality, safety, and efficacy, including autoinjectors. Australia has a sophisticated medical infrastructure and a well-established healthcare system. This promotes market expansion by making autoinjectors accessible and available to patients nationwide. Due to factors such as the rising incidence of chronic diseases, patient desire for self-administration, and improvements in medical infrastructure and technology, the Australia autoinjectors market is anticipated to expand steadily over the coming years.

Recent Developments

• May 2023- B.D. (Becton, Dickinson, and Company), a leading global medical technology company launched a new cell sorting instrument with two breakthrough technologies that allow researchers to discover more cell information than was previously possible in flow cytometry experiments.
• April 2023- Nutriband Inc. and Kindeva Drug Delivery ("Kindeva") selected the target AVERSATM formulation for commercial scale manufacturing process development for the Company's patented lead product, AVERSATM Fentanyl, an abuse-deterrent fentanyl transdermal system.