Future Trends and Competitive Landscape of Auto Injectors Market by 2016 - 2024
Auto-Injectors are easy to use, and intended for self-administration by patients or any other care taker or personnel at home.
New York, NY -- (SBWire) -- 12/12/2016 --An auto-injector is a small, pen shaped device, which contains a hypodermic needle used for delivering a fixed dose of drug to patients. The drug is delivered by inserting the syringe needle at the desired site of injection, and on a push of a button. The site of insertion usually depends upon the nature of the drug to be administered, however intramuscular route is the preferred route of administration. Most of these auto-injector devices are spring loaded, pre filled syringes, and are used during serious allergic reactions also known as anaphylaxis or anaphylactic shock, and also in the cases of rheumatoid arthritis, and multiple sclerosis among others. Auto-Injectors are easy to use, and intended for self-administration by patients or any other care taker or personnel at home.
Increasing prevalence and incidences of anaphylaxis and food allergies around the world is majorly responsible for the growth of the global auto-injectors market. According to American Academy of Allergy Asthma and Immunology (AAAAI) around 15 Mn people in U.S. suffered from food allergies in 2015, while 17 Mn people in Europe out of which 3.5 Mn children suffered from food allergies in 2015 according to European Academy of Allergy and Clinical Immunology (EAACI). World Health Organization (WHO) estimated around 200 – 250 Mn people in the world suffered from food allergies in 2015. The increasing prevalence of anaphylaxis is increasing demand for adrenaline, and epinephrine auto-injectors, in the global market. Furthermore, new formulations and new drug delivery systems, combined with innovation and developments in the biological drugs segments are expected to drive the growth of the global auto-injectors market during the forecast period of 2016-2024. Rising self-medication practices, growing demand for targeted drug delivery systems for treatments of chronic diseases, coupled with government reimbursements and marketing approvals for auto-injectors are some other factors that are fuelling the demand for auto-injectors in the global market. However, higher prices for injectors, lack of practices of self-injection in emerging countries, and presence of substitute products are certain factors that are restraining the growth of the global auto-injectors market.
Based on product type segmentation, the disposable auto-injectors dominated the global auto-injectors market in 2015 in terms of value, and it is expected to continue this dominance during the forecast period of 2016-2024. Factors such as rising patient awareness and inclination of patients towards self-administration, increasing demand for auto-injectors due to increasing prevalence of anaphylaxis, and other emergency conditions, combined with easy to use disposable auto-injectors, are some factors that are expected to drive the growth of disposable auto-injectors segment in the global auto-injectors market during the forecast period of 2016-2024. Based on applications, the anaphylaxis segment is expected to dominate the global auto-injectors market during the forecast period of 2016-2024.
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On the basis of regional presence, global auto-injectors market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead the global auto-injectors market in terms of revenue owing to the advanced healthcare infrastructure, advancements in medical devices technologies, higher demand for quality products, and availability of reimbursement policies. According to World Health Organization (WHO), an estimated 26 Mn people in U.S. suffered from allergies, and according to Healthline Networks, an estimated 400,000 people in the U.S., and 2.5 Mn people around the world suffered from multiple sclerosis in 2015 with over 400 new cases of multiple sclerosis identified each week in the U.S. Asia Pacific market is anticipated to grow at the fastest growth rate during the forecast period, owing to factors such as increasing anaphylaxis and food allergies in countries such as China, Japan, Singapore, Australia and India. According to Australian Society of Clinical Immunology and Allergy (ASCIA), Australia and New Zealand topped the list of countries with most prevalence of food allergies in 2015 followed by Japan, Singapore, and Thailand. Growing medical tourism and high growth of the medical devices industry in these countries, is expected to drive the growth of the global auto-injectors market during the forecast period of 2016-2024.
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