Albany, NY, March 30, 2016 (GLOBE NEWSWIRE) -- Driven by the rising incidence of conditions such as anaphylaxis in developed countries and the creation of a favorable reimbursement scenario by governments across the world, the global auto injectors market is poised to log a CAGR of 18.6% from 2014 to 2020. These findings are published in Transparency Market Research’s study, titled ‘Auto-Injectors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’.
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The study states that the global auto-injectors market will rise from its 2013 valuation of US$665.0 mn to rise to US$2.5 bn by 2020, with enormous opportunities existing in RoW markets and emerging economies. An alarming increase in the prevalence of rheumatoid arthritis and various food allergies will further create opportunities for the growth of the auto injectors market globally. TMR analysts identify a major roadblock standing in the way of companies trying to occupy a larger revenue share in the auto-injectors market: The high prices of auto-injectors. The price factor assumes greater importance when it comes to patients in emerging economies, where, incidentally, the most lucrative growth opportunities lie.
Even so, the demand for auto injectors will continue to rise consistently as patients opt to choose these products for their ease of use, even during self-administration. The report segments the global auto injectors market on the basis of product type, manufacturing design, therapeutic application, and geography. On the basis of product type, the market is segmented into prefilled or disposable auto injectors and fillable or reusable auto injectors. Given their unmatched ease of use, pre-filled auto injectors made up the largest segment in the auto injectors market by product type.
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Likewise, using manufacturing design as a criterion, the global auto-injectors market has been segmented into customized and standardized auto injectors. Although the standardized injectors segment was the larger one in 2013, the growth of the customized auto-injectors segment will be the fastest through the report’s forecast period.Moving further, the report segments the auto-injectors market by therapeutic application into anaphylaxis, rheumatoid arthritis, multiple sclerosis, and others. The high prevalence of anaphylaxis has created a massive demand for auto injectors for administrating drugs to people suffering from this condition. This factor has made the anaphylaxis the largest application segment in the auto injectors market.
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From the geographical standpoint, the market for auto injectors is segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW). Claiming a 70% stake in the global auto-injectors market, North America was seen to be the largest regional market in 2013. While the dominant position of North America will not see a drastic change, the Asia Pacific market will report the fastest rate of growth. The key recommendations of TMR’s analysts, discussed in detail in the report, include: Channeling investments into China and India, spearheading innovation in auto injectors, and improving consumer awareness through marketing campaigns.
Companies profiled in detail in the auto-injectors market report include: Pfizer, Inc., Becton, Dickinson & Co., Mylan, Inc., Antares Pharma Inc., Novartis International AG, Unilife Corp., Ypsomed Holding AG, Biogen Idec, and Scandinavian Health Ltd.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research