The latest report by IMARC Group, titled “Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global generic injectables market reached a value of US$ 40.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.4 Billion by 2027, exhibiting at a CAGR of 8.6% during 2022-2027. Injectable refers to a drug delivery system that acts as an alternative to oral drugs. Generic injectables are bioequivalent of branded injectables with the same active ingredient as the innovator drug. It is similar to reference injectable in terms of administration route, dosage, performance, strength, intended use, and side effects. The only difference is that they are not protected by drug patents; therefore, their research and development (R&D) cycle is cheaper and shorter. The generic injectable market has relatively fewer competitors than oral generics, thereby resulting in limited price erosion and substantially higher profit margins.
The COVID-19 pandemic has adversely impacted the global market as numerous restrictions, including social distancing, travel restrictions, and border closures were imposed on healthcare services, hospitals, and drug manufacturers, leading to a significant shortage of injectables, along with most drugs. The disruption in supply and demand of injectables caused many failed deliveries and late deliveries for urgent medical cases. The research and development (R&D) activities were significantly hampered as delays in clinical trials and restrictions, coupled with issues in accessing laboratories, slowed down the progress of the manufacturing of generic injectables.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Generic Injectables Market Trends:
The global market is primarily driven by the rising prevalence of chronic diseases, such as obesity and diabetes, across the globe. In line with this, the increasing adoption of intravenous injections due to their ease of operations and better output is propelling the product demand. Moreover, the widespread preference for generic injectables when compared to branded injectables for focusing on treating rare diseases due to their shorter R&D cycles are further providing a boost to the market. Other factors, such as the growing demand for cost-effective biologics, faster regulatory approvals, low investments in R&D activities by key players and a considerable increase in clinical trials, are further providing an impetus to the market growth.
Key Market Segmentation:
Competitive Landscape with Key Players:
• Hospira, Inc. (Pfizer Inc.)
• Fresenius Kabi AG
• Hikma Pharmaceuticals PLC
• Sandoz (Novartis)
• Sagent M&C, LLC
• Sanofi S.A.
• Baxter International, Inc.
Also, Read Full Blog: Top Generic Injectables Companies Worldwide
Breakup by Therapeutic Area:
• Parenteral Nutrition
Breakup by Container:
• Prefilled Syringes
Breakup by Distribution Channel:
• Retail Pharmacy
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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