Press release
Auto-Injectors Market will Reach US$ 2.5 Billion by the End of 2020
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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.
Favorable Reimbursement Policies to Support Growth in North America
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.
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Rising Incidence of Chronic Ailments Emerges as Chief Growth Driver
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.
Research and Development Initiatives by Market Players to Spur Innovations
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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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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