Wilmington, Delaware, United States, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The generic injectables market was estimated to have acquired US$ 85.8 billion in 2020. It is anticipated to register a 12.3% CAGR from 2021 to 2031 and by 2031, the market is likely to gain US$ 307.7 billion.
The key element driving the market for generic injectables is the increasing healthcare costs. The rising cost of healthcare has put pressure on healthcare systems and patients, driving the demand for cost-effective generic injectables as an alternative to brand-name drugs. The aging global population is more prone to chronic illnesses and diseases that often require injectable medications, increasing the demand for generic injectables.
The demand for generic injectables is also being driven by patent expirations. The expiration of patents for several high-revenue branded drugs has opened up opportunities for generic manufacturers to enter the market with more affordable injectable alternatives. Government healthcare agencies and organizations are encouraging the use of generic drugs to reduce healthcare costs and improve access to essential treatments.
Periodic shortages of branded injectables have driven healthcare providers to seek reliable and cost-effective generic alternatives to ensure patient care. The development of biosimilar injectables, which are highly similar versions of biologic drugs, is gaining traction, offering more affordable options for complex diseases like cancer and autoimmune disorders.
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Market Snapshot:
| Report Coverage | Details | |
| Estimated Value | USD 307.7 Bn | |
| Growth Rate - CAGR | 12.3% | |
| Forecast Period | 2021-2031 | |
| No. of Pages | 249 Pages | |
| Market Segmentation | By Product Type, Application, Container Type, Route of Administration, Region | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Sanofi, Lupin Ltd., Biocon, Hikma Pharmaceuticals, Mylan N.V., Fresenius SE & Co | |
Key Findings of the Market Report
- Innovations in manufacturing technology have improved the quality and efficiency of generic injectable production, ensuring higher safety standards and faster market entry.
- Generic injectables are now available for a broader range of therapeutic areas, including oncology, anesthesia, cardiovascular, and central nervous system disorders.
- Manufacturers are increasingly focusing on complex injectables, such as sterile injectable suspensions and liposomal formulations, offering patients more treatment options.
- Mergers and acquisitions among generic drug manufacturers are reshaping the industry, creating larger, more diversified companies capable of producing a wide range of injectables.
Market Trends for Generic Injectables
- Developing economies are witnessing increased demand for generic injectables due to expanding healthcare infrastructure and a growing patient population.
- The development of biosimilar injectables presents a significant opportunity for manufacturers to provide affordable alternatives, as biologic drugs lose patent protection.
- Compounded generic injectables tailored to specific patient needs, including pediatric or geriatric populations, offer niche market opportunities.
- Regulatory agencies are streamlining approval processes for generic injectables, enabling quicker market entry and competition.
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Global Market for Generic Injectables: Regional Outlook
Various reasons are propelling the growth of the generic injectables market in different countries. These are:
- Generic injectables are generally more affordable compared to their branded counterparts, making them a preferred choice for healthcare providers, patients, and payers in North America. The cost-effectiveness helps in reducing the overall healthcare expenditure.
- Patent expirations of several biologic drugs and branded injectables have opened up opportunities for the development and market entry of generic injectables, fostering competition and expanding the market in the region.
- Governments across the Asia Pacific region are implementing healthcare reforms to improve the overall healthcare infrastructure and access to essential medications. The reforms often include the promotion of generic drugs and injectables to reduce healthcare costs.
- The increasing incidence of chronic diseases, such as diabetes, cardiovascular disorders, and cancer, is boosting the demand for injectables as part of disease management and treatment protocols.
Global Generic Injectables Market: Key Players
A few number of dominant worldwide firms hold the majority of the market share in the generic injectables industry. The market's major companies are concentrating on diversifying their product lines.
The big players' primary strategy includes mergers and acquisitions. In order to acquire a competitive edge in the industry, market competitors are concentrating on offering high-quality services.
The following companies are well-known participants in the global generic injectables market:
- AstraZeneca
- Baxter International, Inc.
- Biocon
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals plc
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Merck KGaA
- Mylan N.V.
- Novartis AG (Sandoz International GmbH)
- Pfizer, Inc.
- Piramal Pharma Solutions
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
Key developments in the global generic injectables market are:
- In 2023, Novartis announced the launch of a new generic injectable version of filgrastim, a granulocyte colony-stimulating factor used to treat neutropenia.
- In 2023, Johnson & Johnson announced the launch of a new generic injectable version of etanercept, a biologic drug used to treat rheumatoid arthritis and other autoimmune diseases.
- In the same year, AbbVie announced the launch of a new generic injectable version of infliximab, a monoclonal antibody used to treat rheumatoid arthritis and other autoimmune diseases.
- In 2022, Teva Pharmaceutical Industries announced the acquisition of Nephron Pharmaceuticals, a leading provider of generic injectables.
- In 2022, Pfizer announced the launch of a new generic injectable version of adalimumab, a biologic drug used to treat rheumatoid arthritis and other autoimmune diseases.
- In the same year, Mylan announced the launch of a new generic injectable version of trastuzumab, a monoclonal antibody used to treat breast cancer.
Partial Table of Content (ToC):
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Generic Injectables Market
4. Market Overview
4.1. Introduction
4.1.1. Product Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Generic Injectables Market Analysis and Forecast, 2017–2031
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Key Industry Events (mergers, acquisitions, partnerships, collaborations, etc.)
5.2. COVID-19 Pandemic Impact on Industry (value chain and short / mid /long term impact)
5.3. Regulatory Scenario, by Region/globally
5.4. Pipeline Analysis
5.5. Disease Prevalence & Incidence Rate globally with key countries
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Global Generic Injectables Market Segmentation
By Product Type
- Large Molecule Injectables
- Small Molecule Injectables
By Application
- Oncology
- Infectious Diseases
- Cardiology
- Diabetes
- Immunology
- Others
By Container Type
- Vials
- Premix
- Prefilled Syringes
- Ampoules
- Others
By Route of Administration
- Intravenous
- Intramuscular
- Subcutaneous
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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