Recording a y-o-y growth of 8.5%, injectable drug sales in North America are forecast to total USD 209.2 billion in 2024. A healthy CAGR of 6.9% is on the horizon for the North America injectable drug industry, with total revenue reaching a staggering USD 407.2 billion by 2034.
Analgesics remain the top-selling injectable drugs across North America, owing to their high adoption in pain management. The target segment is forecast to record a CAGR of 8.8% from 2024 to 2034.
North America Injectable Drug Industry Forecast
| Attributes | Key Insights |
|---|---|
| Base Value in 2023 | USD 192.8 billion |
| North America Injectable Drug Industry Size in 2024 | USD 209.2 billion |
| North America Injectable Drug Industry Value in 2034 | USD 407.2 billion |
| Value CAGR (2024 to 2034) | 6.9% |
Injectable drugs such as antibiotics, antivirals, analgesics, corticosteroids, vasodilators, antipsychotics, and opioids are witnessing high demand across North America. This can be attributed to rising incidence of chronic disease and quick and effective action of injectables.
Injectable drugs are becoming versatile and effective means of delivering medication quickly. Their fast action, enhanced bioavailability, and higher effectiveness make them popular in managing a wide variety of medical conditions.
Healthcare professionals prefer injectable drugs, especially in complex cases, as they allow for accurate dosing and rapid biological response. Growing popularity of injectable drugs for treating chronic infections, diabetes, cancer, and pain will propel sales growth.
The rise of biologics like insulin, monoclonal antibodies, and gene therapies is opening new growth windows for injectable drug companies. Similarly, rising popularity of self-injectables due to their convenience will benefit the injectable drug industry in North America.
Sales remain particularly high for analgesic drugs owing to their adoption for pain management. These medications quickly and effectively relieve severe pain, making them highly sought-after in the region.
There are a handful of sterile injectable manufacturers with limited production capacity. Also, the manufacturing process is complicated and has large lead time. These factors have made the injectable drug industry prone to shortage.
As per the survey conducted by ASHP in March 2022, there was a shortage of certain important injectable drugs. The key finding of the survey showed prefilled 50% dextrose syringes, 0.9% saline syringes or vials, local anesthetic vials (with or without epinephrine), and prefilled epinephrine syringes were severely impacted by the shortage along with other medications.
To address this shortage, manufacturers are focusing on enhancing their production capacity. They are also collaborating with contract manufacturing organizations (CMOs) to reduce costs and save their time.
Sales of injectable drugs in North America increased at a CAGR of 5.9% from 2019 to 2023. Total revenue at the end of 2034 reached around USD 192.8 billion. Between 2024 and 2034, injectable drug demand in the region is forecast to surge at 6.9% CAGR.
Growing awareness about the advantages of injectables is a key factor propelling demand. Injectable drugs offer multiple benefits, including fast action and high effectiveness. This is making them popular among healthcare professionals and patients.
Another contributor to the industry expansion is the continuous drug approval and product launch. Top injectable drug manufacturers are constantly introducing new products targeting various therapeutic areas.
In 2022, the United States Food & Drug Administration (US FDA) approved over 100 injectable drugs. Also, in April 2023, Endo Pharmaceutical announced the launch of Argatroban injection through Premier's ProRx private-label program.
In January 2022, Hikma launched the diazepam injection, USP, in a single-dose prefilled syringe. This shows the harmony between the strategic moves adopted by companies and the supporting regulatory process, which is fueling the injectable drug industry.
Rising trend of outsourcing drug development processes is emerging as a key factor boosting the industry. Injectable pharmaceutical companies are shifting toward contract development and manufacturing organizations for numerous reasons.
Outsourcing manufacturing allows companies to increase their production capacity and tackle the drug shortage within the industry. It also reduces the investment required for facility and maintaining the team of experts.
The growing adoption of generic injectable drugs is another factor boosting injectable drug industry growth in North America. According to the US FDA, 91% of all prescriptions are generic drugs in the United States.
In 2017, the FDA granted approval for 80 new orphan indications and further 53 approvals in 2020. Hence, the shift toward outsourcing manufacturing activities, increased adoption of generic drugs, and new approval of orphan drugs will create lucrative growth prospects for manufacturers.
Despite the significant opportunity for injectable drug industry, the high operational costs of injectable drugs act as a restraint for the industry. These medications require complex equipment for manufacturing. This leads to high operating costs and high debt levels due to the purchase or rent-to-lease of capital equipment.
The elevated expenses can create challenges for patients, healthcare providers, and healthcare systems, potentially leading to restricted access and utilization of injectable therapies. Additionally, high drug prices may result in increased financial burdens on individuals and healthcare budgets, influencing treatment decisions and industry expansion.
The regulatory cost burden is also high as the United States Food and Drug Administration (FDA) mandates to maintain a high degree of care in not only manufacturing but also packaging, storage, and distribution. Some areas of high cost include maintaining sterility from bacterial and fungal contamination and stability issues (crystallization). This can limit industry expansion.
The table below shows the estimated growth rates of different nations across North America. Canada is set to witness high injectable drug consumption, recording a CAGR of 8.7% through 2034.
Growth Outlook by Key Countries
| Countries | Value CAGR |
|---|---|
| United States | 6.8% |
| Canada | 8.7% |
The United States injectable drug industry has a bright future, with total valuation reaching USD 202.88 billion in 2024. Emerging trends indicate injectable drug sales to rise at around 6.8% across the United States through 2034.
Growing incidence of chronic diseases, such as diabetes and cancer, is a key factor providing impetus for sales growth. Subsequently, escalating popularity of biologics, especially insulin and other cancer treatments, administered through injection will boost sales.
The United States has a well-established healthcare infrastructure which establishes its dominance in North America. According to the American Hospital Association (AHA), there are around 916,752 staffed beds in all United States hospitals and about 33,679,935 admissions.
The growing hospital admissions and high prevalence of chronic diseases are leading to increased use of injectable drugs, thereby pushing sales growth. Strong presence of top pharmaceutical giants is also improving the United States injectable drug industry share.
Canada is emerging as a highly remunerative pocket for injectable drug manufacturers and distributors. A robust CAGR of 8.7% has been predicted for Canada's injectable drug industry between 2024 and 2034.
Canada has a stringent regulatory framework, and there is growing adoption of biologics. These complex molecules, often administered via injection, offer targeted therapies for various diseases. This is providing impetus for the growth of injectable drug industry in the country.
The ongoing innovations in drug delivery systems and rising burden of diseases are other factors behind the rising sales of injectable drugs. Similarly, favorable government support will aid in the expansion of the target industry.
The section covers all the leading segments of North America’s injectable drug industry. By drug class, the analgesics segment is projected to witness a CAGR of 8.8% through 2034. In terms of route of administration, the intravenous (IV) injections segment is likely to showcase a 6.0% CAGR through 2034.
Growth Outlook by Drug Class
| Drug Class | Value CAGR |
|---|---|
| Antibiotics | 5.1% |
| Antivirals | 7.0% |
| Antifungal | 9.4% |
| Antibacterial | 4.8% |
| Analgesics | 8.8% |
| Antipsychotic | 7.6% |
| Opioids | 4.1% |
| Local and General Anesthetics | 7.8% |
| Anticoagulants | 9.0% |
| Anticovasculants | 7.7% |
| Muscle Relaxant | 8.3% |
| Antihistamines | 7.2% |
| Corticosteroids | 4.4% |
| Calcium | 6.1% |
| Cardiotonic | 8.0% |
| Sympathomimetic | 9.2% |
| Hormonal Contraceptive | 4.7% |
| Intravenous Infusion | 9.1% |
| Vasodilator | 5.7% |
| Beta-blockers | 4.6% |
| Vitamins | 7.3% |
| Antiemetic | 8.4% |
| Proton-Pump Inhibitors (PPIs) | 4.2% |
| Chemotherapy Drugs | 8.4% |
| Others | 5.2% |
Injectable analgesic drugs are in high demand across North America. This is attributable to growing need for pain management across different therapeutic areas. As per the latest analysis, the analgesics segment will display a CAGR of 8.8%, accounting for a revenue share of 12.6% in 2034.
Analgesics drugs like paracetamol, opioids, aspirin, and NSAIDS are the first line to treat many cases of pain management. Injectable analgesics are especially gaining popularity in North America due to their ability to quickly and effectively relieve severe or acute pain.
Growth Outlook by Route of Administration
| Route of Administration | Value CAGR |
|---|---|
| Intravenous (IV) Injections | 6.0% |
| Intramuscular (IM) Injections | 7.7% |
| Subcutaneous (SC) Injections | 8.8% |
Intravenous injections remain the gold standard route of administration in North America. This is due to its multiple benefits, including fast drug delivery and precision. This route of administration is ideal in situations where speed and accuracy are significant.
As per the latest report, the intravenous injections segment will continue to retain its dominance in North America, holding a share of 47.9% in 2024. Further, a CAGR of 6.0% is on the cards for the target segment.
Intravenous administration is a widely preferred route of administration in hospitals and by major surgeons. This is because it offers predictable bioavailability and precise dosage delivery.
In chronic cases where quick response is required, IV route is used. IV medications have the tendency to deliver life-saving drugs quickly and effectively in situations like heart attack, shock, and chronic infection.
Growth Outlook By Therapeutic Area
| Therapeutic Area | Value CAGR |
|---|---|
| Pain Management | 5.4% |
| Cardiovascular Disease | 7.9% |
| Infectious Disease | 5.9% |
| Allergy | 6.8% |
| Gastrointestinal Disease | 6.5% |
| Nutrition Deficiency | 4.1% |
| Hematology Disorders | 5.0% |
| Gynecology | 7.3% |
| Cancer | 9.8% |
Injectable drug usage is rising rapidly in cancer treatments due to their fast and quick action. Courtesy of this, the target segment will probably thrive at 9.8% CAGR between 2024 and 2034.
Growing incidence of cancer in North America will lead to higher demand for cancer treatments, creating growth opportunities for injectable drug manufacturers. Similarly, rising importance of injectable drugs for cancer is set to accelerating segment growth.
According to the World Health Organization (WHO), the cancer burden is escalating in North America and other regions. This, in turn, is propelling demand for chemotherapy and other cancer treatments that use injectable drugs.
Chemotherapy is the most widely used treatment option for cancer patients. It involves administration of chemical agents through IV route to target cancerous cells. Hence, growing cancer prevalence and rise in chemotherapy will continue to give the cancer segment a slight edge over other therapeutic areas.
Leading manufacturers of injectable drugs in North America are constantly investing in research and development to explore new drugs targeting various therapeutic areas. They are also exploring new drug delivery systems, including self-injectable options, as well as developing targeted therapies and biologics to stay ahead of the competition.
Several injectable drug companies are partnering and collaborating with contract manufacturing organizations (CMOs) to reduce costs and save time. Similarly, the North America injectable drug industry is witnessing strategies like acquisitions, distribution agreements, and mergers as players look to push their expertise and footprint.
Recent Developments in North America Injectable Drug Industry
| Attribute | Details |
|---|---|
| Industry Value in 2024 | USD 209.2 billion |
| Industry Size in 2034 | USD 407.2 billion |
| Growth Rate (2024 to 2034) | 6.9% CAGR |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Industry Analysis | USD billion for Value |
| Key Regions Covered | North America |
| Key Countries Covered | United States, Canada, and Mexico |
| Key Industry Segments Covered | Drug Class, Route of Administration, Therapeutic Area, Molecule Type, and Distribution Channel. |
| Key Companies Profiled | Pfizer Inc.; GlaxoSmithKline Plc.; Sanofi; Merck & Co., Inc.; Eli Lilly and Company; Boehringer Ingelheim International GmbH; Johnson & Johnson (Janssen Pharmaceuticals, Inc.); Bayer AG; Amgen Inc.; Novo Nordisk A/S; Takeda Pharmaceutical Company Limited; Eisai Co., Ltd.; Sandoz (Novartis AG); Teva Pharmaceutical Industries Ltd.; Cipla Ltd.; Sun Pharmaceutical Industries Ltd.; Lupin Pharmaceuticals; Hikma Pharmaceuticals PLC; Viatris Inc. (Mylan N.V); Endo International (Par Pharmaceutical ); Aspen Pharmacare; Aurobindo Pharma |
| Report Coverage | Industry Forecast, Competition Intelligence, DROT Analysis, Industry Dynamics and Challenges, Strategic Growth Initiatives |
Table 01: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Drug Class
Table 02: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Route of Administration
Table 03: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Therapeutic Area
Table 04: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Molecule Type
Table 05: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
Table 06: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Country
Table 07: United States Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Drug Class
Table 08: United States Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Route of Administration
Table 09: United States Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Therapeutic Area
Table 10: United States Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Molecule Type
Table 11: United States Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
Table 12: Canada Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Drug Class
Table 13: Canada Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Route of Administration
Table 14: Canada Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Therapeutic Area
Table 15: Canada Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Molecule Type
Table 16: Canada Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
Figure 01: Industry Value Share by Drug Class 2024 (E)
Figure 02: Industry Value Share by Route of Administration 2024 (E)
Figure 03: Industry Split by Therapeutic Area 2024 (E)
Figure 04: Industry Value Share by Molecule Type 2024 (E)
Figure 05: Industry Split by Distribution Channel 2024 (E)
Figure 06: Industry Split by Country 2024 (E)
Figure 07: Industry Historical Industry Value, 2019 to 2023
Figure 08: Industry Value (US$ billion) and Y-o-Y Growth (%), 2024 to 2034
Figure 09: Industry Absolute $ Opportunity, 2024 to 2034
Figure 10: Industry Analysis by Drug Class 2024 (E) to 2034 (F)
Figure 11: Industry Y-o-Y Growth Projections by Drug Class, 2024 to 2034
Figure 12: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Drug Class
Figure 13: Industry Analysis by Route of Administration 2024 (E) to 2034 (F)
Figure 14: Industry Y-o-Y Growth Projections by Route of Administration, 2024 to 2034
Figure 15: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Route of Administration
Figure 16: Industry Analysis by Therapeutic Area 2024 (E) to 2034 (F)
Figure 17: Industry Y-o-Y Growth Projections by Therapeutic Area, 2024 to 2034
Figure 18: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Therapeutic Area
Figure 19: Industry Analysis by Molecule Type 2024 (E) to 2034 (F)
Figure 20: Industry Y-o-Y Growth Projections by Molecule Type, 2024 to 2034
Figure 21: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Molecule Type
Figure 22: Industry Analysis by Distribution Channel 2024 (E) to 2034 (F)
Figure 23: Industry Y-o-Y Growth Projections by Distribution Channel, 2024 to 2034
Figure 24: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Distribution Channel
Figure 25: Industry Analysis by Region 2024 (E) to 2034 (F)
Figure 26: Industry Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 27: Industry Size (US$ billion) Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
Figure 28: United States Industry Value Share by Drug Class 2024 (E)
Figure 29: United States Industry Value Share by Route of Administration 2024 (E)
Figure 30: United States Industry Split by Therapeutic Area 2024 (E)
Figure 31: United States Industry Value Share by Molecule Type 2024 (E)
Figure 32: United States Industry Split by Distribution Channel 2024 (E)
Figure 33: United States Industry Value (US$ billion) Analysis, 2019 to 2023
Figure 34: United States Industry Value (US$ billion) and Y-o-Y Growth (%), 2024 to 2034
Figure 35: United States Industry Attractiveness Analysis, by Drug Class
Figure 36: United States Industry Attractiveness Analysis, by Route of Administration
Figure 37: United States Industry Attractiveness Analysis, by Therapeutic Area
Figure 38: United States Industry Attractiveness Analysis, by Molecule Type
Figure 39: United States Industry Attractiveness Analysis, by Distribution Channel
Figure 40: Canada Industry Value Share by Drug Class 2024 (E)
Figure 41: Canada Industry Value Share by Route of Administration 2024 (E)
Figure 42: Canada Industry Split by Therapeutic Area 2024 (E)
Figure 43: Canada Industry Value Share by Molecule Type 2024 (E)
Figure 44: Canada Industry Split by Distribution Channel 2024 (E)
Figure 45: Canada Industry Value (US$ billion) Analysis, 2019 to 2023
Figure 46: Canada Industry Value (US$ billion) and Y-o-Y Growth (%), 2024 to 2034
Figure 47: Canada Industry Attractiveness Analysis, by Drug Class
Figure 48: Canada Industry Attractiveness Analysis, by Route of Administration
Figure 49: Canada Industry Attractiveness Analysis, by Therapeutic Area
Figure 50: Canada Industry Attractiveness Analysis, by Molecule Type
Figure 51: Canada Industry Attractiveness Analysis, by Distribution Channel
The North America industry value is set to total USD 209.2 billion in 2024.
The North America industry size is forecast to reach USD 407.2 billion by 2034.
Injectable drug demand in North America is set to rise at 6.9% CAGR.
With a 10.8% value share, analgesics remain a popular drug class.
The North America industry increased at a 5.9% CAGR from 2019 to 2023.
The United States injectable drug industry size reached USD 187.06 billion in 2023.
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Injectable Drug Industry Analysis in North America
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