The global sterile injectable contract manufacturing market is poised for remarkable growth, with an anticipated market size of US$30 billion by the end of 2030, according to the latest market analysis. The market is set to experience a robust compound annual growth rate (CAGR) of 12% during the forecast period from 2023 to 2030.
The surge in demand for sterile injectables has propelled the expansion of outsourcing agreements between contract manufacturers and original drug sponsors. Several factors, including rapid drug absorption, reduced risk of drug degradation, faster drug action, and lower drug concentration, are driving the demand for commercial injectable doses.
Pharmaceutical companies, particularly those focusing on injectable manufacturing, are gaining traction by providing development support for large molecule injectable drugs, monoclonal antibody therapies, and drugs treating infectious diseases. Furthermore, shorter and more cost-effective research and development cycles for generic injectables and advancements in treatment options for rare diseases contribute to the global growth of injectable contract manufacturers.
Key Report Findings:
- The sterile injectable contract manufacturing market is expected to undergo significant expansion in revenue from 2023 to 2030.
- The small molecule segment dominates the market due to widespread use, established production processes, and high demand for large-scale manufacturing.
- The intravenous (IV) mode of application holds the largest market share, thanks to its efficiency in delivering rapid and precise treatments, particularly in critical and time-sensitive medical conditions.
- North America leads the market, while Asia Pacific is expected to experience the strongest growth until 2030.
Growth Drivers:
- Growing Pipeline and Approvals of Injectables: The increasing pipeline and approvals of injectable drugs are major drivers of the sterile injectable contract manufacturing industry. Pharmaceutical companies are developing injectable drugs due to their advantages, including faster onset of action, precise dosing, and improved patient compliance.
- Increasing Demand For Cell & Gene Therapies: The rising demand for cell and gene therapies is another driving force behind the markets growth. As the pipeline of these therapies expands, there is a growing need for specialized manufacturing capabilities, which contract manufacturing organizations (CMOs) can provide.
Overview of Key Segments:
- Small Molecule Category Leads its Way: The small molecule segment captures the largest market share due to the widespread use and established nature of small molecule drugs. This segment is expected to maintain its dominant position.
- IV Administration Route Remains Preferred: The intravenous (IV) route of administration continues to capture the largest market share due to its advantages in delivering rapid and precise treatments.
Growth Opportunities Across Regions:
- North America Holds a Commanding Share: North America dominates the market, benefiting from a well-developed pharmaceutical and biotechnology industry, a favorable regulatory environment, and a strategic geographical location.
- Asia Pacific Develops a Lucrative Market: Asia Pacific is expected to grow significantly, driven by a growing pharmaceutical market, cost advantages, and supportive government policies.
Challenges Related To Quality Control:
Challenges related to quality control present significant restraints to the growth of the market. Ensuring stringent quality standards throughout the manufacturing process is crucial for patient safety and regulatory compliance.
Sterile Injectable Contract Manufacturing Market: Competitive Landscape:
Key players in the sterile injectable contract manufacturing market include Catalent, Inc., Grifols S.A., Aenova Group, Vetter Pharma, Recipharm AB, Baxter, Boehringer Ingelheim, Fresenius Kabi, Unither Pharmaceuticals, Famar, Cipla Ltd., and NextPharma Technologies.
Global Sterile Injectable Contract Manufacturing Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -(By Molecule Type Coverage, By Therapeutic Application Coverage, By Route of administration Coverage, By Geographic Coverage and Leading Companies) https://www.fairfieldmarketresearch.com/report/sterile-injectable-contract-manufacturing-market
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COMTEX_440910070/2840/2023-09-25T13:12:26
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