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Injectable Drugs Market: By Product (Freeze dried products and Injectable sterile products), By Packaging (Ampules, Vials, Cartridges, and Bottles), By Device Type (Conventional injectable, Prefilled syringes, Auto-injectors, Pen injectors and Variable injectors), And Region - Global Analysis of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
Global Injectable Drugs to surpass USD 2,008.7 billion by 2031 from USD 621.7 billion in 2021 at a CAGR of 12.4% in the coming years, i.e., 2021-31.
Initially, pharmaceuticals were only available in the shape of tablets, pills, or capsules, but today's drugs are administered via a more technologically advanced and intelligent system. These systems are designed to deliver medications to specific target sites which would otherwise be hard to reach through the circulatory system. Patients who require medications on a daily basis prefer modern procedures to traditional injection devices. As a result, the growing need for efficient and convenient injectable drug delivery systems presents a profitable potential for manufacturers to build complex, user-friendly, and efficacious devices.
Global Injectable Drugs market is expected to project a notable CAGR of 12.4% in 2031.
Global Injectable Drugs to surpass USD 2,008.7 billion by 2031 from USD 621.7 billion in 2021 at a CAGR of 12.4% in the coming years, i.e., 2021-31. The growing usage of biologics, the increase in the incidence of chronic diseases, the rise in the occurrence of needle sticks, as well as the benefits of injection are all contributing to the market's growth (convenience, easy to use, & reduced pain). Safety syringes, prefilled syringe, and auto injectors have all seen a rise in demand as a result of these issues.
Global Injectable Drugs Market: SegmentsConventional injectable segment to grow with the highest CAGR during 2021-31
The global market is divided into five sectors based on device type: conventional injectable, prefilled syringes, auto-injectors, pen injectors, and variable injectors. The Conventional injectable segment led the global market, leading to higher purchases of traditional syringes as a result of increased hospitalization, rising prevalence of common infectious diseases that necessitates hospitalization, and increasing number of operations worldwide. Stopping the growing number of immunization campaigns around the world will also help this segment thrive.
Injectable sterile products segment to grow with the highest CAGR during 2021-31
Based on product type, the market is segmented into freeze dried products and injectable sterile products. With its quality assurance & storability, the injectable sterile product category is the market leader. During surgeries and the treatment of difficult disorders, surgeons choose sterile products in hospitals and clinics. Injectable are sterile and pathogen-free, posing a lesser risk of infection, further extending the market for this segment.
Market DynamicsIncreasing Patient demand, reusable syringes & devices
Traditional medicine delivery vials and syringes are prone to dozing & handling errors, as well as an increased risk of infection. Alternatively, prefilled syringes as well as reusable glass surrenders are a safe and very effective form of medication delivery to the body, this can be reduced. The global expansion of the market is being fueled by increasing patient interest and awareness in a convenient and minimally invasive injectable drug delivery system. In addition, the worldwide injectable medication market is growing due to the emergence of low-cost systems that are effective, effective, on-target delivery, and convenient.
Consistent R&D to launch breakthrough products
The drug delivery sector is heavily influenced by technological advancements. Bioscience, for example, has announced that it would begin testing its dehydra technique to combat covid-19. A multifunctional plastic vial & syringe are also included, which have many qualities such as good oxygen barrier, UV barrier, and other properties. As a result, rising R&D spending and the development of improved products by manufacturers are likely to propel the market forward.
Devices and active therapy have a high cost
Despite the fact that chronic illnesses such as hormonal & auto immune disorders are becoming more common around the world, several issues are limiting the market's growth. The high cost of modern injectable treatments, as well as the limited reimbursement of these medications in emerging countries, are examples of this. In addition, the lack of suitable reimbursement rules, particularly in emerging nations, has hampered product and device acceptance. Out-of-pocket costs account for a large amount of overall treatment costs in emerging countries, further limiting the adoption of modern devices for the management of different diseases.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Injectable Drugs market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America has the largest market size. In North America, increased acceptance of novel injectable drug technologies amongst diabetes, cancer, and other auto immune condition patients is a primary driver of regional market growth. Furthermore, the convenience and therapeutic properties of these injectables are driving demand, allowing North America to capture the largest share of the global market. The market in This Region is growing due to an increase in the prevalence of diabetes & cancer patients.
The covid-19 epidemic has had both beneficial and negative consequences for the healthcare business. Due to the growing number of covered 19 patients, hospital systems are overworked, putting a strain on the availability of medical supplies for every patient as well as facility. Rising demand for medical goods such as injections, prefilled syringes, and other items, manufacturers have increased their borrowing auction capacity to satisfy the demand supply ratio.
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Report Attribute |
Details |
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Market size value in 2021 |
USD 621.7 billion |
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Revenue forecast in 2031 |
USD 2,008.7 billion |
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Growth Rate |
CAGR of 12.4% from 2021 to 2031 |
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Base year for estimation |
2020 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product, Packaging, Device Type and Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key companies profiled |
Baxter International Inc., Sanofi, Pfizer Inc., GlaxoSmithKline plc., AstraZeneca, GILEAD SCIENCES, INC., Merck & Co., Inc., Novartis AG, Inc., Nova Nordisk A/S and Other Prominent Players. |
Injectable Drugs market size was estimated at USD 621.7 billion in 2021 and is expected to reach USD 2,008.7 billion in 2031.
Initially, pharmaceuticals were only available in the shape of tablets, pills, or capsules, but today's drugs are administered via a more technologically advanced and intelligent system. These systems are designed to deliver medications to specific target sites which would otherwise be hard to reach through the circulatory system.
Injectable sterile products and Conventional Injectors segment accounted for the largest Injectable Drugs market share.
Key players: Baxter International Inc., Sanofi, Pfizer Inc., GlaxoSmithKline plc., AstraZeneca, GILEAD SCIENCES, INC., Merck & Co., Inc., Novartis AG, Nova Nordisk A/S are the key players in the Injectable Drugs market.
The industry's growth is being fueled by the Increasing Patient demand, reusable syringes & devices and Consistent R&D to launch breakthrough products.
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