Pune, India -- (SBWire) -- 12/27/2017 --An auto injector is a type of medical device which is used for injecting oneself with single, preloaded dose of a drug. The medical device typically consists of a spring-loaded syringe activated when the device is pushed firmly against the body. Auto-injectors are commonly used by people with allergies. These allergic reactions can be mild and can become life-threatening reaction. Auto-injectors are used for treatment of anaphylaxis, multiple sclerosis, rheumatoid arthritis and others.
Global Auto-Injectors Market is expected to reach USD 2.4 billion by the end of the forecasted period and is expected to grow at a CAGR of ~17.2%.
Auto-injectors are intended for self-administration or for the administration by any personnel at home. The site of injection of the drug depends on the nature of the drug but usually taken through intramuscular route. The syringe needle is inserted at the site of injection with the push of a button and the drug gets delivered. Auto-injectors are basically designed to overcome the reluctance associated with self-administration of intramuscular injections.
The market is expected to grow with the same trends during the forecast period. The major drivers supporting the growth of the market will be increasing prevalence and incidences of anaphylaxis and food allergies around the world. According to American Academy of Allergy Asthma and Immunology, in U.S. 15 million people are suffered from food allergies in 2015, while 17 million people in Europe. Moreover, rising self-administration practices, growing demand for targeted drug delivery systems for treatment of chronic conditions coupled with improved drug delivery and new formulations will be vital to pharmaceutical companies are some other factors supporting the demand for auto-injectors in the global market. However, higher prices for injectors, and presence of substitute products are some of the factors hampering the growth of the global auto-injectors market.
The Global Auto Injector Market is growing at a very dynamic pace. The global auto-injector market is expected to grow with CAGR of ~17.2% during the forecast period. According to a recent study report published by the Market Research Future, The global auto injector market is booming and expected to gain prominence over the forecast period growing rapidly. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
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Global Auto Injector Market - Competitive Analysis
Becton, Dickinson and Company (U.S.), Sanofi (France), Pfizer Inc. (U.S.), Mylan N.V. (U.S.), Novartis (Switzerland), Bayer AG (Germany), Janssen Global Services, LLC (U.S.), Antares Pharma, Inc. (U.S.), Amgen Inc. (U.S.) and Eli Lilly and Company (U.S.), UNILIFE CORPORATION (U.S.), Scandinavian Health Ltd (Taoyuan), Owen Mumford Ltd. (UK), kaleo, Inc., Amedra Pharmaceuticals LLC (U.S.) and others are some of the prominent players at the forefront of competition in the Global Auto Injector Market and are profiled in MRFR Analysis.
Auto injectors are made of glass syringes which makes them fragile and they can cause contamination. Currently, numerous players in market are striving to create auto injectors syringes out of plastic to prevent preventable impurity. These key competitors are significantly intricate in geographical expansions and product innovation for strengthening their presence in the market. Like, Mylan N.V. is a leader in the global auto-injectors market in terms of revenue share. Mylan holds a very large market share in the global auto-injectors market due to their blockbuster product "Epipen" which is the most widely sold auto-injector and has a tremendous contribution to the global auto-injectors market.
Moreover, in March 2017, Mylan N.V. has entered into a global settlement and license agreement with Genentech Inc. and Roche Holding AG in relation to patents for Herceptin. This licenses for its trastuzumab product will help Mylan N.V. to commercialize trastuzumab globally, except in Japan, Brazil and Mexico.
On the other hand, Becton, Dickinson and Company which is one of the leading manufacturers of refillable auto-injectors is focussing on manufacturing Physioject that is compatible with several injectable drugs.
Furthermore, in May 2013, Biogen Idec, Inc. received the FDA for its new drug Plegridy used in the treatment of multiple sclerosis. They have enhanced the drug by adding polymer named PEG (polyethylene glycol) that increases the drug exposure in patients and lowers the frequency of drugs administration as well. Therefore, the growing key developments are some major contirbtors for the growth of the auto injector market.
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