According to Fact MR’s recent market research, sales of Parenteral Drug to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Parenteral Drug market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth.
Digital Transformation in Healthcare Presenting Opportunities for Parenteral Drug Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Parenteral Drug market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Parenteral Drug market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Parenteral Drug
The report offers actionable and valuable market insights of Parenteral Drug. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Parenteral Drug Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Parenteral Drug, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Parenteral Drug Market.
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Key Segments of Parenteral Drugs Market
Fact.MR’s study on the parenteral drugs market offers information divided into six important segments— product type, application, molecule type, route of administration, distribution channel, and region.
This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
|Product Type||Monoclonal AntibodiesImmunoglobulinCytokinesInsulinPeptide HormonesBlood FactorsPeptide AntibioticsVaccinesSmall Molecule AntibioticsChemotherapy AgentsOthers|
|Application||OncologyInfectious DiseasesDiabetesBlood disordersHormonal DisordersMusculoskeletal DisordersCNS DiseasesPain ManagementCardiovascular Diseases|
|Molecule Type||Small MoleculesLarge Molecules|
|Route of Administration||Intravenous (IV)Intramuscular (IM)Subcutaneous (SC)|
|Distribution Channel||Hospital PharmaciesRetail PharmaciesDrug StoresOnline Pharmacies|
|Region||North AmericaLatin AmericaEuropeSouth AsiaEast AsiaOceaniaMiddle East & Africa|
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Self-administered drugs through pre-filled syringes offer opportunities to reduce consumer spending on caregiver fees. Furthermore, manufacturers are gaining sharper profit margins with the introduction of this drug delivery medium in their portfolio. On this backdrop, the global parenteral drugs market estimated at US$ 451 Bn in 2019, is projected to witness moderate growth during the forecast period (2019 – 2029).
Drugs for cancer are always short in supply in countries where the market is monopolistic and access to such medicines is dominated by a single player. The rising prevalence of chronic illnesses such as cancer, cardiovascular diseases, and diabetes, across the globe has been the prime revenue driver for parenteral drugs and this trend is not likely to abate any time in the foreseeable future.
Key Takeaways of Parenteral Drugs Market Study
- By product type, monoclonal antibodies segment accounts for maximum market share in terms of revenue in the parenteral drugs market. This is primarily attributed to the rising adoption of biologics and subsequent rise in the number of biologics approved for marketing.
- North America and Europe collectively hold over 60% of the parenteral drugs market share owing to the rise in new product launches in the regions.
- Hospital pharmacies segment is expected to be the dominant distribution channel in the parenteral drugs market.
- The parenteral drugs market is highly fragmented. Some of the prominent parenteral drug manufacturers include Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Sanofi S.A., Novartis AG, and Pfizer Inc., among many others.
“Patent expiration of branded products and fewer new product launches have resulted in the rise of generic versions of drugs, and in the emergence of a number of players in the market – this factor has intensified total parenteral drugs sales,” says a Fact.MR analyst.
Increased Research Funding to Drive Parenteral Drugs Market Growth
Research funding has surged significantly in recent years, which has resulted in an increase in the number of projects undertaken as well as newly employed personnel for the same. The funding for research comes from governments, private players, and other commercial entities. For instance,
- In 2017, the National Cancer Institute (NCI) received over US$ 5.6 billion for research initiatives, which reflects a 7% increase as compared to 2016.
- Similarly, in 2018, in the U.S., the Omnibus Appropriations bill that provided additional funding of US$ 3 billion for the NIH (National Institutes of Health) was passed, which is the highest increase in NIH funding in the past 15 years. This boost in funding, which brings the total NIH investment to US$ 37.1 billion for FY 2018, is expected to speed up cancer research in the coming years.
- The expected trend indicates a significant rise in NIH funding in the fiscal year 2017 – 2018. In the future, investments in R&D are likely to increase in all countries across the world, especially in countries such as China and Brazil.
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Report Benefits & Key Questions Answered
- Parenteral Drug Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Parenteral Drug Historical volume analysis: The report provides a comparison of Parenteral Drug’s historical sales and projected sales performance for 2021-2031.
- Parenteral Drug Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Parenteral Drug market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Parenteral Drug Consumption by demographics: The report investigates consumer behavior affecting Parenteral Drug demand outlook for the assessment period. Effect of their keenness for digital trends on Parenteral Drug market is carefully analyzed
- Post COVID consumer spending on Parenteral Drug: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Parenteral Drug market growth.
More Valuable Insights on Parenteral Drug Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Parenteral Drug, Sales and Demand of Parenteral Drug, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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