According to Vision Research Reports, the global pharmaceutical water market size is projected to hit around US$ 72 billion by 2030 and expanding growth at a CAGR of 10.1% from 2021 to 2030.
According to Vision Research Reports, the global pharmaceutical water market size is projected to hit around US$ 72 billion by 2030 and expanding growth at a CAGR of 10.1% from 2021 to 2030. The growth of biopharmaceutical and generic injectable drugs industries is projected to drive the global pharmaceutical water market in the near future.
HPLC grade water is essential for preparing mobile phases and samples. Water used in the HPLC process should be purified through a combination of distillation, reverse osmosis, ultraviolet irradiation, filtering, ion exchange, and other methods. Water for HPLC should comply with the highest purity specified under type 1 by the American Society for Testing and Materials (ASTM). This water requires mixed bed deionization and filtration with 0.2μ membrane filters. Water for injection, or sterile water for injection, is a non-pyrogenic, sterile, solute-free preparation. It is utilized as sterile solvent or diluent vehicle for solutions or drugs suitable for parenteral administration. It is also used in cell culture as a solvent in the preparation of cell culture media, buffers, laboratory reagents, reconstitution of biochemical reagents, and final rinse water for critical applications and bioprocess liquids.
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Demand for biopharmaceuticals such as vaccines, proteins, antibodies, plasma, enzymes, biologics, and peptides is high for use in the production of life-saving medications. These biologicals are unstable in solution if stored over a long period of time.
The biopharmaceutical sector has expanded rapidly in the past few years. It is expected to grow at a rapid pace in the near future. Currently, the biopharmaceutical sector is valued at US$ 163 Bn. It is likely to expand at a CAGR of 8% over the next few years, nearly double that of the conventional pharmaceutical sector.
Growth of the biopharmaceutical industry can be attributed to large unmet medical needs in the treatment of chronic medical conditions, patent expiry of branded biologic drugs leading to development of biosimilar drugs, and a large number of clinical pipeline drugs. Moreover, rapid expansion of the vaccines industry is projected to propel the biopharmaceutical industry in the near future.
Players operating in the generic injectable market are focused on the development of generic injectable products, especially generic biologic products i.e., biosimilars.
Presently, 28 biosimilar drugs have been approved by the U.S. FDA for the treatment of different types of chronic medical conditions.
Increase in focus of leading players on the development and expansion of manufacturing facilities suitable for generic formulations is anticipated to boost the production of specialty generic injectable products during the forecast period.
Development of generic formulations is a more rapid process compared to branded ones, as these products are exempt from the requirement to conduct clinical trials and toxicity studies. Large number of players are entering the global generic injectable market with cost-effective alternatives to branded products, leading to increased adoption of generic products.
Pharmaceutical water is an integral part of the biopharmaceutical and generic injectable industries. Hence, demand for pharmaceutical water is expected to increase, along with the expansion of the biopharmaceutical and generic injectable industries during the forecast period.
Rapid increase in burden of diabetes among the geriatric and obese population across the globe is a major factor likely to propel the global pharmaceutical water market during the forecast period.
According to Diabetes Research and Clinical Practice, the global prevalence of diabetes was around 9.3% (463 million people) in 2019. The rate of prevalence is projected to increase to 10.2% (578 million) in 2030 and 10.9% (700 million) by 2045.
Globally, around 46% people with diabetes are still undiagnosed, which provides significant opportunity in the pharmaceutical water market.
In the global diabetes care industry, the injectable drugs segment is anticipated to expand at a CAGR of 17.8%, compared to 15.1% of the total industry, and 11% of the oral anti-diabetics segment between 2009 and 2019.
Report Highlights
In terms of end user, the global pharmaceutical water market has been classified into pharmaceutical & biotechnology companies, academics & research laboratories, and others. The pharmaceutical & biotechnology companies segment held a significant share of the global pharmaceutical water market in 2020.
North America held major share of the global pharmaceutical water market in 2020. Presence of key players and growth strategies adopted by these players are the major factors driving the pharmaceutical water market in the region. Rise in awareness about the benefits of prevention of diseases and increase in healthcare expenditure also augment the pharmaceutical water market in North America.
Asia Pacific was the second largest market for pharmaceutical water in 2020. The growth of the pharmaceutical water market in Asia Pacific can be attributed to rise in infectious diseases and a well-developed healthcare sector. The pharmaceutical water market in Asia Pacific is likely to grow at a rapid pace during the forecast period. Development of pharmaceutical water and other pharma products to cope with diseases and rise in awareness leading to routine checkup and diagnosis are the major factors anticipated to drive the pharmaceutical water market in Asia Pacific.
Key Players
Key players are expanding their footprint to consolidate their positions in the global pharmaceutical water market. Greater emphasis on prevention and wellness by healthcare professionals and owners presents lucrative opportunities to key players to increase their share in the global pharmaceutical water market. Hence, manufacturers engage in new product development, collaborations, and distribution to gain market share.
Leading players operating in the global pharmaceutical water market include Merck KGaA, B. Braun Melsungen AG, Baxter International, Inc., Thermo Fisher Scientific, Inc., Cytiva (Danaher), Intermountain Life Sciences, Standard Reagents, Pvt. Ltd., CovaChem, LLC., FUJIFILM Irvine Scientific, Fresenius Kabi AG, and Pfizer, Inc.
Market Segmentation
By Type
- HPLC Grade Water
- Water for Injection
By End User
- Pharmaceutical & Biotechnology Companies
- Academics & Research Laboratories
- Others (Medical Device Manufacturing)
Pharmaceutical Water Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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