Press release
Sterile Injectable Market Size, Share, Industry, Forecast (2024-2031)
Sterile Injectable Market
The Sterile Injectable Market is poised to grow at a CAGR of 9.10% during the forecast period of 2024-2031. These medications, administered using needles and syringes or intravenous sets, play a vital role in modern healthcare, offering sterile delivery of drugs directly into the body.
Market Dynamics:
Rising Chronic Diseases Prevalence: The global market is driven by the increasing incidence of chronic diseases, with approximately 133 million Americans affected in 2016, projected to grow to 157 million by 2020.
Technological Advancements: Investments in advanced sterile injectable production facilities, such as Pfizer's USD 465 million investment in Portage, Michigan, enhance the market's growth potential.
FDA Inspection Improvements: New FDA inspection protocols, like the New Inspection Protocol Project (NIPP), aim to enhance the quality of sterile injectable drugs through standardized electronic inspections, promoting consistent oversight and faster analyses.
Drug Shortages: Shortages of sterile injectable drugs, often due to FDA enforcement actions for non-compliance with manufacturing standards, can hamper market growth. For instance, Pfizer faced shortages affecting 370 products due to compliance issues in 2018.
For more Insights: https://www.datamintelligence.com/download-sample/sterile-injectable-market
Market Segmentation:
By Application: Segments include oncology, cardiovascular diseases, infectious diseases, diabetes, and others. The oncology segment is expected to grow rapidly, driven by increasing cancer cases and expansion of production sites for oncology products.
Geographic Analysis:
North America: Dominating the market in 2017, North America is projected to maintain growth, fueled by increased production sites for generic sterile injectables. For instance, Fresenius Kabi invested USD 250 million to expand its U.S. site in 2017.
To access the complete report: https://www.datamintelligence.com/research-report/sterile-injectable-market
Competitive Landscape:
Key players like Endo International plc., Nevakar Inc., and Mithra are driving market growth through expansions, acquisitions, and product launches. For example, Endo International plc. acquired Somerset Therapeutics, LLC, and entered into licensing agreements for sterile injectable product development.
This comprehensive analysis provides insights into the dynamics, trends, and key factors shaping the Sterile Injectable Market, offering valuable perspectives for stakeholders in the healthcare sector.
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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