Market Overview:
Water for Injection Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 9% during the forecast period (2022-2029).
WFI is a water first-rate standard defined by using pharmacopeial agencies globally. It is used for lots crucial pharmaceutical products and applications, including essential use for hemofiltration, irrigation, injectable tablets, in the production of some lively pharmaceutical elements, implantable scientific gadgets, and different various programs.
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Market Dynamics
The Water for Injection market boom is driven through the growing demand for medicines together with proteins and vaccines for particular therapy, speedy development in healthcare facilities, demand for common formulations, and growing occurrence of different disease such most cancers and cardiovascular sickness.
The growing funding in the development of medicine is anticipated to pressure the marketplace increase
The growing incidence of different diseases together with cancer and cardiovascular illnesses is predicted to boost the market over the forecast duration. Water is a crucial component of our frame tissues and bills for round 70% of overall frame weight. Average ordinary grownup every day necessities range from two to three liters each for insensible water loss by using perspiration and urine manufacturing.
When it’s miles administered parenterally as a vehicle for pills, sterile water for injection offers a supply of water for parenteral fluid replenishment after sufficient solute is introduced to reach an osmolarity of 112 mol per liter. In addition, current market opportunities have service providers making notable investments in advanced production centers.
For example, in January 2021, Thermo Fisher Scientific introduced its viral vector production offerings through the purchase of Henogen S.A., Novasep’s viral vector production business in Belgium, for $875 million. Also, Fujifilm Corp. Invested round $928 million in Fujifilm Diosynth Biotechnologies, a CDMO of biologics and superior remedies.
Increasing funding in drug improvement leads to increasing research activities, which positively influences on water for injection market.
Market Segmentation:
By Application
- Clinical Pharmacology
- Medication Dilution
- Anti-bacterial Application
- Others
By End User
- Pharmaceutical & Biotechnology Companies
- Research Institutes
- Hospitals
- Clinics
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Competitive Landscape
The water for injection market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market are Abbott Laboratories, AdvaCare Pharma, B. Braun SE, FUJIFILM Holdings Corp., GlaxoSmithKline Plc, Merit Healthcare International Inc., Novartis AG, Pfizer Inc., Pharma Cure Laboratories and Sanofi among others.
The major players are adopting several growth strategies such as Treatment type launches, acquisitions, and collaborations, which are contributing to the growth of the water for injection market globally.
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