Global Water for Injection Market - 2022-2029

Global Water for Injection Market - 2022-2029

Market Overview

Water for Injection Market size was valued at US$ xx million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of x% during the forecast period (2022-2029).

Water for Injection (WFI) is a water quality standard described by pharmacopeial groups globally. It is used for many essential pharmaceutical products and applications, including necessary use for hemofiltration, irrigation, injectable drugs, in the production of some active pharmaceutical ingredients, implantable medical devices, and other various applications.

Market Dynamics

The Water for Injection market growth is driven by the rising demand for medicines such as proteins and vaccines for specific therapy, rapid advancement in healthcare facilities, demand for generic formulations, and increasing prevalence of different disease such cancer and cardiovascular disease.

The rising investment in the development of drugs is expected to drive the market growth

The rising prevalence of different diseases such as cancer and cardiovascular diseases is expected to boost the market over the forecast period. Water is a critical component of our body tissues and accounts for around 70% of total body weight. Average normal adult daily requirements range from two to three liters each for insensible water loss by perspiration and urine production. When it is administered parenterally as a vehicle for drugs, sterile water for injection offers a source of water for parenteral fluid replenishment after sufficient solute is introduced to reach an osmolarity of 112 mol per liter. In addition, recent market opportunities have service providers making remarkable investments in advanced manufacturing facilities. For instance, in January 2021, Thermo Fisher Scientific announced its viral vector manufacturing services through the acquisition of Henogen S.A., Novasep's viral vector manufacturing business in Belgium, for $875 million. Also, Fujifilm Corp. invested around $928 million in Fujifilm Diosynth Biotechnologies, a CDMO of biologics and advanced therapies.

Increasing investment in drug development leads to increasing research activities, which positively impacts on water for injection market.

The high cost of water for injection will hamper the growth of the market

However, the side effects related to water for injections such as inflammation of a vein (that may occur due to the technique of injecting) and pain at the injected site. Also, liver and kidney patients with a long history of this disease have to consult their doctor before starting the water for injection. In addition, a nursing mother cannot take water for injection directly this have a negative impact on the market growth.

COVID-19 Impact Analysis

The appearance of COVID-19 considerably impacted the global water for injection market. Recently increasing pipeline of biologics, including complex oncology products moslty delivered parenterally, and COVID vaccine production, there is rising demand for technically advanced manufacturing support, in which contract development and manufacturing organizations (CDMOs) are playing a vital role. These advancemnt in biologics provides the opportunity to the key players in the market. For instance, GreenLight Biosciencesand Samsung Biologics, a global CDMO, collaborated, in which Samsung Biologics will manufacture GreenLight’s messenger RNA COVID-19 vaccine candidate at large scale. This collaboration aims to drive the production of GreenLight’s COVID-19 vaccine candidate for Phase III trials and, it is subject to regulatory approval, commercial sales. On the other hand, global supply chains disruptions, iterupptions in manufacturing facilities, the more companies faced lack of supply of consumables, commodities, and fill-finish capacity. There are many clinical trials were cancelled or postponed. But as far as the situation of COVID-19 is recovering all facilities are opened and regulated supply chains of raw material gives opportunity to pharma and biophrma companies which is drirng the market growth.

Segment Analysis

The pharmaceutical & biotechnology companies segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The pharmaceutical & biotechnology companies segment is expected to boost the market over the period of the forecast. The WFI is essential for drug formulations and other activities in pharma and biotech companies. As per the European medicines agency, 2020 data report, The European Pharmacopoeia provided quality standards for types of water for pharmaceutical use including Purified Water Water for Injections (WFI), and Water for preparation of extracts. The WFI is used in many sterile medicinal products such as biologics, parenteral, haemodiafiltration solutions, peritoneal dialysis solutions, and irrigation solutions. Also, in 2020, Expert Committee on Specifications for Pharmaceutical Preparations (ECSPP), agreed that the monograph mentioned in The International Pharmacopoeia (Water for injections) and the guideline World Health Organization Good manufacturing practices: water for pharmaceutical use is WFI. Moreover, in pharma companies there are so many activities are performed including drug formulation. For instance, in the manufacturing process of injectable products, such as diluting or dissolving drug substances or preparations during the manufacturing of parenteral products, and for the manufacture of water for the preparation of injections. Bulk WFI can be utilized for the end of the cleaning of equipment which is come into contact with injectable products and final rinse to make sure that no subsequent thermal or chemical deproteinization process is applied.

Geographical Analysis

North America region holds the largest market share of the global water for injection market

North America dominates the market for water for injection and is expected to show a similar trend over the forecast period. It is estimated to hold a significant market size over the forecast period (2022–2029) owing to the presence of a large number of key players, an advanced healthcare system, and rising research and development activities. To develop a drug, there is a need to follow regulatory guidelines such as the United States Pharmacopoeia (USP). In addition, due to technology advancements, the key players are designed to meet the needs of the pharmaceutical industry and provide an inexpensive method for producing WFI. For instance, Evoqua’s VRx system offers ease of use, carbon filtration, reverse osmosis, UV light, particle filtration, electrodeionization, and ultra-filtration technologies. The VRx system offers users reliable, high-quality WFI.

Furthermore, the new term coming into the market is ""Cold WFI’’. It has an ambient temperature of both cold and hot WFI are softened and dechlorinated with RO, but the main difference between both types of WFI systems is that cold WFI systems use a second membrane barrier, such as low-pressure ultrafiltration, to ensure microbiological quality in place of energy-intensive distillation processes.

Competitive Landscape

The water for injection market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market are Abbott Laboratories, AdvaCare Pharma, B. Braun SE, FUJIFILM Holdings Corp., GlaxoSmithKline Plc, Merit Healthcare International Inc., Novartis AG, Pfizer Inc., Pharma Cure Laboratories and Sanofi among others. The major players are adopting several growth strategies such as Treatment type launches, acquisitions, and collaborations, which are contributing to the growth of the water for injection market globally.

For instance,

• In July 2021, Nexus Pharmaceuticals launched potassium chloride in water for injection in single-dose IV bags of 10mEq/100mL, 10mEq/50mL, and 20mEq/50mL. This will be available in environmentally friendly cartons of 24 IV bags.

• In 2022, WuXi STA, has announced its first parenteral formulation manufacturing line at the Wuxi city site. In this manufacturing plant fully automatic sterile manufacturing line operates in a full isolation system with an annual capacity of 2 million units.

B. Braun Medical Inc.

Overview:

B. Braun is a German medical and pharmaceutical device company, founded in 1839 and presence in more than 60 countries. It provides healthcare products and it has an out-patient division.

Treatment type Portfolio:

Sterile Water for Injection: It is a colorless, clear, odorless liquid. It is hypotonic, sterile, nonpyrogenic, and contains no bacteriostatic or antimicrobial agents. It is a diluent or solvent suitable for intravascular injection after first having been made nearly isotonic by the addition of a suitable solute. It is available in different volumes such as 1L, 2L, and 3L, 250mL, and 500 ML.

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