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Advanced Parenteral Drug Market Growth Prospects, Competitive Analysis, Trends and Forecast to 2032

Reports And Data

Reports And Data

increasing geriatric population, who are more susceptible to chronic diseases, is also driving the growth of the advanced parenteral drug market

NEW YORK CITY, NEW YORK , UNITED STATES, July 12, 2023/EINPresswire.com/ -- The global advanced parenteral drugs market, which are administered through injection, infusion, or implantation, was valued at USD 2.64 billion in 2022. It is projected to reach USD 4.6 billion by 2032, with a compound annual growth rate (CAGR) of 7.2% during the forecast period. The growth of this market is primarily fueled by the increasing prevalence of chronic diseases such as cancer, diabetes, and autoimmune disorders. These diseases require the use of advanced parenteral drugs due to their ability to provide rapid onset of action, targeted therapy, and improved patient outcomes.

Moreover, the expanding demand for biologics, which are complex molecules that cannot be taken orally, is also contributing to the growth of the advanced parenteral drug market. Biologics are utilized in the treatment of various conditions including cancer, autoimmune diseases, and rare genetic disorders. Administering biologics requires specialized manufacturing and storage conditions, as well as specific delivery systems, all of which contribute to the rising demand for advanced parenteral drug delivery methods.

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Advanced Parenteral Drug Market Segments:

The global market for advanced parenteral drugs can be segmented based on various factors. First, let's consider the dosage forms used in this market. Advanced parenteral drugs are available in different forms, including solutions, suspensions, emulsions, lyophilized (freeze-dried) formulations, and others.

Another important segment to consider is the route of administration. Advanced parenteral drugs can be administered through various routes, such as intravenous (IV), intramuscular (IM), subcutaneous (SC), and others. Each route offers specific benefits and considerations in terms of drug delivery and absorption.

In terms of application, advanced parenteral drugs find application in a wide range of medical conditions. These include infectious diseases, cancer, autoimmune disorders, and others. The usage of advanced parenteral drugs varies based on the specific disease or condition being treated.

The market for advanced parenteral drugs also has a regional scope. It encompasses North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Each region has its own unique market dynamics, regulatory frameworks, and healthcare infrastructure, which influence the adoption and demand for advanced parenteral drugs.

By analyzing these segments, market players can gain insights into the diverse aspects of the advanced parenteral drug market, including the different dosage forms, routes of administration, applications, and regional trends. This understanding can help inform strategic decision-making and product development efforts within the industry.

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Advanced Parenteral Drug Market Strategic Developments:

In 2021, Pfizer announced that it has completed the acquisition of Amplyx Pharmaceuticals, Inc., a privately held company focused on the development of therapies for debilitating and life-threatening diseases caused by fungal infections.

In 2020, Novartis International AG announced a strategic collaboration with Mesoblast Limited, a leading cellular medicines company, to develop and commercialize remestemcel-L for the treatment of acute respiratory distress syndrome (ARDS), which is associated with COVID-19.

In 2020, Sanofi S.A. acquired Principia Biopharma Inc., a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated diseases. The acquisition aimed to strengthen Sanofi's position in the autoimmune disease market.

Advanced Parenteral Drug Market Competitive landscape:

The global advanced parenteral drug market is highly competitive and characterized by the presence of several prominent players. These companies are continuously engaged in innovation and expanding their product portfolios through strategic partnerships, mergers and acquisitions, and the introduction of new products.
Here are some of the major companies operating in the advanced parenteral drug market:

Pfizer, Inc.: Pfizer is a leading global pharmaceutical company that develops and manufactures a wide range of advanced parenteral drugs. They have a strong presence in various therapeutic areas and are known for their expertise in drug delivery systems.

Novartis International AG: Novartis is a multinational pharmaceutical company involved in the research, development, and manufacturing of advanced parenteral drugs. They focus on areas such as oncology, immunology, and cardiovascular diseases.

Sanofi S.A.: Sanofi is a global healthcare company that produces advanced parenteral drugs for the treatment of various diseases, including diabetes, cardiovascular diseases, and rare genetic disorders. They are known for their expertise in biologics and innovative drug delivery systems.

AstraZeneca PLC: AstraZeneca is a multinational pharmaceutical company that specializes in the development of advanced parenteral drugs for the treatment of cancer, respiratory diseases, and cardiovascular conditions. They have a strong pipeline of innovative drugs.

GlaxoSmithKline PLC: GlaxoSmithKline is a leading pharmaceutical company known for its advanced parenteral drugs in areas such as respiratory, vaccines, and HIV. They focus on developing innovative treatments to improve patient outcomes.

Roche Holding AG: Roche is a global healthcare company that offers advanced parenteral drugs for various therapeutic areas, including oncology, immunology, and infectious diseases. They are known for their targeted therapies and personalized medicine approach.

Eli Lilly and Company: Eli Lilly is a renowned pharmaceutical company that develops and manufactures advanced parenteral drugs for the treatment of conditions such as diabetes, cancer, and neurodegenerative disorders. They are recognized for their expertise in biologics and insulin therapies.

Merck & Co., Inc.: Merck is a leading pharmaceutical company that offers advanced parenteral drugs for the treatment of cancer, infectious diseases, and chronic conditions. They are known for their strong research and development capabilities.

Baxter International Inc.: Baxter is a global healthcare company that specializes in advanced parenteral drug delivery systems and infusion therapies. They focus on providing innovative solutions for critical care, nutrition, and renal therapies.

AbbVie Inc.: AbbVie is a biopharmaceutical company that develops and markets advanced parenteral drugs for various therapeutic areas, including immunology, oncology, and neurology. They are known for their expertise in biologics and specialty medicines.

These companies play a crucial role in driving innovation, research, and development in the advanced parenteral drug market, ultimately contributing to the improvement of patient outcomes and the advancement of healthcare globally.

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