Small-Molecule Injectable MarketThe global Small-Molecule Injectable Market was valued at US$ 55.8 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.
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.
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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.
“Increasing adoption of chemotherapy for cancer treatment is expected to propel the small-molecule injectable market growth. In addition to this, fast track drug approvals will continue spurring demand for small-molecule injectables over the forecast period,” says the FMI Analyst.
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.
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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.
More Insights into the Small-Molecule Injectable Market Report
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global small-molecule injectable market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights into small-molecule injectable market. The market is segmented into five parts based on product (small molecule antibiotics, chemotherapy agents, local and general anesthetics, skeletal muscle relaxants, analgesics, anticoagulants, anticonvulsants, antivirals, anti-histamines/ anti-allergy, and others), application (oncology, pain management, cardiovascular diseases, infectious diseases, CNS diseases, blood disorders, musculoskeletal disorders, and others), route of administration (intravenous (IV), intramuscular (IM), and subcutaneous (SC)) and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and mail order pharmacies) across seven major regions.
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