According to the study, the global auto-injectors market is likely to grow significantly during the forecast period, due to increasing prevalence of anaphylaxis, increasing cases with multiple sclerosis, rising geriatric population and high production of biologics. Additionally, increasing healthcare spending and various beneficial features of auto-injectors also contribute to the growth of the overall market. However, high cost of auto-injectors and stringent regulatory requirements are some of the key factors restraining the growth of global auto-injectors market.
Insights on market segments
As per the findings of the research, the prefilled auto-injectors is the larger product category in the global auto-injectors market, primarily due to increasing availability of user friendly prefilled auto-injectors in disposable form. Based on manufacturing design, standardized auto-injector was the larger contributor to the global auto-injectors market in comparison to customized auto-injector in 2016. Anaphylaxis was the largest application for auto-injectors, followed by multiple sclerosis, rheumatoid arthritis and other diseases, in 2016. According to World Allergy Organization (WAO), the prevalence of anaphylaxis ranged from 2% of the population in the US, to 0.1% of the population in Korea, and 0.6% to 1% of the population in Australia.
North America stands as the largest auto-injectors market
Geographically, North America has been the largest market for auto-injectors, with the U.S. being the larger contributor to the regional market, compared to Canada. Increasing cases with diabetes and anaphylaxis, rising geriatric population, and increasing production of biologics are some of the factors that have been driving the growth of the North American auto-injectors market. North America is expected to contribute over 67.0% to the global auto-injectors market by 2023. The U.K. has been the largest contributor to the European auto-injectors market, followed by Germany and France. The auto-injectors market is expected to witness the fastest growth in Asia-Pacific during 2017 – 2023, owing to increasing cases of anaphylaxis, increasing awareness about needle-stick injuries, increasing healthcare expenditure, and growing geriatric population.
Key players in the market are collaborating to offer advanced auto-injectors
Key companies in the auto-injectors market is collaborating to offer advanced auto-injectors. In March 2017, Mylan N.V. entered in a global settlement and license agreement with Genentech Inc and Roche Holding AG in relation to patents for Herceptin (trastuzumab), which provides Mylan N.V. with global licenses for its trastuzumab product. This is expected to help Mylan N.V. to commercialize trastuzumab globally, except in Japan, Brazil and Mexico.
Some of the key players operating in the global auto-injectors market include Mylan N.V., Antares Pharma Inc., Becton, Dickinson & Co., Eli Lilly and Company, Pfizer, Inc., Bayer AG, Novartis International AG, Bristol-Myer Squibb, Novartis AG, Amgen Inc. and Biogen Inc.
News Courtesy: P&S Market Research