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 Market Research, the global auto injectors market is expected to grow at a CAGR of 18.6% during 2017 - 2023.
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Increasing cases for 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 cases of anaphylaxis, increasing cases with multiple sclerosis, rising geriatric population and high production of biologics. Additionally, rising healthcare expenditure leading to increase in research and development spending, various beneficial features of auto-injectors also contribute to the growth of the overall market. High cost of auto-injectors and stringent regulatory requirements are some of the key factors restraining the global market growth.
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. Based on manufacturing design, standardized auto-injector has been the larger contributor to the growth of the global market in comparison to customized auto-injector. Anaphylaxis has been the largest application for auto-injectors, followed by multiple sclerosis, rheumatoid arthritis and other diseases. 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% to1% 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, 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. The U.K. has been the largest contributor to the European auto-injectors market, followed by Germany and France. The 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, high healthcare expenditure which further leads to raised research and development spending, and increasing geriatric population.
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Increasing demand for biologics 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. In addition, 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 fuel the growth of the market
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 also increasing, due to reduced cost and facilitating patients in self-administering their medication, thus leading to the growth the global auto-injectors market.
Key players in the auto-injectors market
Some of the key players operating in the global auto-injectors market include Pfizer, Inc., Becton, Dickinson & Co., Mylan, Inc., Bayer AG, Antares Pharma Inc., Novartis International AG, Unilife Corp., Janssen Global Services, LLC, Biogen Idec, and Eli Lilly and Company.
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