Autoinjectors Market to grow at a Significant Rate During the Forecast Period
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Availability of generic versions of autoinjectors is driving the growth of Global Autoinjectors Market in the forecast years, 2022-2026.
According to TechSci Research report, “Global Autoinjectors Market By Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis, Others) By Design (Standardized v/s Customized) By Product (Prefilled v/s Fillable) By Technology (Automated v/s Manual) By Type (Disposable v/s Reusable) By Route of Administration (Intravenous v/s Subcutaneous) By End User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings) By Region, Competition Forecast & Opportunities, 2026”, the global autoinjectors market is expected to show a double digit CAGR growth in thee upcoming five years, 2022-2026. The market is expected to show the growth owing to the undeniable factors like increasing cases of anaphylaxis and population developing allergies out of various things. The changing lifestyles and life choices has rendered the immune system of the world population at risk. This has resulted in development of various allergies among the population. Moreover, rising demand of epinephrine autoinjectors and demand for adrenaline injectors among the sports personnel is driving the growth of the market.
Autoinjector is a medical device that delivers the drug in the system and does not require a professional to do so. It is a self-administrating kind of injection which is needle-less and is often administered in thighs or buttocks. The autoinjectors are often applied in case of rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, etc. Technological advances like accuracy, better efficiency, lower probability of needle-stick injuries and complications, consistent dosage delivery, simplicity and safety are prevailing the preference of the device among the population, thereby driving the growth of global autoinjectors market, positively in upcoming five years.
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The global autoinjector market is segmented by therapy, design, product, technology, type, route of administration, end user, regional distribution, and competitional landscape. Based on type the market is divided between disposable and reusable autoinjectors. Since disposable autoinjectors are easier to use, more convenient, and is often according to the patient’s preference, it holds the larger market share as compared to reusable autoinjectors. Based on product, the market is categorized into prefilled or fillable autoinjectors. These are majorly types of reusable autoinjectors and prefilled reusable autoinjector holds the larger market among the two. The dominance in the market is owed to factors like standard prefilled barrels containing therapeutic drugs. Prefilled autoinjectors eradicates the chances of any human error while measuring the drug dosage and thus is preferred.
Some of the major competitors in the market are Abaxis Inc., BioMerieux SA, Idexx Laboratories Corporation, Heska Corporation, Virbac SA, Zoetis Inc., Woodley Veterinary Diagnostics Ltd., Randox Laboratories Ltd., Neogen Corporation, Thermo Fisher Scientific Inc., among others. The companies are focusing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Home care end users are potentially holding fastest market share growth in the next five years. Rising adoption of medical devices that are easily accessible and demonstrates easier user interface among the home care systems is going to be a major growth factor for the future market. Growing geriatric population and increasing instances of diabetes among the population is inviting more self-administered dosage of drugs thereby promoting the idea of autoinjectors. Patients with fear of needles benefit most out of the autoinjectors that are available needle less. With best medical and health facilities, North American region is expected to hold the largest market share. Whereas Asia Pacific could be the fastest growing market owing to its increasing diabetic patient count, rising cases of anaphylaxis, in Asian countries like China, Japan, India, South Korea, etc. New players might benefit with the increased awareness drives regarding the usage and advantages of the autoinjector devices,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Autoinjectors Market By Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis, Others) By Design (Standardized v/s Customized) By Product (Prefilled v/s Fillable) By Technology (Automated v/s Manual) By Type (Disposable v/s Reusable) By Route of Administration (Intravenous v/s Subcutaneous) By End User (Hospitals & Clinics, Ambulatory Care Settings, Home Care Settings) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Autoinjectors and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Autoinjectors.
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Created on Apr 8th 2021 08:02. Viewed 93 times.