PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1303569
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1303569
Global Self-injection Devices Market is valued at approximately USD 6.98 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.7% over the forecast period 2023-2030. Self-injection devices, also known as autoinjectors or self-injectors, are medical devices designed to allow individuals to administer medications to themselves through a subcutaneous under the skin or into the muscle route. These devices are commonly used for the self-administration of medications such as insulin, epinephrine, and certain other injectable medications for the treatment of various medical conditions, including diabetes, severe allergic reactions, and autoimmune diseases. The Self-injection Devices market is expanding because of factors such as rising diabetes prevalence and growing geriatric Population.
According to the World Health Organization, diabetes will afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. Furthermore, as per Statista, diabetes affected around 10.5% of the global adult population in 2021; by 2045, this figure is predicted to climb to more than 12%. Since diabetes is a self-examined disease as it needs personal assistance and can be controlled by regular medical surveillance. Another important component driving space is growing geriatric population. According to the World Bank Group, the global elderly population was 727 million in 2020, and it is expected to triple in the next three decades, reaching 1.5 billion by 2050. In addition, by 2050, 80% of older people will be living in low- and middle-income countries. The pace of population ageing is much faster than in the past. Also, rising technological advancements in self-injection devices and increasing government regulatory approvals would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Self-injection Devices stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Self-injection Devices Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the presence of key market players. According to Statista, the medical devices industry in the United States was valued at 226 billion US dollars in 2021 and is expected to reach 312 billion US dollars by 2027, with an annual growth rate of 5.38 % during this time period. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric populations, and active participation of government organizations in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable