“CMO of Sterile Injectable Drugs market is expected to surpass US$55,000.0 million by 2030” says new Visiongain report
04 May 2020
Visiongain has launched a new pharma report Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market Report 2020-2030: Forecasts by Product Type (Monoclonal Antibodies, Insulin, Cytokines, Vaccines, Blood Factors, Others), Application (Cancer, Diabetes, Cardiovascular Diseases, CNS, Infectious, Others), Molecule (Small Molecule and Large Molecule), Container (Bottles, Ampoules, Vials, Bags, Pre-filled Syringes, Others) Plus Company Profiling of Major Players.
The global contract manufacturing of sterile injectable drugs market was valued at US$13,887.5 million in 2019 and is expected to surpass US$55,000.0 million by 2030 while growing at a CAGR of over 13% over 2020-2030. Increasing prevalence of chronic diseases, fostering demand for biologics in the coming years along with patent cliff are key factors driving the growth of the global contract manufacturing of sterile injectable drugs market.
The scope of the report is segmented into product, molecule, container, and region. In the molecule segment, a small molecule held the largest market share in 2019 and will continue to dominate throughout the forecast period. This is attributed to the increasing number of product approvals by healthcare authorities globally.
Based on the product, the monoclonal antibodies segment accounted for significant revenue share in 2019 and is expected to register the lucrative growth over the forecast period. The monoclonal antibodies were valued at over US$5,000.0 million in 2019 which is further projected to exceed US$21,000.0 million by 2030 while growing at a CAGR of more than 12% over the forecast period.
Based on the application, the cardiovascular diseases segment held the largest revenue share in 2018. Furthermore, the cancer segment is likely to exhibit rapid growth over the forecast period. The segment is anticipated to witness a CAGR of 14.2% over the forecast period.
Europe currently holds the largest share in 2019 for contract manufacturing of sterile injectable market owing to the presence of a significant number of contract manufacturers for injectable in the region. Moreover, growing investments by contract manufacturers on using advance-manufacturing processes has also accounted for the largest share in the global market. The European market for contract manufacturing of sterile injectable was valued at over US$4,000.0 million in 2019 which is further projected to witness a CAGR of 13.2% by 2030.
Furthermore, Asia Pacific is going to record growth at a faster pace because of developing healthcare infrastructure. The market was valued at over US$2,000.0 million in 2019 which is projected to witness the fastest growth rate of 14.7% to surpass US$13,000.0 million by 2030.
The prominent players operating in global contract manufacturing of injectable drugs market include Boehringer Ingelheim, Famar Health Care Services, Siegfried Holding AG, Jubilant Life Sciences, Ltd., Grifols SA, Pfizer CentreOne, Catalent Inc, Aenova Group, Baxter Biopharma Solutions, Recipharm AB, Lonza, Patheon Inc., Almac Group, Evonik Industries AG, and Consort Medical Plc among other prominent players operating across the globe.
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