Parenteral drugs market value to be worth $802 billion by 2029, says study

The parenteral drugs market – which was worth an estimated $451 billion in 2019 – will be worth $802 billion in 2029, according to a Fact.MR study.

Rising prevalence of chronic illnesses such as cancer, cardiovascular diseases and diabetes across the globe, has been the prime revenue driver for parenteral drugs and this trend is not likely to abate any time in the foreseeable future, the study finds.

By product type, the monoclonal antibodies segment is found to account for maximum market share in terms of revenue in this market, something that is primarily attributed to the rising adoption of biologics.