Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to a recent study released by Transparency Market Research (TMR), the global auto-injectors market, which stood at US$665.0 million in 2013, is expected to expand at a CAGR of 18.6% over the period from 2014 to 2020, reaching a value of US$2,503.4 million by 2020.The report, titled "Auto-Injectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020", notes the initiatives taken by government entities and market players to raise awareness about the advantages of auto-injectors and favorable reimbursement policies as the key growth drivers encouraging customers to opt for these injectors, fueling market growth.
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On the other hand, the high prices associated with auto-injectors are restricting patients in developing economies from purchasing them, limiting the overall development of the global auto-injectors market, reports the study.The report analyzes the global auto-injectors market on the basis of products, applications, manufacturing designs, and regional distribution.Based on products, prefilled auto-injectors led the global auto-injectors market on account of their ease of usage and increasing patient awareness regarding these devices, while by application, the anaphylaxis market segment dominated the global market owing to the high prevalence of anaphylaxis. The market is expected to register the fastest growth among application segments of the auto-injectors market during the forecast period.
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On the basis of manufacturing design, the standardized auto-injectors market segment led the global market in 2013. However, the customized auto-injectors market is projected to report the fastest growth over the forecast period, states the report.On regional basis, the auto injectors market in North America ranked first among all the regional markets, accounting for 70% of the overall industry in 2013. High incidence of multiple sclerosis and anaphylaxis, coupled with favorable reimbursement policies, has fueled the auto-injectors market in the region. However, analysts at TMR expect the market in Asia Pacific to register the fastest growth during the forecast period.Apart from this, the report identifies the increasing prevalence of rheumatoid arthritis and food allergies in developing economies as potential growth drivers of the auto-injectors markets in Asia Pacific and the Rest of the World.
The global auto-injectors market is concentrated in nature. The major companies profiled in this report are Antares Pharma Inc., Biogen Idec, Becton, Dickinson & Co., Mylan, Inc., Pfizer, Inc., Novartis International AG, Sanofi, Unilife Corp., Scandinavian Health Ltd., and Ypsomed Holding AG.On account of the massive demand for Auvi-Q and EpiPen auto-injectors, Sanofi and Mylan Inc. lead the standardized auto-injectors segment of the global market, whereas the customized auto-injectors segment is led by the SHL Group, which offers a wide range of pre-filled customized auto-injectors.
Innovation is the key driver of the global auto-injectors market, according to the publication. Auto-injector manufacturers continuously work upon developing new and effective auto-injectors for the treatment of various diseases in order to gain a competitive edge over peers.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research