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(EuropeNewsWire.Net, May 16, 2018 )
The growing market of Sterile Injectable
Global Sterile Injectables Market: Global Sterile Injectable hold an important place in the drug consumer department. Injectable are sterile as they are in direct contact with the human body. Sterile injectable are high-cost and require high quality of aseptic conditions for the production of sterile production. This report covers the sterile injectable market as a whole, where and how they are used.
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Global Sterile Injectable market is categorized into-
1. Molecule type
• Large molecules
• Small molecules
2. Drug type
Cytokines, insulin, peptide hormones, blood factors, vaccines, immunoglobulins, peptide antibiotics, monoclonal antibiotics and others
3. Disease indicator
Diabetes, cardiovascular diseases, CNS infections, Cancer, musculoskeletal and others
4. Route of administration
Intravenous (IV), intramuscular (IM), subcutaneous (SC) and others
5. End users
Hospital pharmacies, retail pharmacies, online pharmacies, etc.
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And lastly, it is divided on the basis of geographical market regions- North America, Latin America, Asia-Pacific, the Middle East & Africa and Europe. This report emphasizes the past, present and future market opportunities depending on drug types, drug molecules, route of administration, end users and geographical regions. The report identifies current trends, future chances and possible challenges to existing stakeholders to operate in the market. The factors such as unmet needs of suppliers, newer technologies from the manufacturers and marketers, etc. are driving force to flourish sterile injectable market.
Globally, North America holds the largest share of the sterile injectable market. Apart from that, Asia-Pacific and Europe are showing better opportunities for the sterile injectable market owing to the demand of the product and increasing local production which helps in lowering the production cost. The sterile injectable market had an estimated value of US$ 361Bn in 2016 and continue to grow the CAGR at 7.3% rate. The sterile injectable market is expected to reach US$ 552Bn by 2023. Based on the molecular type, large molecules captured largest market share in 2016 and oncology department is expected to be the most profitable market in the global sterile injectable market whereas hospital pharmacies account for the main consumer for the sterile drug administration across the globe.
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Due to the elevated impact of pharmaceuticals and biotechnology-based companies towards the development of diseases such as Diabetes, CVS, CNS, cancer, etc. have created tremendous growth in the sterile injectable market. Also, drugs based on biologics from several drug developers which are under process will have a huge positive effect on the sterile injectable market. To support that there are about 2500 injectable products in the developmental stage. Also with increasing number of patent expiration of some important drugs is expected to boom the market growth.
According to the industry experts, the high cost involved in the production of sterile injectable is far more as compared to non-sterile manufacturing plants, this is due to complex manufacturing process and rigid, demanding aseptic conditions. Also, low-cost manufacturers, value chain integration coupled with high entry barrier for new players in the sterile injectable market is expected to hamper the market growth. Some key players in the global sterile injectable market are- AbbVie Inc. (U.S), Amgen Inc. (U.S), Baxter International Inc. (U.S), Eli Lilly and Company (U.S), Merck & Co., Inc. (U.S), Johnson & Johnson Services, Inc. (U.S), Novo Nordisk A/S (Denmark), Sanofi (France), Pfizer Inc. (US), etc. To improve their market position in sterile injectable market, market players are focusing on mergers and collaborations. For e.g. Baxter International Inc. gained Claris Injectable Limited (a subsidiary of Claris Lifesciences Limited), for a considerable amount of $625million and in 2015, Pfizer Inc. gained control over Hospira, Inc., world’s leading manufacturer of injectable and infusion technologies.
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