Wilmington, Delaware, United States, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The global water for injection market was valued at US$ 21.5 Bn in 2021. It is projected to expand at a CAGR of 9.5% from 2022 to 2031.
The global water for injection market is evolving rapidly propelled by implementation of regulations and guidelines pertaining to the quality of water used in a range of pharmaceutical applications. The Japanese Pharmacopoeia, the US Pharmacopeia (USP) and The European Pharmacopoeia (Ph. Eur.) are focused on regulating the quality of different grades of water used in the pharmaceutical industry.
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Significant demand for water for injection during the manufacture of several active substances and medicinal products in the pharmaceuticals/biopharmaceuticals industry presents lucrative opportunities to companies in the market. Increase in usage of sterile water in the cleaning/rinsing of closures, containers, and equipment in pharmaceutical manufacturing facilities is a key trend that is anticipated to bolster the global water for injection market.
Key Findings of Study
Increase in Demand for Sterile Water for Injection in Aseptic Preparation of Parenteral Solutions
Significant utilization of bacteriostatic water in subcutaneous injection, intramuscular injection, intravenous injection, and intradermal injection is anticipated to accelerate market development. A range of drug compounds used in the treatment of chronic diseases need injectable solutions, and the bacteriostatic water is used as a solvent or diluent for preparation of aqueous injection. Numerous methods are used for the production of water of injectable quality to meet the requirements of pharmaceutical and biopharmaceutical industries. Extensive utilization of sterile water for production of vaccines for parenteral use is anticipated to accelerate market growth in the next few years. Based on application, the formulate parenteral drugs segment is anticipated to account for the leading market share of around 60% by 2031. Rise in demand for parenteral drugs and steady developments made in the parenteral drug administration technology are trends that are anticipated to fuel the segment. Significant usage of injectables for the treatment of cardiovascular disease, diabetes, and cancer is likely to bolster the formulate parenteral drugs segment.
Significant Usage of Water for Injection in Synthesis of Biopharmaceuticals
Water for injection witnesses considerable demand for use as an excipient or for reconstitution of products during synthesis of generic medicines. Surge in demand for generic medicines among the patient population suffering from chronic diseases, especially the elderly, is expected to augment the market size.
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Key Growth Drivers of Water for Injection Market
Steady demand for pharmaceuticals in the management/treatment of cardiovascular disease and cancer is a key driver of the water for injection market. High prevalence of these diseases around the globe is a key factor that is encouraging R&D on plasma, biologics, enzymes, plasma, antibodies, proteins, and vaccines.
Regional Landscape `
The market in North America is anticipated to witness rapid growth opportunities during the forecast period. Extensive demand for sterile water in the synthesis of biopharmaceuticals in the U.S. is projected to create substantial opportunities for market players in the region. Considerable investments made by companies in improving pharmaceutical water quality methods is likely to bolster adoption of advanced methods of production of bacteriostat water. Significant demand for generic injectables is anticipated to fuel market development in North America in the near future. Rise in R&D in Advanced Therapy Medicinal Products (ATMPs) is likely to broaden market outlook in the region.
Competition Landscape
The business landscape is highly fragmented, with prominent players focusing on mergers & acquisitions (M&As) and product portfolio expansion in order to stay ahead of their competitors.
Leading players in the water for injection market are
- Merck KGaA
- Baxter International, Inc.
- Johnson & Johnson Services, Inc.
- Abbott
- Thermos Fisher Scientific
- Pfizer Inc.
- Serum Institute of India
- Novartis
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Segmentation
The global water for injection market has been segmented based on
Application
- Formulate Parenteral Drugs
- Solvent
- Cell Culture Media
- Laboratory Reagents
- Synthesis of Drugs
- Others
- Cleaning Agents
- Rinsing Vessels
- Cleaning Equipment
- Cleaning Primary Packaging Materials
End-user
- Pharmaceutical & Biotechnology Companies
- Research Institutes
- Others
Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Europe
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