Global Autoinjectors Market is anticipated to grow at a 19.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Autoinjectors Market - Global Industry Analysis, Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030”.” According to the report, the global autoinjectors market is anticipated to grow at a CAGR of 19.0% from 2019 to 2030.
The global autoinjectors market is driven by growing popularity of targeted therapies and increasing number of regulatory approvals. Moreover increasing incidences of anaphylaxis, availability of generic versions of autoinjectors and growing geriatric population is anticipated to further contribute to the growing demand of the global autoinjectors market during the forecast period. However, availability of conventional drug delivery systems like syringes s likely to restrain the market to a certain extent.
The advent of novel technologies in the field of autoinjectors has been pivotal in contributing to the growing demand of these devices worldwide. Adoption of latest technologies like variable dose drug delivery and feedback mechanism on time and dosage of drugs have been extremely beneficial in supporting the growth of this industry. For instance, SmartPilot technology for YpsoMate product line, manufactured by Ypsomed AG, offers several advanced features which enables administration of drugs with better efficiency and efficacy. Features like drug identification, reminder of injection time and date, variable dosage delivering capacity and feedback systems have raised the standards of drug delivery technologies, which is further anticipated mature in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, and Anaphylaxis), Type (Disposable, and Reusable), End Users (Home Care Settings, and Hospitals & Clinics) - Global Analysis & Forecast 2023 in detail along with the table of contents:https://www.marketindustryreports.com/autoinjectors-market/58
Increasing Incidences of Anaphylaxis
Anaphylaxis is one of the most common type of chronic disease in the world. The occurrence of an anaphylactic episode or allergic reaction can range from mild to severe life-threatening outcomes. Emergency administration of the medication epinephrine, during an anaphylactic episode is extremely crucial to prevent any detrimental outcomes. According to World Allergy Organization (WAO), the estimated prevalence of allergy among the population of the world ranges between a staggering 10 to 40%. Rising incidences of anaphylaxis among the global population is anticipated to further contribute to the growing demand of autoinjectors.
Availability of Alternate Drug Delivery Systems to Restrain the Market
Availability of alternate mode of drug delivery systems is one of the major factors, which is anticipated to limit the extensive adoption of autoinjectors and thereby limiting the growth of the market to a certain extent. Factors such as, high costs and availability of these devices as compared to conventional dug delivery methods have been significant in impacting the prosperous growth of the global autoinjectors market.
Various complications and risk related associated with auto injectors procedures have been affecting the growth of the auto injectors industry inversely. Complications such as Preference for alternative drug delivery modes and high cost of auto injectors as compared to other drug delivery mode can impact the growth of auto injectors market.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, increasing incidences of anaphylaxis and availability of generic versions of autoinjectors is anticipated to present a worthwhile growth scenario for the autoinjectors market in this region. Furthermore, increasing awareness, rising disposable incomes, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Autoinjectors Market
The prominent players in the global autoinjectors market are Abbvie, Mylan, ELI Lilly, Ypsomed, Amgen, Becton Dickinson and Company, Owen Mumford, Consort Medical, Haselmeier and Shl Group among others.
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