Newark, NJ, Jan. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global auto injectors market is expected to grow from USD 27.82 Billion in 2017 to USD 172.38 Billion by 2025 at a CAGR of 27.63% during the forecast period 2018-2025.
With the current generation of large molecule drugs, pharmaceutical industry faces growing need for the new device solution that delivers high viscosity drugs in larger volumes. Moreover, as the number of originated drugs coming off the patent in few years, their biosimilars are soon to enter into the market. Therefore, there is a rising need for an auto injectors to delivers the high volume of these drugs into the body. In addition to this, with the advancement of Internet of Things (IoT) and machine learning technology, connectivity is the next future trend to be added in the auto injector market, to enhance the quality of life for patients and caretakers.
An auto injector is a medical device designed to deliver a dose of particular drug in to the body. Auto injectors are easy to use and generally consists spring-loaded syringes. These are generally intended for self-administration by patients, or administration by untrained personnel. Auto injectors are used to address acute and chronic medical needs, including rheumatoid arthritis and psoriasis, allergic reactions, migraine headaches, acute pain and other therapies. It offers various advantage such as they reduce chances of needles sticks to injuries, phobia of needles, and maintain consistency of dose accuracy.
Global auto injectors market is expected to witness rapid growth over the forecast period, as auto injectors have become one of the new stander for injectable drug delivery system. However, complexity in integrating auto injectors systems and preference for alternative drug delivery modes is expected to hamper the market growth over the forecast period.
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Key players operating in the global auto injectors market include Biogen Idec, Inc., Pfizer, Inc., Unilife Corporation, Scandinavian Health Limited (SHL) Group, Antares Pharma, Inc., Becton, Dickinson and Company, Novartis International AG, Mylan, Inc., Ypsomed Holdings AG, Sanofi S. A., ELI Lilly among others. To enhance their market position in the global auto injectors market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in August, 2018, Antares Pharma announced that US Food and Drug Administration (FDA) approved Teva Pharmaceutical Industries' epinephrine auto injector drug device combination, indicated for emergency treatment of severe allergic reactions including those that are life threatening (anaphylaxis) pediatric patients and in adults. Teva Pharmaceutical utilizes the Antares Pharma VIBEX device for the drug-device combination and has been approved with an AP rating.
- For instance, in October 2019, BD (Becton, Dickinson and Company) announced the launch of the BD Intevi 1mL two steps disposable auto injector, a device combining auto injector and pre-fillable syringe in one integrated system. This auto injectors are designed to promote the patient ease of use when self-injecting.
Rheumatoid arthritis segment is dominating the auto injectors market with USD 6.61 Billion in 2017
Therapy segment is classified into rheumatoid arthritis, multiple sclerosis, anaphylaxis, cardiovascular diseases, psoriasis and migraine. Rheumatoid arthritis segment is dominating the auto injectors market with USD 6.61 Billion in 2017. It is a chronic inflammatory disorder that can cause joint pain and damage throughout the body. It is a long-term, progressive, and disabling autoimmune disease affecting over 1.3 million Americans and as much as 1% of the worldwide population, mostly women. In addition to this, worldwide annual incidence of RA is approximately 3 cases per 10,000 population, and the prevalence rate is approximately 1%. The demand for auto injectors is rising for the rheumatoid arthritis drug delivery, as it is one of the most advanced and convenient mode of treatment currently available in the market.
Disposable segment is estimated to grow with the highest CAGR of 30.61% over the forecast period
Type segment includes disposable and reusable. Disposable segment is estimated to grow with the highest CAGR of 30.61% over the forecast period due to their low cost and easy handling. In recent years, several designs of single use, disposable auto injectors have entered into the market. It offers many benefits over the reusable auto injectors such as safety and ease of use, as the patients does not have to load or unload the device.
Hospital segment held the largest market share of 56.92% in 2017
End users segment is divided into homecare, and hospitals. Hospital segment held the largest market share of 56.92% in 2017. Proper diagnosis and treatment provided at hospitals will lead to the growth of segment in future. Thus, availability of resources and proper care at hospitals are playing chief role in shaping the growth of the segment.
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Regional Segment Analysis of the Auto injectors Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global auto injectors market with USD 13.68 Billion in 2017 where as the Asia Pacific region held the second dominant position in the market. U.S. is the major revenue contributor in the North America auto injector market, with the rising cases of anaphylaxis and rheumatoid arthritis. In addition to this, presence of key established players in the region and robust spending on healthcare sector further fuelling the growth of market in this region. In the Asia Pacific region, countries like China and India have huge growth potential in the auto injector market. This is mainly due to increase in healthcare awareness, expenditure and regulatory initiatives to prevent needle stick injuries.
About the report:
The global auto injectors market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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