Sterile Injectable Drugs Market Size

Sterile Injectable Drugs Market size was valued at USD 605.34 billion in 2023 and is expected to cross USD 1.15 trillion by the end of 2036, expanding at more than 5.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sterile injectable drugs is estimated at USD 630.04 billion.

The growth of the market can be attributed to the rising prevalence of chronic diseases around the globe, along with rising health awareness among people and authorities. Government initiatives to curb spread of diseases in the form of investment in healthcare sector, and vaccination drives, among others, is estimated to boost the market growth. Moreover, the COVID-19 pandemic has emphasized the need for more efficient healthcare system, R&D activities for novel treatment methods, and quicker development and approval of drugs, on a global level, which is estimated to boost the market growth significantly in the upcoming years.

Frequently Asked Questions (FAQ)

Rising government initiatives to curb spread of chronic diseases is one of the major factors driving the market growth.

The market is anticipated to attain a considerable CAGR over the forecast period, i.e., 2021-2029.

Delay in drugs approval is one of the factors estimated to hamper the market growth.

The market in North America is estimated to garner the largest market share owing to the health awareness among people, high investment healthcare sector, and increasing R&D activities.

The major players in the market are GlaxoSmithKline plc, Bausch Health Companies Inc., Boehringer Ingelheim International GmbH, AbbVie Inc., Amgen Inc., Novartis AG, Progenity, Inc., Johnson & Johnson Services, Inc. and others.

Sterile Injectable Drugs Market Size