According to the recent market research report published by Persistence Market Research titled ‘Sterile Injectable Drugs Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)’, the global sterile injectable drugs is expected to expand at a significant CAGR 6.9% during the forecast period 2017–2025.
Persistence Market Research has delivered key insights and presented a revised forecast of the global sterile injectable drugs market for a period of 8 years from 2017 to 2025. The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based factors driving the demand, as well as the recent developments of key market participants. The global sterile injectable drugs market is projected to expand at a moderate CAGR of 6.9%, in terms of value, during the forecast period. The global market is estimated to reflect a valuation of around US$ 655 Mn by 2025 from a value of about US$ 383 Mn in 2017.
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Global Sterile Injectable Drugs Market: Segmentation Analysis
The global sterile injectable drugs market is segmented based on molecule type, drug type, applications, route of administration, distribution channel and region.
On the basis of molecule type, the market is segmented into small molecules and large molecules. Large molecules have the highest demand owing to the higher response rate of in sterile injectable drugs. Increased demand for easy to handle unique drug delivery system of injectable drugs, primarily that cater to self-administration of medicines is fuelling demand for sterile drugs market. The driver is prominent in countries that have exorbitant caregiving charges such as Nordics, Germany, and the U.S.
Based on drug type the market is segmented as monoclonal antibodies (mAbs), cytokines, insulin, peptide hormones, vaccines, immunoglobulins, blood factors, peptide antibiotics and others. Others drug type segment is expected to have the highest demand due to the higher utilization rate in sterile injectable drugs such as opioid analgesics, general and local anesthetics etc.
Based on application, the market is segmented into cancer, diabetes, cardiovascular diseases, musculoskeletal, CNS, infections and others. Others application type segment is expected to have the highest market share. Cardiovascular diseases segment is projected to be the fastest growing segment and expected to register a CAGR of 9.2% throughout the period of forecast.
Based on route of administration the market is segmented as intravenous, intramuscular (IM), Subcutaneous (SC) and others. Intravenous is the most common route of administration of sterile injectable drugs. The intravenous route of administration is largely adopted and this segment is thus expected to lead the market with a high market valuation and growth rate.
Based on distribution channel the market is segmented in to hospital pharmacies, retail pharmacies and online pharmacies. Hospital pharmacies is said to hold major market share and registering CAGR of 7.2% in terms of value, over the forecast period owing to the increasing focus of availability. The online pharmacies segment is poised to be the fastest growing segment in the coming years.
On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia-Pacific, and the MEA. North America region dominated the sterile injectable drugs which is estimated to measure around 35% of the global market in 2016 and is expected to continue to dominate the overall market, partly due to the high awareness for self-administration of injectable drugs and entry of players into the market by launching different products. Conducive business environment in emerging markets such as Asia Pacific and surge in local production of generic injectable are the factors responsible for the highest growth of Asia Pacific sterile injectable drugs market. It is projected to register a high CAGR of 8.9% throughout the period of forecast.
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Global Sterile Injectable Drugs Market: Competitive Analysis
Global sterile injectable drugs is highly fragmented owing to the presence of various companies such as Baxter International Inc., Sanofi S.A., GlaxoSmithKline plc., AstraZeneca Plc., Merck & Co., Inc., Novartis AG, Pfizer Inc., GILEAD SCIENCES, INC., Johnson & Johnson Services, Inc. and hameln group gmbh. Key players are focusing on strengthening their position by acquiring small but established manufacturers of sterile injectable and developing manufacturing capabilities to achieve economies of scale.