Parenteral Drug Market
Parenteral Drug Market Study by Monoclonal Antibodies, Immunoglobulin, Cytokines, Peptide Hormones, Blood Factors, Vaccines, Small Molecule Antibiotics, and Chemotherapy Agents from 2024 to 2034
Analysis of Parenteral Drug Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Parenteral Drug Market Outlook (2024 to 2034)
Revenue in the global parenteral drug market, according to an updated Fact.MR report, is projected to reach US$ 595.63 billion in 2024. Worldwide sales of parenteral drugs have been forecasted to rise at a CAGR of 5.5% and climb to US$ 1,020.17 billion by 2034-end.
Several parenteral drug manufacturers are incorporating single-use strategies for proteins, antibodies, vaccines, cell therapy, and gene therapy. The United States FDA is recommending the use of automation in the production of more pharmaceuticals. Moreover, growing expenditure on pharmaceutical drugs is offering opportunities for market players to develop large-molecule drugs.
There is a rising demand for parenteral administration according to the drug proportion in the pipeline. This is owing to the rising consumption of biologic drugs globally. Several biologic drugs are presently available in injectable forms, thereby increasing the count of parenteral drugs in the pipeline, which is further generating lucrative opportunities for market players. Growing demand for monoclonal antibodies is due to the rising incidences of FDA approvals for products, which is further contributing to parenteral drug market trends.
- Worldwide demand for parenteral drugs for use in oncology is evaluated to increase at a CAGR of 8.3% and reach a market value of US$ 233.09 billion by the end of 2034.
- Global sales of large molecules-based parenteral drugs are projected to rise at 6.5% CAGR and reach US$ 696.42 billion by 2034-end.
- The market in Japan is analyzed to advance at a CAGR of 2.3% through 2034.
- Retail pharmacies are expected to capture 37.4% market share by the end of 2034.
- Sales of parenteral drugs in South Korea are projected to rise at 7% CAGR through 2034.
- South Asia & Pacific is forecasted to account for 22.9% of the global parenteral drug market share by 2034-end.
| Report Attribute | Detail |
|---|---|
| Parenteral Drug Market Size (2024E) | US$ 595.63 Billion |
| Forecasted Market Value (2034F) | US$ 1,020.17 Billion |
| Global Market Growth Rate (2024 to 2034) | 5.5% CAGR |
| China Market Growth Rate (2024 to 2034) | 9.4% CAGR |
| North America Market Share (2034F) | 33.6% |
| Market Share of Monoclonal Antibodies (2034F) | 22% |
| Key Companies Profiled | Merck & Co Inc.; Pfizer Inc.; Teva Pharmaceutical Industries Ltd.; Novartis AG; Sanofi S.A.; Sun Pharma; Cipla; AstraZeneca; Johnson & Johnson; Pfizer; AbbVie. |
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Why Will Parenteral Drugs Always Remain Key in Disease Treatment?
“Parenteral Drugs Facilitate Treatment with Quick Actions”
Increased demand for parenteral drugs is attributed to their suitability for patients in case medicines cannot be offered through the oral route. These drugs ensure a quick onset of action and are suitable for medicines that are inactivated by GIT (gastrointestinal tract). Moreover, the suitability of these drugs for patients in an unconscious state is also contributing to parenteral drug market growth.
Easy absorption of these medicines compared to oral medicines is contributing to a faster onset of actions. These medicines need not go through any digestive processes in the gastrointestinal tract, thereby having a different metabolism, subsequently resulting in stronger effects compared to oral medications.
How is Market Growth being Restrained to Some Extent?
“Lack of Automated and Cost-efficient Technology for Advanced Manufacturing Process”
Some of the leading market players are actively involved in new manufacturing techniques, which not only help in saving time but also money. However, a lack of automated as well as cost-effective automated technology for use in biologics is yet to be developed, which is somewhere limiting the expansion of the global parenteral drug market size.
“High Risk of Contamination with Parenteral Medications”
Orally administrated drugs in capsules and tablets form enter the intestine, which helps prevent microbial contaminants from entering into the bloodstream. Parenteral medications are injected, thereby delivered directly into the bloodstream and increasing the risks of contamination.
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How are New Companies Penetrating This Business Space?
“Increasing Inclination to Single-use Equipment in Drug Production”
New market players are emphasizing the production and maintenance of high-quality products. They are using single-use technology to maintain the quality of produced biological parenteral drugs. In addition, they are also constantly putting efforts into incorporating QbD (Quality by Design) in their procedures, which is helping them ensure the consistent delivery of several high-quality products.
Country-wise Insights
North America is expected to account for 33.6% share of global market revenue by 2034, as revealed in the industry analysis published by Fact.MR, a market research and competitive intelligence provider. Some of the leading market players are investing significantly in advancements and modernization of facilities and innovative approaches for the development of parenteral drugs in the region. These will further aid healthcare providers in offering more effective facilities.
How is the Market for Parenteral Drugs Faring in the United States?
“Biopharma and Pharma Companies Enhancing Program Development Efforts”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 184.5 Billion |
| Growth Rate (2024 to 2034) | 4.9% CAGR |
| Projected Value (2034F) | US$ 296.97 Billion |
The United States is analyzed to hold 84.3% share of the North America market by the end of 2034. More biopharma and pharma companies are focusing on program development and manufacturing to match the surging demand for parenteral products. Intensifying regulatory frameworks are pushing the use of isolator technology to reduce potential risks associated with patients’ safety and expand the application scope of these drugs.
Why are Manufacturers of Parenteral Drugs Thriving in South Korea?
“High Spending on Healthcare and Related Facilities in the Country”
| Attribute | South Korea |
|---|---|
| Market Value (2024E) | US$ 25.18 Billion |
| Growth Rate (2024 to 2034) | 7% CAGR |
| Projected Value (2034F) | US$ 49.4 Billion |
South Korea is evaluated to account for 23.3% share of the East Asia market by 2034-end. There has been a noteworthy increase in the expenditure on ensuring access to more advanced pharmaceutical facilities. Market players need to scale up with the launch of new and more advanced parenteral drugs. In addition, increased expenditure by more individuals on healthcare facilities is also stimulating market players to offer more advanced facilities.
Which Factors are Paving the Way for Parenteral Drug Providers in India?
“Adoption of New Treatments and Offset of Patent Lifecycles”
| Attribute | India |
|---|---|
| Market Value (2024E) | US$ 30.73 Billion |
| Growth Rate (2024 to 2034) | 9.7% CAGR |
| Projected Value (2034F) | US$ 77.54 Billion |
India is forecasted to hold 60.5% share of South Asia & Pacific market revenue by the end of 2034. New treatment methods are incorporated by healthcare professionals along with offset of patent lifecycles. Fierce competition from generic biosimilars and generics is stimulating market players to increase their expenditure on the development of novel medicines, which is further widening opportunities for market players.
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Category-wise Insights
Based on product type, worldwide demand for monoclonal antibodies is projected to increase at a 6.9% CAGR and reach a value of US$ 224.1 billion by 2034. These antibodies are used for restoring, enhancing, and modifying the immune attack, such as cancer cells.
Worldwide sales of parenteral drugs through retail pharmacies are projected to rise at a CAGR of 6.5% and reach US$ 381.79 billion by the end of 2034. These pharmacies ensure ease of access to drugs to the general public. These licensed stores are becoming more popular among healthcare providers for their authenticity or reliability.
Where is Use of Parenteral Drugs Extremely High?
“Parenteral Drugs Key Treatment Option for Cancer”
| Attribute | Oncology |
|---|---|
| Segment Value (2024E) | US$ 104.77 Billion |
| Growth Rate (2024 to 2034) | 8.3% CAGR |
| Projected Value (2034F) | US$ 233.09 Billion |
Oncology is evaluated to contribute 22.8% of the market share by the end of 2034. Oncology is a therapeutic area, which contributes to becoming a rich source of drug targets due to the incredible genotypic and phenotypic variations generally found among several types of cancer patients globally. These parenteral drugs help in preventing the spread of cancer to other human body parts, thereby slowing down cancer growth.
Which Parenteral Drugs Molecule Type is Gaining Prominence Globally?
“Biocompatible Nature of Parenteral Drugs Based on Large Molecules”
| Attribute | Large Molecules |
|---|---|
| Market Value (2024E) | US$ 370.75 Billion |
| Growth Rate (2024 to 2034) | 6.5% CAGR |
| Projected Value (2034F) | US$ 696.42 Billion |
Large molecule-based parenteral drugs are projected to occupy a share of 68.3% of the global market by 2034-end. An upward movement of large molecule drugs is attributed to their use in biological injectable preparations, which are further administered for treating several diseases, such as diabetes, blood disease, and cancer. The biocompatible nature of these large molecules is making them a popular option used in the pharmaceutical industry.
Competitive Landscape
Key players in the parenteral drug industry are consolidating their current manufacturing capabilities to capture a larger share of the global market. They are actively focusing on establishing new facilities and geographical expansions to target markets.
For instance :
- Merck & Co., Inc. is an American MNC headquartered in Rahway, New Jersey. The company is actively involved in the development of vaccines, medicines, parenteral drugs, animal health products, and biological therapies.
Fact.MR provides detailed information about the price points of leading manufacturers of parenteral drugs positioned across the world, sales growth, production capacity, and speculative technological expansion, in this updated market report.
Segmentation of Parenteral Drug Market Research
-
By Product Type :
- Monoclonal Antibodies
- Immunoglobulin
- Cytokines
- Insulin
- Blood Factors
- Peptide Hormones
- Vaccines
- Small Molecule Antibiotics
- Chemotherapy Agents
-
By Application :
- Oncology
- Infectious Diseases
- Diabetes
- Autoimmune Disorders
- Hormonal Disorders
- Musculoskeletal Disorders
- CNS Diseases
- Pain Management
- Cardiovascular Diseases
-
By Molecular Type :
- Small
- Large
-
By Route of Administration :
- Intravenous (IV)
- Intramuscular (IM
- Subcutaneous (SC)
-
By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- MEA
- FAQs -
What is the market valuation of parenteral drugs in 2024?
The global parenteral drug market is projected to reach US$ 595.63 billion in 2024.
What are the sales projections for parenteral drugs by 2034?
Worldwide sales of parenteral drugs are forecasted to climb to US$ 1,020.17 billion by 2034.
At what rate is the global market approximated to expand?
The market for parenteral drugs is forecasted to advance at 5.5% CAGR from 2024 to 2034.
How much share of the global market is North America projected to hold?
North America is analyzed to hold a market share of 33.6% by 2034.
At what CAGR is the demand for parenteral drugs set to increase in South Korea?
The market for parenteral drugs in South Korea is projected to increase at a CAGR of 7% through 2034.
What is the market scenario for the oncology segment?
Revenue from parenteral drugs used in oncology is forecasted to rise at 8.3% CAGR and reach US$ 233.09 billion by 2034.
Who are some of the leading manufacturers of parenteral drugs?
Merck & Co Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, and Sanofi S.A. are some key market players.
What is parenteral in the pharmaceutical industry?
Parenteral preparations are defined as suspensions, solutions, and emulsions for infusion or injection, gels for implants, and injections used for administration of the human body.
Parenteral Drug Market