Parenteral Drugs Market By Product Type (Insulin, Monoclonal Antibodies, Cytokines, Peptide Hormones and Others), By Route of Administration (Subcutaneous, Intramuscular, Intravenous), By Application (Oncology, Diabetes, Cardiovascular Diseases, Blood Disorders and Others), By Distribution Channel (Hospital Pharmacies, Drug Stores, Online Pharmacies, Retail Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI513123 | Publish Date: March 2024 | No. of Pages: 170

Parenteral Drugs Market Overview

Parenteral Drugs Market was valued at US$ 490.5 Billion in 2024 and is projected to grow at a CAGR of 9.60% to reach US$ 1228 Billion by 2034.

Parenteral Drugs are the drugs given by route which is other than digestive tract by injection. Vaccines, insulin, antibiotics and opiod analgesics are some different examples of parenteral drugs.

Patient preference for injections over oral medication has contributed in market growth. Growing prevalence of diseases, effective properties of parenteral drugs and immediate relief as they are injected directly into vein in bloodstream has further driven the market growth. Growing strategic partnerships of companies and volume of drug approvals is expected to provide lucrative opportunities in Parenteral Drugs market growth in future.

Parenteral Drugs Market Drivers & Restraints

Growing investment in biological drugs and more approval of parenteral drugs to fuel market growth

Biological Drugs are made from living organisms to treat and diagnose the diseases. They include vaccines, interleukins and antibodies. Emerging pharmaceutical companies with lack of manufacturing facilities and growing need for biologics has powered the demand for contract manufacturing services which in turn fuel the target market growth. Further, more approvals for biologic drugs has provided lucrative opportunities in market growth. Contract Development Manufacturing Organizations (CDMO) are involved in production of parenteral drugs to reduce development timelines. Parenteral drug approval by FDA (Food and Drug Administration) and CDER (Center for Drug Evaluation and Research) has been increased over the last several years which has powered the market growth.

For instance, in 2022, FDA’s (Food and Drug Administration) Center for Drug Evaluation and Research (CDER) approved 28 novel drugs of 37 on first cycle. Mounjaro (tirzepatide) injection are used to improve glycemic control in people with type 2 diabetes disease. Pluvicto (lutetium 177 Lu vipiuvotide tetraxetan) injection used in treating prostate cancer in adults. Tzield (teplizumab-mzwv) injection is used to delay onset of stage 3 type 1 diabetes in pediatric and adult patients. Sunlenca (lenacapavir) injection and tablets are used for HIV patients.

Restrains of Parenteral Drugs Market:

However, huge investment required in manufacturing of parenteral drugs has hampered the demand for market growth. Further, risk of overdose and exposure to infection due to unsafe injection practices restrain the Parenteral Drugs Market growth.

Parenteral Drugs Market Segmentations & Regional Insights

Parenteral Drugs Market Segmentation

Parenteral Drugs Market is segmented based on Product Type, Route of Administration, Application, Distribution Channel and Region.

Product Type Insight

On the basis of Product Type, Parenteral Drugs Market is segmented into Insulin, Monoclonal Antibodies, Cytokines, Peptide Hormones and Others. Monoclonal Antibodies product type segment is expected to dominate the market growth. High number of product approvals by FDA (Food and Drug Administration) and expansion of product pipeline has boost the segment growth.

Route of Administration Insights

On the basis of Route of Administration, Parenteral Drugs Market is segmented into Subcutaneous, Intramuscular, Intravenous.

Application Insights

On the basis of Application, Parenteral Drugs Market is segmented into Oncology, Diabetes, Cardiovascular Diseases, Blood Disorders and Others. Oncology application segment is expected to dominate the target market growth. Growing prevalence of cancer diseases and use of parenteral drugs in oncology segment has boost the segment growth.

For instance, in 2020 according to CDC (Center for Disease Control and Prevention), around 1,603,844 new cancer cases were reported and about 602,347 of people were died of cancer diseases.

Distribution Channel Insights

On the basis of Distribution Channel, Parenteral Drugs Market is segmented into Hospital Pharmacies, Drug Stores, Online Pharmacies, Retail Pharmacies.

Regional Insights:

On region the Parenteral Drugs Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period. Moreover, rising prevalence of cancer disease, unhealthy diet, sedentary lifestyle, high disposable income, robust healthcare infrastructure, rising research & development activities, adoption of parenteral drugs is anticipated to increase demand for Parenteral Drugs in the region.

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Product Type - Insulin, Monoclonal Antibodies, Cytokines, Peptide Hormones and Others

By Route of Administration - Subcutaneous, Intramuscular, Intravenous

By Application - Oncology, Diabetes, Cardiovascular Diseases, Blood Disorders and Others

By Distribution Channel - Hospital Pharmacies, Drug Stores, Online Pharmacies, Retail Pharmacies

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Parenteral Drugs Market report based on Product Type, Route of Administration, Application, Distribution Channel and Region:

Parenteral Drugs Market, By Product Type:

  • Insulin
  • Monoclonal Antibodies
  • Cytokines
  • Peptide Hormones
  • Immunoglobulin
  • Vaccines
  • Blood Factors
  • Chemotherapy Agents
  • Small Molecule Antibiotics
  • Peptide Antibiotics
  • Others

Parenteral Drugs Market, By Route of Administration:

  • Subcutaneous
  • Intramuscular
  • Intravenous

Parenteral Drugs Market, By Application:

  • Oncology
  • Diabetes
  • Cardiovascular Diseases
  • Blood Disorders
  • Pain Management
  • Hormonal Disorders
  • Others

Parenteral Drugs Market, By Distribution Channel:

  • Hospital Pharmacies
  • Drug Stores
  • Online Pharmacies
  • Retail Pharmacies

Parenteral Drugs Market, By Region:

  • North America
    • Middle East & Africa
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Europe
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
      • U.S.
      • Canada

Parenteral Drugs Market Competitive Landscape & Key Players

The key players operating the Parenteral Drugs Market includes, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Pfizer Inc., Novartis AG, Sanofi S.A., Abbott, Beximco Pharma, Fresenius, Baxter Healthcare Corporation, Ostuka Pharmaceutical, and others.

Parenteral Drugs Market Recent News

  • In March 2022, Otsuka obtained approval for its ‘SAMTASU’ in Japan. The new developed SAMTASU intravenous infusion used for treating cardiac edema and has become a new treatment option for patients with fluid retention.
  • In September 2021, Baxter launched new ready to use cardiovascular medicine ‘Norepinephrine Bitartarate’ in 5% of Dextrose injection (norepinenephrine) used to raise blood pressure in patient with acute hypotension. Baxter new launched drug is available in United States.
  • In August 2020, U.S. FDA (Food and Drug Administration) approved new ‘Kesimpta’ (ofatumumab) injection developed by Novartis for subcutaneous use for treating multiple sclerosis (RMS). The new launched Kesimpta is designed to be self-administered at home by patients once monthly by an autoinjector pen Sensoready.

Parenteral Drugs Market Company Profile

  • Teva Pharmaceutical Industries Ltd.*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Merck & Co. Inc.
  • Pfizer Inc.
  • Novartis AG
  • Sanofi S.A.
  • Abbott
  • Beximco Pharma
  • Fresenius
  • Baxter Healthcare Corporation
  • Ostuka Pharmaceutical

“*” marked represents similar segmentation in other categories in the respective section

FAQs

The Parenteral Drugs Market is segmented into Product Type, Route of Administration, Application, Distribution Channel and Region.

Parenteral Drugs Market is driven by factors like growing investment in biologic drugs and more approval of parenteral drugs.

By region, the Parenteral Drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the Parenteral Drugs Market includes, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Pfizer Inc., Novartis AG, Sanofi S.A., Abbott, Beximco Pharma, Fresenius, Baxter Healthcare Corporation, Ostuka Pharmaceutical, and others.