- Small Volume Products
- Large Volume Products
- Lyophilized Products
Sterile Injectable Contract Manufacturing Market size was valued at USD 393.4 million in 2021 and is expected to grow at a CAGR of 7.5% during the forecast period 2022 to 2028. The global market provides a detailed overview of the global sterile injectable manufacturing market, and that can be segmented by product type, by service type, by drug type, and by therapeutic area. By product type, the global sterile injectable manufacturing market has been segmented into Small Volume Products, Large Volume Products, Suspensions, Lyophilized Products, Others. The Small Volume Products segment is likely to be the largest and fastest-growing segment in terms of type. Based on service type, the global sterile injectable manufacturing market is segmented Formulation, Analytical Services, Packaging, Others. Among these, the Formulation segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on drug type, the global sterile injectable manufacturing market is segmented into Cytokines, Monoclonal Antibodies, Vaccines, Insulin, Peptide Hormones, Antibiotics, Others. The Vaccines segment accounts for the largest share in 2021. Based on the therapeutic area, the segment has been segregated into Diabetes Therapeutics, Cancer, Infectious Diseases, Neurological Diseases, Cardiovascular Diseases, Musculoskeletal Diseases, Others. The Cancer segment is expected to dominate other segments in the global sterile injectable manufacturing market. The Infectious Diseases segment is expected to witness the highest CAGR during the forecast period according to precision business insights. Global contract manufacturing is increasing at high CAGR due to regulations, manufacturing costs, high demand for sterile injectable products. It is anticipated that the global market will grow at a faster pace in the forecasted years.
Fastest Growing Market
Increasing trend of outsourcing, cheaper manufacturing costs in Asia Pacific region, and stringent regulations are anticipated to propel the market growth over the forecast years. Moreover, the increasing demand in nonlarge companies and less manufacturing capacity are burgeoning the market growth over the forecast years.
Sterile injections are capturing the market of solid dosage form which may be lucrative for outsourcing market in the forecasted years.
Manufacturing costs in Asia Pacific region is much cheaper than North America and Europe. This is the key opportunity for outsourcing manufacturing process of sterile injectable products.
Demand for prefilled syringes is growing at a significant rate which will drive the global market. However, the high cost of prefilled syringes may hamper the market growth.
The stringent regulations regarding approval of products are hampering the global market growth.