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Vasopressin Market: Future Insights on Demand and Developments for 2024
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According to The Business Research Company's, The vasopressin market size has grown rapidly in recent years. It will grow from $1.21 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to increased senior population, hospital and healthcare infrastructure development, increased prevalence of autonomic dysreflexia, increased consciousness among medical professionals, and high prevalence of chronic diseases.
The vasopressin market size is expected to see rapid growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to growing prevalence of diabetes insipidus, improvements in medication delivery systems, enhanced knowledge and diagnosis, research and development initiatives, and increasing awareness about diabetes. Major trends in the forecast period include technological developments in manufacturing, innovations in formulations and delivery techniques, personalized approach for multimodal treatment is new therapeutic approach, focus on health and wellness, and personalization and customization.
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Market Drivers and Trends:
The growing prevalence of diabetes is expected to propel the growth of the vasopressin market going forward. Diabetes is a chronic medical condition characterized by elevated glucose (sugar) levels in the blood, resulting from the body's inability to produce or effectively use insulin. The prevalence of diabetes is due to increasing obesity rates, stress and mental health, and genetic factors. Vasopressin is crucial in managing central diabetes insipidus, as it helps restore average water balance and alleviate the symptoms of excessive urination and thirst. For instance, in December 2021, according to the International Diabetes Federation, a US-based intergovernmental organization, approximately 537 million adults (20-79 years old) are suffering from diabetes 2021, which is expected to reach 643 million by 2030, and 783 million by 2045. Therefore, the growing prevalence of diabetes is driving the vasopressin market.
Major companies operating in the vasopressin market are developing innovative products, such as pre-mix ready-to-use (RTU) injection bottles, to enhance convenience, ensure precise dosing, and improve patient safety by reducing the risk of preparation errors and contamination. Pre-mix ready-to-use (RTU) injection bottles are a significant innovation in the pharmaceutical industry, particularly for medications such as vasopressin. For instance, in February 2022, Endo International plc, a US-based pharmaceutical company, launched VASOSTRICT (vasopressin injection, USP) in ready-to-use 100 mL pre-mix bottles, marking the first and only ready-to-use formulation of this medication. This new VASOSTRICT formulation boasts a two-year shelf life, with up to 12 months at room temperature, offering improved inventory management alongside the other benefits of a ready-to-use presentation. It is supplied as a clear, practically colorless solution for intravenous administration. It is available in single-dose vials containing 20 units per mL and in multiple-dose vials containing 200 units per 10 mL (20 units per mL).
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Major Key Players of the Market:
Pfizer Inc., Merck KGaA, Baxter International Inc., Otsuka Pharmaceutical Co. Ltd., Aurobindo Pharma Limited, Dr. Reddys Laboratories Ltd., Apotex Inc., Amneal Pharmaceuticals Inc., Endo Pharmaceuticals Inc., Mallinckrodt Pharmaceuticals Inc., Ferring Pharmaceuticals, Amphastar Pharmaceuticals Inc., Bachem Holding AG, Eagle Pharmaceuticals Inc., Par Pharmaceutical Holdings Inc., Athenex Inc., Soho-Yiming Pharmaceuticals Co. Ltd., Nordic Pharma Inc., Cumberland Pharmaceuticals Inc., Laboratorio ELEA S.A.C.I.F. y A., Fresenius Kabi Canada Ltd., AMOMED Pharma GmbH, BCN Peptides SA, Hainan Zhonghe Pharmaceutical Co. Ltd., Denovo Biopharma LLC
Vasopressin Market 2024 Key Insights:
• The vasopressin market size is expected to see rapid growth in the next few years. It will grow to $2.37 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Increasing Diabetes Cases Boost Vasopressin Market Growth
• Vasopressin Market Innovates With Ready-To-Use Formulations For Diabetes Insipidus Care
• North America was the largest region in the vasopressin market in 2023
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