Auto Injectors Market Share to Witness Steady Rise in the Coming Decade
Added: (Tue Mar 05 2019)
Auto-injector devices are defined as the new injectable, with a user-centric design approach that automatically injects a needle and performs the surgical procedures in order to increase self-injectable devices and reduce 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 the revolutionary instruments which are invented to ensure complete dosage with painless drug delivery. Factors such as rising prevalence of anaphylaxis, rheumatoid arthritis and multiple sclerosis is anticipate to increasethe consumption of auto-injectors over the forecast period. Factors like growing advancement in the drug delivery technology, growing patient preferences for Auto-injectorsin emergency care and increasing number of key participantsmanufacturing generic versions are anticipated to enhance the growth of global Auto-injectorsmarket over the forecast period.
Sale of Auto-injectorsis relativelyhealthy in the U.S. market in the recent years, making North America the most lucrative region globally.North America Auto-injectorsmarketis estimated to value at US$ XX.XMn in 2016, with the U.S. accounting for majority of revenue share. By product, PrefilledAuto-injectorsaccounted for higher revenue share in global Auto-injectorsmarketas compared to other product segments..
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By Indication type, anaphylaxis indication type segment accounted for highest revenue share and is expected to reflect CAGR the forecast period. The growing preference for injectable drug delivery is expected to fuel the market for sterile drugs globally. Self-administration of drugs through usage of pre-filled syringes is one such instance where patients can save on large caregiver fees. There is an increased demand for large molecule drugs in pre-filled syringes as compared to small molecule drugs in pre-filled syringes.
By Distribution Channel, Online Pharmacies segmentaccount for higher demand for Auto-injectorsas compared to other end user segments such as Drug Stores, Hospital Pharmacies and Retail Pharmacies segment.PrefilledAuto-injectorscherishsupportable demand for Online Pharmacies owing to the fact that Epipen Auto Injector which is used in anaphylaxis is made mandatory at several public places along with the first aid.
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Moreover certain change in prices made by Mylan N.V. by launching a generic version of Epipen is expected to drastically affect the sales revenue of auto-injectors market in the near future. The prices are dropped down to nearly half of the initial prices that will affect the sales revenue but will eventually support to build a strong volume base for auto-injectors market.
Key players in the global Auto-injectors market include Becton, Dickinson and Company, Sanofi, Pfizer, Inc., Mylan N.V., Novartis AG, Bayer AG, Janssen Global Services, LLC, Antares Pharma, Inc., Amgen Inc. and Eli Lilly and Company and others. Major market players are implementing different strategies and are focusing on product development through research. Many players have are yet to launch the auto injectors in the market and are soon expected to launch
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Submitted by:Vikas Bahurupi