Generic Injectables Market Overview:
- Generic injectables are called as biologics that are used for the treatment of various diseases and has the same drug/ active ingredients as that of its respective branded versions.
- Generic injectables are segmented in the market;
- By product type as monoclonal antibodies, cytokines, insulin, vaccines, and others.
- Based on therapeutic area as oncology, anaesthesia, anti-infectives, parenteral nutrition, cardiovascular and others.
- Based on the trade channel, as hospital pharmacy, retail pharmacy, drug stores, and online prescription stores.
- The large molecular injectables segment,expected to capture the highest share in the global generic injectables market, accounting ~60% of the total market value.
- Small molecular injectables segment hold a little over 40% of the generic injectables market.
- The global generic injectables market reached a value of US$ 30 Billion in 2018, exhibiting a CAGR of ~10% during 2015-2019.
- As per a World Health Organization (WHO) 2018 report, over ~50 million deaths occur globally due to non- communicable chronic diseases annually, which is propelling the demand for development of low-cost generic vaccines.
Generic Injectables Market Outlook:
- As per the research report of AGR, global generic injectables market shall expand @ CAGR of ~12% during 2020-2025.
- The increasing prevalence of chronic and infectious diseases along with advancements in research and academic initiatives by the private and governmental sector are to drive the market growth
- Shortage of branded sterile injectable has further led to adopt the generic injectable which in-turn shall restrain the market growth
- US dominates the market owing to the growth of the market in the North American region. Moreover, in the U.S. more than 70% of hospital patients receives generic injectable drugs, which is pushing the demand for generic injectable in North America.
- Europe is currently holding a considerable amount of market share owing to the advantages offered by generic injectables, governments in various countries are supporting their manufacture.
- Asia-Pacific exhibits real growth opportunities for the global generic injectables market throughout the forecast period.
- The high prevalence of infectious diseases such as diarrhea, typhoid, malaria and cholera; increasing prevalence of cancer; high demand for inexpensive medicines and a large market presence of key players are anticipated to leverage the growth in the Asia-Pacific.
- The Middle East and Africa hold the least share in the market due to the economically diverse countries existence, and less initiatives taken by the government.
Generic Injectables Growth Drivers and Trends:
- Most primary factors driving the global generic injectables market are;
- Expiry of blockbuster injectable molecules patents,
- Accelerated research and development of large molecule generic injectables.
- Strong pipeline of products.
- High demand for injectable antibiotics.
- Surge in adoption of biosimilar products.
- Rising demand for affordable biological products.
- As per the research report of AGR, Large molecular injectable drugs are projected to grow @ CAGR of 30-32% during the forecast period.
- Governments worldwide are encouraging distribution and development of generic drugs to make them available to a larger populace, particularly rural people in the developing countries.
- Governments are also playing a pivotal role by boosting capital allocation for the healthcare sector, especially in oncology research and biologics production.
- Moreover, patients prefer self-drug administration such as pre-filled syringes to avoid caregiver fees.
Collectively, these activities are offering fertile ground for generic injectable manufacturer, to show a double-digit CAGR.
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Challenges disrupting the market:
Though the global generic injectables market has several growth drivers, there are certain constraints hindering the market growth;
- Supply-chain disruptions in the wake of restricted air and water transport may prove to be a hindrance to the growth of the genetic injectables market.
- Another major challenge in the market is the higher R&D cost involved in introducing new drugs.
- Uncertainty of regulations for large molecule generic injectables.
- High investment in injectable manufacturing plant.
- Stringent regulatory requirements governing sterility requirements of injectables.
However, certain factors shall propel the global generic injectables market; increasing pressure due to rising healthcare costs, growth in demand for affordable medicines, surge in government initiatives to increase adoption of generic products, government support to start a generic medical store, high prevalence of infectious and lifestyle diseases, increase in research & development activities for the development of complex molecules, and technological advancements in the form of premixes and prefilled syringes .
Generic Injectables Market Players Perspective:
Some of the key players operating in the generic injectables market profiled in this Avalon Global Research report are Baxter, Biocon, Fresenius Kabi, Fresenius SE & Co., Hikma Pharmaceuticals PLC., Hospira (Pfizer), KGaA, Lupin Ltd., Mylan N.V., Sandoz (Novartis), Sagent, Sanofi and Teva Pharmaceutical Industries Ltd.
The core focus of all market players is on developing generic biological products, or biosimilars.
- Pfizer Inc., controls the global generic injectables market, holding 10% of the total market share. It is the leading biosimilars company in the world and has consolidated its position through it’s advancement of six biosimilar pipeline products.
- Sandoz Inc. is holding 5% of the global generic injectables market share. It also offers a strong biosimilar drug pipeline. Its portfolio includes both blockbuster and niche products for all major therapeutic areas.
- Teva Pharmaceuticals Ltd. is in the process of developing its first biosimilar version of rituximab.
- Pfizer, Inc., a leading player in the global generic injectables market, is in an agreement with Biocon to develop insulin biosimilars.
Generic Injectables Market Research Scope:
- The base year of the study considered is 2019, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These gives the key market participants with the necessary business intelligence and help them understand the future of the global generic injectables market.
- The assessment includes the forecast, an overview of the competitive structure, market trends, market demands, market drivers, market challenges, and product analysis.
- The market drivers and restraints is evaluated to gauge their impact over the forecast period.
- The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
- The key areas of focus include opportunity areas for global generic injectables market.
Author – Mr. S. Ashok
Associate Director – Operations
Connect to the author of the report at email@example.com or contact us at https://www.avalonglobalresearch.com/contact-us