Sterile Injectable Drugs Market is anticipated to grow at a double-digit CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Sterile Injectable Drugs Market -Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the sterile injectable drugs market is estimated to be over US$ 500.0 billion in 2019. It is anticipated to grow at a double-digit CAGR from 2019 to 2030.
The continual growth of the sterile injectable drugs market can be attributed to several factors that have led to the wide scale adoption of these drugs for treatment and speedy recovery. Moreover, growing demand for these drugs for treatment of chronic disease across the globe is anticipated to further contribute to the substantial growth during 2019 and 2030. To obtain better insights into the market scenario, prominent players are increasingly focusing on collaborative initiatives. In 2015, Pfizer acquired Hospira, a provider of infusion technologies, injectable drugs, and biosimilars. In 2018, Endo acquired Somerset Therapeutics, a developer and marketer of ophthalmic drug sterile injectable.
The rising prevalence of chronic diseases has significantly promoted the need for new and more efficient drugs for treatment purposes. Moreover, rapid FDA approval of sterile injectable drugs and rising government funds for developments of healthcare sector are also propelling the growth of the global sterile injectable market growth.
Factors such as affordability, convenience, safety, and accurate dosage creates convenience for doctors and patients, which inturn has played a crucial role in driving the growth of the global sterile injectable market. Moreover, the drug is injected in the body via syringes and needles which is more effective when compared with oral medicines. This leads to a speedy recovery from diseases owing to which patients have to spend lesser time in hospitals. All these factors have been significant in contributing to the rising demand for sterile injectable drugs.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Sterile Injectable Drugs Market By Molecule Type (Small Molecule & Large Molecule), Drug Class (Monoclonal Antibodies (mAbs), Immunoglobulin, Vaccines, Blood Factors, Cytokines, Peptide Hormones & Insulin), Indication (Neurology, Oncology, Cardiovascular Diseases, Autoimmune Disorders, Musculoskeletal Disorders, Infectious Disorders & Cancer), Route of Administration (Subcutaneous (SC), Intravenous (IV) & Intramuscular (IM)), Distribution Channel (Hospital Pharmacy, Retail Pharmacy & E-Commerce) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/sterile-injectable-drugs-market/165
The production cost of sterile injectable drugs is higher as compared to others, owing to strict government regulations & manufacturing practices which in turn, increases cost of production of these drugs.
North America is anticipated to dominate the market in 2019, owing to factors such as better healthcare infrastructure and the rising prevalence of chronic diseases. Factors such as higher adoption of drugs by patients, better awareness among patients have also played a major role in driving growth of this market in the region. The Asia Pacific region is expected to account for the highest CAGR during the forecast period owing to the rising prevalence of chronic disease (especially cancer) and increasing funds from governments for the development of healthcare infrastructure.
Some prominent players in Sterile Injectable Drugs market include Johnson & Johnson Services, Inc., Sanofi, Novo Nordisk A/S, Pfizer Inc., AstraZeneca, Merck & Co., Inc., Johnson & Johnson Services, Inc., GlaxoSmithKline plc., Gilead Sciences, Inc., Baxter, and others.
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