To achieve a therapeutic effect in humans and animals, drug delivery is the method of delivering a pharmaceutical compound. Nasal and pulmonary routes are gaining increasing importance of drug delivery for the treatment on humans. For peptide and protein therapeutics these routes of drug delivery provide promising alternative to parenteral drug delivery.
The use of injectable drug delivery with advent of self-injection devices such as auto-injectors, pen-injectors, has made administration of drugs easy for patients at home without any medical assistance.
Figure 1. Middle East and Asia Injectable Drugs Market Value (US$ Mn), By Product Type, 2021
Figure 1.1 Middle East and Asia Injectable Drugs Market Value (US$ Mn), By Product Type, 2028
|Base Year:||2020||Market Size in 2021:||US$ 4,15,000 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||8.2%||2028 Value Projection:||US$ 7,23,164 Mn|
Kalbe Farma, Takeda pharmaceuticals Co. Ltd., Livzon Pharmaceutical Group, Inc., Sun Pharmaceutical Industries, Ltd., Pfizer, Inc., Sanofi, Novartis, Tabuk, Novo Nordisk, GlaxoSmithKline plc, AstraZeneca, and Gerresheimer AG
|Restraints & Challenges:||
Figure 2. Middle East and Asia Injectable Drugs Market Value (US$ Mn), By Route of Administration, 2021
Figure 2.1. Middle East and Asia Injectable Drugs Market Value (US$ Mn), By Route of Administration, 2028
Middle East and Asia Injectable Drugs Market – Impact of Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 3.3 million new cases were reported, across the globe.
The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. Likewise, COVID-19 pandemic is expected to have a negative impact on Middle East and Asia injectable drugs market
Even if the COVID-19 pandemic has caused a huge disruption in global pharmaceutical supply chain, in Saudi COVID-19 impact was largely manageable in healthcare institutions. There are various reasons that can attribute between the effective exchange programs within the hospitals and huge increase in public healthcare such as technological advancements, ageing populations, changing disease patterns.
Middle East and Asia Injectable Drugs Market - Restraint
In Middle East, the diseases which are non-communicable are causing premature deaths such as heart disease (45%) and stroke (36%). The growing burden of non-communicable diseases in the region is increasing because of improper diet, smoking, high B.P., and huge body mass.
The market forces are to be taken over because of government failure to provide comprehensive healthcare services. So this has changed it in a commodity with curative impact rather than just preventive. The development of health systems had been driven by economic opportunities for providers.
Major players operating in the Middle East and Asia Injectable Drugs Market include Kalbe Farma, Takeda pharmaceuticals Co. Ltd., Livzon Pharmaceutical Group, Inc., Sun Pharmaceutical Industries, Ltd., Pfizer, Inc., Sanofi, Novartis, Tabuk, Novo Nordisk, GlaxoSmithKline plc, AstraZeneca, and Gerresheimer AG
Injectable drug delivery is considered as the most effective route of administration for the effective delivery of drugs to the targeted site. Injectable delivery facilitates rapid absorption of drug from various route of administration such as subcutaneous, intravenous, and intramuscular. Injectable delivery increases the bioavailability of the drug at the systemic circulation. The increasing prevalence of chronic diseases, technological advancements, demand for individual therapy, awareness regarding drug metabolism among the population, and requirement of controlled drug release are the major factors driving the growth of the Middle East and Asia injectable drugs market.
Middle East and Asia injectable drugs market is estimated to be valued at US$ 4,15,000 Mn in 2021 and is expected to increase to US$ 7,23,164 Mn by 2028, witnessing a CAGR of 8.2% during the forecast period.
Increase in technology advancement, increasing government initiatives in healthcare sector of Middle East, innovations and ongoing R&Ds on injectable drug delivery systems and increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive the growth of the Middle East and Asia injectable drugs market.
As per the article Bevan Brittan, 2020, The Middle East is seeing a boom in healthcare sector. Aging populations, lengthening life expectations, and different lifestyle are the factors driving the market growth. The opportunities are leading to new models of care and out of hospital facilities because of the focus on prevention and not just simple treatment. Encompassing the primary, community and secondary care, the Saudi Arabia has embarked to build a new healthcare system.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.