Auto Injectors Market Size Estimated to Grow at a CAGR of 17.4% During the Forecast Period 2021–2026
Advancement of Auto Injectors for Multiple Drug Viscosities is Driving the Growth of Auto Injectors Market
Hyderabad, India – July 12, 2021 /MarketersMedia/ —
Auto Injectors Market size is estimated at $45.4 billion in 2020, projected to grow at a CAGR of 17.4% during the forecast period 2021-2026. An auto-injector is a small pen-shaped device with a hypodermic needle that is used to administer a set dosage of medication to patients. The medicine is administered by placing the prefilled syringe hypodermic needle in the appropriate injection site and pressing a button. The optimal route of administration is intramuscular, but the location of injection is normally determined by the nature of the medication to be administered. Epinephrine auto-injectors are often used for people who are at risk of anaphylaxis.
In the military, auto-injectors are often used to shield personnel from chemical weapons agents. The rising prevalence of multiple sclerosis (MS) is driving the Auto Injectors industry. According to a report released in February 2019 in the journal Neurology by the National MS Society, almost 1 million adults in the United States had MS in 2017.
Auto Injectors Market Segment Analysis By Type:
Based on Type, Auto Injectors Market is segmented into Disposable and Reusable – Prefilled Auto Injectors and Empty Auto Injectors. Disposable accounted for the largest revenue market share in 2020 owing towards increased patient awareness and propensity toward self-administration, growing demand for auto-injectors due to rising prevalence of anaphylaxis and other emergency conditions, hypodermic needle, and easy-to-use disposable auto-injectors.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=508399
Report Price: $ 5900 (Single User License)
Auto Injectors Market Segment Analysis – Application:
Based on Application, Auto Injectors Market is segmented into Multiple Sclerosis, Anaphylaxis, Rheumatoid Arthritis, Diabetes and Cardiovascular Diseases. Rheumatoid Arthritis accounted for the largest revenue market share in 2020. In 2019, the demand for auto injectors was dominated by rheumatoid arthritis. The high prevalence of this category accounts for large share. According to the CDC, arthritis, RA, gout, lupus, and fibromyalgia affect an estimated 43.7 million people (22.7 percent of the total population) in the United States each year.
Auto Injectors Market Segment Analysis – By Geography:
Based on Geography, North America Auto Injectors Market accounted for the 39% revenue share in 2020 owing towards the rising prevalence of anaphylaxis and food allergies, as well as rapid technical advances in the healthcare field in this region. According to the American Academy of Pediatrics, almost 5.6 million children in the United States had food allergies in 2018, with less than half having access to an epinephrine hypodermic needle auto-injector prescription. Milk, peanut butter, and shellfish are the most common food allergies. The high prevalence of cardiovascular diseases, especially in the United States, will provide numerous opportunities for companies operating in this region to expand.
Auto Injectors Market Drivers
The Increasing Prevalence Of Anaphylaxis:
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=508399
Auto Injectors Market Challenges
Advancement Of Auto Injectors For Multiple Drug Viscosities:
OEMs face the most difficult task in designing single-design auto injectors for a variety of drugs and biologics with varying viscosities. To produce a spring rate that provides enough power to push higher-viscosity drugs and biologics through the prefilled syringe to the hypodermic needle, springs with different physical characteristics such as structure, length, and thickness are needed. Many pharmaceutical companies currently lack the expertise needed to develop auto injectors that can deliver multiple drugs and biologics with varying viscosities are expected to limit the Auto Injectors industry growth.
Auto Injectors Market Landscape:
The Auto Injectors Market’s main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Auto Injectors Market top 10 companies are Janssen Global Services, LLC, Antares Pharma, Inc., Amgen Inc., Becton, Dickinson and Company, Sanofi, Pfizer, Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Novartis International AG, Bayer AG and Eli Lilly and Company.
Acquisitions/Product Launches:
In January, 2021, Eli Lilly and Company acquired Prevail Therapeutics Inc. Prevail’s portfolio of clinical-stage and preclinical neuroscience assets will serve as the foundation for Lilly’s new gene therapy program, which will be anchored by the company’s clinical-stage and preclinical neuroscience assets.
In April, 2020, Teva Pharmaceutical Industries Ltd launched autoinjector system for the injection of AJOVY® (fremanezumab-vfrm) in U.S. AJOVY is the only anti-CGRP migraine medication with quarterly and monthly subcutaneous dosing options, and is recommended for the prevention of migraine in adults.
Key Takeaways
Owing to new formulations and drug delivery systems, as well as innovation and advances in the biological drugs, the demand for Auto Injectors is growing thereby, driving the market growth.
Geographically, North America Auto Injectors Market held the largest revenue share of 39% in 2020 owing to the involvement of potential players who are developing innovative products, advances in medical device technology, high investments in R&D and support of government. In the final report, the scope of the Auto Injectors Market for various regions will be given.
The Auto Injectors Industry is expanding owing to enhanced R&D efforts by companies to develop quick, cost-effective, and new technology-based auto injectors for the treatment of chronic diseases such as rheumatoid arthritis and multiple sclerosis.
The factors driving the growth of the Auto Injectors Industry globally are rising self-medication activities, the demand for tailored drug delivery systems for the treatment of chronic diseases, and government reimbursements and marketing approvals for auto-injectors.
Related Reports :
A. Injectable Drug Delivery Market
https://www.industryarc.com/Report/1255/injectable-drug-delivery-market-analysis.html
B. Self-Testing and Self Injectable Devices Market
https://www.industryarc.com/Report/17015/self-testing-self-injectable-devices-market.html
For more Lifesciences and Healthcare Market reports, Please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: (+1) 970-236-3677
Website: https://www.industryarc.com/
Source: MarketersMedia
Release ID: 89035347
Copyright © 1999-2013 SproutNews.com
