Market Research Future (MRFR) studied the global generic injectable market 2021 for the review tenure till 2023. As per MRFR assessment, the generic injectable market is expected to rise at around 13% CAGR during the analysis period and earn decent revenue for the market.
The development of branded formulations is both expensive and a time-consuming process. Thus, the inclination towards generic injectables market outlook due to their growing reputation as key feedstock in diagnostics, pharmaceutical, diagnostic, biotechnology, and veterinary industries. The average time required in the research and development of a new chemical entity is around a decade and the cost included is high. Based on these trends, the worldwide market of generic injectables can support the market rise. In addition, expiry of blockbuster injectable molecules patents, and strong pipeline of products, along with research and development of large molecule generic injectables are some other boosters that are considered for the generic injectables market.
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Segmentation
The segment analysis of the global generic injectables market is based on product type, application, container, end user, and distribution channel.
By Product Type
- Insulin
- Vaccines
- Monoclonal Antibodies
- Cytokines
- Others
By Container
- Vials
- Premix
- Prefilled Syringes
- Ampoules
By Application
- Oncology
- Anti-Infectives
- Anesthesia
- Cardiovascular
- Parenteral Nutrition
- Others
By Distribution Channel
- Hospital Pharmacy
- Drug Stores
- Retail Pharmacy
- Online Prescription Stores
Key Players
Some of eminent players in the worldwide generic injectables market are Fresenius SE & Co. KGaA, Novartis AG (Sandoz International GmbH), Baxter, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sanofi, Biocon, Hikma Pharmaceuticals plc, Dr. Reddy’s Laboratories, Lupin Ltd., Zydus Cadila, Aurobindo Pharma, GlaxoSmithKline plc, Sagent Pharmaceuticals Inc., and AstraZeneca plc., among others.
Regional Analysis
The generic injectables market in the Americas region is likely to witness tremendous growth pace owing to the introduction of biosimilar products with off patenting of the top-notch patented drugs can drive the growth of the generic sterile injectable market in the forecast term. For instance, the expiry of patents in past years for blockbuster brands, such as; Cubicin, Cancidas, Invanz, Humira, and Remicade, can lead to the entry of generic products, that is expected to favor the market. Other key causes, such as; the untapped opportunities of the market in emerging countries and escalating investments by government organizations can contribute the rise of the global market.
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The generic injectables market in the Europe regions is predicted to lead the global market over the analysis period. The EU region holds substantial share in the worldwide market. Unlike branded drug producers that invest large amount of capital in R&D as well as marketing, generic drug manufacturers do not need such investments. In addition, the rise in number of competitors in the regional generic injectables market is lower compared to oral generics, thus resulting in limited price erosion and decent rise in profit margins.
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