STERILE INJECTABLES MARKET ANALYSIS

Sterile Injectables Market Size and Trends

Global sterile injectables market is estimated to be valued at USD 586.1 Bn in 2024 and is expected to reach USD 984.1 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

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Global sterile injectables market growth is driven by rising prevalence of chronic diseases worldwide. Furthermore, rising geriatric population who are more prone to develop chronic disease conditions can also boost demand for sterile injectables. Increasing demand for self-administered injectable drugs and rising investments in biologics from pharmaceutical companies worldwide can also drive the sterile injectables market growth. However, stringent regulations associated with development and production of injectables and high costs associated with biologics and sterile injectables development can hamper the market growth during the forecast period.

Rising Prevalence of Chronic Diseases

Rising prevalence of chronic diseases such as cancer, diabetes and cardiovascular diseases can drive the sterile injectables market growth. These chronic diseases usually require long term treatment and sterile injectables play a vital role in providing effective treatment to patients suffering from such conditions. Sterile injectables are widely used in delivering drugs for cancer treatment intravenously or subcutaneously. Many chemotherapy drugs that are used to destroy cancer cells are available only in injectable form. According to studies,  there will be increase in cancer cases in the near future  due to aging population and lifestyle changes across both developed and developing nations. This can boost demand for various oncology sterile injectable drugs. Sterile injectables have emerged as an indispensable mode of administration for treatment of diabetes. Insulin is used in the form of sterile injectable for diabetes patients. Growing prevalence of diabetes can boost demand for insulin sterile injectables. Increasing obesity levels and lack of physical activity can add more patients to the diabetes population pool necessitating glucose management via additional insulin doses. For instance, in May 2022, according to the article published by BioMed Central Journal, 26.7 million Indians were estimated to be cancer patients, and by 2025, that figure is expected to rise to 29.8 million. IDF reported that approximately 3.9 million French citizens had diabetes in 2022; and by 2030, that figure is expected to rise to 4.1 million, and by 2045, it is predicted to reach 4.2 million. Therefore, it is projected that rising prevalence of chronic illnesses can boost demand for safe and efficient injectable medications. 

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Increasing Biologics Uptake

Rising adoption of biologics like monoclonal antibodies, hormones and vaccines can drive the global sterile injectables market growth. Biologics have revolutionized the treatment of various severe medical conditions including rheumatoid arthritis, psoriasis, cancer and others due to their high specificity and efficacy. Their administration method relies heavily on sterile injectable delivery routes like intravenous or subcutaneous injections. Sterile injectables allow for sustained release of complex biologic molecules into the body over an extended period to achieve the desired therapeutic effect. Injectable biologics face less gastric acid destruction and enzymatic degradation issues compared to oral administration paths. These advantages have made sterile injectables the preferred formulation for biologics.