The Sterile Injectables Market is estimated to be valued at US$ 213 Bn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sterile injectables are sterile pharmaceutical preparations that can be administered parenterally into the body without causing contamination. Sterile injectables are administered via different routes such as intravenous, intramuscular, and subcutaneous. They provide fast acting delivery of drugs inside the body and are widely used in hospitals and specialty clinics.
Market key trends:
Increased need in hospitals and specialty clinics is estimated to drive the growth of sterile injectables market. Sterile injectables are majorly used in critical healthcare settings such as hospitals and specialty clinics for delivery of vaccines, antibiotics, analgesics and others. With rising prevalence of chronic diseases and increasing patient pool in hospitals, the demand for sterile injectables from these end users is expected to increase significantly during the forecast period. Furthermore, growing number of specialty clinics for treatment of cancer, diabetes and other disorders will also augment the growth of this market.
Porter’s Analysis
Threat of new entrants: The sterile injectables market requires substantial capital investment for establishing manufacturing facilities. Stringent regulations further increase entry barriers in this market.
Bargaining power of buyers: The presence of many established pharmaceutical companies gives buyers strong negotiating power to demand lower prices. However, need for essential sterile injectables limits their power.
Bargaining power of suppliers: Key raw material suppliers possess some bargaining power given the specialized nature of materials required. However, availability of substitutes restricts the exercise of power.
Threat of new substitutes: Threat from new substitutes is moderate as sterile injectables have few therapeutic alternatives for certain critical care drug categories.
Competitive rivalry: Intense due to many global and local manufacturers chasing market share.
SWOT Analysis
Strengths: Wide range of products, established supply chains, strong brand recognition for major players.
Weaknesses: High manufacturing costs, regulatory compliance complexities.
Opportunities: Rising incidence of chronic diseases, growing injectables market, increasing healthcare spending in developing nations.
Threats: Price erosion due to low-cost generics, manufacturing quality issues can impact brand value.
Key Takeaways
The global Sterile Injectables Market Share is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing prevalence of chronic diseases. The sterile injectables market size for 2023 is US$ 213 Bn.
Regional analysis: North America dominates the sterile injectables market currently. However, Asia Pacific is expected to grow at the fastest pace during the forecast period, with China and India emerging as highly lucrative markets.
Key players operating in the sterile injectables market are Sun Pharmaceutical Industries Ltd, Aspen Holdings, LUPIN, Cipla Inc., Fresenius Kabi AG, AuroMedics Pharma LLC, Bausch Health Companies Inc., CSC Pharmaceuticals, Dr. Reddy’s Laboratories Ltd., Baxter, AstraZeneca, Merck Sharp & Dohme Corp., Novartis AG, Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Pfizer Inc., CordenPharma International, Hikma Pharmaceuticals PLC, Endo International plc.
Read More,
https://www.newsstatix.com/sterile-injectables-market-trends-size-and-share-analysis/
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