The Global Autoinjectors Market is expected to exhibit a CAGR of 25.2% over the forecast period from 2018 to 2023, according to a new report from Market Research Future (MRFR).
Pune, India - September 10, 2019 /MarketersMedia/ —
An autoinjector is a medical equipment that is mostly used in delivering doses of certain drugs. The autoinjectors are syringes that come with spring loaded within it. These devices are simple to use and handle. Hence, autoinjectors have become widely popular among unskilled or untrained individuals. Autoinjectors are generally used for self-administration purposes. There has been a prevailing anxiety regarding self-administration with the application of needle-based devices. Therefore, autoinjectors came as an answer to such anxieties. The self-administration cure market shows tremendous growth potential particularly in the needle-free injectors and pen injectors segments, consequently impacting the autoinjector market positively.
The autoinjector technology has evolved largely in the recent times. The device comprises a pre-filled cartridge or syringe placed inside an equipment that puts sufficient force to inject fully the needed drug as per the required dosage. Risks associated with premature conceptual design and inadequate planning might result in poor quality products, surged costs, and expanded completion time for the project. Hence, the manufacturers of autoinjectors will continuously require updating their regulatory and mechanical device knowhow.
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Autoinjectors have proven to be extremely helpful in treating sudden allergies. It is extremely difficult to predict when an allergy will trigger and how severe the magnitude would be. An allergy attack can convert into life-threatening conditions like anaphylaxis. Autoinjectors like Auvi-Q, Semjepi, Adrenaclick, and EpiPen along with a dose of epinephrine are safe options for dealing with such sudden allergy attacks.
The worldwide autoinjectors market has been projected to generate a worth of USD 79,741 million by 2024. The market is likely to grow at a CAGR of 17.42% over the forecast period.
Key Players - Autoinjectors Market
Market Research Future (MRFR) recognizes the following companies as the key players in Autoinjectors Market: There are plenty of large and small market players which operate in this market all over the globe.
The global autoinjectors market has been dominated largely by key players like Amgen Inc. (US). Amgen Inc. (US) is one of the renowned biotechnology brands. The brand has been continuously innovating its products to develop scientifically enhanced medicines and cures for its user base. Amgen leads with the idea that cure exists for every ailment. The other notable players in this market include names like Dickinson and Company (US), Ypsomed (Switzerland), Teva Pharmaceutical Industries Ltd (Israel), SHL Group (Taiwan), Owen Mumford Ltd (UK), Consort Medical (UK), Eli Lilly and Company (US), Antares Pharma (US), Johnson & Johnson Services Inc. (US), Mylan N.V. (US), and Becton, AbbVie Inc. (US).
Segments - Autoinjectors Market
The global autoinjectors market has been segmented based on the design therapeutic application, product type, region, and distribution channel.
Based on product type, the global autoinjectors market has been segmented into reusable autoinjectors and disposable autoinjectors. Disposable autoinjectors segment held a major market share during 2018. The segment has been anticipated to dominate the market and record a significant CAGR to attain USD 53,696.20 million by the conclusion of 2024. Growing demand for new drug testing, chemical testing, biopharmaceutical, and pharmaceutical drives the disposable autoinjectors segment to a large extent. Moreover, the disposable autoinjectors segment is likely to witness the highest CAGR of 17.90% over 2019 to 2024.
Regional Analysis - Autoinjectors Market
The market has been segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa. The autoinjectors market in the Americas has been segmented into North America and South America; the North American market is further divided into the U.S. and Canada. The European autoinjectors market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The autoinjectors market in Asia Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia Pacific. The autoinjectors market in the Middle East and Africa has been segmented into the Middle East and Africa.
The Americas is likely to maintain dominant position in the global autoinjectors market over the forecast period due to the growing demand for autoinjectors for application in cases of anaphylaxis and diabetes. The growing preference for targeted therapies in North America and the subsequent growth in the development channels of targeted therapies in the region is also likely to be a major driver for the autoinjectors market over the forecast period. The high disposable income of consumers in North America and the widespread advancement of the healthcare sector in the region are also major drivers for the autoinjectors market and are likely to drive the regional market at a solid growth rate over the forecast period. The rising prevalence of autoimmune diseases in North America is also likely to be a major driver for the global autoinjectors market over the forecast period; according to the CDC, more than 54 million Americans suffer from arthritis (2017), leading to a steady rise in the demand for autoinjectors.
Asia Pacific is expected to exhibit rapid growth in the global autoinjectors market over the forecast period due to the growing prevalence of diabetes in the region and the growing awareness about autoinjectors.
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