(Health-NewsWire.Net, June 06, 2020 ) Autoinjectors are used to self-administer drugs for the treatment of various diseases and conditions, such as rheumatoid arthritis, multiple sclerosis, diabetes, and anaphylaxis. Autoinjectors are easy to use, portable, and improve dosing accuracy, making them one of the most popular methods for the self-administration of drugs.
What the Market Looks Like?
The autoinjectors market is projected to reach USD 85.31 billion by 2023 from an estimated USD 28.91 billion in 2018, at a CAGR of 24.2%. The large share of the North American autoinjectors market can primarily be attributed to the rising prevalence of autoimmune and chronic diseases, increasing prevalence of anaphylaxis, and the increasing number of FDA approvals in the region.
Disposable autoinjectors are the most-preferred autoinjectors due to their ease of use and the presence of a built-in glass syringe (eliminates the need for manually loading the glass syringe), which makes it more convenient for patients with reduced dexterity or visual impairments.
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What Drives the Market?
The growth of the global market for Autoinjectors Market is primarily influenced by the following factors:
1 Growing Prevalence of Targeted Therapies
2 Rising Incidence of Anaphylaxis
3 Increasing Number of Regulatory Approvals
4 Availability of Generic Versions of Autoinjectors
5 Favorable Reimbursements and Government Support
6 Technological Advancements and Design Development
Growth in the global autoinjectors market is mainly driven by factors such as the growing prevalence of targeted therapies, the rising incidence of anaphylaxis, the increasing number of regulatory approvals, the availability of generic versions of autoinjectors, favorable reimbursements and government support, and technological advancements in autoinjector devices.
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North America to witness the highest market growth during the forecast period
he large share of the North American autoinjectors market can primarily be attributed to the rising prevalence of autoimmune and chronic diseases, increasing prevalence of anaphylaxis, and the increasing number of FDA approvals in the region.
Key Market Players
SHL Group, Becton Dickinson and Company, Ypsomed, Owen Mumford, Haselmeier
Mr. Aashish Mehra