Autoinjectors Market Size To Expand at a Notable CAGR Of 25.2% During 2018 - 2023

Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Autoinjectors Market.

Market Analysis

The global autoinjectors market is predicted to have a favorable growth at a whopping 25.2% CAGR over the predicted years (2018-2023). Patients’ changing attitude towards the generic disease treatment has led to a huge rise in the preference for auto-injectors which are basically self-administered devices. An autoinjector simply put is a device utilized to dispense a single drug dose especially life saving drugs. Generally, it is a spring-loaded syringe which has been specially designed for safe and easy drug administration. The self-injection devices that were traditionally used to deliver insulin and human growth hormones has been replaced by the advanced autoinjectors which has experienced a noteworthy growth owing to the various advantages that it offers over the conventional devices. The different benefits that auto injectors offer include maintain consistency with regards to dose accuracy, help in better efficacy, reduces the needle phobia anxiety and reduces needlestick injuries.

There are many factors that is driving the growth of the autoinjectors market. Some of these factors as per the Market Research Future (MRFR) report include new drug delivery systems, new formulations, developments and innovation in biological drugs, increasing need for targeted drug delivery system to treat chronic diseases, marketing approvals and government reimbursements for auto-injectors, rising diabetes and cancer cases, availability of generic autoinjectors, growing anaphylaxis incidences, and preference for home-care solutions. On the contrary, factors such as soaring prices of autoinjectors, stringent government regulations, rising preference for an alternative drug delivery system such as nasal spray and lack of practice to use self-injection may hinder the growth of the autoinjectors market.

Market Segmentation

Market Research Future report offers an all-inclusive segmental analysis of the autoinjectors market on the basis of type, therapy and distribution channel.

Based on type, it is segmented into reusable and disposable autoinjectors. Of these, the disposable autoinjectors are expected to have the maximum share in the autoinjectors market over the predicted years.

Based on therapy, the autoinjectors market is segmented into anaphylaxis, diabetes, multiple sclerosis, rheumatoid arthritis and others. Of these, anaphylaxis will lead the market over the predicted years.

Based on distribution channel, it is segmented into hospital pharmacies, retail pharmacies and others.

Regional Analysis

Based on region, the autoinjectors market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and the Middle East and Africa. Of these, the autoinjectors market in North America is anticipated to outdo the other regions over the predicted years owing to the growing need for such injectors in diabetes and anaphylaxis treatment, growing demand for targeted therapies, high disposable income, noteworthy advancement in the healthcare sector and the increasing prevalence of autoimmune diseases here. The autoinjectors market in the APAC region will have a rapid growth over the predicted years owing to rising prevalence of diabetes here coupled with rising awareness about autoinjectors. In Europe, the autoinjectors market is anticipated to have a promising growth due to the rising prescription for adrenaline autoinjectors, rising geriatric population, advantageous reimbursement scenario and increasing diabetes and cancer cases. On the other hand, the autoinjectors market in the Middle East and Africa is predicted to have a perceptible growth over the predicted years owing to lack of awareness concerning self-administration of drugs.

Competitive Analysis

The global autoinjectors market is experiencing a considerable transformation that has accelerated its growth. The key players in this market are using their primary resources for initiating a trend of adequate, volume-driven growth which the market has observed through the creation of various forms of products. Highest long-term growth here can be harnessed ensuring the ongoing process improvements coupled with maintaining financial stability for investing in the best strategies. The companies that are looking forward to capture a favorable share in the autoinjectors market right away are implementing as well as experimenting with different advantage points.

Key Players

Leading players profiled in the autoinjectors market include Eli Lilly and Company, Amgen Inc., Owen Mumford, Unilife Corporation, Johnson & Johnson Services Inc., Antares Pharma, Bayer AG, Novartis International AG, Teva Pharmaceutical Industries Ltd., SHL Group, Consort Medical, Becton Dickinson and Company, Ypsomed, and AbbVie Inc.

Aug 2018- The Food and Drug Administration has approved the first of its kind generic version of two epinephrine auto-injectors, EpiPen Jr and EpiPen. This will offer access to effective, safe and lower cost generic alternatives.