Autoinjectors Market to Reach Worth USD 2.7 Bn by 2022
According to the latest report published by Credence Research, Inc. “Global Autoinjectors Market(Manual Injection Autoinjectors, Automated Injection Autoinjectors, Reusable Autoinjectors, Disposable Autoinjectors, Variable Dose Autoinjectors & Smart Autoinjectors; & Therapeutic Areas) – Growth, Future Prospects and Competitive Assessment, 2016 – 2022,” the autoinjectors market was valued at USD 869.0 Mn in 2015, and is expected to reach USD 2,740.7 Mn by 2022, expanding at a CAGR of 18% from 2016 to 2022.
Browse the full report Global Autoinjectors Market – Growth, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 at https://www.credenceresearch.com/report/autoinjectors-market
The global autoinjectors market is anticipated to undergo swift progress during the forecast period. This market is characterized by rapid technological developments, growing count of severe allergy patients and growing awareness about self-administered prefilled injections. The demand for disposable autoinjectors will grow significantly during the forecast period.
Due to corresponding demands from drug administration industry, the biopharmaceutical companies worldwide have introduced several solutions for injectable drug delivery and are perpetually pushing for improvements in design and mechanism. It is expected that a significant part of new treatment introductions in the market will comprise of injectables, out of which autoinjectors is the fastest emerging drug delivery solutions, since these products deliver better patient experience and treatment adherence through safe self-administration at home. Apart from the offered patient benefits, reduction in the number of hospital visits can ultimately assist in reducing cost of healthcare and contain the burden on healthcare personnel. New ergonomic designs and mechanisms introduced in autoinjectors have also helped to efficiently address patient dexterity issues and minimize the risk of needle-stick injuries.
Autoinjectors are being increasingly considered by biopharmaceutical companies as an appropriate solution to commercialize their therapeutic solutions. However for successful commercialization and implementation of related strategies, the companies require detailed planning, thorough knowledge of drug-device combination mechanism, regulatory requirements and synergy with device manufacturers. Acting against this, biopharmaceutical companies and device manufacturers have varied product lifecycles and thus product development process may lead to gaps that might be crucial for the overall project and affect commercialization and profitability. It is hence crucial for biopharmaceutical companies to have in-depth understanding of every intermediate stage, the stage of entry of device manufacturer, meeting regulatory mandates and other such processes.
This market is intensely competitive, yet a handful of players take over significant market shares. Upcoming introductions of several autoinjector products in 2018 and future will bring significant movements in the overall autoinjectors market. Some of the key players operating in development, manufacture and sale of autoinjectors in the international markets are Biogen Idec, Inc., Becton, Dickinson and Company, Antares Pharma, Inc., Mylan, Inc., Novartis International AG, Unilife Corporation, Pfizer, Inc., Scandinavian Health Ltd., Ypsomed Holding AG, Sanofi S. A., Bayer AG, Emergent BioSolutions and others.
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