According to the latest IMARC Group report, "GCC Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the GCC generic injectables market size reached US$ 525.8 Million in 2021. The generic injectable is a drug that is the bioequivalent of its branded counterparts and is not protected by drug patents. It consists of similar active ingredients, dosage, quality, and strength as their original counterparts, due to which its performance, intended use, quality, form, and route of administration are similar to that of the original equivalent. It offers various advantages, such as cost-effectiveness and better patient outcomes. Apart from this, it is safe and effective in the treatment of several chronic and life-threatening diseases, such as cancer, diabetes, cardiovascular ailments, respiratory infections and rheumatoid arthritis.
GCC Generic Injectables Market Trends:
The market in GCC is majorly driven by the increasing prevalence of chronic infectious diseases. In line with this, various pharmaceutical companies are heavily investing in research and development activities for manufacturing new generic injectables with increased efficacy, reduced adverse drug reactions, and improved patient output. Furthermore, the expiry of patents of various branded items and the decreasing number of new launches are positively influencing the market. Apart from this, the rising number of abbreviated new drug application (ANDA) approvals and the growing demand for inexpensive biosimilar products are catalyzing the market growth. Moreover, the increasing geriatric population and the rising prevalence of lifestyle disorders due to the sedentary lifestyles led by individuals are propelling the market. Besides, the governments of numerous countries across the GCC are undertaking efforts to offer their support to generic drug and injectable manufacturers. Additionally, rapid technological advancements in the manufacturing process of generic injectables are also providing a boost to the market. On account of the factors above, the market is anticipated to reach a value of US$ 1199.7 Million by 2027, exhibiting a CAGR of 15.5% during 2022-2027.
- On the basis of the container type, the market has been segmented into vials, prefilled syringes, ampoules, premix, and others. Among these, vials exhibit a clear dominance in the market.
- Based on the therapeutic area, the market has been categorized into oncology, anaesthesia, anti-infectives, cardiovascular, parenteral nutrition, and others. At present, oncology accounts for the largest market segment.
- Based on the distribution channel, the market has been classified into hospitals, clinics, and retail pharmacy stores, wherein hospitals represent the majority of the overall market share.
- On the basis of the region, the market has been divided into Saudi Arabia, UAE, Kuwait, Qatar, Oman, and Bahrain. Currently, Saudi Arabia holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
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