Medical Pendant Market is Expected to Register a Healthy CAGR For The Forecast Period by The End of 2026
The global small-molecule injectable market was valued at US$ 52.7 Bn in 2020.
Expanding at a 7.3% CAGR, the market valuation is expected to top US$ 112.9 Bn by 2031, finds ESOMAR-certified consulting firm Future Market Insights (FMI) in a recent market analysis.
The COVID-19 pandemic outbreak has sparked efforts to repurpose already-approved medicines for treatment.
Several clinical studies are now being conducted on different antiviral medicines and small-molecule injectables that have been utilized in the past to treat diseases including SARS, MERS, HIV/AIDS, and malaria.
For instance, Remdesivir was approved by FDA for the treatment of COVID-19 in hospitalized adult and pediatric patients.
This is expected to fuel sales of small-molecule injectables over the forecast period. Besides this, rising prevalence of chronic illnesses especially cancer and cardiovascular diseases across the globe are anticipated to usher developments in the small-molecule injectables market.
Pharmaceutical companies are aiming at production facility expansions to reduce corporate tax rate (in the U.S.), and to expand their footprints in emerging markets such as India and China, where production cost is low as compared to regions such as Europe and North America.
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Recent tax reforms in the U.S., which include reduction of the corporate tax rate, have encouraged various large pharmaceutical and biopharmaceutical companies to invest in production facilities.
For example, in July 2020, Pfizer announced its plan to invest around US$ 465.0 million to build a sterile injectable plant in Portage, Michigan.
This step is a part of its announcement that it made earlier in 2020 about its plans to invest around US$ 5.0 billion in a U.S.-based capital project due to the recent corporate tax reforms in the country.
These developments are indicative of lucrative growth prospects for small-molecule injectable market players.
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- By product, the analgesics segment is expected to hold 23.9% of the total small-molecule injectable market in 2021, expanding at 8.0% CAGR.
- In terms of applications, demand for small-molecule injectables in the infectious disease segment is expected to hold 31.7% of the total market share in 2021.
- By route of administration, the intravenous segment is anticipated to hold 50% of the total market share in 2021.
- Sales of small-molecule injectables through hospital pharmacies are projected to account for 67.8% of the total market share in 2021.
- The U.S. is anticipated to dominate the North America small-molecule injectables market, holding 92.4% of the market share.
- Germany is expected to hold of 21.9% of the Europe small-molecule injectable market share by 2031.
- Small-molecule injectable market in China is projected to expand at a 9.0% CAGR over the forecast period.
- Demand for small-molecule injectables in India is forecast to grow at an impressive 11.1% CAGR through 2031.
- Sales of small-molecule injectables in South Korea and Japan are anticipated to rise at 5.0% and 8.8% respectively.
The key market players covered by FMI include Aurobindo Pharma Limited, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., AstraZeneca Plc, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Baxter International, Fresenius Kabi, Cipla Ltd, Mylan N.V., Sanofi S.A, and Dr. Reddy’s Laboratories Ltd.
Leading manufacturers of small-molecule injectables are focusing on strategic collaborations and partnerships to strengthen product portfolios.
Manufacturers are also aiming at production facility expansions through acquisitions and mergers to gain a competitive edge in the market. For instance:
- In September 2020, Aurobindo Pharma USA Inc. acquired commercial operations and three manufacturing facilities in the U.S from Sandoz Inc., USA, and Novartis Division.
- In May 2020, Novartis AG received FDA approval for first Piqray – the first and only treatment specifically for patients with a PIK3CA mutation in HR+/HER2- advanced breast cancer.
In April 2020, AstraZeneca announced a collaboration with Benevolent AI to use machine learning and artificial intelligence to discover potential new drugs for chronic kidney disease and idiopathic pulmonary fibrosis.
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Small Molecule Injectable Market by Category
- Small Molecule Antibiotics
- Chemotherapy Agents
- Local and General Anaesthetics
- Skeletal Muscle Relaxants
- Anti-histamines/ Anti-allergy
- Pain Management
- Cardiovascular Diseases
- Infectious Diseases
- CNS Diseases
- Blood Disorders
- Musculoskeletal Disorders
By Route of Administration:
- Intravenous (IV)
- Intramuscular (IM)
- Subcutaneous (SC)
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Mail Order Pharmacies
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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