(PharmaNewsWire.Com, March 07, 2018 ) The Latin America Autoinjectors Market was worth USD 0.24 billion in 2017 and estimated to be growing at a CAGR of 16%, to reach USD 0.5 billion by 2022. Autoinjectors are the medical devices used to deliver a fixed dose of particular drug to patients. Most of these autoinjectors are pre-filled spring-loaded syringes, which consists of a hypodermic needle and a push button in order to deliver the dose. They are relatively very easy to use and designed for safe administration of the drugs. It is technically advanced and overcome any risks associated with the conventional syringes and traditionally used self-injection devices.
There are many varieties of autoinjectors available in the market which would meet the requirement of patients in the therapeutic areas. They are mainly intended for the self-medication of the patients at home and also reduce needle phobia. Autoinjectors are mainly used in the treatment of the anaphylaxis, rheumatoid arthritis, multiple sclerosis, and others. The Auto injectors market is showcasing a substantial CAGR during the forecast period with the rising prevalence of anaphylaxis attack.
The major factors driving for the Latin America Autoinjectors Market are technology advancement and innovation in the drug delivery systems, growing adoption of auto-injectors, rising prevalence of anaphylaxis incidences, diabetes and cancer, simplifying self-medication and improving patient compliance, many advantages like safety, comfort and the accuracy, favourable government policies and high investments by the private companies. However, high price, lack of patient awareness towards self-medication, injuries associated with auto injectors and stringent regulations are hindering the market growth.
The Latin America Autoinjectors market is segmented on the basis of product, usability, manufacturing design, technology, application and end-user. On the basis of product type, the market is segmented into fillable autoinjectors and prefilled autoinjectors. Based on the usability, the market is segmented into disposable autoinjectors and reusable autoinjectors. Depending on the Manufacturing Design, the market is categorised into standardized autoinjectors and customized autoinjectors. On the basis of technology, the market is segmented into automated autoinjectors and manual autoinjectors. Based on the application, the market is segmented into anaphylaxis, multiple sclerosis and rheumatoid arthritis. On the basis of Distribution Channels, the market is segmented into hospitals, retail, online pharmacies and others. Anaphylaxis segment is the largest segment in terms of revenue while Prefilled auto-injectors segment in product type is anticipated to have the highest growth rate. Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in the market.
Major autoinjector manufacturing companies dominating the market are Mylan N.V., Pfizer, Inc., Bayer AG, Becton, Dickinson and Company, Novartis AG, Biogen Idec, Inc., Janssen North America Services, LLC, Sanofi, Unilife Corporation and Eli Lilly and Company.
6) Distribution Channels Introduction Hospitals Retail Online Pharmacies
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