The global self-administered parenteral market value is estimated to reach US$ 25,339.7 million in 2024. Over the forecast period, sales of self-administered parenteral devices are projected to rise at 4.8% CAGR, culminating in a market valuation of US$ 40,598.9 million by 2034.
Several factors are expected to drive growth of the self-administered parenteral industry during the assessment period. These include rising incidence of chronic illnesses, growing interest in self-injection techniques, and continuous innovations in parenteral devices.
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Technological advancements are essential to the growth of the self-administered parenteral industry. Patients can now self-administer more efficiently and safely thanks to the development of user-friendly injection devices with features like autoinjectors, wearable technology, and pre-filled syringes.
The new tools help precisely administer dosages, lowering the possibility of error while streamlining the injection procedure. Real-time data monitoring is made possible by incorporating connection elements in some devices, promoting a more interconnected and patient-centered healthcare ecosystem.
Another distinct driver is the growing focus on patient-centered care models and home healthcare. More and more people are choosing home-based care over hospital-based treatments. This is primarily due to the need to control costs, ensure patient comfort, and follow the growing trend of individualized medicine.
The self-administered parenteral industry is expanding due in part to health economic factors. Self-administration can save healthcare systems money by lowering the need for nurse support and in-person doctor visits. Further, better health outcomes from increased adherence brought on by patient empowerment may save expensive problems and hospital stays.
Self-administered parenteral appears as a strategic solution that aligns with the goals of sustainability and efficiency that healthcare systems are pursuing. Thus, the growing popularity of home healthcare, the rise in chronic illnesses, technological developments, and health-related financial factors will all support market expansion.
Key Takeaways from the Market Study:
- The global market for self-administered parenteral products is projected to attain a valuation of US$ 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).
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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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Inhalation CDMO Market Growth: The global inhalation CDMO industry is expected to expand at a CAGR of 6.4% in the forecast period 2024 to 2034. The market value is projected to increase from US$ 2,018.0 million in 2024 to US$ 3,740.2 million in 2034.
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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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