It is estimated that the Sterile Injectable Drugs Market will grow at a CAGR of 10.3% in the period of 2019 and 2024. Drugs which are injected with the help of a needle and a syringe through the skin into the body will directly mix up with the bloodstream. Sterile injected drugs usually reduce the spread of bloodborne pathogens. They prevent risk from infectious diseases and also allow to not sharing the needles. In-fact sterile injectable drugs reduce the harm from serious diseases and increase the chance a the better health condition.
The main factors driving the market are increasing incidences of infectious diseases and shifting trend towards modern medication than following traditional drugs with growing awareness. In addition, rising support from the government so as to increase the productivity of drugs and also to promote health benefits for the public is escalating the demand of the market.
However, lack of sufficient knowledge in the utilization of these drugs for staff is straightforwardly restricting the growth of the market. Fluctuations in the prices of the medicines have remained as a challenging factor for the market developers.
Introduction of various products with the latest technological developments are greatly influencing the market growth further. The growth opportunities for the market lie in the rising research and developments in biomedical technology to manufacture large molecules of medicines for the treatment of chronic diseases.
Based on the type, the market is segmented into large molecules and small molecules. Large molecules segment is projected to grow at a higher rate over the forecast period.
On the basis of indication, the market is divided into comprises musculoskeletal disorders, neurology, oncology, autoimmune, contagious diseases, cardiology and metabolic disorders, and others. Comprises musculoskeletal disorders category is propelled to have the highest shares of the market.
North America Sterile Injectable Drugs Market predicted to continue its dominance
Geographically, the sterile injectable drugs market is segmented into Asia Pacific, North America, Europe, the Middle East, and Africa. North America is accounted to lead the largest shares of the market from the past decade and is also to continue the same growth over this period. Rise in the scale of healthcare centers and also increased awareness programs in rural areas are prompting the demand of the market in this region. The Asia Pacific and Europe are following North America to hold the prominent shares of the market by owing to acceptance of advanced technology. The Middle East & Africa is esteemed to have the highest growth rate in the near future.
Leading players in the market
The major players involved in the sterile injectable drugs market are GlaxoSmithKline PLC, Baxter International Inc., AstraZeneca, Johnson & Johnson Services, Inc., Sanofi, Merck & Co., Inc., Gilead Sciences Inc., Pfizer Inc., Novartis AG, and Nova Nordisk A/S.
This research report includes the following segmentation for the Global Sterile Injectable Drugs Market size and forecast 2024
Sterile Injectable Drugs Market Analysis - By Molecule Type
- Small Molecule
- Large Molecule
Sterile Injectable Drugs Market Analysis - By Drug Class
- Blood Factors
- Peptide Hormone
- Monoclonal Antibodies (mAbs)
- Other Drug Classes
Sterile Injectable Drugs Market Analysis - By Application
- Cardiovascular Diseases
- Autoimmune Diseases
- Infectious Diseases
- Other Applications
Sterile Injectable Drugs Market - By Region
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa
Key takeaways from the report:
- Analysis of the current and future trends and growth potential of the market during the forecast period
- Evaluate market potential in terms of growth rates (CAGR), Value (USD) and Volume (Units) sales at country level across various segments of the market
- Understand the market dynamics and key influencers in terms of driving factors and opportunities of the market. Also, restraints and challenges that the industry has to endure
- Insights on competitor performance with a benchmarking analysis of their market position, financials and more
- Profiles of key market players providing a comprehensive understanding of their product portfolio, SWOT analysis, and growth strategies
- Information on key events in the recent past which includes mergers & acquisition, new product launches, collaborations, deals, and other agreements
- Analysis of the supply-demand gap, import-export statistics, and other key market insights for more than 20 countries globally
- Gauge the competition in the industry with Porter's five force analysis understanding the threat from new entrants and substitute products.
- Understand the effects of macro-level environment factors through the PESTLE analysis, providing a detailed assessment of the external factors that have an impact on the industry
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising R&D Focus on Development of Biotechnology-Engineered Anti-cancer Drugs
4.2.2 Rapid Growth in the Usage of Pre-filled Syringes for Biologic Products
4.2.3 Increased Outsourcing Activities Across Value Chain Expected to Boost Supply of Injectable Products
4.3 Market Restraints
4.3.1 High Expenses Associated with Inventory Management
4.3.2 Stringent Regulatory Requirement for High-end Machinery
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Molecule Type
5.1.1 Small Molecule
5.1.2 Large Molecule
5.2 By Drug Class
5.2.1 Blood Factors
5.2.3 Peptide Hormone
5.2.5 Monoclonal Antibodies (mAbs)
5.2.7 Other Drug Classes
5.3 By Application
5.3.3 Cardiovascular Diseases
5.3.4 Autoimmune Diseases
5.3.5 Infectious Diseases
5.3.7 Other Applications
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.4.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Novo Nordisk A/S
6.1.2 Amgen Inc.
6.1.4 Gilead Sciences Inc.
6.1.5 GlaxoSmithKline PLC
6.1.6 Johnson & Johnson
6.1.7 Merck & Co. Inc.
6.1.8 Novartis AG
6.1.9 Pfizer Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS