Demand of Self-Administered Medication Market is projected to register a CAGR of 8.5% during the forecast period. Global self-administered medication market is expected to represent a value of over US$ 100,000 Mn by the end of 2026. Growing prevalence of chronic diseases has led to surge in the number of disabilities and cause of death.
As prevalence of these diseases require frequent treatments, self-administered medication remains a cost-effective alternative. Increasing demand for self-treatment and healthcare management has led the self-administered medication market players to focus on developing medications and vaccinations that can be used for treatment at home.
Chronic Diseases to Impact Self-Administered Medication Market Growth
Prevalence of chronic diseases such as arthritis, asthma, inflammation and gastrointestinal diseases will impact growth of the self-administered medication market. As treatment of these diseases include vaccinations regularly, frequent visits to the hospital can be an expensive option. Moreover, growing need for treatment in the emergency conditions such as asthma and bronchitis has led growth of self-administered medication market.
Immediate treatment of chronic disorders is expected to rev up demand for nasal sprays, eye drops, ear drops and tablets that provide quick relief to the patients. Bound to such factors, the self-administered medication market will witness significant growth.
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Collaborations to Underscore Growth Lucrative Opportunities
Recent trend witnessed show that the self-administered medication market players are increasingly collaborating with the delivery device companies in order to underscore lucrative opportunities. For instance, Takeda has recently collaborated with Portal Instruments in order to develop a needle-free drug delivery device for delivering biologic medicines.
The Portal devices delivers biologic drugs through pressurized liquid instead of through the needles. As manufacturers are increasingly focusing on developing improved drug delivery devices, the self-administered medication market is expected to witness significant growth.
On the other hand, various factors are impacting growth of self-administered drugs negatively. Risks of making errors during the dosage administration practices is expected to impact the self-administered medication market adversely.
Moreover, lack of awareness regarding various drug administration devices will further affect the global self-administered medication market growth negatively. In addition, improper designing or directions to use the drug delivery devices could pose significant challenges to self-administered medication market growth. Bound to these factors, the self-administered medication market will witness declined growth during the forecast period.
Inhalers to Represent a Leading Segment
Growing prevalence of asthma has led to an upsurge in demand for inhalers in the self-administered medication market. On the basis of product type, the inhalers will witness robust sales in self-administered medication market, accounting for a value of over US$ 20,000 Mn by 2026-end. On the other hand, the insulin product type segment is expected to register a robust CAGR through 2026.
Nasal route of administration will remain preferred in self-administered medication market, recording a value of over US$ 10,000 Mn by the end of 2017. In contrary to this, the transdermal route of administration segment is expected to register the highest CAGR through 2026.
By distribution channel, hospital pharmacies will spearhead the self-administered medication market, accounting for a value of over US$ 20,000 Mn by the end of 2026. However, the online pharmacies distribution channel segment is expected to register a healthy CAGR through 2026.
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Leading players operating in the self-administered medication market include
- Abbott Laboratories
- Purdue Pharma LP
- Sanofi S.A.
- Pfizer Inc.
- Mylan N.V.
- Novartis AG
- Amgen Inc. and others
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(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Growing prevalence of various chronic diseases is expected to fuel demand for the self-administered medication globally. In addition, increasing collaboration among manufacturers is expected to impact growth of the global market significantly. This Fact.MR report analyzes the expansion of global self-administered medication market till date, and provides key insights on the growth of the market during the forecast period, 2017-2026.
The scope of Fact.MR’s report is to analyze the global self-administered medication market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global self-administered medication market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to self-administered medication.
The report commences with a brief information of the global self-administered medication market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global self-administered medication market.
The next section offers an overview of the global self-administered medication market. This comprises an introduction to the market, along with a standard definition of the product – self-administered medication. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global self-administered medication market, the report provides updates about market opportunities, which can benefit leading manufacturers of self-administered medication. With continuous evolution of the healthcare sector, keeping a record of latest developments and trends is fundamental for self-administered medication manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, regulatory approvals, pricing analysis, list of distributors, and cost structure are provided in this section.
The Fact.MR report provides segment-wise analysis and forecast for covering the wide scope of global self-administered medication market. Product type, route of administration, distribution channel, and region are key segments that define the growth of the global market for self-administered medication. In this segmentation analysis, a detailed country-wise forecast across all key market parameters is also included.
The report’s last section comprises of the global self-administered medication market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global self-administered medication market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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