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Self-Administered Medication Market

Self-Administered Medication Market

Self-Administered Medication Market Analysis by Product Type (Oral, Subcutaneous, Nasal, Transdermal), by Formulation (Solid, Semi-Solid, Liquid), by Application, by Sales Channel, by Region - Global Forecast 2022-2032

Self-Administered Medication Market
FACT328MR
  • Mar-2022
  • List of Tables : 80
  • List of Figures : 131
  • 170 Pages
  • Healthcare

Global Self-Administered Medication Market Outlook

The global self-administered medication market is estimated at USD 87.5 Billion in 2022 and is forecast to surpass USD 200.5 Billion by 2032, growing at a CAGR of 8.6% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 80.9 Billion

Estimated Year Value (2022E)

USD 87.5 Billion

Projected Year Value (2032F)

USD 200.5 Billion

Global Growth Rate (2022-2032)

CAGR 8.6%

North America Market Share in 2021

~25%

North America Growth Rate (2022-2032)

CAGR 9.2%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~38%

Top 5 Companies Market Share in 2021

~22%

Key Companies Profiled

  • Abbott Laboratories
  • Purdue Pharma LP
  • Sanofi S.A
  • Pfizer Inc.
  • Mylan N.V.
  • Novartis AG
  • Amgen Inc.
  • Other Market Players

The global self-administered medication market is projected to account for ~8% of the global medication market in 2022. The global self-administered medication market is estimated to have an absolute $ opportunity of USD 113.0 Billion during the forecast years of 2022-2032. 

2017-2021 Global Self-Administered Medication Market Outlook in Comparison to 2022-2032 Growth Forecast

The self-administered medication is administered by patients themselves to control blood pressure, blood glucose, and other chronic illnesses. Active lifestyles have prompted patients to take medications which saves time and avoid hospitals altogether. Additionally, high healthcare costs are encouraging patients to demand for self-administered medication market and is likely to provide a gain of 430 BPS to the market.

The growing incidences of chronic disorders are likely to contribute to the growth of self-administered medication market. In addition to this, an escalating collaboration by the manufacturers in the market is estimated to impact the self-administered market growth in a positive direction. Thereby all the above-listed factors are estimated to provide a gain of 230 BPS to the market in coming years.

Fact.MR projects the self-administered medication market is expected to witness exhibiting growth at 8.6% CAGR during 2022 and 2032 in comparison to a CAGR of 6.2% with which it grew from 2017 and 2021.

Rise in Chronic Diseases Positively Impacting Growth

Asthma, arthritis, gastrointestinal diseases, inflammation are a few examples of chronic diseases. The rise in the prevalence of such diseases is likely to enhance sales of self-administered medication market. These diseases require treatment such as frequent visits to the hospital, taking vaccinations etc.

Additionally, escalating need for treatment of asthma and bronchitis in emergency conditions is estimated to support market growth by 1.3X during the forecast years of 2022-2032. Moreover, the immediate treatment required for chronic diseases providing quick relief to the patients is poised to escalate the demand for eye drops, nasal sprays, tablets, ear drops etc. Due to these factors, the market growth of self-administered medication is poised to gain 217 BPS in the coming years.

Collaboration Providing Lucrative Growth Opportunities

Market players in the self-administered medication market are increasingly collaborating with delivery device companies, which is expected to present lucrative growth opportunities for the players. The collaboration is estimated to support market growth by ~25% during the assessment years of 2022-2032. For instance, the collaboration between Portal Instruments and Takeda to develop a needle-free drug delivery device for the delivery of biologic medicines. Manufacturers in the self-administered medication market are focusing on developing improved drug delivery devices which are poised to support market growth by 1.7X in coming years.

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Factors Restricting Market Growth :

Multiple factors are estimated to impact the self-administered medication market growth and impede its growth. For instance, risks of making errors during the dosage administration practices, lack of awareness regarding multiple drug administration devices is likely to impact the market negatively.

Additionally, improper designing and the directions to use the drug delivery devices is estimated to pose significant challenges and restrict the market growth by 0.8X during the forecast years of 2022-2032.

Region-wise Insights

Which region accounts for more enhanced demand for Self-Administered Medication Market?

North America self-administered medication market accounts for the largest market share of 25.2%. The rising incidences of bone disorders, diabetes, cancers, and other ailments are likely to generate robust demand for the self-administered medication market. 

Moreover, escalating number of admissions in facilities in the region coupled with the availability of insurance for some self-administered drugs is further influencing the market. Therefore, the market is projected to grow at a CAGR of 9.2% during the forecast years of 2022-2032.

What is the market scenario in East Asia and South Asia for Self-Administered Medication Market?

The East Asia and South Asia self-administered medication market accounts for 19.8% and 19.1% of the overall market share respectively. Collectively, they hold 38.9% of the overall self-administered medication market share together.

Owing to the expanding geriatric population prone to multiple chronic diseases coupled with the rising number of online and offline distribution facilities is propelling the market growth. Therefore, the South Asia ad East Asia self-administered medication market is projected to expand at a CAGR of 8.9% and 8.7% respectively in coming years.

Self administered medication market forecast by Fact.MR

An Adaptive Approach to Modern-day Research Needs

Category-wise Insights

Which product type dominates the Self-Administered Medication Market during the assessment period of 2022-2032?

The injectable segment under product type holds nearly 26.2% of the self-administered market share. The escalating cost burden is likely to escalate the growth and demand for injectable medication. The healthcare setting involves high costs of medication expenditure, which will positively impact injectable segment growth. 

In addition to this, the rapid relief provided by injectable is poised to favour the patient preference towards them in the coming years. Due to the above-listed factors, the segment is projected to grow at a CAGR of 9.1% during the assessment years of 2022-2032. 

Which segment under formulation is estimated to account for largest market share in Self-Administered Medication Market?

Based on formulation, the solid self-administered medication market accounts for the largest market share of 38.9%. The segment is expected to witness rapid growth during the assessment years. Factors such as easy availability coupled with ease of administration in patients of all age groups are expected to impact the market positively.

Additionally, several diseases can be treated with solid formulated drugs, and the better affordability of solid formulations are some of the factors behind the segment witnessing the growth at a CAGR of 9.3% in coming years.

Which sales channel segment is estimated to account for higher growth in Self-Administered Medication Market?

Under the sales channel, the self-administered medications are sold via online and offline sales channels. Online sales account for 47.6% of the market share and offline sales account for 52.4% of the market share.

However, the augmenting internet penetration across the world is poised to provide enhanced growth to the online sales channel segment. Additionally, online sales provide convenience, easy accessibility, and cost-effective alternatives to the consumers, thereby supporting market growth. Therefore, the online sales channel segment is projected to grow at a CAGR of 8.9% during the assessment period of 2022-2032.

Competitive Landscape: Top Companies in Self-Administered Medication Market

The global self-administered medication market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced self-administered medication.

Fact.MR has provided detailed information about price points of top manufacturers of self-administered medication market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  1. Abbott Laboratories in 2021 announced the acquisition of a medical device company, Walk Vascular LLC. This acquisition will expand the peripheral vascular offering of Abbott and will drive endovascular therapy solutions thereby improving patient care. 
  2. Pfizer Inc. in 2021 announced to acquire Trillium Therapeutics Inc. Trillium Therapeutics is a clinical-stage immune-oncology company that develops innovative therapies to treat cancer. 
  3. Novartis in 2020, acquired The Medicines Company. This acquisition will provide a unique opportunity to provide treatment to the world’s leading cause of disability and mortality with vaccines. 

Global Self-Administered Medication Market Segments

  • By Product Type, Global Self-Administered Medication Market is segmented as:

    • Oral
    • Subcutaneous
    • Nasal
    • Transdermal
  • By Formulation, Global Self-Administered Medication Market is segmented as:

    • Solid Self-Administered Medication
    • Semi-Solid Self-Administered Medication
    • Liquid Self-Administered Medication
  • By Application, Global Self-Administered Medication Market is segmented as:

    • Cardiovascular Diseases
    • Diabetes
    • Osteoporosis
    • Pain Management
    • Hormone Replacement
    • Others
  • By Sales Channel, Global Self-Administered Medication Market is segmented as:

    • Online Sales
    • Offline Sales
      • Hospital Pharmacies
      • Retail Pharmacies
      • Other Sales Channel
  • By Region, Global Self-Administered Medication Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

- FAQs -

The global value of self-administered medication market is estimated to be worth over USD 87.5 Billion in 2022.
The demand is anticipated to surpass USD 200.5 Billion by 2032 end.
During 2017-2021, global self-administered medication market grew at 6.2% CAGR.
Some of the prominent players in self-administered medication market are Abbott Laboratories, Purdue Pharma LP, Sanofi S.A., Pfizer Inc., Mylan N.V., etc.
North America tops the global self-administered medication market accounting for 25.2% of global market share in 2022.
Sales of injectable contributes 26.2% of market share in global sales of self-administered medication.

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