New York, NY -- (SBWIRE) -- 12/15/2017 -- "The global sterile injectable drugs market will potentially achieve the revenues worth US$ 657 Bn by the end of 2024. With a compound annual growth rate of more than 7%, the market is expected to experience promising growth prospects over an eight-year forecast period, 2016-2024."
In a recently published report outlook titled "Sterile Injectable Drugs Market: Global Industry Analysis and Forecast, 2016-2024," Persistence market Research projects the global market for sterile injectable drugs to witness healthy growth throughout the next eight years. Preponderance of chronic diseases, coupled with several technological advancement in novel drug delivery systems, will continue to generate the demand for sterile injectable drugs within the assessment period.
The report highlights a growing trend of small molecule injectable drugs gaining immense popularity. Moreover, fast-track FDA approvals for injectable drugs, increasing demand for injectable drug delivery, and rapid expansion of contract manufacturing facility, especially in European countries, will create attractive opportunities in near future.
The global Injectable Drugs market is segmented on the basis of expression system, product type, application, end user and region.
By molecule type, among the two key segments viz. small molecule and large molecule, large molecule segment will continue to dominate – despite facing a slight drop in terms of BPS through 2024. This segment will account for over 53% share of the market value in 2024. However, overall growth of both the segments will remain promising throughout the forecast period.
Based on drug type, 'others' segment including drugs used to treat mental health, autoimmune diseases, and respiratory disease, will retain dominance during the forecast period. This segment will witness a robust CAGR of over 8%. Monoclonal antibodies, vaccines, and insulin will be the next key segments. Insulin segment will experience the fastest growth through 2024, followed by vaccines segment.
On the basis of application type, 'others' segment that includes several chronic diseases, is expected to remain dominant by the end of 2024, crossing a value of US$ 200 Bn. CVDs, cancer, and diabetes are anticipated to be the next major segments, among which CVDs segment is slated for the fastest growth at a CAGR of 10%.
By route of administration, intravenous (IV) segment currently dominates with roughly 43% share of the market value. This segment will continue to dominate but subcutaneous, the second largest segment, will possibly witness the highest CAGR of 10%.
Depending on the distribution channel, hospital pharmacies are likely to continue their dominance over the period of forecast, accounting for the revenues beyond US$ 378 Bn in 2024. Online pharmacies will possibly gain the highest popularity, witnessing the fastest growth at a CAGR of over 9%.
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Summary of Table of Content
1. Executive Summary
2. Market Introduction
3. Global Sterile Injectable Drugs Market Analysis Scenario
4. Market Dynamics
5. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Molecules
6. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Drugs
7. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Application
8. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Route of Administration
9. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Distribution Channel
10. Global Sterile Injectable Drugs Market Analysis and Forecasts, By Region
11. North America Sterile Injectable Drugs Market Analysis and Forecast
12. Latin America Sterile Injectable Drugs Market Analysis and Forecast
13. Europe Sterile Injectable Drugs Market Analysis and Forecast
14. APEJ Sterile Injectable Drugs Market Analysis and Forecast
15. MEA Sterile Injectable Drugs Market Analysis and Forecast
16. Competition Landscape
17. Assumptions and Acronyms Used
18. Research Methodology
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About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.