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(ARABNEWSWIRE.COM, April 11, 2018 ) Overview
The Auto injectors may be a medical device accustomed to dispensing a dose of a significantly, life-saving drug. These auto injectors are sometimes elastic device syringes that are significantly designed for simple and safe administration of the medicine. The injectable drug delivery technique may be a technology-driven market and has undergone a paradigm shift. The historically used self-injection devices that were simply used for delivering human growth hormones and endocrine are presently replaced by technologically advanced auto injectors.
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The global Auto injectors Market is estimated to have a value of USD 1.99 billion in 2017. With a CAGR of 16.85%, the market size is expected to grow rapidly to cross USD 4.34 billion by 2022. Technology advancement and innovation within the drug delivery systems, growing adoption of auto-injectors, rising prevalence of hypersensitivity reaction incidences, diabetes, and cancer are the factors fueling the market.
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Drivers and Restraints
Increasing prevalence and incidences of hypersensitivity reaction and food allergies around the world is majorly answerable for the expansion of the worldwide auto-injectors market. As per North America Academy of allergic reaction respiratory disease and medical specialty, around fifteen million individuals within the U.S. suffered from food allergies in 2015, whereas seventeen million individuals in Europe, out of which 3.5 million youngsters suffered from food allergies in 2015 as per the European Academy of allergic reaction and Clinical medical specialty (EAACI).
World Health Organization (WHO) calculated around 200 – 250 million individuals within the world suffered from food allergies in 2015. The increasing prevalence of hypersensitivity reaction is increasing demand for endocrine, and internal secretion auto-injectors, within the international market. Moreover, new formulations and new drug delivery systems, combined with innovation and developments within the biological medicine segments are expected to drive the expansion of the worldwide auto-injectors market throughout the forecast amount
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North America is predicted to guide the worldwide auto-injectors market in terms of revenue owing to the advanced care infrastructure, advancements in medical devices technologies, higher demand for quality merchandise, and convenience of compensation policies.
The major market contributors for the global Auto injectors Market are Mylan N.V., Pfizer, Inc., Bayer AG, Becton, Dickinson and Company, Novartis AG, Biogen Idec, Inc., Janssen Global Services, LLC, Sanofi, Unilife Corporation and Eli Lilly and Company.
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