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. 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. Patients with needle phobia are also rapidly shifting towards prefilled auto-injectors, as these instruments typically have a centric design that helps the patients to overcome the unwillingness associated with self-inject procedures. The aforementioned factors are projected to propel the sales of prefilled auto-injectors globally. According to the recent study conducted by Fact.MR, the global prefilled auto injectors market is set to ride at a double-digit CAGR during 2017 to 2022, to reach a valuation in excess of US$ 3,616 Mn.
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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.
North America Will Continue to Spearhead the Global Prefilled Auto-Injectors Market
In terms of revenue, North America is expected to dominate the global prefilled auto-injectors market over 2022. This is primarily owing to the rising number of patients who require drug administration on regular basis.
Owing to the extreme convenience of administrating insulin, prefilled auto injectors are also gaining popularity among patients suffering from diabetes in the region.
The prefilled auto injectors market in North America in expected to witness a strong growth over the forecast period.
Meanwhile, robust development of the healthcare sector coupled with low cost of prefilled auto-injectors is proving to be instrumental for the growth of the market in Asia-Pacific excluding Japan (APEJ). Between 2017 and 2022, the region’s market is projected to increase at an impressive CAGR of 15.9%.
Based on indication, the anaphylaxis segment currently accounts for more than two-third revenue share of the market.
The segment is estimated to reach a market valuation of over US$ 3,187 Mn towards the end of 2022, reflecting a strong CAGR. In addition, the segment is expected to growing at around US$ 320 Mn annually over the course of the assessment period.
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Competition Tracking
Fact.MR’s report also profiled companies that are expected to remain active in the expansion of global prefilled auto injectors market through 2022, which include
- Becton
- Dickinson and Company
- Pfizer Inc.
- Mylan N.V.
- Antares Pharma Inc.
- Amgen Inc.
- Eli Lilly
Market Taxonomy
Indication
- Anaphylaxis
- Multiple Sclerosis
- Rheumatoid Arthritis
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
Summary
The report commences with a brief information of the global prefilled auto-injectors market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global prefilled auto-injectors market.
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