Global sterile injectables market growth is driven by rising incidence of chronic diseases along with growing geriatric population worldwide who are more susceptible to such diseases. Sterile injectables are used in therapeutic areas like oncology, autoimmune diseases, hematology, ophthalmology, anesthesia, and others. Moreover, rising demand for biologics and affordability of these drugs can drive the market growth. However, stringent regulatory norms associated with sterile injectables production can hamper the market growth during the forecast period.
Market Dynamics:
Global sterile injectables market growth is driven by growing incidence of cancer and other chronic diseases globally. Growing geriatric population prone to chronic medical conditions can also boost demand for sterile injectables. Moreover, rising popularity of biologics over conventional drugs due to superior efficacy can offer new market growth opportunities. However, high production costs associated with sterile injectables due to stringent quality control standards imposed by regulatory authorities can hamper the market growth. Product recalls owing to contamination issues during manufacturing can hamper the market growth. Ongoing R&D activities for developing effective biosimilars can offer market growth opportunities in the near future.
Key Features of the Study:
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