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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/auto-injectors-market
Auto-injectors
Market Report Highlights
- 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
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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