Owing to Increasing Geriatric Population, Demand for Auto-Injectors Highest in North America

Posted February 4, 2022 by PSMarketResearch12

The auto-injectors market is predicted to progress at an 18.6% CAGR during the forecast period (2017–2023).
The prevalence of diabetes across the globe has been increasing rapidly, due to the changing lifestyle of people. As per the World Health Organization, about 422 million adults were suffering from diabetes in 2014, and this number has increased significantly since then. Owing to busier lives, people are not engaging into physical activity and are increasingly consuming large amounts of unhealthy food. Ascribed to this, the demand for auto-injectors is increasing at a swift pace across the globe.

The surging prevalence of anaphylaxis and swiftly increasing geriatric population around the world is also resulting in the rising demand for auto-injectors. The medical devices are particularly helpful for aged people, since they the need for frequently visiting the hospital is eliminated. This further results in reduced healthcare cost. The pharmaceutical industry is focusing widely on developing auto-injector systems rather than traditional devices for administering drugs. Since these devices can be used with ease at home care settings, their demand is projected to rise significantly in the years to come.

When manufacturing design is taken into consideration, the market is bifurcated into customized and standardized auto-injectors, between which, the standardized auto-injectors bifurcation held the major share of the market in the past. These medical devices are made for easy assembly and perform the administration process without altering the primary packaging, utilizing automated pathways. This reduces the chance of dose errors and accidental injuries.

The auto-injectors market was dominated by North America in the past, according to a report by P&S Intelligence. The regional market is being led by the U.S. The surging geriatric population, increasing cases of anaphylaxis and diabetes, and rising production of biologics in the region are driving the demand for auto-injectors. The Asia-Pacific region is expected to register the fastest growth during the forecast period due to rising awareness regarding needle-stick injuries and increasing healthcare expenditure.

Hence, the demand for auto-injectors in growing due to the surging prevalence of diabetes and anaphylaxis across the globe.

Source: P&S Intelligence
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Last Updated February 4, 2022