Presence of Large Insulin-Dependent Diabetic Population Expand Avenue in Self-injection Device Market, Pen Injectors to Account for Sizable Revenue Share, Says TMR

ALBANY, N.Y., April 1, 2021 /PRNewswire/ -- Self-injection devices have become a mainstay of numerous infusion therapies for long-term management of chronic conditions, mainly by making subcutaneous delivery of medicines and hormones easier. This is the key drive for the evolution in the self injection devices market. Advances in design and engineering of self-injection devices are reinforcing uptake in patient populations in homecare settings, notably for rheumatoid arthritis and diabetes. A number of choices among target patients in the use of these self-injection devices in chronic inflammatory diseases are propelling strides in the market. Among various technologies, pen injectors have caught on marked momentum, due to their being inexpensive and the aspect that they are easy to use. Auto injectors and wearable injectors are highly lucrative segments. The later segment is projected to clock CAGR of 20.0% from 2018 to 2026.

The global market is projected to reach valuation of US$ 11,380.9 Mn by 2026, clocking CAGR of 13.4% during the forecast period of 2018 – 2026.

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Key Findings of Self-injection Device Market Study

• Need for long-term management of chronic conditions boosts uptake

The growing morbidity and mortality of chronic diseases is a key aspect spurring the market proposition of self-injection devices. For instance, diabetes was considered as the seventh leading cause of death in 2016, per the WHO. Per a fact sheet by the CDC, the premature mortality rate of diabetes in high-income countries increased during 2010-2016. In low- and middle-income countries, the prevalence of diabetes is higher. Thus, the large presence of target populations has kept the self-injection device market brimming with opportunities. Self-injection devices make access to insulin therapy affordable and the administration easy in home care. Additionally, they reduce the caregiver burden. In rheumatology, biologic self-injection devices have grown in acceptance due to the potential of long-term disease control. In general, the use of biosimilar drugs is gaining acceptance in infusion therapy.

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• Advances in Design and Engineering Aid Patients' Comfort

Growing involvement of patients' feedback in the design of self-infusion therapies has enabled manufacturers to make continuous advancements in engineering and design in self-injection device market. Thus, the market has seen some remarkable advancements of self-injection devices, such as pen injectors and wearable drug delivery systems. The safety and reliability have thus increased substantially, benefitting the patient population. This is crucial for elderly patients who may be burdened with lack of dexterity for adequate administration in self-injection devices. For them, advanced actuator technologies have increased the ease of injection.

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Self-injection Device Market: Key Driving Factors and Avenues

• Rise in elderly population is expected to prove lucrative for companies in self-injection device market
• Growing acceptance of self-care technologies among patients with chronic diseases boosts demand
• Growing popularity of wearable drug delivery solutions to bolster the market prospects

Self-injection Device Market: Key Participants

• SHL Group
• Sensile Medical AG
• West Pharmaceutical Services, Inc.
• Antares Pharma
• Insulet Corporation
• Gerresheimer AG
• Becton, Dickinson and Company

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Self-injection Device Market: Regional Dynamics

• North America has been the leading region in the global self-injection device market
• The presence of a large target population suffering with chronic diseases and the rapid acceptance of self-care technologies have cemented the revenue growth in the regional market.
• Patent expiry of biologics in the near future will add momentum to the demand for self-injection devices
• Asia Pacific is expected to emerge as a highly lucrative regional market by the end of the forecast period.
• The presence of diabetic population and constant advances in healthcare infrastructure are key drivers of market demand.

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Injection Pen Market: https://www.transparencymarketresearch.com/injection-pen-market.html

Rheumatoid Arthritis Drugs Market: https://www.transparencymarketresearch.com/rheumatoid-arthritis-drugs.html

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