Pune, India, June 13, 2019 (GLOBE NEWSWIRE) -- According to Market Research Future (MRFR), the global autoinjectors market is expected to witness significant growth at a compound annual growth rate of 17.42% over the forecast period of 2019 to 2024. Various factors are estimated to contribute to the growth, and the market is expected to reach a valuation of USD 79,741 million by 2024.
Autoinjectors are medical devices, often in the form of spring-loaded syringes, designed to deliver a dosage of a specific drug. Autoinjectors are preferred by medical professionals for their easy-to-use design and can be used by patients, or by untrained personnel.
The growth in global autoinjectors market is attributed to factors such as the increasing prevalence of targeted therapies, growing occurrence of health disorders such as anaphylaxis, asthma, and diabetes, among others.
Additionally, the growing technological advancements, and expenditure on the growth of the pharmaceutical, and biopharmaceutical sector are expected to contribute substantially to the growth of the market.
On the other hand, stringent regulatory policies are likely to hinder the market growth over the forecast period. However, the shifting focus of market players distribution of autoinjectors through on e-commerce has been assessed as a lucrative opportunity for market growth of autoinjectors.
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Key Players
The key players identified in the global autoinjectors market are AbbVie Inc. (US), Amgen Inc. (US), Antares Pharma (US), Becton, Dickinson and Company (US), Consort Medical (UK), Eli Lilly and Company (US), Johnson & Johnson Services Inc. (US), Mylan N.V. (US), Owen Mumford Ltd (UK), SHL Group (Taiwan), Teva Pharmaceutical Industries Ltd (Israel), and Ypsomed (Switzerland).
Segmental Analysis
The global autoinjectors market has been segmented on the basis of product type, design, therapeutic application, distribution channel, and region.
Based on product type, the autoinjectors market has been segmented into disposable autoinjectors, and reusable autoinjectors. The disposable autoinjectors segment is expected to dominate the market, growing at the highest CAGR of 17.90% over the forecast period.
The segment is expected to grow due to the rising demand for the testing of new drugs and chemicals. Additionally, the dynamic growth in the pharmaceutical and biopharmaceutical industries is likely to contribute to market growth. These factors are expected to influence the segment market positively, and the segment is assessed to reach USD 53,696.20 million by the end of the forecast period.
Based on the design, the market has been segmented into customized autoinjectors and standardized autoinjectors.
Based on therapeutic application, the market has been segmented into anaphylaxis, diabetes, multiple sclerosis, rheumatoid arthritis, and others.
Based on the distribution channel, the autoinjectors market has been segmented into hospital pharmacies, retail pharmacies, and others.
North America Expected to Lead the market, followed by Europe
Based on the region, the market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas are the dominating region of the global Autoinjectors Market. This region is expected to sustain their leading market share, growing at a CAGR of 16.60% over the forecast period. Favorable factors, such as an established healthcare sector, technological advancements, and high investments, are likely to contribute to the market share.
Europe is the second largest region of the market and is likely to retain its position by exceeding a valuation of USD 24,307.74 million by 2024. The market in Europe is expected to grow, owing to the increasing prevalence of anaphylaxis, cancer, and diabetes. Additionally, the market players are focusing on research and development activities over the forecast period to introduce innovations to the drug delivery system.
Browse the market data and information spread across 130 pages with 121 data tables and 22 figures of the report “Autoinjectors Market- Forecast 2019-2024” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/autoinjectors-market-6311
The Asia Pacific is assessed as the fastest-growing region of the market, at the highest growth rate of 18.95% over the forecast period. The market in the region is expecting to grow significantly owing to the focus of emerging economies in the region such as India, China, and Japan, on expanding their healthcare sector, which has led to an increase in the investments. The growing prevalence of diabetes and asthma in the region is expected to raise the demand for autoinjectors over the forecast period.
The Middle East and Africa region are expected to witness slow, gradual growth over the forecast period, register the smallest market share. This is attributed to the weak healthcare sector in Africa, with a lack of technological advancements and investments. The middle eastern countries such as Saudi Arabia, the United Arab Emirates, and Kuwait are expected to contribute the majority of the market share, owing to the better healthcare infrastructure.
Industry News
June 2019 – FDA approved two new self-administration options - autoinjector and pre-filled syringe, for GSK’s Nucala, which is used in severe eosinophilic asthma (SEA).
June 2019 – ZwickRoell announced their successful use of robotic technology in the testing of injectors, medicinal bottles, syringes, and injecting pens.
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