According to the latest report by IMARC Group, titled “GCC Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the GCC generic injectables market size reached US$ 500 Million in 2019. Generic injectables refer to drugs that have the same active ingredients, strength, dosage and route of administration as that of branded injectables. In the GCC countries, the demand for injectables is rising as they help to increase patient compliance without compromising the effectiveness of the treatment. Moreover, the lower cost of these injectables, as compared to their branded equivalents, helps in providing substantial savings for both the patients and healthcare providers.
GCC Generic Injectables Market Trends:
In the GCC region, there has been an rise in the proportion of the geriatric population, due to declining fertility rates and increasing life expectancy. This is expected to boost the sales of the generic injectables across the country for treating the diseases prevalent among the elderly. Furthermore, as the pharmaceutical industry in the GCC region is at a nascent stage, the governments of the countries are focusing on enhancing domestic manufacturing and supplying these drugs at affordable costs. For instance, the Ministry of Health in the UAE is working to increase the number of generic drug manufacturing facilities in the country. Apart from this, several domestic generic injectable manufacturers, particularly in Saudi Arabia, are collaborating with global and regional pharma players to expand their manufacturing capacity. Looking forward, the market value is projected to reach US$ 942 Million by 2025, registering at a CAGR of 11% during 2020-2025.
- Based on the container type, the market has been segmented into vials, prefilled syringes, ampoules, premix and others. Currently, vials are the most popular segment as they are compact in size, can be reused and are graduated with markings for convenience.
- On the basis of the therapeutic area, oncology represents the largest segment, accounting for the majority of the overall market share. Other major therapeutic areas are anesthesia, anti-infectives, cardiovascular, parenteral nutrition and others.
- The market has been categorized based on the distribution channel into hospitals, clinics and retail pharmacy stores. Amongst these, generic injectables are mostly distributed through hospitals.
- Region-wise, Saudi Arabia holds the leading position in the market. Other major regions are the UAE, Kuwait, Qatar, Oman and Bahrain.
- The competitive landscape of the market has also been examined in the report, providing the detailed profiles of the key players operating in the industry.
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