Injectable drug market to grow to $625 billion worldwide by 2021

pharmafile | March 23, 2017 | News story | Sales and Marketing injectable drugs, injectables 

New data released by intelligence firm MarketsandMarkets indicates that the global injectable drug market is set to reach $625 billion by 2021, up from $362 billion last year.

The report explains that the primary driving factor in this huge growth is the world’s ageing population and the increasing prevalence of chronic disease. In addition to this, the rise of biologics is also cited as an important factor.

The report proceeds to segment much of the injectables market. In terms of therapeutic application of injectable drugs, the market is divided into autoimmune diseases, orphan diseases, cancer, hormonal diseases and other treatments such as pain management, hepatitis C, allergies and haemophilia. Of these groups, cancer is, perhaps unsurprisingly, the leader expected to register the highest compound annual growth rate (CAGR) in the 2017-2021 period.

As far as formulation packaging is concerned, ampoules are expected to make the biggest impact in the forecast period due to the considerable production they provide versus their low cost. Considering growth in the market segment, ease of transportation and low manufacturing costs are expected to be the focal factors driving sector growth.  

Finally, on a geographic level, it is no surprise to see that North America is expected to by the leading force in the market’s development. Again, the increasing prevalence of chronic disease is mentioned as a key factor in this region, in addition to the high number of collaborations fostering high-quality products. On a worldwide level, an overall increase in disposable income, increasing safety awareness and the growing number of industry partnerships are also noted to be influential.

Matt Fellows

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