Global Injectables Market: By Type (Devices, Formulations), Route of Administration (Intravenous, Intramuscular, Subcutaneous), By Application (Oncology, Neurology, Cardiovascular Diseases, Autoimmune Diseases, Infectious Diseases, Pain, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography

Injectables Market size was valued at USD 549.8 billion in 2023 and is poised to grow at an 11.6% CAGR from 2024-2030. Injectables, also known as parenteral medications, are pharmaceutical formulations that are administered directly into the body through various routes, bypassing the gastrointestinal tract. These medications are typically in liquid form, although some may also be presented as powders for reconstitution before administration. Factors such as rising R&D focus on developing biotechnology-engineered anti-cancer drugs, rapid growth in the usage of pre-filled syringes for biologics, and increased outsourcing activities across the value chains expected to raise the supply of injectables are boosting the market growth. The rising prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases, and others is the key factor driving the market growth. The high burden of chronic diseases among the population is anticipated to increase the demand for effective and safe injectables hence propelling the market growth.

Furthermore, the rising focus of companies on developing injectables for new therapeutic classes is expected to increase their adoption by physicians and patients and their availability in the market, which in turn is anticipated to fuel market growth. However, the high expenses associated with inventory management and the availability of alternate drug delivery methods are likely to hinder the market growth over the forecast period. The availability of alternative drug delivery methods is expected to hamper the growth of the injectables market.  The increasing burden of cancer and the launch of novel products are expected to drive the market's growth over the forecast period. Injectables are associated with effective treatment of ailments as well as faster recovery times and thus preference for them is increasing among patients. Injectables are considered practical in emergencies and as the capabilities of hospitals and medical workers to handle emergencies increase, injectables are seeing more application. Medical professionals recommending injections to their patients instead of oral medicine, for their effectiveness in getting rid of common problems like fever and cold, is influencing the market positively

Injectables Market Key Developments:

• In May 2022, Roche launched PHESGO, a combination of Perjeta (pertuzumab) and Herceptin (trastuzumab) with hyaluronidase to treat breast cancer.
• In February 2022, 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.
• In May 2022, FDA approved Eli Lilly's Mounjaro (tirzepatide) injection, a new once-weekly GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist, to improve glycemic control in adults with type 2 diabetes.