Injectable Drugs Market Is Projected to Grow at CAGR 8.23 % during the Forecast Period

Injectable Drugs Market

Global injectible drugs market is anticipated to reach USD 513.5 billion by 2024 from value USD 272.7 billion in 2016, growing at a CAGR of 8.23% during the forecast period of 2016 to 2024. North America is the dominating region in global injectible drugs market in 2016. Rising number of chronic health issues and increasing number of partnership between medical companies to provide high quality affordable drugs is boosting the demand of injectible drugs in U.S. and Canada. North America valued 109.1 billion in 2016 and is expected to reach USD 184.9 billion by 2024.
Based on segmentation, complex biologics holds the largest share nearly 60.0% of global injectible drugs market in 2016. Increase in number of new drugs rising demand for license approval for biologics and new drugs is accelerating the market of complex biologics segment. Vaccines and insulin segment is expected to witness notable growth with 20.0% and 10.0% share of injectible drugs market over the forecast period.

Major Players: Johnson & Johnson, Novartis AG, Merck & Co. Inc., Baxter International Inc., Sanofi, GlaxoSmithKline Plc., AstraZeneca, GILEAD SCIENCES, Inc., Nova Nordisk A/S, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical

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Asia-Pacific region is expected to be the fastest growing region in injectible drug market over the forecast period. Asia-Pacific region is expected to reach the value of USD 133.5 billion by the end of 2024, growing at a CAGR of 10.51 % over the forecast period. Rising health awareness and growing penetration of self injection technology in Japan, Singapore & China is boosting the demand of injectible drugs in the region. Increasing number of diabetes population in emerging economies such as India & China is expected to witness significant growth during the time period of 2016-2024.

Europe was the second largest region for injectible drugs market in 2015, owing to the popularity of self-injectible drug technology in the region. Growing demand of hormone replacement & cancer therapies are driving the adoption rate of injectible drugs in Italy, Germany, the UK, Spain and other European countries. Europe is the leading region in self injection technology due to low rate of penetration of pen injectors in North America region. Europe is projected to reach value USD 159.2 billion by 2024 from valued 87.3 billion in 2016.

Lack of proper medical facilities, low competition and less stringent regulatory framework related with approval on medical drugs and devices is anticipated to create attractive business opportunities for injectible drugs in Latin America & Middle East & Africa. Latin America & Middle East & Africa together held 7.0% market share in global injectible drug market in 2016. Saudi Arabia, Israel, Mexico, Brazil & Argentina are estimated to gain favorable opportunities for injectible drugs in the forecast years.

Market Overview:
Drugs which are introduced into body with syringe & needle as a medium is termed as injectible drugs. Among all the approved drugs by Food & Drug Administration (FDA) available in U.S., 97% of medications & vaccines are administered through injections. Top injectible drugs such as remicade, avastin neulasta, rituxan, etc. are most commonly used across the globe. In 2012, over 180,000 units of remicade were available per one million lives worldwide. Nowadays, increasing price of injectible biotech products is a challenge for every commercial player in the United Sates. In 2010, approval of several cancer therapies by FDA has driven the cost of injectible drugs up to 4.0%. However, injectible drugs used for cancer treatment accounted for more than 50.0% of benefits of medical injectible costs. Recent increase in commercial health plans is establishing attractive business opportunities for injectible drugs in Europe and North America region. In 2012, more than 60% of population in the United States received medical benefits, which is extensively raising the demand of injectible drugs in the region. Although, illegal use of injectible drugs is expected to hamper the adoption rate of injectible drugs across the globe. In 2012, Greece and the UK have 3.1% and nearly 10% of per 1000 population who were using injectible drugs illegally. Spain, UK, France and Italy has higher rate of abusing medical drugs as compared to other European countries. Moreover, the U.S. and Canada have nearly 3.0% of population aged above 12 years are illegally using medical injectible drugs. This is one of the major factors which are obstructing the injectible drugs market. However, stringent drugs polices is likely to reduce the illegitimate use of injectible drugs worldwide.
Acquisition and collaboration plays an important role in enabling business opportunities for injectible drugs. For instance, In July 2016, Lupin pharmaceutical acquired two medical companies of New Jersey worth USD 900 million. In the same year, InvaGen Pharmaceutical was acquired by Cipla for USD 550 million. In October 2016, India based company Piramal announced to buy 5 drugs for pain and anesthetic management from Johnson & Johnson by paying USD 155 million. Piramal holds a significant presence in global generic injectible drug market which valued USD 20 billion in 2016. These acquisitions and partnerships are expected to drive the growth of injectible drugs market during the time period of 2016-2024

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Market Drivers and Challenges
Rise in per capita drug spending, increase in personal disposable income and patient awareness are key factors to drive the growth of global injectible drugs market. Rising number of patients affected with chronic disease such as cancer and diabetes is likely to boost the demand for injectible drugs worldwide. Operational improvement, medical benefits and reimbursement policies are also driving the injectible drugs market.
Risk of re-operation or death, safety concerns of injectible drugs and less patient compliance is restraining the expansion of injectible drugs market

By Geography
o North America (US, Canada) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World

REASONS TO PURCHASE THIS REPORT

  • Identify the drivers, restraints, and opportunity possessed by the global Injectable Drugs market with in-depth analysis.
  • Analyze the various perspectives of the global market dynamics with the help of Porters five forces analysis.
  • Identify the most dominating type of service and application with forecasted market estimate for the global Injectable Drugs market.
  • Identify the largest, fastest growing, and significant regions during the forecast period with in-depth analysis.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet (in excel).

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Dr Nancy Miller

Dr Nancy Miller has over 20 years experience as a educator and health practitioner. She has a B.S. from Lake Head University In Thunder Bay, and a Ph.D. in biology from the University of Guelph . Dr. Miller has worked as a special medical consultant for a major insurance provider before becoming a freelance health author and public speaker. There are several ways to contact Dr. Miller here.

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