Market Trends of Sterile Injectable Contract Manufacturing Industry
The Cancer Segment is Expected to Hold a Significant Share Over the Forecast Period
Cancer therapies necessitate meticulous manufacturing techniques that guarantee drug stability and effectiveness. Sterile injectable contract manufacturers with expertise in handling complex formulations and biologics are well-positioned to meet the unique challenges of oncology drugs. Many cancer treatments involve complex biologics and novel therapeutic approaches. Sterile injectables provide a reliable and effective means of delivering these advanced therapies, contributing to the expansion of the sterile injectable contract manufacturing market.
The Canadian Cancer Society's (CCS) 2023 report highlighted that cancer poses a significant healthcare burden in Canada, with its incidence steadily rising. Thus, the high burden of cancer is creating opportunities for new sterile injectables CMO in the country, driving the segment’s growth. The same source stated that 239,100 cancer cases were reported in Canada in 2023. Thus, the growing burden of cancer is expected to create demand for contract manufacturing services, likely contributing to segmental growth.
The robust growth in outsourcing practices is projected to fuel segment expansion throughout the forecast period. Pharmaceutical companies, including those focused on oncology, are increasingly outsourcing manufacturing activities to streamline operations, reduce costs, and leverage the specialized capabilities of contract manufacturers. This trend has contributed to the growth of the sterile injectable contract manufacturing market within the cancer segment.
Hence, growing cancer prevalence and the increasing trend of outsourcing are expected to boost the segment’s growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
In North America, the sterile injectable contract manufacturing market is expected to grow due to the establishment of contract manufacturing facilities, the rise in chronic diseases, and the development of advanced biologics. Sterile injectables are crucial for delivering complex therapies, and contract manufacturing provides a scalable solution for meeting this demand.
The increasing emphasis on biologics and biosimilars, which often require sterile injectable formulations, contributes significantly to the growth of the contract manufacturing market. For instance, according to a report by the Food and Drug Administration published in March 2023, 15 biologics were approved in 2022; of this, six were indicated for the treatment of a diversity of cancers. An anticipated surge in biologics drug approvals is projected to boost market growth during the forecast period.
Strategic activities by the market players, such as manufacturing facility expansion, collaboration, partnerships, and acquisitions, are expected to boost the market’s growth over the forecast period. For instance, in October 2023, Sharp acquired Berkshire Sterile Manufacturing (BSM), a contract development and manufacturing organization (CDMO) in Massachusetts that offers clinical and commercial sterile injectable products. Additionally, in March 2022, Sandoz Canada announced the completion of the sale of its Boucherville, Quebec, manufacturing plant to Delpharm, a CMO. This plant is Canada's largest sterile injectable production facility and provides strategic and potentially lifesaving medicines to the Canadian and US healthcare systems, primarily hospitals.
Thus, collaborations with or outsourcing manufacturing to CMOs in the region contribute to the overall growth of the market.
