Market Research Future has revealed that the global autoinjectors market is expected to witness exponential growth at a CAGR of over 25% during the forecast period of 2018 to 2023. Autoinjectors are an advancement in healthcare which dispenses a single dose of the given drug in an easy, and safe manner. Autoinjectors are commonly known for their use in epinephrine pen which is used to offer emergency care to patients suffering from anaphylactic shock.
Other applications for autoinjectors in healthcare in addition to the above are expected to spur growth for the global Auto-Injectors Market Companies.
Increasing prevalence of targeted therapies for the treatment of various conditions is expected to increase market value. The growing diagnosis of diseases such as diabetes and a general increase in anaphylaxis have increased the demand for autoinjectors. Moreover, design development to increase efficiency and safety with which medicine is delivered combined with technological advancements are highly conducive to future opportunities for growth. However, stringent government regulations for approval of medical products and the increasing preference and demand for alternative drug delivery methods which are minimally invasive are likely to hamper market growth to a certain extent. It should be noted that the reimbursement scenario is favourable and the availability of generic autoinjectors are expected to lead to a highly competitive market.
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Market players profiled extensively in MRFR's report include Consort Medical, Owen Mumford, Becton Dickinson and Company, Unilife Corporation, Eli Lily and Company, Johnson Johnson Services, Inc., AbbVie, Inc., Novartis International AG, Antares Pharma, Bayer AG, Teva Pharmaceutical Industries Ltd., Ypsomed, Amgen Inc., and SHL Group (Scandinavian Health Limited).
The global autoinjectors market has been segmented based on therapy, type, distribution channel, and region. by type, the market is divided between reusable autoinjectors and disposable autoinjectors. By therapy, the autoinjector market is segmented into diabetes, anaphylaxis, multiple sclerosis, rheumatoid arthritis, and others. By distribution channel, the market includes hospital pharmacies, retail pharmacies, and others.
The regional segmentation of the global autoinjectors market divides it into Europe, the Americas, the Asia Pacific and the Middle East and Africa.
The Americas make up the most significant share of the global market and is followed closely by Europe which accounts for the second most significant region. A high prevalence of auto-immune conditions such as widespread allergies in these regions, combined with the availability of high-quality health care, a high number of leading market players and availability of research budgets act as crucial factors driving the growth of the autoinjectors market.
Meanwhile, the Asia Pacific is anticipated to grow at the highest CAGR during the forecast period due to the presence of a massive patient population and consistently growing economy. Emerging economies such as India are undergoing a transformation in healthcare with increasing investments being made in advancing the level of care offered in the region. A high diabetic population also spurs the demand for autoinjectors in the region.
Latest Industry News
- The FDA (Food Drug Administration) has recently given approval for the first generic version of the EpiPen auto-injector.
- AstraZeneca has received approval for its new autoinjector pen from the European Commission.
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