Auto-Injectors Market Registering At A CAGR Of 19.5% From 2019 To 2026

Posted by Neha Bora on March 20th, 2020

The Report Auto-Injectors Market Size, Share, & Trends Analysis By Product Type (Disposable, Reusable), By Disease Indication (Rheumatoid Arthritis, Multiple Sclerosis, Diabetes, Anaphylaxis), By End Use (Homecare Settings, Hospitals & Clinics), And Segment Forecasts, 2019 – 2026

The global auto-injectors market size is expected to reach USD 3.18 billion by 2026, according to a new report by Grand View Research, Inc, exhibiting a CAGR of 19.5%. Rising incidence of anaphylactic shock and other diseases such as diabetes, rheumatoid, & multiple sclerosis along with increasing approvals of auto-injectors are impelling growth.

Increasing prevalence of life-threatening allergies and rising demand for these devices are expected to aid growth. As per the Food Allergy Research & Education, around 200, 000 people every year need emergency medical care for allergic food reactions.

In addition, increasing approvals are anticipated to drive growth. For instance, in August 2018, U.S. FDA approved the first generic epinephrine auto-injector of Teva Pharmaceuticals to treat emergency allergic reactions, including anaphylaxis. Generic versions of EpiPen Jr & EpiPen of 0.15 mg & 0.3 mg, respectively, are indicated for pediatric and adult patients weighing more than 33 pounds.

Moreover, manufacturers are also developing new products and innovative technologies, which is expected to propel market growth. For instance, in June 2018, AbbVie GK launched Humira, which is a fully human antitumor necrosis factor alpha monoclonal antibody formulation with lock function & injection start & end alerts as well as an inspection window and injects completely in 10 seconds. Demand for these devices is increasing as they are designed in accordance with patient acceptance and compliance. Technological advancements are anticipated to make them more convenient and user-friendly. This is encouraging patients to adopt this technology for chronic illnesses.

Further key findings from the report suggest:

• Disposable auto-injectors emerged as the largest segment owing to convenience and ease of use
• Homecare settings accounted for largest share in end-use segment owing to increasing demand of products for daily administration of insulin
• North America dominated the auto-injectors market with largest share in 2018. Increasing demand for new technologies along with advanced healthcare infrastructure is expected to boost market growth during the forecast period
• Asia Pacific is expected to witness fastest growth during the forecast period owing to increasing number of diabetic patients
• Some of the key players are Eli Lilly; Scandinavian Health Ltd.; AbbVie, Inc.; Amgen; Owen Mumford; Ypsomed; Teva Pharmaceutical; Biogen Idec; Mylan N.V.; Pfizer, Inc.; and Sanofi

Access Research Report of Auto-Injectors Market @ https://www.grandviewresearch.com/industry-analysis/auto-injectors-market