According to a new market research report “Global Auto-Injectors Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insight by Product (Prefilled, Fillable), by Manufacturing Design (Standardized, Customized), by Therapeutic Application (Anaphylaxis, Multiple Sclerosis, Rheumatoid Arthritis, Others)” published by P&S Intelligence, the global auto-injectors market is expected to grow at a CAGR of 18.6% during 2017 - 2023.
Explore Report Description at: https://www.psmarketresearch.com/market-analysis/auto-injectors-market
Rising prevalence of anaphylaxis drive the global market
According to the study, the global auto-injectors market is likely to grow significantly during the forecast period, due to increasing prevalence of anaphylaxis, increasing cases with multiple sclerosis, rising geriatric population and high production of biologics. Additionally, increasing healthcare spending and various beneficial features of auto-injectors also contribute to the growth of the overall market. However, high cost of auto-injectors and stringent regulatory requirements are some of the key factors restraining the growth of global auto-injectors market.
Insights on market segments
As per the findings of the research, the prefilled auto-injectors is the larger product category in the global auto-injectors market, primarily due to increasing availability of user friendly prefilled auto-injectors in disposable form. Based on manufacturing design, standardized auto-injector was the larger contributor to the global auto-injectors market in comparison to customized auto-injector in 2016. Anaphylaxis was the largest application for auto-injectors, followed by multiple sclerosis, rheumatoid arthritis and other diseases, in 2016. According to World Allergy Organization (WAO), the prevalence of anaphylaxis ranged from 2% of the population in the US, to 0.1% of the population in Korea, and 0.6% to 1% of the population in Australia.
North America stands as the largest auto-injectors market
Geographically, North America has been the largest market for auto-injectors, with the U.S. being the larger contributor to the regional market, compared to Canada. Increasing cases with diabetes and anaphylaxis, rising geriatric population, and increasing production of biologics are some of the factors that have been driving the growth of the North American auto-injectors market. North America is expected to contribute over 67.0% to the global auto-injectors market by 2023. The U.K. has been the largest contributor to the European auto-injectors market, followed by Germany and France. The auto-injectors market is expected to witness the fastest growth in Asia-Pacific during 2017 - 2023, owing to increasing cases of anaphylaxis, increasing awareness about needle-stick injuries, increasing healthcare expenditure, and growing geriatric population.
Emerging biologic drug therapies largely impacts the market
Globally, the increasing demand for biologics has been playing a key role in the growth of the auto-injectors market. The rapidly increasing burden of anaphylaxis, multiple sclerosis, rheumatoid arthritis and other diseases further compels government organizations and healthcare providers to provide improved facilities for effective disease treatment, leading to rising number of launches of technologically advanced products, globally.
Most of the biologics, such as monoclonal antibodies, anticoagulants, and vaccines are large molecules which need to be administered parenterally to achieve the desired therapeutic effects. The demand for development of injectable biologic therapies is increasing, since many peptides break down too quickly in the stomach and after which they no longer remain useful for treatment. Also, various biologic drugs and vaccines require to be injected directly into the bloodstream. The introduction of biosimilars would enforce the usage of injectable in auto-injectors, and thus the consumption and demand of auto-injectors is expected to increase.
Globally, the pharmaceutical industry is observing a shift from administration of injections in clinician settings to home care setting. The medical device manufacturers are also shifting their focus towards the development of user friendly and patient compliant devices. The point-of-care medication administration is increasing due to improving medical services at the bed side. The auto-injectors have emerged as an impact of this change in the medical industry. Auto-injectors meet the demand of physicians and patients for easy and effective drug administration methods. They also help to reduce medication error and increase safety and convenience. The popularity of auto-injector devices is increasing due to reduced treatment cost and facilitating patients in self-administering their medication, thus leading to the growth of the global auto-injectors market.
Key players in the market are collaborating to offer advanced auto-injectors
Key companies in the auto-injectors market is collaborating to offer advanced auto-injectors. In March 2017, Mylan N.V. entered in a global settlement and license agreement with Genentech Inc and Roche Holding AG in relation to patents for Herceptin (trastuzumab), which provides Mylan N.V. with global licenses for its trastuzumab product. This is expected to help Mylan N.V. to commercialize trastuzumab globally, except in Japan, Brazil and Mexico.
Some of the key players operating in the global auto-injectors market include Mylan N.V., Antares Pharma Inc., Becton, Dickinson & Co., Eli Lilly and Company, Pfizer, Inc., Bayer AG, Novartis International AG, Bristol-Myer Squibb, Novartis AG, Amgen Inc. and Biogen Inc.
GLOBAL AUTO-INJECTORS MARKET SEGMENTATION
By Manufacturing Design
By Therapeutic Application