(PharmaNewsWire.Com, June 20, 2019 ) "Market Overview In the past one era of healthcare, biologics are increasingly becoming the driving forces of the pharmaceutical industry, and prefilled syringes have gained increased acceptance as delivery systems for injectable drugs in the treatment of chronic diseases. Prefilled syringes are mainly sterilized via autoclaving or by ionizing radiation. Their ease of administration and a greater degree of safety has increased the competition among the leading companies of injectable drugs. With the need for more convenient drug-delivery methods, they are becoming the fastest-growing choices for unit dose medication (minimizing dosing error), in order to reduce the drug waste and increase the product life span.
The prefilled syringes have increased utilization across a wide range of therapeutic areas, such as blood stimulants, therapeutic proteins, and vaccines. With the rapid growth of the emerging markets, there is an increasing demand for patient-friendly parenteral delivery systems. With growing new compounds list under new therapeutic classes, more complex technology is needed, along with higher investments. The European market is well developed when compared to the US region, due to the presence of big pharmaceutical players, such as Becton-Dickinson, Gerresheimer, Schott, among others. A rising focus toward development considerations, such as pistons, barrels, needles, and needle shields, along with the compatibility of the drug product with the barrel contact surface, is crucial for the quality of drug product. Thus, over the forecast period, a wide expansion of prefilled syringes are expected across the world, which is expected to drive the demand for sterile injectable drugs.
Scope of the Report As per the scope of the report, generic sterile injectable refers to biologics that are used for the treatment of various drugs and has same active ingredients to that of the branded versions of it, however, the inactive contents of the drugs can be varied. The sterile injectable drug market is gaining high importance in hospitals and clinics, with an increasing number of biologics, antibody-drug conjugates, and monoclonal antibodies in development, along with several injectable drugs under clinical trials status, globally.
Key Market Trends By Molecule Type, Large Molecule has the Highest Share in the Market
The large molecule is dominating the market due to the steady rise of biologics, orphan drugs, and precision medicines across the biopharmaceutical industry. Furthermore, in 2017, the US FDA drug approval hit a record high, in which biologics and gene therapies played a significant part. With the increasing approval rate of biologics, the demand for sterile injectable drugs is expected to rise significantly.
North America Region Holds the Largest Market Share of Sterile Injectable Drugs Market
North America dominates the Sterile Injectable Drugs market, owing to rapid developments in healthcare infrastructure, the presence of major players in the region, huge investments made in the research and development, and increased adoption of oncology-related drugs in hospitals to treat different cancers. Furthermore, the expansion of different companies to increase their production capacities is also drive the North American sterile injectable drugs market.
Competitive Landscape North America dominates the Sterile Injectable Drugs market, owing to rapid developments in healthcare infrastructure, the presence of major players in the region, huge investments made in the research and development, and increased adoption of oncology-related drugs in hospitals to treat different cancers. Furthermore, the expansion of different companies to increase their production capacities is also drive the North American sterile injectable drugs market.
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