The global sterile injectable drugs market is prophesied to achieve growth on the back of short timelines for approval of new drugs to be used in the treatment of chronic diseases such as cancer. The Food and Drug Administration (FDA) in the U.S. is observed to approve sterile injectable drugs at a faster rate. While this could provide a good boost to the market, other factors such as snowballing focus on the research and development of anti-cancer drugs and increasing number of chronic and cardiovascular diseases are anticipated to set the tone for a valuable growth in the near future.
The global sterile injectable drugs market is expected to expand at a CAGR of 11.1% between 2017 and 2025 to secure a valuation of US$901.3 bn by the completion of the forecast tenure. In 2017, the market accomplished a valuation of US$387.1 bn.
Regionally, it could be said that North America and Europe dominated the international sterile injectable drugs market in 2016 with a sizable aggregate share. However, North America took the lead in the market during the year, and is prognosticated to continue to gain traction in the coming years. With an 89.1% share bagged in 2016, the U.S. outplayed other countries in the region while riding on comprehensive research and development, technological advancements, and the rising need to manage and treat chronic diseases.
Treading on the heels of North America and Europe, Asia Pacific (APAC) is envisioned to showcase a faster growth in the international sterile injectable drugs market, mainly on the back of countries such as China, Japan, and India. Some of the factors that could augment market growth in APAC are rising awareness, high count of patients, promising policies, and new product launches. In Latin America, Brazil could secure a good share of the international market while riding on continuous investments in healthcare infrastructure and recent economic development.
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The worldwide sterile injectable drugs market could include leading companies such as Science, Inc., Gilead, AstraZeneca, GlaxoSmithKline plc, and Pfizer Inc.