World News: 15:45 GMT Monday 14th January 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Jan. 14, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global autoinjectors market is estimated to witness a CAGR of 17.1% during the forecast period 2018-2024. The autoinjectors market is analyzed based on three segments - products, applications, and regions.
The medical devices that are primarily used for the self-injection of drugs, classically life-saving drugs, are known as autoinjectors. These devices are gaining increased importance for the management of anaphylaxis, diabetes, rheumatoid arthritis, multiple sclerosis, and others. Autoinjectors are relaxed to use and proposed for self-administration by individuals either at caretakers premises or at home.Raising prevalence of serious medical conditions such as anaphylaxis & other food allergies, advancements in the autoinjectors technology, increasing demand for home healthcare, and the rising need for self-injectors are the factors aiding the growth of the autoinjectors market. Novel formulations of drugs and advancements in drug delivery systems along with favorable government regulations are providing an opportunity for the market growth. However, recent product recalls by the companies and the availability of substitutes for autoinjectors are hampering the market growth. North America accounts for the largest share of the autoinjectors market, followed by Europe, Asia Pacific, and Rest of the World. More than 65% of the market is occupied by North America, with the US being the major contributor to the market growth. Based on the products, the market is segmented into disposable autoinjectors and reusable autoinjectors. Disposable autoinjectors hold dominant market share and is also the fastest growing segment in the market. Based on the application areas, the market is segmented into anaphylaxis, multiple sclerosis, rheumatoid arthritis, diabetes, and others. The market is dominated by anaphylaxis owing to a high prevalence rate globally. The fastest growing segment of the market is rheumatoid arthritis due to increased development of novel drugs for the treatment of the condition. The major players in the market are Mylan NV, Novartis AG, Amgen, Inc., Becton Dickinson and Company, Bayer AG, and Eli Lilly & Company Ltd. The other key players in the market include Ypsomed Holding AG, Biogen Pharmaceuticals, Pfizer Inc., Teva Pharmaceutical, Antares Pharma, Inc., Johnson and Johnson, and AbbVie, Inc. The key manufacturers of autoinjectors are concentrating on innovative marketing tactics to expand the reach of their products globally. Increasing awareness campaigns and price reduction of branded devices are among the strategies used by the leading companies to manage intense competition in the market.
Many companies are rebranding their autoinjectors with worthwhile reductions in the price. In December 2016, Mylan launched the generic version of EpiPen to provide autoinjector for customers at lesser prices. This approach ought to help the company in targeting a larger customer pool, thus increasing the company's customer base in recent years.
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Related Topics: Infusions and Injectables , Needles and Syringes
Globe Newswire: 15:45 GMT Monday 14th January 2019
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