Global Sterile Injectable Drugs Market: Snapshot
The global sterile injectable drugs market is prophesied to achieve growth on the back of short timelines for approval of new drugs to be used in the treatment of chronic diseases such as cancer. The Food and Drug Administration (FDA) in the U.S. is observed to approve sterile injectable drugs at a faster rate. While this could provide a good boost to the market, other factors such as snowballing focus on the research and development of anti-cancer drugs and increasing number of chronic and cardiovascular diseases are anticipated to set the tone for a valuable growth in the near future.
The global sterile injectable drugs market is expected to expand at a CAGR of 11.1% between 2017 and 2025 to secure a valuation of US$901.3 bn by the completion of the forecast tenure. In 2017, the market accomplished a valuation of US$387.1 bn.
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Monoclonal Antibodies Boasting of Monovalent Affinity Clutch Dominating Share
The world sterile injectable drugs market could be segmented as per geography, distribution channel, indication, drug class, and type. In terms of type, the market could see a classification into large molecule and small molecule. Amongst these, large molecule is projected to achieve a higher growth in the coming years.
On the basis of class of drug, there could be segments such as peptide antibiotics, blood factors, immunoglobulins, vaccine, peptide hormones, insulin, cytokines, and monoclonal antibodies (mAbs) offering growth in the world sterile injectable drugs market. Out of these, mAbs are predicted to exhibit a stronger growth in the foreseeable future. Forecast to be followed by the segments of insulin and vaccines, mAbs accounted for an over 26.0% share in 2016. The ability to bind to the same epitope with the help of monovalent affinity could be an exclusive feature of mAbs supporting the segment to secure a larger share in the market. Furthermore, mAbs could carry drugs and help to trigger the immune system.
With respect to indication, the world sterile injectable drugs market could be segmented into infectious diseases, pain, hematology, gastroenterology, autoimmune, oncology, neurology, and cardiology and metabolic disorders. By distribution channel, the market is envisaged to be cataloged into ecommerce, retail pharmacy, and hospital pharmacy.
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North America Banks on Extensive Research and Development for Global Lead
Regionally, it could be said that North America and Europe dominated the international sterile injectable drugs market in 2016 with a sizable aggregate share. However, North America took the lead in the market during the year, and is prognosticated to continue to gain traction in the coming years. With an 89.1% share bagged in 2016, the U.S. outplayed other countries in the region while riding on comprehensive research and development, technological advancements, and the rising need to manage and treat chronic diseases.
Treading on the heels of North America and Europe, Asia Pacific (APAC) is envisioned to showcase a faster growth in the international sterile injectable drugs market, mainly on the back of countries such as China, Japan, and India. Some of the factors that could augment market growth in APAC are rising awareness, high count of patients, promising policies, and new product launches. In Latin America, Brazil could secure a good share of the international market while riding on continuous investments in healthcare infrastructure and recent economic development.
The worldwide sterile injectable drugs market could include leading companies such as Science, Inc., Gilead, AstraZeneca, GlaxoSmithKline plc, and Pfizer Inc.