As per the latest report published by Credence Research, Inc. “Sterile Injectables Market (Drug Type: Monoclonal Antibodies, Cytokines, Insulin, Immunoglobulin, Vaccines, Peptide Hormones, Peptide Antibiotics, Blood Factors and Others; Therapeutic Area: Cancer, Infectious Diseases, Diabetes, Cardiovascular Diseases, Neurological Diseases, Musculoskeletal Diseases and Others)- Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global sterile injectables market was evaluated at US$ 324.1 Bn in 2016, expanding at a CAGR of 7.1%.
Market Insights:
Injectables are administered into the blood stream to ensure rapid recovery, convenience to patients and reduced complications. Sterile injectables are preferred in medical treatment due to its rapid mode of action, simple administration approach and non-interference with digestive system. The prolonged effect of injectables with lower dosage and increasing bioavailability has also contributed to rise in demand for sterile injectables.
Harbouring innovations in new product development with advanced technologies resulting in improved drug delivery techniques, emerging preference of usage of biologics and their swift adoption among healthcare professionals have driven the sterile injectables market. However, high operational cost and stringent guidelines regarding to the quality, safety and efficacy of the products have a negative effect on the growth of sterile injectables market. Increasing focus on merger and acquisition activities of major players with a view to improved commercialization and expanding R&D expenditure are further driving the sterile injectables market.
On the basis of drug type, monoclonal antibody is estimated to be the leading segment as a result of increasing prevalence of cancer, respiratory diseases like asthma, infectious diseases and autoimmune diseases like rheumatoid arthritis and its effective therapeutic effect. Out of all the therapeutic areas of sterile injectables, cancer and infectious diseases are considered to hold the largest share due to increasing cases across the globe consequent of improved clinical outcomes.
Geographically, in the year 2016, North America spearheaded the sterile injectables market with a steady growth due to growing prevalence of chronic disorders, developed healthcare infrastructure, adoption of advanced technology, growing health awareness among patients, presence of key manufacturers and destination of outsourcing of sterile injectables. Europe is anticipated to be largely driven by improved product development and increasing demand and growing focus on contract manufacturing. Asia Pacific is predicted to witness the fastest growth as a result of growing consumer awareness, emerging market players and developing healthcare infrastructure.
The sterile injectables market presently comprises various companies having their products marketed. The key industry players include Pfizer Inc., Mylan N.V, Baxter International Inc., Merck & Co., Inc., Novartis AG, Johnson & Johnson Services, Inc., Amgen Limited, Nichi-Iko Pharmaceutical Co., Sanofi, Eli Lilly, AstraZeneca plc., and Company and other notable players.
Chakresh Thakur
Credence Research
sales@credenceresearch.com