Injectable Drugs Market Trends

Statistics for the 2023 & 2024 Injectable Drugs market trends, created by Mordor Intelligence™ Industry Reports. Injectable Drugs trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Injectable Drugs Industry

This section covers the major market trends shaping the Injectable Drugs Market according to our research experts:

Oncology Is Expected to Have Significant Market Share During the Forecast Period

The oncology segment is expected to witness significant growth in the injectable drugs market over the forecast period, owing to factors such as the rising prevalence of cancer among the population and the development of advanced cancer drugs using bio-engineered methods. For instance, according to Globocan 2020, China reported 4,568,754 new cancer cases in 2020, and 9,294,006 cancer cases were prevalent for five years. Further, the same report projected that cancer cases will reach 5,811,629 by 2030 and 6,845,787 by 2040. Similarly, as per the same source, Japan reported 1,028,658 new cancer cases in 2020, and the total number of five-year prevalent cancer cases was 2,710,728. The same report projected the number of cancer cases to reach 1,110,549 by 2030 and 1,128,057 by 2040. Thus, the expected rise in the number of cancer cases among the population is projected to propel the demand for injectable cancer drugs, which, in turn, is anticipated to fuel market growth.

Furthermore, the rise in company activities and increasing product launches are also contributing to this segment's growth. For instance, in November 2022, the Food and Drug Administration approved tremelimumab in combination with durvalumab and platinum-based chemotherapy for adult patients with metastatic non-small cell lung cancer (NSCLC). Also, in May 2022, Gland Pharma launched Bortezomib injection, which is used to treat certain types of cancer, such as multiple myeloma and mantle cell lymphoma, in the United States.

Thus, the increasing burden of cancer and the launch of novel products are expected to drive the market's growth over the forecast period.

Injectable Drugs Market : Projected New Cancer Cases (in Million), Global, 2020-2040

North America Holds the Largest Market Share of the Injectable Drugs Market

North America is expected to dominate the injectable drugs market over the forecast period owing to the high prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, robust healthcare infrastructure, and major players in the region.

In addition, the increasing number of novel product launches, huge investments in R&D, and the increased adoption of injectable drugs in hospitals to treat different types of cancer are also contributing to the market growth in the region.

According to the American Cancer Society's 2022 report, over 1.9 million new cancer cases are expected to be recorded in the United States in 2022. Also, per the same source, cancer risk rises dramatically as one ages. In the United States, 80% of cancer patients are 55 years or older, with 57% being 65 years or older. Thus, the growing geriatric population is expected to impact the market studied significantly. Further, according to the International Diabetes Federation's report of December 2021, about 32.2 million people were living with diabetes in the United States. This number is estimated to increase to 36.3 million by 2045. This increase in the diabetes patient pool is expected to drive demand for injectable drugs, which will boost growth in the market.

With the growing demand for effective therapeutics for chronic diseases, company activities such as product launches, mergers and acquisitions, partnerships, and strategic collaborations are expected to augment growth in the market studied in the country. For instance, in May 2022, Roche launched PHESGO, a combination of Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase to treat breast cancer. Also, in February 2022, the United States Food and Drug Administration (FDA) approved Takeda's TAKHZYRO (lanadelumab-flyo) injection single-dose prefilled syringe (PFS) to prevent attacks of hereditary angioedema (HAE) in adult and pediatric patients 12 years of age and older.

Therefore, due to the factors mentioned above, the injectable drugs market is expected to grow in the region over the forecast period.

Injectable Drugs Market- Growth Rate by Region

Injectable Drugs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)