Global Autoinjector Market to Witness 16.9% CAGR During 2018 – 2024, Attaining the Market Size of USD 4.5 Billion by 2024

The global autoinjector market is predicted to grow at 16.9% CAGR during the forecast period with the market size reaching USD 4.5 billion by 2024.

Autoinjectors are small device designed to deliver specific dose of a particular drug, these are usually spring-loaded syringes mainly invented for comfortable and safe administration of drugs. Among the different types of autoinjectors market, it has witnessed high demand for disposable autoinjectors in over the years due to its pros such as handiness, less probability of infection, and easiness of use.

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Of the two products, prefilled injectors hold a larger share in the market and it is predicted that the product category will also grow at a faster rate during the forecast period.

On the basis of design, the market is categorized into standardized and customized injectors. Among the two, standardized design of injectors is the majorly sold category, whereas the market for customized design injectors will witness the higher growth during the forecast period.

On the basis of design, the market is categorized into standardized and customized injectors. Among the two, standardized design of injectors is the majorly sold category, whereas the market for customized design injectors will witness the higher growth during the forecast period.

The market is divided into multiple sclerosis, anaphylaxis, rheumatoid arthritis, diabetes and others. Among all therapies, rheumatoid arthritis segment is expected to grow at fastest rate in the market due to mounting occurrence of rheumatoid arthritis globally.

Hospitals and clinics, and home care settings are the different end users of autoinjectors. With the increasing need for self-administration drug delivery devices, growth in demand of autoinjectors in home care settings is growing significantly. Among all end users, the home care settings accounts the largest share in the autoinjectors market.

The primary growth drivers for autoinjectors market are mounting occurrence of chronic and lifestyle associated diseases, regulatory approvals, technological improvement and design advancement, inclination of patients regarding self-administration and promising reimbursements and government funding.

The growth for the autoinjectors market is also facilitated by patent expiry of biologics, novel formulations and innovative drug delivery systems, conjoined with invention and improvements in the biological drugs, increasing occurrence of anaphylaxis, mounting healthcare expenditure and accessibility of generic varieties of autoinjectors.

The major challenges for the growth of the autoinjectors market are inclination for alternative drug delivery modes such as epinephrine nasal sprays and oral diabetic agents and oral insulin, dearth of appropriate training for consuming autoinjectors, high price of injectors and improvement of autoinjectors for multiple drug viscosities.

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The largest autoinjectors market is North America as in this region the occurrence of chronic and autoimmune disease is increasing, In addition mounting occurrence of anaphylaxis, healthcare expenditure and promising reimbursement are also up surging growth of the North American autoinjectors market.

Fastest growth in the market Asia-Pacific is observed due to mounting occurrence of chronic and lifestyle associated diseases. In addition, growing medical, increasing occurrence of anaphylaxis tourism and mounting healthcare expenditure are also creating a positive impact on the autoinjectors market growth in the region.

Catering to the demand of these devices by investing on technologically advanced products in their product portfolio across the globe are their key player in the market, On December 2016, Mylan N.V. launched the authorized generic for EpiPen, as an autoinjector and the key players offering autoinjectors are Abbvie, Ypsomed, Consort Medical, Johnson & Johnson, Mylan, Haselmeier, ELI Lilly, Owen Mumford, Becton, Dickinson and Company, Amgen, Scandinavian Health Limited and Antares Pharma.

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