Global Parenteral Drugs Market: Overview

Parenteral drugs are pharmaceutical preparations given by any other route besides by mouth or anally. Any enteral preparation has to pass through the stomach and liver before being absorbed into the body and a sizeable part is destroyed or modified by these organs. Hence, parenteral preparations are made for drugs that should reach target organs in almost unchanged form. Also, the time to achieve therapeutic blood level reduces with these preparations. 

These drugs are currently in increased demand given the rise of all types of diseases worldwide, especially chronic ones that require long term therapy. Since parenteral entry often requires basic paramedic training, these drugs are seldom self-administered and therefore majorly found in professional healthcare settings. The rise in demand for good healthcare is anticipated to bring a concomitant rise to the parenteral drug market. 

From 2020 to 2030, Transparency Market Research notes, global parenteral drugs market would grow at a decent CAGR, driving the market on to a notable growth curve, adding o the market worth by a significant value.

Global Parenteral Drugs Market: Competitive Landscape

The global parenteral drugs market is dotted by a number of manufactures, which makes the market’s vendor landscape fragmented. Some of these distinguished manufactures in the global parenteral drugs market are listed below.

  • Beximco Pharma
  • Baxter Healthcare Corporation
  • Cook Pharmica
  • Teva Pharmaceutical Industries
  • Ostuka Pharmaceutical
  • Kelun Pharma
  • Fresenius
  • BAG Healthcare
  • Patheon
  • B. Braun
  • Ozon Pharmaceuticals Ltd
  • Wintac Limited
  • Albert David
  • Acebright
  • Aspen Holdings
  • Pisa
  • BML Parenteral Drugs
  • AXA Parenterals Ltd
  • PSI Ltd
  • Pfizer (Hospira)
  • Southwest Pharmaceutical
  • Abbott

These manufactures are already established in the pharmaceutical industry and are currently looking to expand production and improve market penetration in untapped region by entering alliances based on mutual synergies, product development, etc. 

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Global Parenteral Drugs Market: Key Trends and Drivers

  • Parenteral drugs are crucial for chronic diseases like cancer, diabetes, coronary heart disease among others because it is necessary that drugs reach target organs quickly and in the original form. According to the World Health Organization, the prevalence of chronic diseases is rising worldwide and is estimated to be about 57% by the year 2020. This is set to impact growth in global pareneteral drugs market in a positive manner. Additionally, it is worth noting here that these drugs are used in healthcare settings due to expertise required to administer them. With global healthcare spending expected to rise by 5% over the next 3 years, the parenteral drugs market is set to get a boost.
  • A hindrance to the growth of these drugs could be the aversion people have to any drug formulation which is not given orally. Since expertise is required for parenteral entry, these drugs cannot be taken by individuals themselves. Being painful they are often avoided. This factor can be counteracted by Needle Free Injection Technologies, which make use of natural physical forces to drive drugs into the patient's skin, often being minimally painful.

Global Parenteral Drugs Market: Regional Analysis

North America and Europe currently garner the maximum share of this market. This growth can be pinned on to an existing healthcare setup that is robust and on to an aware population that understands the importance of healthcare.

The Asia Pacific region (APAC) is expected to grow at the fastest rate over the forecast period owing to growing healthcare penetration into this region and a high level of trust for allopathic preparations in this inherently diverse healthcare market. 

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

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10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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