Auto-Injectors Market Global Industry Analysis, Demand, Share, and Growth Opportunity

Rising prevalence of anaphylaxis and increasing healthcare spending are some of the key drivers for the global market growth. Additionally, emerging biologic drug therapies, minimized needle-stick injuries and growing aging population also support the growth of the global market.

In terms of therapeutic application, the auto-injectors market is segmented into anaphylaxis, multiple sclerosis, rheumatoid arthritis and others. The other applications include migraine, psoriasis and diabetes. Among the therapeutic application, the anaphylaxis segmented contributed to almost 88% of the overall market for auto-injectors in 2016. Some of the major factors driving the growth of this application include, increasing prevalence of anaphylaxis globally and rising awareness about the auto-injectors for treating various allergies effectively.

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Healthcare spending by patients is concurrently increasing globally, due to the rising prevalence of chronic diseases, continuous rise of aging population and increasing healthcare expenditure by the government. Increasing prevalence of some of the chronic diseases such as diabetes, heart diseases and mental illness has led to an increase in the overall healthcare spending in developed and emerging economies. In developed countries, the disposable income is high leading to added affordability on the patient’s end who can spend on advanced healthcare facilities.

The increasing prevalence of these various chronic diseases has led to rising government and non-government initiatives which in turn has led to increased healthcare spending globally. Rise in affordability and accessibility of advanced healthcare solutions has further led to high healthcare spending. According to the World Health Organization (WHO), the total healthcare expenditure has increased globally, leading to high healthcare infrastructure and increased use of advanced healthcare devices such as pens, auto-injectors, wearable injectors for self-medication by patients suffering from anaphylaxis, diabetes, multiple sclerosis, migraine and rheumatoid arthritis. The demand for self-injection devices has been increasing with the increasing prevalence of such diseases which require daily or weekly doses and hence, supporting the growth of the global auto-injectors market.

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The auto-injectors market in Europe is expected to reach $537.2 million by 2023, growing at a CAGR of 17.4% between 2017-2023. The auto-injectors industry in Europe is witnessing growth mainly due to increasing prevalence of diseases such as anaphylaxis, multiple sclerosis, diabetes and rising geriatric population. According to European Academy of Allergy and Clinical Immunology, more than 150 million Europeans suffered from chronic allergy diseases in 2016. Among the various countries in the European region, the U.K. held the largest share of the European market for auto-injectors with 29.1% share in 2016.

Some of the key players operating in the auto-injectors market include Mylan N.V., Antares Pharma Inc., Becton, Dickinson & Co., Eli Lilly and Company, Pfizer, Inc., Bayer AG, Novartis International AG, Bristol-Myer Squibb, Novartis AG, Amgen Inc. and Biogen Inc.

Aortic Valve Market by Growth Opportunities, and Industry Insights

The market is mainly driven by increasing prevalence of valvular diseases, increasing demand for minimally invasive surgeries (MISs), rise in number of clinical trials for heart valves, and introduction of advanced implants.

The different types of valves available in the aortic valve market are transcatheter valves, sutureless valves and others. Among these, transcatheter valves attained the largest share of 58.8% in the market, in 2017. This leading position of the category is attributed to increasing initiatives for research activities for developing transcatheter valves and increasing number of clinical trials to study transcatheter valves. For instance, In December 2017, Edwards Lifesciences Corporation announced new data demonstrating the economic advantages of the company’s SAPIEN 3 transcatheter aortic valve.

On the basis of type of surgery, aortic valve market is segmented into MIS and open surgery. The adoption of these valves for MISs is expected to grow at a faster CAGR of 13.7% during the forecast period. MISs causes lesser trauma to the patient and facilitate quicker recovery than invasive procedures such as open-heart surgeries. Due to reduced prices and advantages, there is an increase in the adoption of minimally invasive procedures, which contribute in the growth of the market.

The key end user in the aortic valve market includes hospitals, and others. Among these, hospitals registered the larger share, of 76.3%, in the market in 2017, owing to increasing number of patient population with valvular diseases in the hospitals.

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During the forecast period, the aortic valve industry is expected to witness the fastest growth in demand in Asia-Pacific (APAC), at a CAGR of 13.0%, owing to the presence of large number of patient population with cardiovascular diseases, rising number of aortic valve replacement surgeries, growing medical tourism, and continuously improving healthcare infrastructure.

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Moreover, economic development and rising healthcare expenditure are some of the factors that are expected to boost the APAC aortic valve market over the forecast period. Growing number of approvals for transcatheter valves by companies such as Edwards Lifesciences Corporation, Medtronic plc, and others is also expected to contribute in the growth of the market. For instance, in March 2018, LivaNova plc announced the first patient enrolment in the Perceval Valve clinical study for Chinese Registration (“PERFECT”) TRIAL. This pre-market, prospective, single-arm trial study is being conducted to demonstrate the safety and effectiveness of Perceval Valve.

Globally, key players in the aortic valve industry are seeking for approvals to launch new products in the market. For instance, in February 2018, Edwards Lifesciences Corporation received CE Mark for its self-expanding CENTERA valve for severe, symptomatic aortic stenosis patients at high risk of open surgery. In March 2018, LivaNova Plc received CE Mark approval for its Bicarbon aortic valves for use with low-dose anticoagulant therapy. This expanded indication of the company’s Bicarbon family of mechanical valves is based on evidence and results from the LOWERING-IT trial.

Some of the other key players operating in the aortic valve market are Medtronic plc and Boston Scientific Corporation.

Active Implantable Medical Devices Market Growth Opportunities, Investment Opportunities

According to the study, the global active implantable medical devices market is likely to grow from $17.0 billion in 2016 to $28.9 billion by 2023. Technological advancements, increasing prevalence of cardiovascular diseases, rising healthcare expenditures and increasing research and development activities have been driving the growth of the global active implantable medical devices market. The market is further expected to gain revenue due to increasing geriatric population and incidence of neurological disorders. Development of subcutaneous implantable cardioverter defibrillators along with the increasing demand from developing nations is expected to create ample growth opportunities in the global active implantable medical devices market.

As per the findings of research, implantable cardioverter defibrillators held the largest share in the global active implantable medical devices market in 2016, primarily due to the development of technologically advanced devices and increasing prevalence of cardiovascular diseases. The neurostimulators market is expected to witness the highest growth during the forecast period. This growth of neurostimulators is attributed to the increasing incidence of neurological disorders and increasing demand from emerging economies. Among different type of implantable cardioverter defibrillators, transevenous implantable cardioverter defibrillators held larger share in the global active implantable medical devices market in 2016, and it is also expected to witness higher growth during the forecast period. Increasing research and development activities and rising compliance for technological innovations and data driven customizations are driving the growth of the global transvenous implantable cardioverter market.

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Geographically, North America has been the largest market for active implantable medical devices, with the U.S. being the larger contributor to the regional market as compared to Canada. The key factor driving the North American active implantable medical devices market are technological advancements, high healthcare expenditure, growing geriatric population, improved healthcare infrastructure and growing prevalence of cardiovascular diseases. The emerging economies in Asia-Pacific, especially China and India, are expected to grow tremendously in future, which is expected to bring the Asia-Pacific market approximately equal to the European market by 2023. Asia-Pacific presents several growth opportunities for the active implantable medical devices manufacturers due to the rapid expansion of healthcare industry in the region.

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Neurostimulation technology involves the usage of microelectrodes to activate nerves in the nervous system. A neurostimulation device is powered by battery and is a stopwatch sized device. It is surgically implanted in the brain and helps in generating paresthesia, a tingling sensation at the scheduled time intervals to the nervous system. These electric signals develop a sensation in the damaged nerves and help in treating chronic pain and neurological disorders. In case of chronic pain conditions, these electrical signals help in blocking the pain messages from nerves to reach brain. These devices are generally used in cases, where drug therapies are not effective. Increasing incidents of neurological disorders and the rising demand for minimally invasive procedures are leading to the increased demand for neurostimulators. The rapid penetration of neurostimulators market in the emerging economies is expected to have significant impact on the growth of the global active implantable medical devices market.

Key companies in the active implantable medical devices market are acquiring other companies to strengthen their position in the global market. In January 2017, Abbott completed the acquisition of St. Jude Medical, Inc., including its atrial fibrillation, structural heart and heart failure business as well as neuromodulation business. Similarly, in January 2015, Medtronic plc completed the acquisition of Covidien plc. Under the terms of the acquisition agreement, Medtronic, Inc. and Covidien plc are now combined under Medtronic plc. The acquisition strengthened position of the company in the global market with a large number of product offerings.

Some of the other key players in the market include Boston Scientific Corporation, BIOTRONIK SE & Co. KG, LivaNova PLC, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., Sonova Holding AG, and MED-EL.

 

Prefilled Syringes Market Competitive Landscape, Changing Market Trends and Emerging Opportunities

Increasing demand for injectable pharmaceutical products, advanced applications of combination therapies for the management of diseases, rising prevalence of chronic and lifestyle associated diseases, benefits of prefilled syringes over traditional vial and syringe packaging systems, and technological advancements in syringes are the major factors driving the growth of the prefilled syringes market globally.

Prefilled syringe drug delivery systems are frequently used in the treatment of diabetes, rheumatoid arthritis, anaphylaxis, and other diseases, such as multiple sclerosis, anemia, and psoriasis. The application of prefilled syringes for diabetes is expected to lead the global market, advancing at a CAGR of 9.0% during the forecast period. Increasing prevalence of diabetes across the world is the key factor contributing in the growth of the prefilled syringes market. This is substantiated by the fact that, according to the World Health Organization (WHO), the prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014, globally.

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Moreover, China is expected to observe significant growth in the APAC prefilled syringes market, owing to the presence of large number of local players and growing geriatric population in the country. Moreover, various immunization programs implemented by the Chinese government is also contributing to the growth of market. For instance, the Chinese government implemented Polio Endgame Strategic Plan 2013–2018 to eliminate measles, and minimize hepatitis B cases in the country. Due to increasing immunization programs implemented by the government officials in China, there is a high demand for syringes in the country.

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In the same month, AbbVie Inc. also received USFDA approval for IMBRUVICA (ibrutinib) plus rituximab (RITUXAN) for the treatment of adult patients with Waldenström's macroglobulinemia (WM), a rare and incurable type of non-Hodgkin's lymphoma (NHL).

Some of the other key players operating in the prefilled syringes industry are Becton, Dickinson and Company, Eli Lilly and Company, Amgen Inc., Baxter International Inc., Bayer AG, Pfizer Inc., F. Hoffman-La Roche AG, and Novartis AG.

Obesity Surgery Devices Market Growth and Challenges of the Key Industry Players

The market is growing mainly due to increasing prevalence of obesity leading to high demand for obesity surgeries, rising awareness about bariatric surgery in obese population, lifestyle changes leading to high risk of obesity, and technological advancements in the obesity surgery devices industry.

In terms of device type, the obesity surgery devices market is categorized into gastric bands, gastric balloons, stapling devices, gastric electrical stimulators, and others. Stapling devices held the largest share of the obesity surgery devices industry, owing to their high application in all types of bariatric surgeries to staple the stomach and intestine parts. The market will witness fastest growth in gastric balloons, during the forecast period, as these are less invasive and cheaper weight loss therapy.

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The players operating in the global obesity surgery devices market have been continuously making efforts to come up with technologically advanced devices for bariatric surgeries. In June 2015, Medtronic PLC launched GastriSail, a device for sleeve gastrectomy, that can be used as standalone device, whereas, the traditional method of performing sleeve gastrectomy involves the use of three devices. The device posed lesser risk of infection and discomfort as compared to the traditional method. Also, the European Medicines Agency (EMA) had recently approved Elipse device of Allurion Technologies Inc., a procedure less balloon intended to be swallowed and naturally excreted without endoscopy, surgery or anaesthesia. These devices have made the procedure of performing bariatric surgery less time consuming and more effective. The increased effectiveness, and reduced invasiveness and risk of infection, have resulted in more number obese people showing interest in undergoing an obesity surgery, driving the demand for obesity surgery devices.

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Europe is the second largest market for obesity surgery devices, accounting for 25.7% of the worldwide market in 2016. The European market for obesity surgery devices is set to reach $683.6 million by 2023, growing at a CAGR of between 9.3% 2017-2023. The market growth in Europe is mainly attributable to the increasing aging population and rising number of surgical procedures performed for the treatment of obesity in the region. Among all the European countries, France is expected to project the fastest growth in the European obesity surgery devices market, with the CAGR expected to increase from 9.0% during historical period to 10.3% during forecast period. The growth in the country is mainly due to the increasing prevalence of overweight and obesity, and high ratio of number of bariatric surgeries to the number of obese population in France as compared to other European countries.

Some of the key manufacturers operating in the obesity surgery devices market include Medtronic plc, Johnson & Johnson, Spatz FGIA Inc., W. L. Gore & Associates, Inc., ReShape Lifesciences, Inc. (formerly EnteroMedics Inc.), and Cousin Biotech.