According to a new market research report ”Autoinjectors Market by Therapy (Rheumatoid Arthritis, Multiple Sclerosis, Anaphylaxis, Cardiovascular diseases, Psoriasis, Migraine), Type (Disposable, and Reusable), End Users (Homecare, and Hospitals) – Global Forecast to 2023”, published by MarketsandMarkets™, the global 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% during the forecast period (2018-2023).
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The key factors driving the growth of this market include the growing prevalence of targeted therapies such as rheumatoid arthritis and multiple sclerosis, rising incidence of anaphylaxis, and increasing number of regulatory approvals.
By therapy, the rheumatoid arthritis segment is expected to account for the largest share of the market in 2018
On the basis of therapy, the Autoinjectors Market is segmented into rheumatoid arthritis, multiple sclerosis, diabetes, anaphylaxis, and other therapies such as migraines, cardiovascular diseases, psoriasis, and anemia. In 2018, the rheumatoid arthritis segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to the high prevalence of rheumatoid arthritis across the globe.
By type, the disposable autoinjectors segment is expected to account for the largest share of the market in 2018
On the basis of type, the Autoinjectors Market is segmented into disposable and reusable autoinjectors. In 2018, the disposable autoinjectors segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to their ease of use and minimal risk of infection.
By end user, the home care settings segment is expected to account for the largest share of the market in 2018
On the basis of end user, the Autoinjectors Market is segmented into home care settings and hospitals & clinics. In 2018, home care settings segment is expected to account for the largest share of the global market. A majority of autoinjectors are used for self-administration of drugs and are rarely recommended for hospital use to avoid the risk of infection due to use on multiple patients. This is a major factor driving market growth. Other factors such as the growing prevalence of chronic diseases and technological advancements are also supporting growth in this market segment.
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North America to dominate the market in 2018
In 2018, North America is expected to account for the largest share of the Autoinjectors Market, followed by Europe. Factors such as increasing geriatric population in Canada, increasing FDA approvals, rising prevalence of anaphylaxis in the US, and rising prevalence of autoimmune and chronic diseases in the US and Canada are contributing to the large share of North America.
The key players in the global Autoinjectors Market are Abbvie (US), Amgen (US), Teva (Israel), Biogen (US), Eli Lilly (US), and Mylan (US). The other prominent players in the market are J&J (US), Novartis (Switzerland), Bayer (Germany), Merck (Germany), Biogen (US), Ypsomed (Switzerland), SHL Group (Taiwan) Becton, Dickinson and Company (US), Owen Mumford (UK), Novartis (Switzerland), and Haselmeier (Switzerland).
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PUNE, India, August 1, 2018 /PRNewswire/ —