Sterile Injectables Market Industry Growth, Opportunity Analysis, and Industry Forecast till 2024

Key market players are undergoing strategic mergers, acquisitions, and collaborations in order to maintain leading position in global market and to tap the developing market. Baxter International completed acquisition of Claris injectable in 2017, which would expand footprint of Baxter in the global market and help company to leverage strength of Claris in developing market. Baxter International Inc. also entered into agreement with India-based Dorizoe Lifesciences in 2017, under which they would develop more than 20 generic injectable products to target infectious disease, oncology, and cardiovascular disease. This deal would combine manufacturing and distribution leadership of Baxter with research expertise of Dorizoe Lifescience. In September, 2017, Fresenius Kabi acquired the biosimilar business of Germany-based Merck KGgA. In 2015, Pfizer, Inc. acquired Hospira, Inc. which is one of biggest players in generic injectable market.

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Companies are also filing biosimilar application for branded drugs in order to attain growth in market. For instance, Fresenius Kabi in December 2017, submitted Marketing Authorization Application to European Medicines Agency (EMA) for MSB11022, which is a biosimilar candidate of Humira (adalimumab). Company also opened new production facility for injectable in Indonesia in 2017.

Generic sterile injectable products exhibit similar efficacy and safety profile as compared to the branded drugs, they offer cost advantage and better accessibility for end users. Generic sterile injectables market is witnessing upward growth majorly owing to increasing prevalence of chronic disease such as cardiovascular disease, cancer, diabetes, arthritis, COPD, and asthma. According to the World Health Organization factsheet 2018, cancer is the second leading cause of death worldwide, and around 8.8 million deaths were reported due to cancer in 2015, nearly 1 in 6 deaths worldwide. Lung, liver, colorectal, stomach, and breast are leading cancer types across the world. Injectable drugs are most effective against cancer in the form of monoclonal antibodies, cytokines, and immunoglobulins. Furthermore, off patenting of the major blockbuster biologic injectable drugs is creating opportunity for development of new generic injectable products into the market, owing cost-effective advantage offered by generic products. For instance, leading branded drugs such as Remicade, Humira, Cancidas, Invanz, and Cubicin, which were used for various indication went off patent in 2017.

Market Dynamics

Accessibility of broader treatment therapy choice and growing prevalence of chronic illnesses prominently cancer globally is likely to fuel market demand for sterile injectables s over the forecast period. The high demand for sterile injectables is also driven by a large number of drug manufacturers/producers concentrating on developing drugs to treat cancer. Fast-track regulatory approvals of sterile injectables and minimization of approval timelines for innovative drug development to cure cancer is indirectly helping accelerate the drug supply and is significantly fueling growth of the global sterile injectables market. High operative costs and abrupt termination of injectables drugs for cancer treatment is expected to hamper revenue growth of the market across the globe. Manufacturing of sterile products necessitate the high end equipment for manufacturing and also the equipment needs regulatory certification and sterilization before production process. Hence, these activities lead to high operating costs and high debt levels. Furthermore, the FDA has stringent regulations pertaining to sterilization of drug and equipment, which further adds to the cost burden of the manufacturer as it entails maintaining a high degree of care in the manufacturing, packaging, storage, and distribution of sterile injectables drugs.

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Sterile Injectables Market Taxonomy

Global Sterile Injectables Market, By Molecule Type :
Large Molecules
Small Molecules
Global Sterile Injectables Market, By Drug Type :
Monoclonal Antibodies (mAbs)
Cytokines
Insulin
Peptide Hormones
Vaccines
Immunoglobulins
Blood Factors
Peptide Antibiotics
Others
Global Sterile Injectables Market, By Therapeutic Application:
Cancer
Diabetes
Cardiovascular Diseases
Central Nervous Systems
Infectious Disorders
Musculoskeletal
Others
Global Sterile Injectables Market, By End User:
Hospitals
Drug Stores
Pharmacies
Online Pharmacies

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