Global Pharmaceutical Injectables Market Size to Reach USD 2,096.91 Billion in 2032 | Emergen Research

Chronic diseases, technological advancements, and regional insights contribute to market growth. Get the full research report for detailed insights.

Vancouver, Nov. 13, 2023 (GLOBE NEWSWIRE) — The global pharmaceutical injectables market size was USD 698.97 Billion in 2022 and is expected to register a rapid revenue CAGR of 11.6% during the forecast period. Key factors fueling this growth include the increasing demand for biologics and self-injectable, substantial pharmaceutical expenditure, and a slew of new product launches in the pharmaceutical injectable sector. These injectable drugs, known for their efficiency in drug absorption and quick recovery times, are gaining popularity as the healthcare industry focuses on enhancing patient outcomes.

The rising prevalence of chronic diseases, including cardiovascular diseases, diabetes, and cancer, has become a driving force for the market’s revenue growth. In 2020, cancer alone accounted for approximately 10 million deaths, making it the leading cause of death worldwide. Cardiovascular diseases claimed an alarming 20.5 million lives in 2021, representing a third of all global fatalities. Innovations in medical treatments have also spurred market growth. Regulatory bodies like the United States Food and Drug Administration (USFDA) have fast-tracked the approval process for cutting-edge therapies, such as enzyme replacement therapy for alpha-mannosidosis and bio-engineered anti-cancer drugs. These advancements are expected to drive revenue growth in the coming years.

Technological progress in pharmaceutical injectable, exemplified by the acceptance of Biologics License Applications and the launch of new drugs for cancer treatment, is another key driver. These developments not only expand treatment options but also improve the overall healthcare landscape. However, the emergence of alternative routes of drug administration presents a challenge to market growth. These alternatives offer improved drug bioavailability and reduced side effects, which resonate with patients who may have a fear of needles.

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Volume-wise, the small volume parenteral segment dominated the global pharmaceutical injectables market in 2022. This is attributed to the increasing demand for small volume parenteral drugs and vaccines. AstraZeneca’s funding for vaccine development underscores the significance of this segment. In terms of route of administration, the intravenous (IV) segment is poised for moderately fast revenue growth due to the prevalence of chronic illnesses. Intramuscular administration is also on the rise, particularly in the context of vaccine administration, further propelling market growth.

End-use segments include hospitals, home care, clinics, and others. Hospitals are expected to experience steady revenue growth, driven by the growing number of patient admissions, especially for cancer-related treatments. Clinics, as cost-effective alternatives to hospital stays, are also expected to play a significant role in the market’s growth. Geographically, North America led the global pharmaceutical injectables market in 2022. The region’s strong healthcare infrastructure, a high prevalence of chronic illnesses, and the presence of major industry players contributed to its dominance. Notably, the United States saw significant advancements in breast cancer treatment and hereditary angioedema prevention.

The Asia Pacific market is poised to experience the fastest revenue growth rate due to the increasing prevalence of chronic illnesses, particularly diabetes and hypertension. India, in particular, is witnessing a surge in diabetes cases.

In Europe, rising awareness about pharmaceutical injectables is expected to drive considerable revenue growth. The European Commission’s Pharmaceutical Strategy for Europe, aimed at advancing innovation and addressing unmet healthcare needs, aligns with the ‘Europe’s Beating Cancer Plan,’ ensuring timely access to top-notch treatments and affordable cancer medications. The global pharmaceutical injectables market is witnessing substantial growth, driven by increasing demand, technological advancements, and the need for better patient outcomes. With the prevalence of chronic diseases on the rise and healthcare innovation at the forefront, the market’s promising trajectory is expected to continue in the coming years.

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Scope of Research

Major Companies and Competitive Landscape

The global pharmaceutical injectables market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pharmaceutical injectables solutions. Some major players included in the global pharmaceutical injectables market report are:

• BD
• Novo Nordisk A/S
• Amgen Inc.
• Baxter
• Gilead Sciences, Inc.
• GSK plc.
• Johnson & Johnson Private Limited
• Merck & Co., Inc.,
• Novartis AG
• Pfizer Inc.
• AbbVie Inc.
• Sanofi
• F. Hoffmann-La Roche Ltd

Strategic Development

• On 4 October, 2023, Advent International and Warburg Pincus successfully acquired Baxter International Inc.’s BioPharma Solutions (BPS) division. This business will now operate independently as Simtra BioPharma Solutions (‘Simtra‘), A Contract Development And Manufacturing Organization (CDMO). Simtra will continue to provide its customers with essential pharmaceutical supply solutions, ensuring the availability of critical pharmaceutical products globally.
• On 28 September 2023, the UK government allocated a grant of USD 1,696,444 to support Bacterial Vaccines Network (BactiVac), based at the University of Birmingham. This funding is intended to expedite the advancement of bacterial vaccines as a crucial measure in combatting Antimicrobial Resistance (AMR) and proactively preventing infections. This initiative is a significant contribution to the global effort to address the increasing challenge of antimicrobial resistance.

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For the purpose of this report, Emergen Research has segmented the global pharmaceutical injectables market on the basis of volume, route of administration, device type, end-use, and region:

• Volume Outlook (Revenue, USD Billion; 2019-2032)
  • Large volume parenteral
  • Small volume parenteral
• Route of Administration Outlook (Revenue, USD Billion; 2019-2032)
  • Intravenous
  • Intramuscular
  • Subcutaneous
• Device Type Outlook (Revenue, USD Billion; 2019-2032)
  • Conventional injectables
  • Pre-filled syringes
  • Pen-injector
  • Others
• End-use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Home care
  • Clinics
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Russia
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. ASEAN Countries
    6. Oceania
    7. Rest of APAC
  • Latin America
    1. Brazil
    2. Mexico
    3. Rest of LATAM
  • Middle East & Africa
    1. GCC Countries
    2. Israel
    3. Turkey
    4. South Africa
    5. Rest of Middle East & Africa

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