The global injectable drug market is poised for significant growth, with an estimated valuation of approximately USD 5,97,980.6 million in 2024. According to recent projections, the market is expected to expand at a robust compound annual growth rate (CAGR) of 5.8% during the forecast period, ultimately reaching a value of USD 991.63 billion by 2034.
Market Insights
The injectable drug market has been experiencing a transformative phase, driven by several key factors, including the increasing prevalence of chronic diseases, the rising demand for biologics, and the growing emphasis on advanced drug delivery systems. Injectable drugs, known for their rapid onset of action and effective therapeutic outcomes, are becoming increasingly popular among healthcare providers and patients alike.
Key Drivers of Market Growth:
- Rising Incidence of Chronic Diseases: The increasing prevalence of chronic conditions such as diabetes, cancer, and autoimmune disorders is driving the demand for injectable therapies. As the global population ages, the need for effective treatment options is expected to surge.
- Advancements in Biologics: The growth of the biologics market, which often requires injectable delivery, is a significant contributor to the expansion of the injectable drug market. Innovative therapies targeting specific diseases are paving the way for more personalized and effective treatments.
- Technological Innovations in Drug Delivery: Ongoing advancements in drug delivery technologies, such as prefilled syringes, auto-injectors, and needle-free delivery systems, are enhancing the convenience and efficacy of injectable drugs, further propelling market growth.
The injectable drug market’s future appears promising, with continued investments in research and development aimed at improving existing therapies and developing new ones. As the healthcare landscape evolves, the demand for injectable drugs is expected to remain strong, making it a crucial segment of the pharmaceutical industry.
Demand for related treatments is increasing, as people are now more aware of the right treatment options, doctor-guided plans, and precautionary measures to consider for serious clinical conditions.
Key players in the injectable drugs market are actively seeking to gain approvals from regulatory bodies, and develop products across the continuum of care in severe case recovery. Furthermore, the FDA is expected to approve new devices related to advanced injectable drugs and their administration, over the coming years.
“Increasing incidence of infectious diseases, oncological diseases, cardiac disorders and device innovation are prompting healthcare providers to incorporate new treatment regimens for improved patient outcome,” says an FMI analyst.
Key Takeaways:
- By product, monoclonal antibodies held the largest share of 5% in the global market in 2021.
- Based on application, infectious diseases segment held the largest share of 4% in the global market in 2021, with the segment expected to expand at 5.7% CAGR over the forecast period.
- In terms of molecule, large molecule segment held the largest share of 8% in the global market in 2021.
- By route of administration, sales in the intravenous (IV) segment are expected to increase at a 3% CAGR over the assessment period.
- Based on distribution channel, the hospital pharmacies segment was valued at US$ 231.0 Bn in 2021.
- North America held the largest share of 5% in the global injectable drugs treatment market in 2021, owing to the growing government investments in healthcare and R&D activities.
Competitive Landscape
Product launches and collaborations with suppliers that have a strong position and are popular in the market are some of the key strategies of the market players operating in the global injectable drugs market. For instance:
- Merck and Gilead Sciences, Inc. (Gilead) signed an agreement in March 2021 to collaborate on the development and commercialization of long-acting HIV treatments that combine Merck’s investigational nucleoside reverse transcriptase translocation inhibitor islatravir and Gilead’s investigational capsid inhibitor lenacapavir.
- In March 2022, Sanofi IGM Biosciences, Inc. today announced the signing of an exclusive worldwide collaboration agreement to create, develop, manufacture, and commercialize IgM antibody agonists against three oncology targets and three immunology/inflammation targets. Engineered IgM antibodies represent a new class of potential therapeutics that combine the multi-valency of IgM antibodies possessing 10 binding sites compared to conventional IgG antibodies having only 2 target binding sites.
- In February 2022, Novartis India Limited extends access to its medicines in India by signing exclusive sales and distribution agreement with Dr. Reddy’s Laboratories
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the injectable drugs market in its latest study, presenting a historical demand assessment of 2014 – 2021 and projections for 2022 – 2032.
The research study is based on the product – (monoclonal antibodies, immunoglobulin, cytokines, insulin, peptide hormones, blood factors, peptide antibiotics, vaccines, small molecule antibiotics, chemotherapy agents, and others), by application (oncology, infectious diseases, diabetes, blood disorders, hormonal disorders, musculoskeletal disorders, CNS diseases, pain management, and cardiovascular diseases), by molecule type (small molecules and large molecules), by route of administration (intravenous (IV), intramuscular (IM), and subcutaneous (SC)), by distribution channel (hospital pharmacies, retail pharmacies, drug stores, and online pharmacies), across seven key regions of the world.
Key Players :
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Sanofi S.A.
- Sun Pharmaceutical Industries Ltd.
- AstraZeneca Plc
- Merck & Co., Inc.
- Viatris + Mylan N.V
- Cipla Inc.
- Dr. Reddy’s Laboratories Ltd.
- Samsung Biologics
- Abbott Laboratories
- Amgen Incorporated
- Baxter International Incorporated
- Becton Dickinson and Company
- Bristol-Myers Squibb Company
- GlaxoSmithKline Plc
- Roche Holding Limited
Key Segments Covered in Injectable Drugs Industry Research
By Product:
- Monoclonal Antibodies
- Immunoglobulin
- Cytokines
- Insulin
- Peptide Hormones
- Blood Factors
- Peptide Antibiotics
- Vaccines
- Small Molecule Antibiotics
- Chemotherapy Agents
- Others
By Application:
- Oncology
- Infectious Diseases
- Diabetes
- Blood disorders
- Hormonal Disorders
- Musculoskeletal Disorders
- CNS Diseases
- Pain Management
- Cardiovascular Diseases
By Molecule Type:
- Small Molecules
- Large Molecules
By Route of Administration:
- Intravenous (IV)
- Intramuscular (IM)
- Subcutaneous (SC)
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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