The global self-administered parenteral market is on an impressive growth trajectory, poised to reach a remarkable USD 25,339.7 million by 2024, as highlighted by recent industry analysis. This upward trend is expected to continue, with a robust compound annual growth rate (CAGR) of 4.8% projected over the next decade. By 2034, the market is anticipated to soar to a substantial USD 40,598.9 million.
The substantial growth in the self-administered parenteral market can be attributed to several driving factors. The rising prevalence of chronic illnesses is a significant contributor, prompting an increased demand for efficient and user-friendly self-injection devices. Additionally, there is a growing interest in self-injection techniques among patients seeking greater autonomy in managing their health.
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The rising incidence of chronic diseases globally has heightened the need for efficient and convenient methods of drug delivery, fostering a greater acceptance of self-administered parenteral solutions among patients. Additionally, the growing preference for self-care and patient empowerment has fueled the demand for user-friendly self-injection devices.
Moreover, continuous innovations in parenteral devices, including advancements in needle-free injection systems, smart injectors, and wearable injectors, are expected to further propel market growth over the forecast period.
As the self-administered parenteral market continues to expand, stakeholders across the healthcare sector are poised to capitalize on emerging opportunities and meet the evolving needs of patients worldwide.
Key Takeaways from the Market Study:
- The global market for self-administered parenteral products is projected to attain a valuation of USD 40,598.9 million by 2034.
- By product, the pre-filled syringes held a dominant share value of 8% in 2023.
- By application, pain management segment is projected to advance at 2% CAGR.
- By usage, the disposable segment accounted for a revenue share of 2% in 2023.
- By distribution channel, the hospital pharmacies segment is set to grow at 9% CAGR.
- North America held a global value share of 5% in 2023.
- Demand in India is anticipated to rise at 4% CAGR through 2034.
- China is projected to register a CAGR of 3% between 2024 and 2034.
“Growing prevalence of cardiovascular disorders among aging adults and rising need for advanced drug delivery technologies are expected to spur growth of the self-administered parenteral industry,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Market Competition:
Top players in the market are focusing on developing new innovative solutions to meet evolving needs and preferences of patients. Similarly, manufacturers like Becton, Dickinson and Company and AstraZeneca are using mergers, acquisitions, and partnerships to enhance their presence in the market and compete with other competitors.
Recent Developments:
- In May 2023, a new autoinjector called UDENYCA AI was launched by Coherus BioSciences, Inc. in the United States.
- In February 2023, AstraZeneca completed the acquisition of CinCor Pharma, Inc. (CinCor).
Key Companies Profiled:
- Becton, Dickinson and Company
- scPharmaceuticals
- Harro Höfliger
- Owen Mumford
- Haselmeier
- Stevanato Group
- Ypsomed AG
- Solteam Group
- AstraZeneca
- Enable Injections
- CCBio
- Phillips-Medisize Corporation
- Sorrel Medical
- Krontec Healthcare
- Subcuject Aps
- Ascendia Pharmaceuticals
- West Pharmaceutical Services, Inc.
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Key Market Segments Covered in Self-administered Parenteral Industry Research:
By Product:
- Pre-filled Syringes
- Autoinjectors
- Pen Injectors
- Others
By Application:
- Cardiovascular Diseases
- Diabetes
- Osteoporosis
- Pain Management
- Hormone Replacement
- Others
By Usage:
- Disposable
- Reusable
By Distribution Channel:
- Hospital Pharmacies
- Online Pharmacies
- Home Healthcare Providers
- Specialty Clinics
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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