Generic Injectables Market Size, Share, Opportunities, Demand and Forecast 2020-2027
Generic Injectables Market Research Report, by Product Type (Monoclonal antibodies, Cytokines, Insulin, Vaccines), Container (Vials, Ampoules, Premix, Prefilled syringes), Application (Oncology, Anaesthesia, Anti-infectives, Cardiovascular), Distribution Channel (Hospital pharmacy, Retail pharmacy, Drug stores, Online stores) – Global Forecast Till 2027
Market Highlights
It is estimated that the global Generic Injectables Market Size is expected to register a CAGR ~13% during the forecast period of 2018–2023. Generic injectables is a key feedstock in pharmaceutical, diagnostics, biotechnology, diagnostic, and veterinary industries.
The Americas generic injectables market is expected to witness tremendous growth owing to the expansion of biosimilar products with off patenting of the major patented drugs is expected to drive growth of generic sterile injectable market during forecast period. For example, the loss of patent in 2017 for blockbuster brands such as Cancidas, Remicade, Cubicin, Invanz and Humira leading to entry of generic products. is also expected to drive the market. Other key factors such as the untapped market opportunities in emerging countries, growing investments by government organizations are contributing towards the growth of the market. However, in the negative perception of the consumers towards generic drugs coupled with stringent regulations laid down by the governments are few factors restraining the growth of the market.
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On the regional basis, the generic injectables market in the Americas is predicted to dominate the market during the forecast period. The North American region holds substantial share in the global market. Unlike branded drug manufacturers that invest huge amount of capital on R&D and marketing, generic drug manufacturers do not require such investments. Furthermore, the number of competitors in the generic injectables market is lower as compared to oral generics, resulting in limited price erosion and significantly higher profit margins.
Currently, the global generic injectables market is dominated by numerous players. The major players in this market are involved in new product launches, strategic partnerships and collaborations to increase their product portfolio. For instance, in December 2016, Baxter acquired injectables from Claris for the production of injectable medicines such as anesthesia and analgesics, anti-infective, renal, and critical care medications.
The global generic injectables market is segmented on the basis of product type, container, application, and distribution channel.
Some of the key players in the global generic injectables market are Novartis AG (Sandoz International GmbH), Baxter, Fresenius SE & Co. KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals plc, Lupin Ltd., Sanofi, Biocon, Dr. Reddy’s Laboratories, Aurobindo Pharma, Sagent Pharmaceuticals Inc., Zydus Cadila, GlaxoSmithKline plc, AstraZeneca plc., among others.
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