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Injectable Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

·5-min read

The injectable drugs market is expected to register a CAGR of nearly 11. 1 % during the forecast period. Currently, big pharma giants are seeking collaborations and approvals to come up with a vaccine in the market space, to prevent the spread of COVID-19 as soon as possible.

New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Injectable Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06192772/?utm_source=GNW
These vaccines are majorly given in the injectable form, which is driving the market growth. For instance, in May 2020, AstraZeneca received funding of more than USD 1 billion from the United States Health Department’s Biomedical Advanced Research and Development Authority (BARDA) for the development, production, and delivery of the University of Oxford’s COVID-19 vaccine.

With an increase in the number of chronic diseases like cardiovascular disorders, diabetes, and cancer, the demand for injectable drugs has risen significantly in the market.

In the recent past, biologics are becoming an increasingly important aspect of therapies in various diseases and are driving the forces of the pharmaceutical industry. The prefilled syringes have gained substantial acceptance as delivery systems for injectable drugs and biologics in the treatment of chronic diseases. Their ease of administration and the greater level of safety and efficacy has increased the competition among the leading companies of injectable drugs. The market players are focusing on product launches and coming up with novel products. For instance, in April 2019, Sun Pharmaceutical Industries launched INFUGEM injection, used for the treatment of cancer, in the United States Market after receiving approval from the United States health regulatory bodies.

With the need for more convenient drug-delivery methods, they are becoming the fastest-growing choices for unit dose medication (minimizing dosing error), to reduce the drug waste and increase the product life span.

The prefilled syringes have gained utilization across a wide range of therapeutic areas, such as blood stimulants, therapeutic proteins, and vaccines. With the rapid growth of emerging markets, coupled with a surging patient pool there is an increasing demand for patient-friendly parenteral delivery systems. Thus, over the forecast period, a wide expansion of prefilled syringes is expected across the world. This is expected to drive the demand for the injectable drugs market.

Key Market Trends

Oncology is Expected to Have Significant Market Share

The global cancer burden is increasing, and thus, cancer therapies must be modified according to regional and national priorities. As per the International Agency for Research on Cancer (IARC), in December 2020, globally, 1 in 5 people develop cancer during their lifetime, and 1 in 8 men and 1 in 11 women die from the disease. The IARC estimated that in 2020, the prevalence of cancer rose to 19.3 million cases and 10 million cancer deaths in the year 2020, which was around 18 million cancer cases around the world in 2018. The cancer burden differs by region. Almost half of the cancer prevalence occurs in Asia, and in Europe, one-quarter of the population is suffering from cancer.

As per the 2020 report of cancer released by the Joint Research Centre (JRC) of the European Commission, in Europe, around 2.7 million new cancer cases and 1.3 million deaths were reported in 2020. With the increasing burden of various types of cancer, the market players are focusing on the launch of novel and innovative injectables. In 2019, Merck’s cancer therapy, Keytruda received approval from the United States Food and Drug Administration (FDA), as part of combination therapy for previously untreated patients with the most common type of kidney cancer. Thus, the increasing burden of cancer and the launch of novel products are expected to drive the market’s growth over the forecast period.

North America Region Holds the Largest Market Share of Injectable Drugs Market

North America dominates the Injectable Drugs market, owing to rapid developments in healthcare infrastructure, the presence of major players in the region, the launch of novel products, huge investments made in the research and development, and increased adoption of injectable form drugs in hospitals to treat different cancers. In October 2019, Premier Inc., a US-based healthcare improvement company, through its ProvideGx program, partnered with Amphastar Pharmaceuticals Inc. to supply healthcare providers phytonadione injection and emergency, pre-filled syringes of calcium chloride, epinephrine, sodium bicarbonate, atropine sulfate, dextrose, and lidocaine.

In addition, there is a huge burden of various disorders in this region which increases the demand for effective injectables. For instance, Alzheimer’s Association stated that in 2020, almost 6.2 million people age 65 and older are suffering from Alzheimer’s in the United States, Of these 3.8 million are women and 2.4 million are men. Alzheimer’s is a chronic disease and requires long-term medication, therefore this high burden of chronic diseases indicates that there is a huge demand of injectables drugs in this region. Furthermore, the expansion of different companies to increase their production capacities is also driving the North American injectable drugs market.

Competitive Landscape

The injectables drugs market is moderately competitive. The key players in this market include GlaxoSmithKline PLC, Baxter International, Inc., Amgen Inc. among others. Some of the major players in the market have consolidated partnerships for certain products that allow for ease of manufacturing and distribution. Furthermore, the expansion of different companies to increase their production capacities helps in increasing the overall market.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06192772/?utm_source=GNW

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