Auto-Injectors Market to Witness 18.6% CAGR by 202
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NEW YORK, June 30, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Auto-Injectors Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insight by Product (Prefilled, Fillable), by Manufacturing Design (Standardized, Customized), by Therapeutic Application (Anaphylaxis, Multiple Sclerosis, Rheumatoid Arthritis, Others)” published by P&S Market Research, the global auto-injectors market is expected to grow at a CAGR of 18.6% during 2017 - 2023.
As per the findings of the research, the prefilled auto-injectors is the larger product category in the global auto-injectors market, primarily due to increasing availability of user friendly prefilled auto-injectors in disposable form. Based on manufacturing design, standardized auto-injector was the larger contributor to the global auto-injectors market in comparison to customized auto-injector in 2016.
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Geographically, North America has been the largest market for auto-injectors, with the U.S. being the larger contributor to the regional market, compared to Canada. Increasing cases with diabetes and anaphylaxis, rising geriatric population, and increasing production of biologics are some of the factors that have been driving the growth of the North American auto-injectors market. North America is expected to contribute over 67.0% to the global auto-injectors market by 2023. The U.K. has been the largest contributor to the European auto-injectors market, followed by Germany and France.
Globally, the pharmaceutical industry is observing a shift from administration of injections in clinician settings to home care setting. The medical device manufacturers are also shifting their focus towards the development of user friendly and patient compliant devices. The point-of-care medication administration is increasing due to improving medical services at the bed side. The auto-injectors have emerged as an impact of this change in the medical industry. Auto-injectors meet the demand of physicians and patients for easy and effective drug administration methods. They also help to reduce medication error and increase safety and convenience. The popularity of auto-injector devices is increasing due to reduced treatment cost and facilitating patients in self-administering their medication, thus leading to the growth of the global auto-injectors market.
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Key companies in the auto-injectors market are collaborating to offer advanced auto-injectors. In March 2017, Mylan N.V. entered in a global settlement and license agreement with Genentech Inc and Roche Holding AG in relation to patents for Herceptin (trastuzumab), which provides Mylan N.V. with global licenses for its trastuzumab product. This is expected to help Mylan N.V. to commercialize trastuzumab globally, except in Japan, Brazil and Mexico.
Some of the key players operating in the global auto-injectors market include Mylan N.V., Antares Pharma Inc., Becton, Dickinson & Co., Eli Lilly and Company, Pfizer, Inc., Bayer AG, Novartis International AG, Bristol-Myer Squibb, Novartis AG, Amgen Inc. and Biogen Inc.
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