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Bacteriostatic Water for Injection Market is Estimated
to Witness High Growth Owing to Rising Usage of Injectable Drugs
Bacteriostatic Water for Injection is water that is used for
dissolving and diluting drug powders meant for injections. It contains benzyl
alcohol or parabens as bacteriostatic agents to prevent microbial growth. The
rise in chronic diseases and cancers globally has increased the usage of
injectable biologics and biosimilars significantly. Bacteriostatic Water for
Injection facilitates storage and administration of such drugs by serving as a
vehicle for reconstitution and dilution.
The Global
Bacteriostatic Water for Injection Market is estimated to be valued at US$ 1.22
Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period
of 2024 to 2031.
Key Takeaways
Key players operating in the Bacteriostatic
Water For Injection Market Demand are Baxter International Inc.,
Fresenius Kabi AG, Hospira, Inc., B. Braun Melsungen AG, Eagle Pharmaceuticals,
Inc., Sagent Pharmaceuticals, Inc., Baxter Healthcare Corporation, MediPharma,
AstraZeneca, Hikma Pharmaceuticals PLC, Amgen Inc., Teva Pharmaceutical
Industries Ltd., Sandoz (a Novartis division), Merck & Co., Inc.,
GlaxoSmithKline PLC, Cipla Limited, Sun Pharmaceutical Industries Ltd., Roche
Holding AG, Alvogen, Zydus Cadila.
Key opportunities in the market include the growing demand for parenteral drugs
from emerging economies of Asia Pacific and Latin America. Countries like
India, China, Brazil and Mexico are expected to contribute significantly to
market growth owing to increasing healthcare expenditures and rising disease
prevalence. Furthermore, the expansion of manufacturing facilities by leading players
in such regions will enhance access to affordable bacteriostatic water.
Globally, companies are focused on expanding their geographical footprint
through acquisitions and partnerships. For instance, Baxter International
acquired Claris Injectables to solidify its position in the Indian market.
Similarly, Hikma Pharmaceuticals strengthened its injectables portfolio through
the acquisition of select assets of Beximco Pharma’s US subsidiary. Such
strategic moves will enable companies to cater to a larger patient pool
worldwide.
Market drivers
The rising incidence of chronic diseases across the world is a major factor
driving the Bacteriostatic
Water For Injection Market Share. According to WHO, chronic diseases
accounted for approximately 60% of the global deaths in 2016. Conditions like
cancer, cardiovascular disease, diabetes require frequent administration of
parenteral therapeutics such as monoclonal antibodies, hormones, enzymes which
has spurred the usage of bacteriostatic water. Additionally, the increasing adoption
of biosimilars due to cost-effectiveness will further fuel market growth over
the forecast period.
PEST Analysis
Political:
The government regulations on pharmaceutical formulation and manufacturing will
impact the development and sales of bacteriostatic water. Regulations on
medication storage, handling and transportation also apply to bacteriostatic
water.
Economic: Changes in global and regional economic conditions may impact the
purchasing decisions of healthcare facilities and professionals. Their spending
on injectable drugs and supplies like bacteriostatic water depends on available
healthcare budgets.
Social: With an increasing aging population and prevalence of chronic diseases,
demand for injectable drugs is rising. This translates to higher consumption of
accessories needed for drug reconstitution and administration like
bacteriostatic water.
Technological: Pharmaceutical firms focus on Developing new formulations that
maintain long term stability without the need for bacteriostatic components.
Some are also exploring alternative packaging technologies to reduced
contamination risks associated with multi-dose vials.
The geographical regions where the bacteriostatic water for injection market in
terms of value is most concentrated includes North America and Europe. These
developed markets have major pharmaceutical companies manufacturing injectable
drugs. They also have advanced healthcare infrastructures relying on injectable
medications.
Asia Pacific is the fastest growing region for the bacteriostatic water for
injection market. Countries like China, India and Japan have huge patient bases
and improving access to healthcare. Their rising healthcare expenditures are
supporting growth of local pharmaceutical production and injections usage. Asia
Pacific is projected to witness strong demand for bacteriostatic water from
both hospital and home healthcare settings in the forecast period.
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Author:
Ravina
Pandya, Content
Writer, has a strong foothold in the market research industry. She specializes
in writing well-researched articles from different industries, including food and
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