Generic Injectables Market Pin-Point Analysis for Changing Competitive Dynamics
The generic injectables market size is expected to grow from US$ 74.74 billion in 2021 to US$150.65 billion by 2028; it is estimated to grow at a CAGR of 10.5% during 2021–2028. The generic injectables market growth is attributed to low R&D, marketing, and manufacturing costs, and the rising prevalence of chronic illness cases are expected to drive the growth of the market.
Generic injectables are bio-equivalent of their branded counterparts which are not protected by the drug patents. They are safe and effective as the innovator drugs since they have similar active ingredient, dosage, strength, quality, form, and others. They are also referred to as biologics which are used for the treatment of various drugs and has same active ingredients to that of the branded versions of it.
The growth of the market is attributed to low R&D, marketing, and manufacturing costs and high demand for affordable drugs drive the market growth. However, critical inspection system for prefilled injection hampers the market growth.
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Based on product type, generic injectables market is bifurcated into large molecule injectables and small molecule injectables. The generic injectables market, by container type, is segmented into vials, premix, prefilled syringes, ampoules, and others. Based on application, the market is segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. By the route of administration, the generic injectables market is segmented into intravenous, intramuscular, subcutaneous, and others. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SCAM).
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AstraZeneca; Baxter International Inc.; Biocon; Fresenius SE & Co. KGaA; GlaxoSmithKline plc; Hikma Pharmaceuticals PLC; Johnson and Johnson Services, Inc.; Lupin; Merck & Co., Inc.; Viatris Inc.; Pfizer Inc. are among the leading companies operating in generic injectables market.
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