The latest report by IMARC Group, titled “Generic Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global generic injectables market size reached US$ 40.1 Billion in 2021. Generic injectables are alternative drugs that are bio-equivalent to their branded counterparts. They contain similar active ingredients, strength, quality, effectiveness, intended use, and dosage. These injectables help in the easy absorption of drugs into the body in liquid form, which reduces the frequency of dosage administration without affecting the effectiveness of the treatment. They are also cost-effective as they do not require investments in research and development (R&D) and promotional activities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Generic Injectables Market Trends:
Nowadays, the governing authorities of numerous countries are undertaking favorable initiatives to support the manufacturing of generic injectables. This can be accredited to the rising drug shortage and upcoming patent expiry of several branded drugs. Besides this, the increasing prevalence of chronic diseases like diabetes, cardiovascular disorders, and Alzheimer’s and the rising geriatric population that is more susceptible to such ailments are positively influencing the market growth. Moreover, generic injectables are widely adopted by patients who are unable to take medicines by mouth and have poor intestinal absorption. In addition, various key players are engaging in mergers and acquisitions (M&As) and partnerships to develop complex and differentiated products, which is creating a favorable market outlook across the globe. Furthermore, the emergence of self-injection devices, the improving healthcare infrastructures in developed and developing economies, and rapid technological advancements in drug delivery systems are some of the other factors augmenting the market growth. Looking forward, IMARC Group expects the market value to reach US$ 65.4 Billion by 2027, exhibiting a CAGR of 8.6% during the forecast period (2022-2027).
- On the basis of the therapeutic area, the market has been classified into oncology, anaesthesia, anti-infectives, parental nutrition and cardiovascular. Amongst these, the oncology segment holds the largest market share.
- Based on the container, the market has been categorized into vials, ampoules, premix, and prefilled syringes.
- On the basis of the distribution channel, the market has been bifurcated into hospitals and retail pharmacies. At present, hospitals exhibit a clear dominance in the market.
- Region-wise, North America holds the leading position in the market. Other major regions include Europe, Asia, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been studied in the report, with some of the key players being Hospira, Inc. (Pfizer Inc.), Fresenius Kabi AG, Hikma Pharmaceuticals PLC, Sandoz (Novartis), Sagent M&C, LLC, Sanofi S.A., and Baxter International, Inc.
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