Self-Administered Medication Market Expected To Achieve A Sustainable Growth

Posted by Arslan on September 20th, 2019

The report studies the self-administered medication market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on self-administered medication market to its wide online database including upcoming trends and market growth factors through 2026. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.

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.

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.

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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.

Competition Tracking                                                        

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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