Self-injection Device Market to Gain at a Significant CAGR of 13.4% from 2018 to 2026

Transparency Market Research (TMR) has published a new report titled ‘Self-injection Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global self injection devices market was valued at US$ 3,770.03 Mn in 2017. It is projected to expand at a CAGR of 13.4% from 2018 to 2026. Technological advancements in Self-injection devices, high prevalence of chronic disorders requiring frequent medication dosages, and rise in demand for home health care are anticipated to drive the global market in the next few years. North America is expected to dominate the global Self-injection devices market during the forecast period, followed by Europe. High prevalence of diabetes and autoimmune disorders, increase in the geriatric population, and rise in approvals of novel Self-injection devices in the U.S. and Europe are likely to drive the Self-injection devices market in these regions during the forecast period. The market in Asia Pacific is projected to expand at a high CAGR in the next few years.

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Disposable Self Injection Devices Dominated the Global Market

In terms of usage, the global self-injection devices market has been segmented into disposable devices and re-usable devices. The disposable devices segment accounted for more than 70% of the global market in 2017. The segment is likely to continue its dominance throughout the forecast period. A large proportion (70% to 80%) of insulin-dependent diabetes patients in developed countries such as the U.S., Canada, the U.K., Germany, France, and Italy use disposable pens. Several patients that are currently using reusable pens are estimated to gradually switch to disposable ones during the forecast period. This is due to ease of use and convenience, patient preference, rise in the level of reimbursement, and increase in affordability, with disposable pens being used by an estimated 54% of insulin-dependent diabetics in 2026.

Asia Pacific Offers High Incremental Opportunity

The Self-injection devices market in Asia Pacific is projected to expand at a rapid CAGR of 14.1% during the forecast period. High prevalence of chronic disorders in highly populated countries, such as China and India, rapid improvement in health care infrastructure, increase in access to health care facilities, and rise in per capita health care expenditure in the region are likely to fuel the market in Asia Pacific during the forecast period. A large base of pharmaceutical and medical device companies in countries such as India, Japan, and China also drives the market in the region. Emerging economies and expansion of pharmaceutical markets in countries such as China, India, Indonesia, Singapore, Taiwan, and Thailand are expected to propel the market in Asia Pacific.

Key Trend of Joint Ventures among Pharmaceutical Companies and Medical Device Companies

The global Self-injection devices market is highly consolidated, with a few global players accounting for a major share in respective regions. Leading pharmaceutical and medical device companies are establishing strategic partnerships to develop novel Self-injection devices to differentiate their products in a highly competitive environment. Leading players shaping the vendor landscape of the global Self-injection devices market are Becton, Dickinson and Company, Gerresheimer AG, Insulet Corporation, Ypsomed AG, Antares Pharma, Inc., West Pharmaceutical Services, Inc., Consort Medical plc, Sensile Medical AG, Owen Mumford Ltd., SHL Group, and Wilhelm Haselmeier GmbH & Co. KG.

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