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Auto-Injectors Market will Reach US$ 2.5 Billion by the End of 2020
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Meanwhile, the SHL Group had dominance in the customized auto-injectors segment. Its product portfolio, containing a multitude of prefilled customized auto-injectors, is attributable to its current market lead. Some of the other prominent companies in the global auto-injectors market are Becton, Dickinson and Company, Unilife Corporation Biogen Idec, Inc., Antares Pharma, Inc., Novartis International AG, Pfizer, Inc., and Ypsomed Holding AG.
The innovation-driven attribute of the auto-injectors market has impelled the key players to invest in research and development effectives. As this paves way for the introduction of novel and more effective auto-injectors, the market will continue exhibiting an impressive CAGR between 2014 and 2020. According to TMR, the auto-injectors market will reach US$2.5 bn by the end of 2020, as against US$665.0 mn in 2013. If these numbers hold true, the global auto-injectors market will rise at a CAGR of 18.6% between 2014 and 2020.
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Regionally, North America held dominance in the global market in 2013. Not only does the region witnesses a high incidence of anaphylaxis, it has favorable reimbursement policies in place that encourage patients to opt for advanced treatments. Besides this, North America’s economic stability accounts for impressive growth witnessed by the auto-injectors market in the region. In addition, Asia Pacific is expected to offer positive growth opportunities to the market in the coming years. Among products available, the market is expected to witness high demand for prefilled auto-injectors because they are easy to use.
According to TMR, the rising incidence of rheumatoid arthritis besides various food allergies will fuel the demand for auto-injectors in the coming years. However, the high prices of auto-injectors often restrain growth for the market. The price factor assumes much importance especially among patients in emerging nations, which incidentally exhibit lucrative scope for growth. Furthermore, regulatory concerns and rising cases of needle-stick injuries and infections are likely to emerge as key bottlenecks for the market. Be it as it may, the demand for auto-injectors will continue accelerating as patients continue choosing these products due to their ease-of-use.
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Various types of auto-injectors are currently available in the market. Research and development activities adopted by the market players will spur innovations, which in turn is expected to enable the global auto-injectors market gain momentum. The market will also gain from other factors such as improving patient-compliance and recent developments to simplify self-administration of drug, rising incidence of chronic ailments, and increasing use of biologics for drug delivery.
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Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
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