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Self-Administered Parenteral Global Market 2024 - Top Manufacturers, Latest Trends, Future Prospects And Outlook By 2033
Self-Administered Parenteral Global Market
According to The Business Research Company's, The self-administered parenteral market size has grown strongly in recent years. It will grow from $23.14 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to rise in chronic diseases, aging population, government initiatives, patient education and support programs, the rising incidences of bone disorders.
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Market Drivers and Trends:
The growing incidence of chronic diseases is expected to propel the growth of the self-administered parenteral market going forward. Chronic diseases are long-lasting medical conditions that generally progress slowly over time and often require ongoing management and treatment. Self-administered parenteral products are used in the management of chronic diseases to manage treatment independently, which can significantly improve adherence compared to oral medication. For instance, in January 2023, according to the National Institutes of Health, a US-based government agency, among the population aged 50 or above, the number of people with at least one chronic disease is expected to increase by 99.5% from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the growing incidence of chronic diseases is driving the growth of the self-administered parenteral market.
Major companies operating in the self-administered parenteral market are focusing on developing innovative products, such as the UDENYCA autoinjector, to provide increased choice and control, ultimately making treatment more accessible to patients. An autoinjector is a medical device designed to deliver a single dose of a particular drug. It is an intuitive design with administration triggered immediately and reliably by push-on-skin activation. For instance, in May 2023, Coherus BioSciences Inc., a US-based biotech company, launched the UDENYCA autoinjector, a self-administered parenteral medication in the US. The UDENYCA Autoinjector is a single-dose, prefilled autoinjector that offers patients an additional administration option for pegfilgrastim. It is designed to be intuitive, with administration triggered by push-on-skin activation, allowing for reliable and immediate delivery of a full pegfilgrastim dose. Additionally, it offers several user-friendly features that promote successful delivery, including fast dosing, intuitive design, dual coverage, at-home and in-office use, and a reduction of febrile neutropenia risk.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Sanofi S.A., AstraZeneca PLC, Roche Holding AG, Eli Lilly and Company, Novo Nordisk A/S, Becton, Dickinson and Company, Teva Pharmaceutical Industries Ltd., Mylan N.V., Terumo Corporation, Catalent Inc., Dexcom Inc., West Pharmaceutical Services Inc., Gerresheimer AG, Biocon Limited, Insulet Corporation, Halozyme Therapeutics Inc., Ypsomed AG, Antares Pharma Inc., SHL Medical AG, Owen Mumford Ltd., Novartis AG, Kaleo Inc., Haselmeier AG, Bespak (A Consort Medical Company), Senseonics Holdings Inc., ScPharmaceuticals Inc., Fresenius Kabi AG
Self-Administered Parenteral Market 2024 Key Insights:
• The self-administered parenteral market is expected to grow to $29.8 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Chronic Diseases Fueling Self-Administered Parenteral Market Expansion
• Innovative Autoinjector Solutions Revolutionizing the Self-Administered Parenteral Market
• North America was the largest region in the self-administered parenteral market in 2023
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