Auto-Injectors Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global auto-injectors market size is expected to reach
USD 3.18 billion by 2026, according to a new report by Grand View Research,
Inc, exhibiting a CAGR of 19.5%. Rising
incidence of anaphylactic shock and other diseases such as diabetes,
rheumatoid, & multiple sclerosis along with increasing approvals of
auto-injectors are impelling growth.
Increasing
prevalence of life-threatening allergies and rising demand for these devices
are expected to aid growth. As per the Food Allergy Research & Education,
around 200, 000 people every year need emergency medical care for allergic food
reactions.
In addition,
increasing approvals are anticipated to drive growth. For instance, in August
2018, U.S. FDA approved the first generic epinephrine auto-injector of Teva
Pharmaceuticals to treat emergency allergic reactions, including anaphylaxis.
Generic versions of EpiPen Jr & EpiPen of 0.15 mg & 0.3 mg,
respectively, are indicated for pediatric and adult patients weighing more than
33 pounds.
Moreover,
manufacturers are also developing new products and innovative technologies,
which is expected to propel market growth. For instance, in June 2018, AbbVie
GK launched Humira, which is a fully human antitumor necrosis factor alpha monoclonal
antibody formulation with lock function & injection start & end
alerts as well as an inspection window and injects completely in 10 seconds.
Demand for these devices is increasing as they are designed in accordance with
patient acceptance and compliance. Technological advancements are anticipated
to make them more convenient and user-friendly. This is encouraging patients to
adopt this technology for chronic illnesses.
Further key
findings from the report suggest:
- Disposable
auto-injectors emerged as the largest segment owing to convenience and
ease of use
- Homecare
settings accounted for largest share in end-use segment owing to increasing
demand of products for daily administration of insulin
- North America
dominated the auto-injectors market with largest share in 2018. Increasing
demand for new technologies along with advanced healthcare infrastructure
is expected to boost market growth during the forecast period
- Asia Pacific is
expected to witness fastest growth during the forecast period owing to
increasing number of diabetic patients
- Some of the key
players are Eli Lilly; Scandinavian Health Ltd.; AbbVie, Inc.; Amgen; Owen
Mumford; Ypsomed; Teva Pharmaceutical; Biogen Idec; Mylan N.V.; Pfizer,
Inc.; and Sanofi
Access full
research report on global auto-injectors market:
www.grandviewresearch.com/industry-analysis/auto-injectors-market
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Created on Sep 18th 2019 05:10. Viewed 426 times.