Aug 26, 2024

The market for parenteral drugs is projected to reach a value of US$ 1,020.17 billion by 2034-end. Global sales of monoclonal antibodies are projected to rise at a CAGR of 6.9% and reach US$ 224.1 billion by 2034. North America is evaluated to account for a share of 33.6% of the global market by 2034. Worldwide sales of parenteral drugs through retail pharmacies are forecasted to rise at 6.5% CAGR and reach US$ 381.79 billion by 2034-end. Sales of parenteral drugs in South Korea are evaluated to climb at 7% CAGR through 2034. Demand for parenteral drugs for use in oncology is forecasted to increase at a CAGR of 8.3% and reach a market value of US$ 233.09 billion by 2034. The market in China is forecasted to expand at a CAGR of 9.4% through 2034. “Investments in the incorporation of QbD (Quality by Design) in the pharmaceutical development process is expected to help market players ensure a consistent delivery of high-quality parenteral drugs,” says a Fact.MR analyst. Leading Players Driving Innovation in Parenteral Drug Market: Some of the leading manufacturers of parenteral drugs are Merck & Co. Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, and Sanofi S.A. Implementation of Rigorous Regulations Driving Adoption of Isolator Technology in United States: Demand for parenteral drugs in the United States is forecasted to increase at a CAGR of 4.9% and reach a market value of US$ 296.97 billion by the end of 2034. Several biopharma and pharma companies in the country are coming up with more advanced technologies to match the increasing requirements for parenteral drugs. In addition, the implementation of a stringent framework is also pushing the incorporation of isolator technology for minimizing potential risks to patients’ safety and further expanding the application scope. Parenteral Drug Market News: 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. Get Customization on this Report for Specific Research Solutions: More Valuable Insights on Offer: Fact.MR, in its new offering, presents an unbiased analysis of the parenteral drug market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034). The study divulges essential insights into the market based on product type (monoclonal antibodies, immunoglobulin, cytokines, insulin, blood factors, peptide hormones, vaccines, small molecule antibiotics, chemotherapy agents), application (oncology, infectious diseases, diabetes, autoimmune disorders, hormonal disorders, musculoskeletal disorders, CNS diseases, pain management, cardiovascular diseases), molecular type (small, large), route of administration (intravenous [IV], intramuscular [IM], subcutaneous [SC]), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, online pharmacies), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA). 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These dual and triple therapies are under clinical trials. Depression Drugs Market-  reached a valuation of around US$ 13 Bn in 2020, which amounts to close to 50% share of the psychotropic drugs market. About Us: Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. 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