Small Molecule Injectable Drugs Market is Estimated to Witness High Growth Owing to Increasing Chronic Diseases and Expansion of Healthcare Infrastructure
The small molecule injectable drugs market is estimated to be valued at USD 216.73 Bn in 2024 and exhibit a CAGR of 8.1% over the forecast period (2024-2031). The small molecule injectable drugs market growth can be attributed to the rising prevalence of chronic diseases worldwide and growing geriatric population. Furthermore, increasing investments in healthcare infrastructure development in emerging markets are also contributing to the market growth.
Market Dynamics:
Rising Geriatric Population: The global geriatric population is growing at an unprecedented rate. As people age, they become more susceptible to develop chronic illnesses such as cardiovascular diseases, diabetes, cancer, etc. This increasing pool of elderly population globally drives the demand for small molecule injectable drugs.
Increasing Healthcare Expenditure: With the growing burden of diseases, governments across nations are allocating higher budgets to improve healthcare access and services. This has increased healthcare spending which fuels the demand for small molecule injectable drugs from hospitals and clinics. Furthermore, enhanced access to healthcare due to expanding insurance coverage is another factor driving the market growth.
Small Molecule Injectable Drugs Market Drivers
Increasing incidence of chronic diseases
Small molecule injectable drugs are predominantly used for treating chronic diseases such as cancer, diabetes, cardiovascular diseases and others. For instance, in October 2024, according to the WHO, chronic diseases are estimated to account for around 60% of all deaths globally. The rising prevalence of chronic diseases is directly proportional to the demand for small molecule injectable drugs which is one of the major market drivers.
Growing geriatric population
The risk of developing chronic diseases increases with age. According to UN reports, the percentage of global population aged 60 years or above is estimated to nearly double from 12% to 22% between 2015 and 2050. The elderly constitute a major share of patients requiring long term treatment with injectable drugs. The surge in geriatric population Base is anticipated to boost the small molecule injectable drugs market.
Small Molecule Injectable Drugs Market Restraints
Preference for oral drug formulations
Oral drug formulations are generally preferred over injectables due to ease of self-administration and flexibility in dosing. Oral drugs afford patients more autonomy and discretion over their medication. This inclination towards oral drug therapies poses a challenge to the growth of the small molecule injectable drugs market.
Strict regulatory framework
Injectable drugs have heightened safety risks compared to oral drugs owing to direct administration into the body. Regulatory authorities have instituted stringent norms pertaining to quality, safety and efficacy that manufacturers must comply with. The elaborate and complex regulatory procedures prolong drug development timelines and increase costs which restrain the small molecule injectable drugs market to some extent.
Small Molecule Injectable Drugs Market Opportunities
Increased R&D in oncology therapeutic area
Cancer incidence is rising at an alarming rate globally with malignant tumors accounting for a vast number of deaths each year. This has spurred massive investments in oncology research with injectable drugs gaining prominence in cancer treatment. Increased R&D focus on targeted therapies, ADCs, immunotherapy is opening up scope for innovative small molecule injectable anti-cancer drugs.
Growing healthcare expenditure in emerging nations
Healthcare sectors in developing countries are being revamped with greater budget allocations. This translates to more funding for modern healthcare services and greater adoption of high-quality medicines including specialty injectable drugs. Governments are taking initiatives to bolster healthcare infrastructure and improve access to advanced treatment options. The expanding medical needs and spending power in emerging economies present remunerative opportunities for small molecule injectable drugs market.
Link: https://www.coherentmarketinsights.com/market-insight/small-molecule-injectable-drugs-market-5033
Key Developments
- On September 17, 2024, Ascletis Pharma Inc., a pharmaceutical company, announced the completion of initial dosing in its two recently initiated U.S. Phase I clinical trials for ASC30, the first and only small molecule GLP-1 receptor (GLP-1R) agonist that can be dosed once monthly subcutaneously and once-daily orally for the treatment of obesity
- On May 7, 2024, Enable Injections, Inc., an innovator in developing and manufacturing the wearable drug delivery device technology, announced a partnership with F. Hoffmann-La Roche Ltd, a pharmaceutical company, to develop and apply Enable’s expertise and enFuse delivery technology to specific Roche development programs. Through this collaboration, Roche will obtain a worldwide, exclusive license to develop and commercialize combinations of the enFuse technology with specific Roche molecules. enFuse is the first purely mechanical wearable drug delivery device technology designed to deliver large volumes of small molecule and biologic medications subcutaneously, whereby patients receive their needed treatment in a simple injection under the skin, instead of intravenously.
Key Players
Novartis AG, Pfizer, Inc., Sun Pharmaceutical Industries Ltd., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Aurobindo Pharma Ltd., Baxter, Fresenius Kabi AG, Cipla, Mylan N.V, AstraZeneca, GSK plc, Hikma Pharmaceuticals PLC, Ascletis Pharma Inc., and Regeneron Pharmaceuticals Inc.
