Piramal sees annual global sterile sales growth of 10% over the next 5 years

India’s Piramal Enterprises (BOM: 500302) said the injectables-market review from its pharma solutions unit indicates the near-term growth prospects are highest across generics, small molecule injectables, and in contract services.

Vivek Sharma, chief executive of Pharma Solutions, said: “Outsourcing in the sterile injectable segment is still focused on the US, followed by the European Union. We anticipate this market to continue growing at around 10% annually for the next 5 years, with the US remaining the most preferred outsourcing destination.”

The company said the USA remains the primary outsourcing destination, particularly for high value and biological formulations. Over the next few years, CMOs focused on prefilled syringes and those with high potent handling capabilities are expected to be the biggest beneficiaries of market growth.