January 15, 2020 PR-M01-20-NI-023
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. 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
“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 report 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,
These insights are based on a report on Parenteral Drugs Market by Fact.MR.
E-mail: Nikhil.kumar@Fact.MR.com
Web: www.factmr.com
Nice Insight, established in 2010, is the research division of That’s Nice, A Science Agency, providing data and analysis from proprietary annual surveys, custom primary qualitative and quantitative research as well as extensive secondary research. Current annual surveys include The Nice Insight Contract Development & Manufacturing (CDMO/CMO), Survey The Nice Insight Contract Research - Preclinical and Clinical (CRO) Survey, The Nice Insight Pharmaceutical Equipment Survey, and The Nice Insight Pharmaceutical Excipients Survey.
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