Self Administration Drugs Market to Receive Overwhelming Hike in Revenues by 2024
The drugs that are taken by the patients on their own are known as self administration drugs. These drugs are administered in the body through implantable and non implantable infusion pumps which have an opening that comes in contact with the skin surface for injecting drugs. In addition, oral, over-the-counter and topical prescription drugs are also considered to be self administered drugs.
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Self administered drugs include Actimmune, Afinitor, Apokyn, Enbrel, Cetrotide, Caprelsa, Cetrotide, Bosulif, Bravelle, Betaseron,Zytiga, Zorbtive, Zolinza, Xgeva, Zavesca, Xeloda, Xtandi, Tev-Tropin, TOBI, Vectibix, Temodar, Tecfidera, Ventavis, Tasigna and Thalomid. Many more drugs are in the market that can be taken by the patients on their own. Infusion pumps play a very crucial role in self administration drugs market. Insulin and certain analgesics are directly injected to the intravenous and cerebrospinal fluid respectively, through the infusion pumps.
Change in lifestyles will augment the growth of this market since the use of self administered drugs would reduce time for the patient. In addition, reimbursement policies will also boost the growth of this market. Medicare Supplemental Medical Insurance (SMI) covers certain list of self administered drugs that are given for general care of the patient. Moreover, shifting of patient population to industrial countries may also trigger the growth of this market. High healthcare costs coupled with increasing trend towards self administration of drugs for various diseases will also enhance the growth of this market. Increase in the number of diabetic patients worldwide will contribute greatly to the growth of this market.
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Despite all these factors, growth of this market may get hindered due to various reasons such as side effects due to improper doses of medications and leakage of raw materials of the implants in blood. In addition, stringent caregiver safety legislations will also hamper the growth of this market. The major players operating in the self administration drugs market include Abbott Laboratories, Bristol-Myers Squibb, Gilead Sciences, Novartis AG and Eli Lilly and Company, among other significant players worldwide.
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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