The latest report by IMARC Group, titled “US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the US generic injectables market reached a value of US$ 11.7 Billion in 2018, growing at a CAGR of more than 10% during 2011-2018. Generic injectables are used as an alternative to innovator injectables without compromising the effectiveness of the treatment. They are available in the market only after the expiry of the innovator injectables. Generic injectables are extensively used for treating numerous life-threatening and chronic diseases such as cardiovascular diseases, respiratory diseases, diabetes, rheumatoid arthritis, cancer, osteoporosis and osteoarthritis. They are less expensive than their branded counterparts, thereby contributing in substantial savings for the patients and healthcare providers.
Highlights of the US generic injectables market:
- Expiry of branded injectables is expected to drive the growth of the market in the coming years.
- The majority of generic injectables are distributed through hospitals.
- On the basis of therapeutic area, oncology generic injectables account for the majority of the market share.
The US generic injectables market is being driven by numerous favourable factors. Due to sedentary lifestyles, poor eating habits and ageing population, an increasing number of people are suffering from various chronic diseases. As the treatment of these diseases depends on the use of generic injectables for improved effectiveness and cost savings, this has facilitated the growth of the market. Moreover, several branded injectables worth billions of dollars are projected to lose their patent protection in the coming years. This is expected to provide ample opportunities to the generic manufacturers so as to expand their business. Further, the low cost of generic injectables makes them an affordable healthcare option, owing to which the US government is supporting the production of these drugs. Besides this, the low competition in the market results in increased profit margins for the manufacturers. On account of these factors, the market is projected to reach a value of US$ 18.3 Billion by 2024.
The market has been analysed on the basis of therapeutic area where oncology represents the largest segment, followed by anaesthesia, anti-infectives, parenteral nutrition and cardiovascular diseases. On the basis of containers, vials dominate the market, accounting nearly two-thirds of the total share. Vials are followed by ampoules, premix and prefilled syringes. On the basis of distribution channel, hospitals account for the majority of the total sales, followed by retail pharmacy. After analysing the competitive landscape, it is found that the key players operating in the market include Hospira (Pfizer), Hikma, APP (Fresenius Kabi), Sagent, Sandoz (Novartis) and Henry Shein.
The report has examined the US generic injectables market on the basis of:
- Parenteral Nutrition
- Prefilled Syringes
- Retail Pharmacy
- Hospira (Pfizer)
- APP (Fresenius Kabi)
- Sandoz (Novartis)
- Henry Shein
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