Valley Cottage, NY -- (SBWIRE) -- 03/20/2019 -- Anaphylactic shock is the most common chronic disease in Europe and North America region. Allergy UK says, approximately 20% of patients struggle with anaphylactic reaction in Europe. Anaphylactic shock requires adrenaline auto injector devices to be treated. Adrenaline auto injectors are sold under various brands, such as Emerade, Epipen and Jext in the UK. The global auto injectors market was valued at US$ US$ 1,700 Mn, in terms of value, in 2016, according to the latest research by Future Market Insights (FMI). The report on auto injectors further projects significant growth potential with average year-on-year growth rate of 15.1% through 2026.
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Auto injectors are an effective mode of administration for intramuscular drugs. User friendly attributes of auto injectors reduce the burden of carrying conventional needles and syringes. However, limited awareness regarding proper use of auto injectors and high price of branded products are some of the important factors curbing the adoption of auto injector devices in emergency applications. Based on research conducted by the McGill University's Health Centre Research Institute, allergic patients procuring EpiPen for emergency are not actually using the product as quickly as they should. Further, a number of patients visiting the emergency department due to severe anaphylaxis reaction are already administered epinephrine, says the Journal of Allergy and Clinical Immunology. Failure to use auto injectors at the right time is mainly due to lack of knowledge about signs of anaphylaxis. Such lack of awareness about the disease and product creates significant challenges, in terms of product adoption, for the manufacturers. Apart from higher pricing, limited shelf life of auto-injector pen & under supply of products (Ex. EpiPen) are the major challenges hindering the patient preference for auto injectors in emergency.
Increasing innovations in materials and device functions of auto-injectors are driving the expansion of the auto injector market. In September 2015, Bayer HealthCare reported the launch of Betaconnect- an electronic auto injector for the treatment of relapsing-remitting multiple sclerosis (RRMS). This auto injector offers complete drug dosage for improved compliance and potentially reduce the overall cost. The SHL Group offers a variety of auto injectors that can accommodate changes in injections, such as larger volumes, high viscosity and others. The auto-injector manufacturers are focusing on improving the functionality of auto-injectors to improve disease management and treatment.
Fierce competition in the auto injectors market due to the patient protection act has created an oligopolistic market environment. As a result, brands, such as EpiPen auto-injector, BD Physioject disposable auto injector, etc., have maintained their ranks in the market. However, recent patient expiration and increasing pressure from government bodies will led to reduction in auto injector prices and thus, reduce the profitability for branded manufacturers. Generic auto injectors are expected to present high growth opportunities for investors due to growing support from private insurance providers. Insurance services providers are dropping coverage on highly priced auto injectors and covering newly launched half priced generics. Overall revenue from pre-filled syringes is expected to grow during the forecast period due to rising need for targeted and sustained drug delivery. New entrants must comprehensively study the Auto Injectors market to penetrate and sustain in the price sensitive market. The study of the market scenario will provide insights about the business opportunities
FMI has segmented the global auto injector market by product type, indication, distribution channel & regions. In terms of revenues, pre-filled auto injectors will hold substantial market share over the forecast period. On the contrary, the Fillable auto-injectors segment will exhibit limited investment opportunities, in terms of revenue, through 2026.
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This FMI report covers some of the key companies operating in the auto injectors market, such as Sanofi, Pfizer, Inc., Becton, Dickinson and Company, Mylan N.V., Novartis AG, Janssen Global Services, LLC, Antares Pharma, Amgen Inc. Bayer AG, & Eli Lilly and Company.
Definition
Auto-injectors devices are new injectable with a user-centric design approach that automatically inject a needle and perform the surgical procedure, thereby reducing dependence on healthcare professionals. These are specialized instruments that can be used to avoid needle stick injury and reduce needle phobia among patients. These are revolutionary instruments which have been invented to ensure complete dosage with painless drug delivery.
About the Report
FMI conducted a research study on auto-injectors market for the forecast period 2016 to 2026. The report offers a comprehensive evaluation of the business opportunities prevailing in the auto-injectors market along with insights on the consumption trend, dynamics, incidence, patient awareness level, pricing analysis and market competition. The report elaborates on the macroeconomic factors influencing the dynamics of auto-injectors market and its futuristic potential.
Segmentation
The report offers a comprehensive taxonomy of auto-injectors market based on product type, indication, distribution channel and region. Auto-injectors are of two types: Prefilled Auto-injectors & Fillable auto-injectors. These auto-injectors are distributed through various sales channel. Traditional sales channels, such as hospital pharmacies and retail pharmacies, are the primary point of contact for the sales. The auto-injectors market has been analyzed across regions of North America, Latin America, Europe, Asia Pacific Excluding Japan, Japan and MEA.
Additional Questions Answered
Some of the additional questions addressed in this report on auto-injectors market are-
What is the revenue potential of generic auto-injectors across regions of North America and Europe?
Who are the key competitors and what are their portfolios in auto-injectors market?
What is the price point for generic auto-injectors manufacturers in developed countries?
How interventions from regulatory authorities and insurance service providers are shaping Auto-injectors market growth?
For answers to all possible questions required for gauging performance of auto-injectors market, get in touch with our expert analyst.
Research Methodology
FMI has analyzed the market size of Auto-injectors market using the triangulation methodology. We tracked the revenue of key players operating in this segment. Key Players have been segmented at a Tier-level with respect to their revenues, product portfolio and geographical presence. This process involved analysis of various company investors' presentations, SEC filings, annual reports, earning call transcripts, 10k reports and press releases. This task was done to fetch substantial information about the key players, their respective revenues and estimate their respective auto-injectors market share.
The forecast for auto-injectors was conducted based on several macro factors, such as per capita healthcare spending, per capita pharmaceutical spending and availability of reimbursements, patient awareness and other macro factors associated with the healthcare industry. In addition, we have considered the following assumptions during the market forecasting:
Growth in number of patients using auto-injectors and treatment seeking rate
Change in price/ per patient spending on drugs
Adoption curve for available treatment
Impact of launch of new products
Trends pertaining to price sensitivity, patient preference, prescription pattern and pipeline development
A Methodology of this Report is Available upon Request @ https://www.futuremarketinsights.com/askus/rep-gb-1642