Parenteral Drugs Market By Product Type (Monoclonal Antibodies, Immunoglobulin, Cytokines, Insulin, Peptide Hormones, Blood Factors, Peptide Antibiotics), By Application
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 reach a staggering valuation of US $ 802Bn during the forecast period (2019 – 2029).
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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.
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
“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,
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.
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Jun 22, 2023