Impact Covid-19 Analysis On Sterile Injectables Market by Manufacturers to Expand 2021 | Baxter International Inc., AstraZeneca plc, Merck & Co., Inc, Novartis AG, Johnson & Johnson Services, Inc., Gilead Sciences, Inc
Moreover, in July 2016, Claris Lifescience Ltd., a sterile injectables company received the Abbreviated New Drug Application (ANDA) approval in U.S. for Tobramycin Injection USP, 80mg/2ml, and 1200mg/ 30ml multiple dose vials. Increasing demand for sterile injectables has motivated the manufacturers to expand their offering of sterile injectables, for which manufacturers are focusing to expand their sterile injectables market by opening new manufacturing facilities.
For instance, in July 2019, Mapi Pharma Ltd., an integrated, late-stage clinical development biopharmaceutical company, has entered into a lease agreement at the Har-Hotzvim Hi-Tech Park in Jerusalem for establishing a new sterile production plant for Glatiramer Acetate (GA) depot long action injectable.
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Key players in the market are focused on adopting inorganic growth strategies such as acquisitions, in order to expand their portfolio of sterile injectables. For instance, in July 2017, Baxter International Inc., a global medical product company acquired Claris injectables Ltd., a wholly owned subsidiary of Claris Lifesciences Ltd, a global generic injectables pharmaceutical company. Through this acquisition both the companies Baxter and Claris Injectables will provide access to lower-cost generic injectables and will help Baxter to meet the unmet needs of healthcare providers and patients around the world.
Moreover, in July 2019, Civica Rx, a hospital-owned nonprofit generic drug company, entered into a five-year agreement with Hikma Pharmaceuticals to manufacture and supply 14 sterile injectables medications. These 14 sterile injectables include general injectables used by hospitals and in emergency care, or used in surgery, pain management, and to treat hypertension.
Key takeaways of the Global Sterile Injectables Market:
The global sterile injectables market is expected to exhibit a CAGR of 7.3% during the forecast period (2019–2027), owing to increasing product launches, product approvals and mergers and acquisitions of sterile injectable companies
Increasing demand of generic sterile injectables due to high availability of products at affordable cost by manufacturers for the treatment of chronic diseases is expected to drive the global sterile injectables market growth over the forecast period.
High global prevalence of cancer, diabetes type 2, cardiovascular disease, and infectious diseases such as tuberculosis and malaria are the major therapeutic applications for sterile injectables, which is expected to drive market growth over the forecast period.
For instance, according to National Cancer Institute in 2012, around 14.1 million new cases reported of cancer and 8.2 million deaths sue to cancer observed worldwide.
Some of the major players operating in the global sterile injectables market include Baxter Inc., AstraZeneca Plc, Merck & Co. Inc, Novartis AG, Johnson & Johnson Services, Inc., Gilead Sciences, Inc., JHP Pharmaceuticals, Pfizer Inc., Fresenius Kabi Ag, CordenPharma, and Hikma Pharmaceuticals PLC.
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