The GCC generic injectables market was worth US$ 447.6 Million in 2018. Generic injectables are equivalents of brand-name injectables with respect to quality, dosage, route of administration, performance, strength and intended use. They are used for treating a wide array of life-threatening and chronic diseases including diabetes, cancer, cardiovascular diseases, rheumatoid arthritis, respiratory diseases and osteoporosis. A rise in the prevalence of various lifestyle diseases in the GCC region has catalyzed the demand for these injectables. The lower cost of these drugs as compared to their branded equivalents further helps in providing substantial savings for the patients and healthcare providers.
An increase in the emigrant population along with a rise in the cases of both acute and chronic diseases has challenged the capability of the existing healthcare resources in the region. The resulting surge in the overall healthcare costs has boosted the demand for these injectables. Moreover, upcoming patent expiry of a number of blockbuster drugs prescribed in key therapeutic areas is expected to help in expanding the product portfolio of generic injectable manufacturers. Apart from this, the total number of manufacturers in the market is lower as compared to those in the oral generics segment. This results in lower price erosion and significantly higher margins. Some of the other factors driving the market in this region include aging population, development of the private healthcare sector and improving standards of living. According to the estimates by IMARC Group, the market is anticipated to reach a value of US$ 850.5 Million by 2024, exhibiting a CAGR of 11% over the forecast period (2019-2024).
Breakup by Container Type:
Vials account for the majority of the total market as they are compact in size, can be reused and are graduated with markings.
Breakup by Therapeutic Area:
Currently, oncology represents the most popular therapeutic area on account of a rise in cancer diagnosis coupled with improved access to treatment.
Breakup by Distribution Channel:
These injectables are majorly distributed through hospitals as they cannot be traded or administered without medical assistance.
Saudi Arabia represents the leading market within the region. The manufacturers in the country are consistently collaborating with key pharma players for expanding their production capacity.
The competitive landscape of the market has also been analyzed in the report along with the profiles of key players.
Key Questions Answered in This Report:
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