Fact.MR, a market research and competitive intelligence provider: 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.
Rising Incidences Of Bone Disorders, Diabetes, Cancers, And Other Ailments Are Likely To Generate Robust Demand For The Self-Administered Medication Market.
Growing Incidences Of Chronic Diseases And Diabetes And Rising Demand To Provide Convenience For The Users By Delivering Effective Drugs And Devices Primarily Drive The Growth Of The Self-Administered Medication Market
Fact.MR, a market research and competitive intelligence provider: 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.
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.
Self-administered drugs are available in oral, injectable as well as nasal form and the route of administration of a drug depends on the type of biologic product and the absorption rate of the therapeutic.
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The global self-administered drugs market is categorized as oral, injectable and others segment based on the route of administration, while on the basis of formulation, the market is categorized as solid, semi-solid and liquid formulations.
Growing prevalence of chronic disorders is projected to contribute towards the global market growth of self-administered medication. In addition, increasing collaboration among the manufacturers is projected to impact the global market growth of self-administered medication.
Key Benefits
- The report throws light on the dominant current trends. Based on the analysis of trends, revenues are forecast from 2022-2032
- Analysis of key strategies adopted by market players would assist in providing an in-depth understanding of market intelligence
- Analysis of trends in various regions would help companies to plan their strategies depending on the region
- Drivers and opportunities are evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the potential of the market
- Porter’s Five Forces analysis provides an insight into market dynamics and industry competition
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.
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.
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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.
Competitive Landscape: Top Companies in Self-Administered Medication Market
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:
- 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.
- 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.
- 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
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Self-Administered Medication Market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product Type (Oral, Subcutaneous, Nasal, Transdermal), by Formulation (Solid, Semi-Solid, Liquid), by Application, by Sales Channel and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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