Asia-Pacific is Observed to Witness Fastest Growth in the Autoinjectors Market, Analysis 2024by VynZ Research Marketing Research Consultant
The autoinjector market is driven by the factors such as high prevalence of chronic and lifestyle associated diseases, increasing number of regulatory approvals, technology and design improvement, escalating patient attentiveness and inclination of patients regarding self-administration.
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The market for autoinjector devices is primarily driven by the mounting self-medication practice, and promising reimbursements scenario and increased funding from government organizations, especially in the developed economies. The high prevalence of diabetes across the globe further propels the demand for these injectors globally. For instance, according to the World Health Organization (WHO ), globally the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014.
Based on product, the autoinjector market is categorized into prefilled and fillable injectors. Of the two products, prefilled injectors hold the larger share in the market and it is predicted that the product category will also grow at the faster CAGR during the forecast period. On the basis of type, the market is categorized into disposable and reusable injectors. Of the two, disposable injectors will witness higher growth during the forecast period.
Based on end users, market is segmented into hospitals and clinics, and home care settings. Owing to the increasing need for self-administration of drug, majority of autoinjectors are consumed for self-administration of drugs leading to the higher demand of autoinjectors in home care settings.
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North America accounted for the major share in the autoinjector industry in 2017, globally as the players in the region are continuously investing capital for the research and development of autoinjectors for different therapeutic applications. Asia-Pacific is observed to witness fastest growth in the market, due to mounting occurrence of chronic and lifestyle associated diseases. In addition, escalating occurrence of anaphylaxis, growing medical tourism and mounting healthcare expenditure are also creating a positive impact on the autoinjectors market growth in the region.
Abbvie, Ypsomed, Consort Medical, Johnson & Johnson, Mylan, Becton, Dickinson and Company, Amgen, Haselmeier, ELI Lilly, Owen Mumford, Scandinavian Health Limited and Antares Pharma are the key players offering autoinjectors.
Source: VynZ Research
Created on Feb 6th 2019 05:17. Viewed 176 times.