Autoinjectors are easy-to-handle and cost-effective medical devices that can be used by patients, caregivers, and even untrained personnel to deliver a dose of a particular drug. Autoinjectors are used by patients to manage autoimmune diseases and chronic diseases. They are used for a wide range of indications such as rheumatoid arthritis, multiple sclerosis, diabetes, and anaphylaxis.
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According to the 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 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% during the forecast period (2018-2023).
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.
Use of autoinjectors in the treatment of rheumatoid arthritis drives the global autoinjectors market
Rheumatoid arthritis (RA) is a chronic, systemic, inflammatory autoimmune disease that affects connective tissues. It causes joints to swell and can result in pain, stiffness, and progressive loss of function. According to the CDC, an estimated 43.7 million adults (22.7% of the total population) in the US annually are affected by some form of arthritis, RA, gout, lupus, or fibromyalgia.
What Drives the Market?
1. Growing prevalence of targeted therapies
2. Rising incidence of anaphylaxis
3. Increasing number of regulatory approvals
4. Availability of generic versions of autoinjectors
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Geographical Growth Analysis:
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.
Further, this report also highlights smart strategy adopted by major players and also their market share.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Autoinjectors Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/autoinjectors-market/download-sampleMarket DynamicsThe widespread increase in self-administration of drug therapies among the global population will be the key driving force behind this market's growth.
This market's main attractive segment is the growing trend to treat rheumatoid arthritis, multiple sclerosis, and diabetic patients using injectable self-administration.
The various advantages of an autoinjector can save considerable time and money for the pharmaceutical and biopharmaceutical industries.
The challenges faced by this market are related to the materials used for the manufacture of springs and other precision metal components used in an autoinjector.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
