Sterile Injectables Market Set to Grow at a CAGR of 7.3% During the Forecast Period 2023-2030

The global sterile injectables market is poised to reach US$ 552 Bn by 2023 with CAGR of 7.3% during the forecast year 2023-2030 The increased adoption of advanced injection formats like Prefilled Syringes and Auto injectors 

The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

Owing to rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular disease, and others. According to WHO statistics, non-communicable diseases amount to 38 Mn deaths per year. Moreover, rising biologic product pipeline, increased production of generic sterile injectables, coupled with technological advances in formulation and packaging methods are driving market revenue growth of sterile injectables across the globe. However, complex nature of manufacturing process, stringent regulatory environment, and frequent drug shortages are hampering the growth of sterile injectables market.

Global sterile injectables market segmented on the basis of molecule type, drug type, disease indication, route of administration, distribution channel, and geography

Large Molecules Accounted for Higher Revenue Share

Based on molecule type sterile injectables market segmented into small molecules and large molecules. Larger molecules accounted for larger revenue share in 2016 and projected to dominate over the forecast period. However, small molecules projected exhibit higher growth compared with large molecules, which is mainly, attributed increased small molecules development and adoption in cancer.

North America Leads the Global Sterile Injectables Market

PBI's sterile injectables market report analyses the market in different geographies such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2012-2016 and the same trend is projected to follow over 2017-2023. Asia-Pacific region projected to exhibit highest growth among all regions owing to patent expiries and rising regulatory compliance in developing nations.

M&A, Partnerships, and collaborations are the Key Strategies Adopted by Market Players

Sterile injectables market further reveals that the key players increasingly adopting M&A, Partnerships, and collaborations strategies to improve economies of scale by increasing manufacturing capacities and gaining significant geographic presence across the regions. For instance, In 2015 Pfizer Inc. acquired Hospira, Inc., world's leading provider of injectables and infusion technologies to strengthen Pfizer€™s Global Established Pharmaceutical (GEP) business across the globe.

Key players profiles in the report are AbbVie Inc. (U.S), Amgen Inc. (U.S), AstraZeneca plc (U.K), Baxter International Inc. (U.S), Eli Lilly and Company (U.S), GILEAD SCIENCES, INC. (U.S), GlaxoSmithKline plc. (U.K), Johnson & Johnson Services, Inc. (U.S), Merck & Co., Inc. (U.S), Novo Nordisk A/S (Denmark), Novartis AG (Switzerland), Pfizer Inc. (U.S), F. Hoffmann-La Roche AG (Switzerland), and Sanofi (France)