Global auto-injectors market is expected to grow at a CAGR of 18.6% during 2017 - 2023.
The growing prevalence of anaphylaxis and surging aging population are two of the key factors responsible for the growth of the auto-injectors market. The market is predicted to advance at a CAGR of 18.6% during the forecast period (2017–2023).
An auto-injector is a medical device used for injecting a particular dose of drugs in patients. Most of the auto-injectors are spring-loaded syringes, designed for the safe dispensation of drugs with ease. Based on product, the auto-injectors market is bifurcated into prefilled and fillable injectors.
On the basis of therapeutic application, the auto-injectors market is categorized into anaphylaxis, rheumatoid arthritis (RA), multiple sclerosis (MS), and others. Out of these, during the 2013–2016 period, the anaphylaxis category dominated the market in terms of revenue, and it is predicted to continue dominating it during the 2017–2023 period. This is attributed to the surging incidence of anaphylaxis and growing awareness on auto-injectors for treating several allergies effectively. Anaphylaxis is a fatal and severe allergic condition that can present in any age or gender.
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As per the Asthma and Allergy Foundation of America (AAFA), a sudden allergic reaction that affects two or more organs, such as the lungs, skin, heart, and stomach, is termed as anaphylaxis. It has been observed that anaphylaxis is more common in the U.S. and found in one out of every 20 Americans. Two of the key causes of anaphylaxis include insects and consumption of foods and medicines the body is allergic to. In developing and developed nations, the incidence of food-related anaphylaxis is increasing, which, in turn, is resulting in the growth of the auto-injectors market.
Thus, it can be concluded that the increasing number of biologic drug therapies and surging prevalence of anaphylaxis are contributing to the growth of the market.
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