Demand of Self-Administered Medication Market to Register a CAGR of 8.5% Through 2026

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. Fact.MR states that the global market of self-administered medication is projected to reflect a CAGR of 8.5% over the forecast period, 2017-2026.

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Factors Fuelling Global Market Growth

Growth of the global self-administered medication market is mainly bound by various macro-economic and micro-economic factors. Increasing prevalence of various chronic disorders has led to an upsurge in demand for treatments and medications.

Frequent visits for medications and treatment purposes can be an expensive option for the patients. Manufacturers are increasingly focusing on offering drug delivery devices and medications that can enable convenient administration. With the help of drug delivery devices, patients can access treatment and medication at their home.

Self-administered medication is also a comparatively cheaper option for quick treatment. As various chronic diseases need immediate treatments and medication, self-administered medication is projected to witness significant adoption.

With the increasing prevalence of various chronic disorder such as diabetes, asthma, gastrointestinal diseases, arthritis and inflammation, the global market of self-administered medications is projected to increase. Medications of these chronic diseases are required to be taken daily for effective treatment. In addition, growing prevalence of diabetes has led to surge in demand for vaccination.

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As vaccinations need to be taken daily, visiting the hospitals could be an expensive option. Manufacturers are increasingly offering insulin devices for convenient and timely intake of medications for diabetes. Such factors have led to surge in demand for self-administered drugs and devices. Bound to these factors, demand for self-administered medications is projected to increase globally.

Market Taxonomy

Route of Administration
• Oral
• Subcutaneous
• Nasal
• Transdermal

Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

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Sales to Remain High in the Hospitals

With the increasing prevalence of diseases such as asthma and bronchitis, demand for the inhalers are likely to increase. Based on product type, the inhalers segment is projected to witness significant revenue growth, recording more than US$ 20,000 Mn by 2026-end.

In contrary to this, the insulin product type segment is projected to reflect a healthy CAGR during the forecast period. In terms of revenue, the nasal route of administration segment is projected to witness significant revenues growth, accounting for more than US$ 10,000 Mn by 2017-end. However, the the transdermal route of administration segment is projected to reflect a robust CAGR throughout the forecast period.

On the basis of distribution channel, the hospitals segment is projected to represent the highest revenue growth, recording more than US$ 20,000 Mn. On the contrary, the online pharmacies distribution channel segment is projected to witness the fastest growth in the global market.

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Market Players

Major players in the global administered medication market are Purdue Pharma LP, Abbott Laboratories, Pfizer, Inc., Sanofi S.A., Novartis AG, Mylan N.V. and Amgen Inc.

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