Generic Injectables Market | Global Trends, Growth and Forecast 2020-2025
by Rahul Rastogi Market Research AnalystThe latest report by IMARC Group, titled “Generic
Injectables Market Report: Global Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2020-2025,” finds that the global generic
injectables market size reached
US$ 31.7 Billion in 2019. Generic injectables yield the same therapeutic
effects as their innovator counterparts since they have similar active
ingredients, strength, quality, performance, intended use and dosage. They allow the transportation of drugs
directly into the body, in the liquid form, thereby reducing the frequency of
dosage administration, without compromising on the effectiveness of the
treatment. A high degree of quality and care in the manufacturing, packaging,
storage and distribution of injectables is obligatory as they can be toxic and are
vulnerable to contamination. Generic
injectables are more effective
than their oral counterparts and are preferred when the patients are unable to
take medicines by mouth or have poor intestinal absorption.
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Global Generic
Injectables Market Trends:
The production of generic injectables is
time- and cost-efficient as they do not require extensive marketing, testing
and research due to the established safety and efficacy profile of their
branded counterparts. The governments of various countries are also supporting
the manufacturing of generic injectables as they help in reducing the overall
costs for patients, as well as healthcare providers. Apart from this, the
rising prevalence of various chronic diseases, such as diabetes, cardiovascular
disorders and Alzheimer’s disease, has increased the sales of generic
injectables. They help in maximizing patient compliance without compromising
the effectiveness of the treatment. Moreover, the leading generic drug
companies are bolstering research and development (R&D) activities,
engaging in acquisitions, or building their capabilities to develop complex and
differentiated products. For instance, Mylan Inc. acquired the Agila
injectables business from Strides Arcolab Limited to expand and strengthen its
existing injectables portfolio. Some of the other factors fueling the growth of
the market are the growing geriatric population, increasing drug shortages and
rising patent expiry of several drugs. Looking forward, the market value is
projected to reach US$ 53.7 Billion by 2025, growing at a CAGR of 9.2% over the
forecast period.
Market Summary:
- Based on the therapeutic area, the market has
been segmented into oncology, anesthesia, anti-infectives, parenteral
nutrition and cardiovascular. Oncology currently represents the largest therapeutic area,
accounting for the majority of the global market share.
- On the basis of the container, vials are the most preferred container
for generic injectables, followed by ampoules, premix and prefilled syringes.
- The market has been categorized based on the
distribution channel into hospitals and retail pharmacies. At present, generic injectables are majorly
distributed through hospitals.
- Region-wise, North America holds the leading
position in the market. Other major regions include Asia Pacific, Europe,
Middle East and Africa, and Latin America.
- The competitive landscape of the market has been
examined, with some of the key players being Pfizer Inc. (Hospira, Inc.), Fresenius Kabi AG, Hikma Pharmaceuticals PLC,
Sandoz (Novartis), Sagent M&C, LLC, Sanofi S.A. and Baxter
International, Inc.
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List of Figure: https://www.imarcgroup.com/generic-injectables-market
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Created on Mar 12th 2020 02:49. Viewed 370 times.