Water for Injection Market - Databook 2025 to 2034

The global water for injection market size was estimated at USD 34.16 billion in 2024 and is projected to be worth around USD 87.39 million by 2034, growing at a CAGR of 9.84% from 2025 to 2034.

Highlights of the Water for Injection Market

• North America dominated the global market in 2024.
• Asia Pacific is anticipated to grow at the fastest CAGR in the market during the forecast period.
• By application, the formulated parental drugs segment held a dominant presence in the market in 2024.
• By application, the solvent segment is expected to grow at the fastest CAGR in the market during the forecast period of 2025 to 2034.
• By end-user, the pharmaceutical and biotechnology segment accounted for a considerable revenue of the market in 2024.
• By end-user, the research institutes segment is projected to experience the highest growth CAGR in the market between 2025 and 2034.

Industry Valuation and Growth Rate Projection

The water for injection market deals with the production and distribution of pharmaceutical-grade water used aseptically in drugs as an injectable vaccine, biosimilar, monoclonal antibody, or other biologic products. Therefore, the market grows with the demand for sterile injectable formulations and moves into the injectable drug delivery systems. Manufacturers are being pressured to upgrade their water purification infrastructure to meet stringent regulatory requirements for water purity, microbial counts, and endotoxin presence levels. Multiple-effect distillation units or vapor compression systems with reverse osmosis and ultrafiltration are the latest innovative production technologies being adopted as industry standards. Companies are also looking into green and sustainable production methods, with membrane-based purification technologies promoting water quality and long-term operational cost savings. By this logic, the market is well ensconced for further growth owing to the twin imperatives of quality assurance and manufacturing efficiency in present-day drug manufacture.

  Water for Injection Market: Stats and Figures

• India exported 2,699 Water Injection shipments from October 2023 to Sep 2024.
• Exports were made by 365 Indian Exporters to 940 Buyers.
• Growth rate: 15% compared to the previous year.
• Top three global exporters: India (16,817 shipments), China (11,607), Russia (3,389 shipments).

  How AI Has Benefitted the Market?

• Process Purification Optimization: AI collects data in real time from sensors and control instruments to optimize process parameters based on factors affecting efficacy and water purity.
• Automated Monitoring and Control: It interfaces with the automated system to monitor critical parameter settings to ensure the system modifies them instantly to comply with the regulation.
• Minimizing Human Errors: These systems, powered by AI, reduce reliance on manual intervention, hence decreasing the possibility of errors committed by humans and assuring accurate results.
• Safety and Traceability: AI-based technologies maintain detailed records of every action carried out during the production process to support compliance and audits.

  Industry Leader Announcements

• Jeff Yordon, Co-Founder and CEO of Avenacy:

“As a vital product for healthcare providers, Magnesium Sulfate represents a large market opportunity for Avenacy, and we are excited to deliver this ready-to-use product to hospitals all over the country as a means to improve patient care.”

• Mark Dyson, Vice President of mobile business for Veolia Water Technologies:

“Our output performance-based service optimises both the quality and quantity of treated water delivered while helping manage complex wastewater to meet production and compliance needs responsibly and without disruption. Customers benefit from expert water resource management without CAPEX investment, relying on our expertise in compliance and environmental impact reduction.”

  Geographical Insights

North America

North America dominated the market in 2024. The WFI market in North America is led mainly because of its strong pharmaceutical activities, highly advanced manufacturing infrastructure, and tough regulations. The United States is at the forefront in terms of healthcare infrastructure and the presence of key players.

Asia-Pacific

Asia-Pacific is expected to grow at a significant CAGR during the forecast period. Increasing pharmaceutical and healthcare activities in the Asia Pacific region are further set to ensure the fast growth of the WFI market. These regions gain the capacity to produce WFI of very high standards due to low-cost manufacture, improved regulatory frameworks, and increasing government support for various research and development activities. India and China in emerging markets stand at the right centre for this growth paradigm.

Europe

Europe, a mature market, also continues to grow under the heavy sanctions of quality standards and a well-regulated pharmaceutical industry. Germany, France, and Italy, with their advanced healthcare infrastructure and a growing focus on biologic drug development and injectable formulations requiring systems for high-purity water, also play a big role.

Recent Developments:

• In December 2024, CN Water showcased its water technology solutions at CPHI-PMEC, introducing innovative WFI generation methods and remote monitoring for pharmaceutical water systems, aiming to reduce energy consumption. 
• In June 2024, Asahi Kasei introduces a membrane system for producing WFI, a sterile water used for injection preparation, reducing CO2 emissions and costs by utilizing MicrozaTM hollow-fiber membrane design.

Competitive Landscape

The market is moderately fragmented with local players like Thermo Fisher Scientific, Inc., Eurocrit Labs International, Danaher Corporation (Cytiva), Rocky Mountain Biologicals, SteriCare Solutions, Merck KGaA, Evoqua Water Technologies, Veolia Water Solutions and Technologies, ICU Medical Inc., B. Braun Melsungen AG, Veltek Associates, Inc., wishing to take the time to edge their presence through investments, partnerships, acquisitions, and mergers. They also invest in product development and competitive pricing. These strategies will promote market growth and lucrative opportunities for market players

• Company Name: Thermo Fisher Scientific
• Year of Incorporation: 2006
• Headquarters: Waltham, Massachusetts

Thermo Fisher Scientific's 2024 annual revenue was $42.88 billion, slightly higher than the $42.86 billion in 2023. The company reported a full-year GAAP diluted EPS of $16.53 for 2024, up from $15.45 in 2023.

• Company Name: Danaher Corporation
• Year of Incorporation: 1969
• Headquarters: Washington, D.C.

Danaher Corporation's 2024 revenue was $23.9 billion. This represents a flat year-over-year performance compared to the previous year, with a non-GAAP core revenue decrease of 1.5%.

• Company Name: Evoqua Water Technologies
• Year of Incorporation: 2014
• Headquarters: Pittsburgh, Pennsylvania. 

Evoqua Water Technologies' annual revenue for 2022 was $1.74 billion, according to a press release from Evoqua. This represents an 18.6% increase compared to the prior year period.