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Wilmington, Del. , Aug. 4, 2022 /PRNewswire/ -- The value of the global water for injection market stood at US$ 21.5 Bn in 2021. The global market estimated to rise at a CAGR of 9.5% during the forecast period, from 2022 to 2031. The global water for injection market size is estimated to surpass value of US$ 53.8 Bn by 2031. Active pharmaceutical ingredients (APIs), pharmaceutical products, and intermediates are all processed, formulated, and manufactured utilizing water for injection as an ingredient, raw material, and solvent. Pharmacopeia Europa, the United States Pharmacopeia (USP), and other regulatory bodies have set quality requirements for sterile water utilized in the production of pharmaceutical goods. This includes using it to rinse containers, clean equipment, or serve as an analytical reagent (EP).
Water for injection market demand analysis predict that with the growth of the generic injectable and biopharmaceutical businesses, the demand for water for injection is anticipated to increase during the forecast timeframe. Most of the medications are used to treat cancer, heart disease, and diabetes are accessible as injectables. The global water for injection market is expected to be driven by new medication formulations, an increasing occurrence of cancer and cardiovascular disorders, and increasing healthcare access in developing markets. Pharmaceutical bacteriostatic water needs to be produced, stored, and distributed utilizing systems that are properly commissioned, planned, built, and also appropriately maintained.
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Key Findings of Market Report
Vaccines, peptides, antibodies, biologics, enzymes, plasma, and proteins are amongst the medications that are in higher demand. The market for biopharmaceuticals has experienced rapid expansion in recent years, and this pattern is anticipated to hold during the forecast timeframe. As generic injectable and biopharmaceutical industries expand, there is likely to be an increase in demand for sterile water for injection since bacteriostatic water for injection is a crucial part of these fields.
The vast majority of drugs utilized to treat diabetes, cardiovascular disease, and cancer come in injectable dose forms. Rising demand for cancer treatment, new medication formulation, as well as improved accessibility to healthcare facilities in developing countries is expected to drive growth opportunities in water for injection in the years to come.
By 2031, the category of formulate parenteral drugs is expected to hold a considerable market share for water for injection, around 60% of the market. Generic parenteral formulations are developed more quickly than branded ones since there is no need to undertake toxicity assessments or clinical trials for them. A large influx of manufacturers providing low-cost substitutes for branded medications is likely to present immense growth opportunities for key players in the water for injection market. Consequently, parenteral formulations are being developed.
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Global Water for Injection Market: Growth Drivers
There are substantial unfulfilled healthcare needs in the treatment of chronic diseases, which is what drives the biopharmaceutical business. In addition, the global market is projected to be driven by the patent expiry of branded biologic medications, which has made room for biosimilars, and widespread manufacturing of clinically effective medications.
In North America , there is a growing market for biopharmaceuticals to treat chronic illnesses including chronic renal diseases, neurological disorders, and cancer. As a result, the region's need for water for injection is increasing owing to the advancement of specialty enzymes and plasma fractionation.
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Global Water for Injection Market: Key Players
Some of the key market players are
Global Water for Injection Market: Segmentation
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