The US generic injectables market reached a value of US$ 11.7 Billion in 2018. Generic injectables refer to bioequivalents of branded drugs that are not protected by patents. They are used for rapidly transporting the drug into the body, bypassing the first-pass metabolism. Since they have a similar quality, dosage, strength, effect and active ingredient, generic injectables are as safe and effective as innovator injectables. They are widely used in the United States on account of the rise in the prevalence of lifestyle ailments due to sedentary lifestyles, non-nutritive diet and aging population. They are utilized in the treatment of diseases such as cancer, diabetes, osteoporosis, osteoarthritis, rheumatoid arthritis, respiratory and cardiovascular disorders.
The US is witnessing a rise in the demand for generic injectables on account of increasing investment by the US Government for the development of generic drugs. It is focusing on promoting generic injectables to reduce healthcare expenditure in the country. Further, drug shortages in confluence with speedy approvals by the USFDA are expected to boost the manufacturing of these drugs. Moreover, several branded injectables firms are also anticipated to lose their patient protection in the upcoming years, thereby offering numerous remunerative opportunities to the generic injectables manufacturers. According to IMARC Group’s estimates, the market is further projected to reach US$ 18.3 Billion by 2024, exhibiting a CAGR of 7.5% during the forecast period (2019-2024).
Breakup by Therapeutic Area:
The report finds that the oncology segment exhibits dominance in the market as injectables are used to treat different types of cancers. It is followed by anti-infectives, cardiovascular, parenteral nutrition and anesthesia.
Breakup by Containers:
Currently, vials account for the majority of the total market share as they are flexible, easy to dispose of and cost-effective. They are followed by premix, prefilled syringes and ampoules.
Breakup by Distribution Channel:
At present, hospitals represent the largest segment as the injectables for oncology, anesthesia, and anti-infectives cannot be administrated without medical assistance.
The market is highly concentrated in nature with the presence of only a few top manufacturers who compete against one another in terms of prices and quality.
Key Questions Answered in this Report:
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