The Global Market for Auto-Injectors is Expected to Reach USD 2.4 Bn by the End of the Forecasted Period and is Expected to Grow at a CAGR of 17.2% Till 2023
The autoinjectors market has been segmented on the basis of therapy, type, region, and distribution channel. On the basis of type, the autoinjectors market has been segmented into reusable autoinjectors and disposable autoinjectors. Based on therapy, the market for autoinjectors has been segmented into multiple sclerosis, diabetes, rheumatoid arthritis, anaphylaxis, and others. On the basis of distribution channel, the autoinjectors market has been segmented into hospital pharmacies, retail pharmacies, and others. The autoinjectors market includes regions such as Europe, the Middle East, the Americas, Asia Pacific, and Africa.
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Auto-Injectors Market- Overview
Auto-injectors not only allow the automatic injection of a syringe but also have a visual indication that confirms the deliverance of the full dose, hence, these are preferred over the traditional syringes involved in the needle-based drug delivery devices. Affirmations stating that the auto-injectors are entirely safe and reliable for the self-administration of drug delivery are driving the growth of the market.
Moreover, the Increasing development and use of biological drugs (biologicals) & vaccines are expected to increase the market size from 2017 to 2022. Besides, factors such as the rising need for targeted and sustained drug delivery in the treatment of chronic diseases and the need for cost-efficient delivery of high-priced medications are fostering the growth of the market.
Additional factors propelling market growth include the rising prevalence of chronic diseases and the augmented demand for intensive care for patients in critical conditions. Moreover, the proliferation of home healthcare-based medical devices that are embedded with sensors is supporting the market allowing patients to self-administer the doses. These advantages are fostering the growth of auto-injectors market to a great deal. Furthermore, the increasing geriatric populace and rapidly changing lifestyle propel the growth of the market.
The growth of the market is moving in a promising direction due to new product introductions or intensifying gross revenue of the players in the market. Increased conformity of market players to new customers and market trend inclinations are boosting the growth curve of the market and will persist in the forecast period. The expansion of a strong value chain is additionally motivating the development of the market. The vertical supplements and product tactics of the market are advancing the potential of the market players. The tactical goals intended for the market are buoyed due to advantageous product differentiation carried out by market contestants. Substantial cuts in administrative costs are inducing further expansion of the market. The effective implementation of strategies is likely to stimulate the market in the coming years.
The central contenders in the autoinjectors market globally are Eli Lily and Company, AbbVie, Inc., Ypsomed, Amgen, Inc., Becton, Dickinson and Company, Owen Mumford, Consort Medical, SHL Group (Scandinavian Health Limited), Johnson & Johnson Services, Inc., Unilife Corporation, Teva Pharmaceutical Industries Ltd., Novartis International AG, Antares Pharma, and Bayer AG.
Nov 2018 The FDA has approved Genentech’s single-dose, prefilled autoinjector ACTPen 162 mg/0.9 mL of tocilizumab (Actemra) for patients with giant cell arteritis (GCA), rheumatoid arthritis (RA), and 2 forms of juvenile arthritis.
Detailed Regional Analysis
The regional analysis of the autoinjectors market finds that the Americas is estimated to control the global autoinjectors market due to a mature healthcare sector, increasing incidence of autoimmune and chronic diseases, and rising healthcare spending. Moreover, the promising reimbursement scenario in this region adds to the growth of the market. The European region is projected to be the second major market in the autoinjectors market globally.
The market expansion in this region is credited to the rising prevalence of chronic diseases, the availability of funds for research, and growing healthcare expenses. The Asia Pacific is estimated to be the speediest rising region in the market owing to the incidence of a huge patient population, incessantly developing economies, intensifying prevalence of diseases, and escalating government funding for the healthcare sector. Conversely, the Middle East and Africa region has the minimum share of the market. The majority of the market of this region is anticipated to be controlled by the Middle Eastern region due to a sophisticated healthcare sector and mounting government initiatives for the healthcare sector.
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Major TOC by Auto-Injectors Market Research Report- Global Forecast to 2022
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
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