South Korea Autoinjectors Market Insights Forecasts to 2033       

• The Market Size is Growing at a CAGR of 18.90% from 2023 to 2033.
• The South Korea Autoinjectors Market Size is Expected to Hold a Significant Share by 2033.

The South Korea Autoinjectors Market Size is Expected to Hold a Significant Share by 2033, at a CAGR of 18.90% during the forecast period 2023 to 2033.

Market Overview

An autoinjector is a medical device that is used to administer a specific drug dose. These injections were created to overcome the self-administration apprehension associated with needle-based drug delivery systems. Since they are simple to use and can be administered by patients or untrained individuals. They are primarily single-use, spring-loaded syringes. The site of administration varies depending on the drug loaded, but it is typically injected into the thigh near the buttock. On the market, there are two types of autoinjectors: intramuscular and subcutaneous. The energy source for single-shot injectors is typically a pre-tensioned spring. It works in three steps: it propels the syringe forward and punctures the injection site, then it activates the plunger and injects the drug, and finally, it deploys the shield to cover the needle. In some cases, injectors are activated by simply pressing the ring's nose against the injection site. Hence, the rising prevalence of anaphylaxis and food allergens, as well as the rising demand for adrenaline and epinephrine autoinjectors in South Korea, are propelling the South Korean autoinjectors market forward. Furthermore, advanced new drug delivery systems and innovations are propelling the South Korean autoinjectors market forward.

Report Coverage

This research report categorizes the market for the South Korea autoinjectors market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea autoinjectors market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea autoinjectors market.

Driving Factors

South Korea's population is getting older, which has increased the prevalence of chronic diseases such as rheumatoid arthritis. To treat rheumatoid arthritis, disease-modifying antirheumatic medications (DMARDs) are frequently injected into patients daily. Autoinjectors enable patients to self-administer these injections at home, allowing them to continue their treatment without making frequent trips to medical facilities. Medication administration that is simple and easy improves patient compliance and treatment outcomes overall. As a result, autoinjectors provide a practical solution for insulin administration, allowing patients to do so comfortably even in public places. Due to their small size, simple operation, and discrete design, autoinjectors enable individuals to conveniently deliver their insulin dosages without requiring elaborate preparation or assistance from healthcare experts.

Restraining Factors

The rising preference for alternative drug delivery methods, such as oral pharmaceuticals or wearable devices, may limit autoinjector market expansion in South Korea. Patients and healthcare practitioners may choose to use these alternative approaches due to convenience, patient preference, and the availability of alternative treatment options. The development and use of novel oral drugs to treat chronic illnesses have grown in popularity in South Korea.

Market Segment

• In 2023, the rheumatoid arthritis segment accounted for the largest revenue share over the forecast period.

Based on the therapy, the South Korea autoinjectors market is segmented into anaphylaxis, rheumatoid arthritis, psoriasis, migraine, cardiovascular diseases, and others. Among these, the rheumatoid arthritis segment has the largest revenue share over the forecast period. Rheumatoid arthritis is attributed to better treatment adherence, lower societal expenditures, and possibly fewer doctor visits for rheumatoid arthritis drug doses. Patients with chronic diseases, such as rheumatoid arthritis, prefer autoinjectors to syringes and vials because they are more convenient, easier to use, and less painful than prefilled syringes. Autoinjectors can improve self-esteem, convenience, cost, and time, as well as overall life quality.

• The disposable segment is witnessing significant CAGR growth over the forecast period.

Based on type, the South Korea autoinjectors market is segmented into disposable and reusable. Among these, the disposable segment is witnessing significant CAGR growth over the forecast period. Both patients and healthcare providers benefit from the convenience and simplicity of disposable autoinjectors. These devices are pre-filled with a specific dose of medication, so there is no need for manual loading or measurement. Patients can self-administer their medications without having to deal with needles, draw up doses, or deal with vials and syringes. Because of their ease of use, disposable autoinjectors are popular, particularly among those with limited experience or dexterity in medication administration.

• The hospitals and clinics segment is witnessing the largest CAGR growth over the forecast period.

Based on end users, the South Korea autoinjectors market is segmented into hospitals and clinics, home care, and others. Among these, the hospitals and clinics segment is witnessing largest CAGR growth over the forecast period. In hospitals and clinics, autoinjectors are widely used for a variety of purposes, including the administration of medications for chronic diseases, emergency treatments, and vaccinations. The presence of skilled healthcare professionals in these settings ensures that patients who require assistance using autoinjectors receive proper training and supervision. Hospitals and clinics already have the infrastructure and resources in place to support the use of autoinjectors.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea Autoinjectors market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• AbbVie Inc.
• Sanofi
• SHL Group
• Becton, Dickinson, And Company
• Biogen
• Novartis AG
• Antares Pharma
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2023, the target AVERSATM formulation was chosen by Nutriband Inc. and Kindeva Drug Delivery ("Kindeva") for commercial-scale manufacturing process development for the Company's patented lead product, AVERSATM Fentanyl, an abuse-deterrent fentanyl transdermal system.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korean autoinjectors Market based on the below-mentioned segments:

South Korea Autoinjectors Market, By Therapy

• Anaphylaxis
• Rheumatoid Arthritis
• Psoriasis
• Migraine
• Cardiovascular Diseases
• Other

South Korea Autoinjectors Market, By Type

• Disposable
• Reusable

South Korea Autoinjectors Market, By End User

• Hospitals and Clinics
• Home Care
• Others