The self-administered biologics market is anticipated to experience steady growth over the next decade, driven by the increasing demand for biologic therapies aimed at managing chronic diseases such as diabetes, rheumatoid arthritis, and cancer.
NEWARK, DE / ACCESSWIRE / September 3, 2024 / As per Future Market Insights' latest industry analysis, the self-administered biologics market was valued at around USD 90,007.3 Million in 2023 and is anticipated to exhibit a CAGR of 4.5% over the forecast period (2024-2034).
Self-administered insulin injections are an important part of the diabetes dosage regime. Self-administered insulin offers convenience and flexibility to patients in managing their diabetes.
The market is characterized by a diverse range of biologic products designed for the treatment of chronic diseases such as rheumatoid arthritis, diabetes, multiple sclerosis, and various forms of cancer. The shift towards self-administration is supported by advancements in drug delivery technologies, including auto-injectors, wearable devices, and needle-free systems. These innovations are making it easier for patients to manage their conditions without frequent hospital visits, thus improving their quality of life.
Self-administered Biologics Market Value and Growth Projections
The Self-administered Biologics Market is poised for significant growth over the next decade, reflecting the broader trends in personalized medicine and patient empowerment. In 2024, the market is expected to reach a valuation of USD 94,057 million. This impressive figure underscores the growing importance of self-administered biologics in the global healthcare landscape.
Looking ahead, the market is projected to continue its upward trajectory, reaching an estimated value of USD 146,068 million by 2034. This represents a compound annual growth rate (CAGR) of 4.5% from 2024 to 2034. The sustained growth is likely to be driven by the increasing prevalence of chronic diseases, technological advancements in drug delivery systems, and a rising emphasis on patient-centered care models.
Market Value of Self-administered Biologics by Country
Countries |
Value CAGR (2024 to 2034) |
Canada |
3.5% |
Germany |
4.0% |
France |
3.8% |
Italy |
3.5% |
China |
7.4% |
India |
6.5% |
Japan |
4.5% |
"Rise in Research and Development Activities for Self-Administered Biologics Leading to Increase in the Approval of Subcutaneously Delivered Biologics is Ultimately Driving Significant Advances in the Self-Administered Biologics Market." SaysSabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Prominent Drivers of the Self-administered Biologics Market
Several key factors are propelling the growth of the Self-administered Biologics Market:
Rising Prevalence of Chronic Diseases: The global burden of chronic diseases, such as diabetes, autoimmune disorders, and cancer, is increasing. This has led to a growing demand for biologic therapies that can be easily administered by patients at home, reducing the need for frequent hospital visits and enabling more consistent treatment adherence.
Advancements in Drug Delivery Technologies: Innovations in drug delivery systems, including prefilled syringes, autoinjectors, and wearable devices, are making self-administration safer, easier, and more efficient. These technologies are designed to minimize discomfort, reduce the risk of dosing errors, and improve patient compliance.
Patient Preference for Home-based Treatments: There is a notable shift towards home-based care, driven by the desire for greater convenience and reduced healthcare costs. Self-administered biologics align with this trend, offering patients the flexibility to manage their treatments in the comfort of their own homes.
Supportive Regulatory Environment: Regulatory agencies are increasingly recognizing the benefits of self-administered biologics, leading to faster approvals and expanded indications for these products. This is creating a favorable environment for market growth.
Challenges Faced by the Self-administered Biologics Market
Despite the promising growth prospects, the Self-administered Biologics Market faces several challenges:
High Cost of Biologics: One of the primary barriers to market growth is the high cost of biologic therapies. These treatments are often more expensive than traditional drugs, making them less accessible to patients in low- and middle-income regions. Additionally, the cost of advanced drug delivery devices can further elevate the overall treatment expense.
Complexity of Administration: While advancements in drug delivery technologies have made self-administration easier, there is still a learning curve associated with these devices. Patients, especially those who are elderly or have limited dexterity, may struggle with the proper use of autoinjectors or wearable devices, leading to potential issues with treatment adherence.
Regulatory Hurdles: The regulatory landscape for self-administered biologics is complex and varies by region. Ensuring compliance with diverse regulatory requirements can be challenging for manufacturers, potentially slowing down the introduction of new products to the market.
Need for Comprehensive Patient Education: Effective self-administration of biologics requires thorough patient education and support. Healthcare providers must invest time and resources in training patients on proper administration techniques, potential side effects, and the importance of adherence to treatment protocols.
Key Players of the Self-administered Biologics Industry
Novo Nordisk
Eli Lilly
Johnson & Johnson
Pfizer
Roche
AbbVie
Bristol-Myers Squibb
GlaxoSmithKline
Novartis
Sanofi
Takeda Pharmaceutical
AstraZeneca
Bayer
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/self-administered-biologics-market
Self-administered Biologics Market Segmentation
By Indications:
In terms of indication, the industry is segregated into diabetes, rheumatoid arthritis, anaphylaxis, and others.
By Product:
In terms of product, the industry is segmented into prefilled syringes, autoinjectors, wearable injectors, drug reconstitution delivery systems, and pen injectors.
By Mode of Delivery:
In terms of mode of delivery, the industry is bifurcated into subcutaneous, intramuscular, and transdermal.
By End User:
In terms of end users, the industry is segregated into homecare settings and hospitals/clinics.
By Brand:
In terms of brand, the industry is segmented into branded biologics and biosimilars.
By Technology:
In terms of technology, the industry is bifurcated into conventional devices and smart devices.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, the Middle East, and Africa have been covered in the report.
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