The Parenteral Drugs Market Is Poised To Reach A Staggering Valuation Of US $ 802Bn By The End Of The 2029; States Fact.MR

Parenteral Drugs Market to Exhibit 6% CAGR, on Back of Surging Demand for Self-administered Drugs

Parenteral Drugs Market By Product Type (Monoclonal Antibodies, Immunoglobulin, Cytokines, Insulin, Peptide Hormones, Blood Factors, Peptide Antibiotics), By Application (Oncology, Infectious Diseases, Diabetes, Blood disorders & Others), By Region- Global Market Insights 2019 -2029

Fact.MR – A Market Research and Competitive Intelligence Provider: The global parenteral drug market is expected to register growth during the forecast period. A steady rise in the number of parenteral drug administration has led to an increase in demand for parenteral drug delivery devices.

Self-administered drugs through pre-filled syringes offer opportunities to reduce consumer spending on caregiver fees. Furthermore, manufacturers are gaining sharper profit margins with the introduction of this drug delivery medium in their portfolio. On this backdrop, the global parenteral drugs market estimated at US$ 451 Bn in 2019, is projected to witness moderate growth during the forecast period (2019 – 2029).

Parenteral drugs are pharmaceutical preparations given by any other route besides by mouth or anally. Any enteral preparation has to pass through the stomach and liver before being absorbed into the body and a sizeable part is destroyed or modified by these organs. Hence, parenteral preparations are made for drugs that should reach target organs in almost unchanged form. Also, the time to achieve therapeutic blood level reduces with these preparations.

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Drugs for cancer are always short in supply in countries where the market is monopolistic and access to such medicines is dominated by a single player. The rising prevalence of chronic illnesses such as cancer, cardiovascular diseases, and diabetes, across the globe has been the prime revenue driver for parenteral drugs and this trend is not likely to abate any time in the foreseeable future.

Key Takeaways of Parenteral Drugs Market Study

  • By product type, monoclonal antibodies segment accounts for maximum market share in terms of revenue in the parenteral drugs market. This is primarily attributed to the rising adoption of biologics and subsequent rise in the number of biologics approved for marketing.
  • North America and Europe collectively hold over 60% of the parenteral drugs market share owing to the rise in new product launches in the regions.
  • Hospital pharmacies segment is expected to be the dominant distribution channel in the parenteral drugs market.
  • The parenteral drugs market is highly fragmented. Some of the prominent parenteral drug manufacturers include Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Sanofi S.A., Novartis AG, and Pfizer Inc., among many others.

“Patent expiration of branded products and fewer new product launches have resulted in the rise of generic versions of drugs, and in the emergence of a number of players in the market – this factor has intensified total parenteral drugs sales,” says a Fact.MR analyst.

Increased Research Funding to Drive Parenteral Drugs Market Growth

Research funding has surged significantly in recent years, which has resulted in an increase in the number of projects undertaken as well as newly employed personnel for the same. The funding for research comes from governments, private players, and other commercial entities. For instance,

  • In 2017, the National Cancer Institute (NCI) received over US$ 5.6 billion for research initiatives, which reflects a 7% increase as compared to 2016.
  • Similarly, in 2018, in the U.S., the Omnibus Appropriations bill that provided additional funding of US$ 3 billion for the NIH (National Institutes of Health) was passed, which is the highest increase in NIH funding in the past 15 years. This boost in funding, which brings the total NIH investment to US$ 37.1 billion for FY 2018, is expected to speed up cancer research in the coming years.
  • The expected trend indicates a significant rise in NIH funding in the fiscal year 2017 – 2018. In the future, investments in R&D are likely to increase in all countries across the world, especially in countries such as China and Brazil.

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Key Segments of Parenteral Drugs Market

Fact.MR’s study on the parenteral drugs market offers information divided into six important segments— product type, application, molecule type, route of administration, distribution channel, and region.

This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Product Type –

  • Monoclonal Antibodies
  • Immunoglobulin
  • Cytokines
  • Insulin
  • Peptide Hormones
  • Blood Factors
  • Peptide Antibiotics
  • Vaccines
  • Small Molecule Antibiotics
  • Chemotherapy Agents
  • Others

Application -

  • Oncology
  • Infectious Diseases
  • Diabetes
  • Blood disorders
  • Hormonal Disorders
  • Musculoskeletal Disorders
  • CNS Diseases
  • Pain Management
  • Cardiovascular Diseases

Molecule Type –

  • Small Molecules
  • Large Molecules

Route of Administration -

  • Intravenous (IV)
  • Intramuscular (IM)
  • Subcutaneous (SC)

Distribution Channel –

  • Hospital Pharmacies
  • Retail Pharmacies
  • Drug Stores
  • Online Pharmacies

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