Generic injectables are bio-equivalents of their branded counterparts which are not protected by drug patents. They are as safe and effective as the innovator drugs since they have similar active ingredient, dosage, strength, quality, form, etc. Although the manufacturing of generic injectables is complex, their R&D cycle is cheaper and shorter. Unlike branded drug manufacturers who spend millions of dollars on R&D and marketing, generic drug manufacturers do not require such investments. Moreover, 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.
Owing to the advantages offered by generic injectables, governments in various countries are supporting their manufacture. Additionally, an increase in drug shortages, especially in the US, along with patent expiry of a number of blockbuster drugs, aging population and rising prevalence of chronic as well as lifestyle diseases represent some of the other factors driving the growth of the market. According to IMARC Group’s latest report titled, “Generic Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global generic injectables market reached a value of US$ 28.9 Billion in 2018. The report further anticipates the market to reach US$ 49.8 Billion by 2024, growing at a CAGR of 9.4% over the forecast period.
The report has segmented the market on the basis of therapeutic area as oncology, anaesthesia, anti-infectives, parenteral nutrition, cardiovascular and others. Currently, the oncology segment accounts for the majority of the market share. Further, the report has segmented the market on the basis of distribution channels covering hospitals and retail pharmacy stores. Among these, hospitals account for the largest market share. On a regional-basis, the report covers North America, Europe, Asia, Latin America, and Middle East and Africa. North America represents the largest region, accounting for more than a half of the global market. The report has also analysed the competitive landscape of the market with some of the key players being Hospira (Pfizer), Fresenius Kabi, Hikma, Sandoz (Novartis), Sagent, Sanofi and Baxter.
This report provides a deep insight into the global generic injectables industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a generic injectables manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global generic injectables industry in any manner.
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