The Self-Injections Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Self-Injections Global Market Report 2024, The self-injections market size has grown exponentially in recent years. It will grow from $50.72 billion in 2023 to $63.54 billion in 2024 at a compound annual growth rate (CAGR) of 25.3%. The growth in the historic period can be attributed to rising chronic diseases, improved patient empowerment, regulatory support, preference for home healthcare, cost-effectiveness..
The self-injections market size is expected to see exponential growth in the next few years. It will grow to $147.24 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to pandemic impact and remote treatment, expansion into emerging markets, patient-centric healthcare, advantages in drug delivery, personalized medicine trends.. Major trends in the forecast period include smart technology integration, rise in biologics usage, miniaturization and wearable devices, enhanced safety features, adoption of autoinjectors..
The growing number of diabetic patients is expected to propel the growth of the self-injections market going forward. Diabetes refers to a condition where the pancreas, a human organ that produces insulin, produce less than an adequate level of insulin which leads to the breakdown of blood sugars and causes serious health conditions like heart disease, vision loss, and kidney diseases. Self-injections can be used by diabetic patients for injecting insulin and other medications which help maintain optimum blood sugar levels and block any excess blood sugars at any given point of time without the help of a medical professional. For instance, according to International Diabetes Federation (IDF), a Belgium-based organization that represents 230 national diabetes associations in more than 160 countries and territories, in 2021, 567 million adults aged between 20 to 79 years are currently living with diabetes, and the number of diabetic patients is expected to grow and reach 643 million by 2030 and 783 million by 2045. Therefore, the growing number of diabetic patients is driving the growth of the self-injections market.
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The self-injections market covered in this report is segmented –
1) By Type: Devices, Formulations
2) By Route Of Administration: Skin, Circulatory or Musculoskeletal, Organs, Central Nervous System
3) By Dosage: Single Dose, Multi Dose
4) By Application: Autoimmune Diseases, Hormonal Disorders, Oncology, Orphan Diseases, Pain Management, Respiratory Therapy, Other Applications
5) By Distribution Channel: Hospitals Pharmacies, Clinics, Chemist, Online Pharmacies
Major companies operating in the self injections market are developing new solutions for insulin injections to gain a competitive edge in the market. For instance, in September 2022, Terumo Corporation, a Japan-based medical device company launched FineGlide, a Sterile Pen Needle designed for patients requiring regular insulin injections or other self-medication. Compatible with most commonly used pen devices in India, FineGlide prioritizes patient comfort, aiming to enhance drug compliance. FineGlide boasts a 3-bevel super sharp needle with a high-grade silicone surface, ensuring gentleness and comfort for patients. It incorporates Thin Wall Technology for improved flow rate and reduced injection force.
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