Albany, NY -- (SBWIRE) -- 05/22/2018 -- Oncology is the branch of study of medicine that deals with the prevention, diagnosis, and treatment of cancer. Sterile injectables are widely used in the treatment of cancer for increased biological effects. Injectable drug delivery is the mode of introduction of a drug directly into a patient's bloodstream. Since it has to be injected directly into the bloodstream, it needs to be sterile. Sterile injectable drugs are usually manufacture in form of liquid and they permit the transport of drugs directly into the body blood circulation, sometimes they may be formulated to transport the drug to a specific part of the body. The manufacturing of sterile injectable drugs in a complex process and incurs high initial investment and operating costs. Hence, a small number of players hold major share of the global sterile injectables market.
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The global oncology sterile injectable drugs market is expected to grow at a rapid pace due to increase in chronic diseases across the world, especially oncology disorders such as cancer and others; rise in investment by drug manufacturers in the development of new anti-cancer drugs; short timelines for approval of new drug for the treatment of cancer, and faster approvals by the FDA are the key factors boosting demand for oncology sterile injectables globally. However, stringent rules and regulations in related facilities and equipment involved in the manufacture of oncological sterile injectable drugs, and high level of quality and care required in the production, storage, packaging, and distribution of oncological sterile injectable are likely to hamper the growth of the market.
The global oncology sterile injectable drugs market can be segmented based on type, end-user, and region. In terms of type, the global market can be divided into small molecules and large molecules. Small molecule is the most attractive segment of the market due to increase in development and adoption of small molecules in chronic diseases such as cancer. Based on end-user, the global oncology sterile injectable drugs market can be classified into hospitals, ambulatory surgical center, specialty clinics, and others.
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Geographically, the global oncology sterile injectable drugs market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region is sub-divided into specific countries such as the U.S., Canada, the U.K., Germany, Brazil, China, India, and GCC Countries. North America dominated the global oncology sterile injectable drugs market because of increase in geriatric population, rise in incidence of chronic and autoimmune diseases, and surge in demand for innovative medical technology in the U.S. According to the National Institute of Cancer, in 2016, around 1,685,210 new cancer cases are likely to be diagnosed in the U.S. and 595,690 patients will succumb to the disease. Asia Pacific is considered to be the most attractive market during the forecast period due to rise in health awareness and demand for advanced medical technology.
Key players operating in the global oncology sterile injectable drugs market are Amgen, Inc., Baxter International Genentech, Inc., Novo Nordisk A/S, Johnson & Johnson, Sanofi S.A., Pfizer, Inc., GlaxoSmithKline plc, AstraZeneca, and Merck & Co., Inc., among others. Major players have adopted various growth strategies such as collaborations, agreements, partnerships, and new product launches to gain competitive advantage in the market.
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