Owing to the Extreme Convenience of Administrating Insulin, Multiple Sclerosis Prefilled Auto Injectors are Gaining Popularity
The arrival of an array of cutting-edge biotech products coupled with the increasing preference for convenient injection of various therapeutic drugs is making a positive impact on the global market for prefilled auto-injectors. According to the recent study conducted by Fact.MR, the global demand for prefilled auto injectors is set to ride at a double-digit CAGR during 2017 to 2022, to reach a valuation in excess of US$ 3,616 Mn.
Demand for such injectors is anticipated to further escalate over the next couple of years. Self-inject procedures have become safer and convenient due to availability of advanced prefilled auto-injectors. Patient are increasingly putting their trust on prefilled auto-injector owing to the product’s efficiency and credibility. Moreover, ongoing advancements in technology is leading towards constant improvement in prefilled auto-injector functionalities and capabilities.
In order to expand their application in new therapeutic areas, most device manufacturers are now emphasizing on further development of prefilled auto-injectors. The next prefilled auto-injectors are more accurate and reliable. Such leading-edge instruments are becoming widespread due to their functional superiority on conventional needles and syringes that can cause injuries.
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Forecast Highlights on the Global Market for Prefilled Auto-Injectors
North America is projected to retain its predominant position in the global market for prefilled auto-injectors over 2022. In addition, the region’s prefilled auto-injectors market is anticipated to register an impressive CAGR during the projection period. This growth is mainly attributed to the expanding pool of patients who require drug administration on daily basis in the region.
Factors such as low cost of prefilled auto-injectors and quick expansion of the healthcare industry are influencing Asia-Pacific excluding Japan (APEJ)’s prefilled auto injection market. The market in APEJ is expected to surge at little under 16% CAGR between 2017 and 2022. Currently, Europe accounts for over 10% share of the market in terms of revenue and is expected to exhibit lucrative opportunities for market players in the near future.
On the basis of indication, use of prefilled auto-injection is significantly high for treating anaphylaxis indication. Towards the end of the forecast period, nearly US$ 3,200 Mn worth prefilled auto-injectors is estimated to be used for treating anaphylaxis.
Online pharmacies are the largest distribution channel for prefilled auto injectors. In terms of revenue, online pharmacies currently account for around 33% share of the market. By the end of 2022, the online pharmacies distribution channel segment is estimated to reach a valuation of nearly US$ 1,500 Mn, reflecting a healthy CAGR.
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In order to offer readers with up-to-date information about the latest advancements in the global prefilled auto-injectors market, the report provides updates about market opportunities, which can benefit leading manufacturers of prefilled auto-injectors. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for prefilled auto-injector manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
The Fact.MR report provides segment-wise analysis and forecast for covering the wide scope of global prefilled auto-injectors market. Indication, distribution channel and region are key segments that define the growth of the global market for prefilled auto-injectors. In this segmentation analysis, a detailed country-wise forecast across all key market parameters is also included.
The report’s last section comprises of the global prefilled auto-injectors market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global prefilled auto-injectors market.
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- Eli Lilly and Company
- Dickinson and Company
- Mylan N.V.
- Amgen Inc.
- Pfizer Inc.
- Antares Pharma, Inc.
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