BANGALORE, India, Nov. 12, 2020
BANGALORE, India, Nov. 12, 2020 /PRNewswire/ -- A new Autoinjectors Market Research Report published on Valuates Reports in Medical Devices & Equipments Category. The report contains segmentation by Type (Disposable Autoinjectors and Reusable Autoinjectors), Application (Rheumatoid Arthritis, Anaphylaxis, Multiple Sclerosis, and Others), and End user (Homecare Settings and Hospitals & Clinics). It also covers Global Opportunity Analysis and Industry Forecast to 2027.
The Global Autoinjectors Market size was valued at USD 1,509.0 Million in 2019 and is expected to reach USD 5,732.6 Million by 2027, with a CAGR of 18.1% during the forecast period.
Major factors driving the autoinjector market size are the growing prevalence of targeted therapies, the increasing incidence of anaphylaxis, the increasing number of regulatory approvals, the availability of generic versions of autoinjectors, favorable reimbursements and government funding.
The study provides an in-depth analysis of the global autoinjectors market size along with the current trends and future estimations to elucidate the imminent investment pockets.
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TRENDS INFLUENCING THE AUTOINJECTORS MARKET SIZE
The favorable reimbursement environment and government support encouraging the use of autoinjectors drive the growth of autoinjector market size.
Autoinjectors offer many advantages, such as reducing needle-related phobias of anxiety, reducing the chances of needle-stick accidents, preserving dosage accuracy consistency, and improving effectiveness. Thus, the autoinjectors market size is expected to grow during the forecast period due to such advantages.
The patent expiry of biologics, novel formulations and revolutionary drug delivery methods, coupled with the discovery and improvement of bio-drugs, the rise in healthcare spending, the increase in anaphylaxis and the accessibility of generic autoinjector varieties also promote the growth of autoinjectors market size.
The injection site of a drug is selected on the nature of the drug but is typically administered intramuscularly. Autoinjectors are less painful than syringes, which in turn increase the growth of autoinjectors market size.
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AUTOINJECTORS MARKET SHARE ANALYSIS
Based on the Application, the anaphylaxis segment held the largest autoinjectors market share ( about 38.5% )during the forecast period.
Based on end-user, the home care settings segment held the largest autoinjectors market share, accounting for about 62.8% share in 2019.
Based on type, the disposable autoinjectors segment dominated the largest autoinjectors market share in 2019 and is expected to continue this trend throughout the forecast period. Key factors such as increased incidence of anaphylaxis and rheumatoid arthritis and increased patient demand for autoinjectors drive this segment's growth.
North America accounted for the largest autoinjectors market share. This is due to advances in medical equipment technology, modern healthcare facilities and high demand for quality goods.
Asia-Pacific is predicted to experience the highest growth rate during the projected period. Growing cases of anaphylaxis, rheumatoid arthritis, and other diseases such as anemia and migraine; and further technological advances by companies are expected to drive overall market growth.
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AUTOINJECTORS MARKET KEY SEGMENTATION
By End user
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