Parenteral Drugs Market Growing with Growth in the Number of Parenteral Drug Administration in All Worldwide
The global parenteral drugs market is foreseen to register upward graph of revenues during the forecast period of 2019 to 2029. This growth is attributed to plethora of factors. One of the key factors driving the market growth is consistent growth in the number of parenteral drug administration in all worldwide locations. This aside, the parenteral drugs market is showing promising growth owing to growing use of controlled drug delivery systems in worldwide healthcare sector. In addition to this, swift advancement in the field of biosimilars and biological products is projected to drive the parenteral drugs market growth in the years ahead.
Present report offers detailed data on key elements impacting on the growth of the global parenteral drugs market. It sheds light on drivers, restraints, opportunities in the market for parenteral drugs. The report performs segmentation of the global parenteral drugs market based on product, application, and region. Based on product, the market for parenteral drugs is bifurcated into injector cartridges, IV catheters, hypodermic syringes, and prefilled syringes.
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Global Parenteral Drugs Market: Growth Dynamics
Following oral administration, parenteral drug administration is considered as the most efficient drug delivery techniques in healthcare sector. Key reason attributed to this scenario is gamut of benefits related to the use of parenteral drug administration. One of the most popular benefits is higher bioavailability of the active pharmaceutical ingredient along with a thin therapeutic index. This scenario depicts that the global parenteral drugs market holds remarkable growth avenues in future.
In recent period, there is increased inclination toward the use of prefilled syringes in healthcare sector. Use of prefilled syringes achieves minimum risk of contamination, ease of administration, advanced safety, and accurate dosages. Owing to all these advantages, the global parenteral drugs market is foreseen to witness remarkable sales opportunities in the years ahead.
Global Parenteral Drugs Market: Notable Development and Competitive Analysis
Major enterprises in the global parenteral drugs market are increasing spending on research and development activities. By executing this move, these players are eyeing on the development of latest technologies and introduction of advanced products. Several players in the global parenteral drugs market are focused on growing their regional presence. To attain this aim, they are entering into partnership and collaboration agreements. All these activities by well-established players depict the future expansion opportunities for the global parenteral drugs market.
The list of important players in the global parenteral drugs market includes:
- AstraZeneca plc
- Amgen Incorporated
- Baxter International Incorporated
- Abbott Laboratories
- Becton Dickinson
- AptarGroup Incorporated
- Bristol-Myers Squibb Company
- Pfizer Incorporated
- Novartis AG
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Global Parenteral Drugs Market: Regional Assessment
The global parenteral drugs market shows presence mainly in four regions, namely, North America, Europe, Asia Pacific, and rest of the world. Among the important regions, North America is one of the lucrative regions in the market for parenteral drugs. Key reasons attributed to this growth are increased patient awareness levels and growing inclination toward the use of advanced healthcare technologies in this region.
The parenteral drugs market is estimated to experience remarkable expansion opportunities in Asia Pacific. Key reason supporting this growth of Asia Pacific parenteral drugs market is greater untapped avenues together with swiftly advancing healthcare infrastructure in emerging economies such as India and China.
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