US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112024A816
Buy Now

Market Overview:

The US generic injectables market size reached US$ 18.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028. The increasing demand for cost-effective healthcare, the upcoming expiration of patent drugs, and the implementation of favorable initiatives to encourage the use of generic drugs, including injectables are among the key factors driving the market growth.

Report Attribute
 Key Statistics 
Base Year
2022
Forecast Years
2023-2028
Historical Years
2017-2022
US Generic Injectables Market Size in 2022
US$ 18.1 Billion
US Generic Injectables Market Forecast in 2028
US$ 32.7 Billion
US Generic Injectables Market Growth Rate (2023-2028) 9.8%


Generic injectables, also known as generic sterile injectable drugs, are pharmaceutical products that are equivalent to their branded counterparts in terms of active ingredients, dosage form, strength, route of administration, quality, safety, and efficacy. These medications are administered through injection and are used for various therapeutic purposes, including the treatment of acute and chronic conditions. Generic injectables are produced after the expiration of patents held by the original brand-name drug manufacturers. Once the patent protection ends, other pharmaceutical companies can develop and manufacture generic versions of the injectable drug. These generic versions undergo rigorous testing and approval processes by regulatory authorities, such as the U.S. Food and Drug Administration (FDA), to ensure their safety, effectiveness, and quality.

The market is primarily driven by the increasing prevalence of chronic diseases. Chronic diseases such as cancer, diabetes, and cardiovascular diseases require long-term treatment, often involving injectable medications. The growing prevalence of these diseases in the US population drives the demand for injectables, including generic versions as generic injectables offer a cost-effective solution for managing chronic conditions. In addition, the US population is aging, leading to an increased demand for healthcare services, including injectable medications. As the elderly population grows, there is a higher incidence of age-related conditions that require injectable treatments. Moreover, generic injectables manufacturers are expanding their manufacturing capabilities, both in the US and globally. This increased capacity allows for a wider range of generic injectables to be produced and supplied to the US market. The availability of a diverse portfolio of generic injectables is also propelling the market growth.

US Generic Injectables Market Trends/Drivers:

The increasing demand for cost-effective healthcare

The rising healthcare costs in the US have put a strain on patients and healthcare systems. Generic injectables offer a more affordable alternative to branded injectable drugs. By choosing generic injectables, patients can save on their out-of-pocket expenses, while healthcare systems and insurance providers can reduce their overall healthcare expenditures. The cost savings associated with generic injectables contribute to increased adoption and utilization in the healthcare system. Moreover, generic injectables enhance access to essential drugs by offering more affordable options. This is particularly beneficial for patients who may face financial barriers in accessing branded drugs. With a wider availability of cost-effective generic injectables, more patients can access the medications they need, improving overall healthcare outcomes.

Patent expirations of branded drugs

Generic injectables are similar in terms of active ingredients, dosage form, strength, and route of administration to the branded drugs. The expiration of patents allows generic manufacturers to introduce affordable alternatives, providing patients and healthcare providers with a wider range of options. Moreover, the introduction of generic injectables following patent expirations improves access to medications. Branded drugs can be prohibitively expensive for some patients, leading to limited access and potential gaps in treatment. Generic injectables provide a more affordable option, ensuring that patients have access to essential medications. Improved access to medications can lead to better health outcomes and overall patient satisfaction.

The implementation of government initiatives

Government initiatives, particularly those implemented by regulatory authorities like the U.S. Food and Drug Administration (FDA), aim to streamline the approval process for generic drugs, including generic injectables. These initiatives often include measures to expedite the review and approval of generic products, reducing the time and cost required for manufacturers to bring their generic injectables to market. Moreover, government initiatives often focus on promoting price transparency and implementing reimbursement policies that encourage the use of cost-effective medications, including generic injectables. These policies may involve preferential reimbursement for generic drugs or the establishment of formularies that prioritize the use of generic injectables. By incentivizing the adoption of cost-effective options, government initiatives help drive the demand for generic injectables in the market.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

To get more information about this market, Request Sample

US Generic Injectables Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the US generic injectables market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on therapeutic area, container, and distribution channel.

Breakup by Therapeutic Area:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

To get more information about this market, Request Sample

  • Oncology
  • Anesthesia
  • Anti-Infectives
  • Parenteral Nutrition
  • Cardiovascular
     

Oncology represents the leading application segment

The report has provided a detailed breakup and analysis of the market based on the therapeutic area. This includes oncology, anesthesia, anti-infectives, parenteral nutrition, and cardiovascular. According to the report, oncology represented the largest segment.

Cancer is a significant health concern globally, including in the United States. The high prevalence of cancer creates a substantial demand for oncology treatments, including injectable medications. Oncology injectables are used in various cancer therapies, such as chemotherapy, immunotherapy, and targeted therapy. As the incidence of cancer continues to rise, the demand for oncology injectables increases accordingly. Moreover, cancer treatment can be financially burdensome for patients and healthcare systems. Generic oncology injectables provide cost savings compared to branded counterparts, allowing for more affordable cancer care. As cost considerations play a significant role in cancer treatment decisions, the availability of cost-effective generic oncology injectables has fueled their demand and market growth.

Breakup by Container:

  • Vials
  • Ampoules
  • Premix
  • Prefilled Syringes
     

Vials account for the majority of the market share

A detailed breakup and analysis of the market based on the container has also been provided in the report. This includes vials, ampoules, premix, and prefilled syringes. According to the report, vial accounted for the largest market share.

Vials are highly versatile and compatible with a wide range of injectable medications. They can accommodate various formulations, including liquid solutions, suspensions, and lyophilized (freeze-dried) powders, making them suitable for a diverse range of drugs. Vials can be used for both small molecule drugs and biologics, further increasing their applicability in the market. Moreover, vials have been widely accepted and approved by regulatory authorities, such as the U.S. Food and Drug Administration (FDA), for packaging injectable drugs. They meet stringent quality and stability requirements to ensure the integrity and shelf life of the medications. The established regulatory acceptance and stability of vials make them a preferred choice for generic injectable manufacturers.

Breakup by Distribution Channel:

  • Hospitals
  • Retail Pharmacy
     

Generic injectables are widely distributed through hospitals

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes hospitals and retail pharmacy. According to the report, hospitals accounted for the largest market share.

Hospitals often have centralized drug procurement systems that enable efficient purchasing and inventory management. By including generic injectables in their formularies and procurement processes, hospitals can optimize their drug supply chain and ensure a steady and reliable stock of medications. This centralized approach facilitates cost-effective procurement, volume discounts, and streamlines the distribution of generic injectables. Moreover, hospitals maintain formularies, which are lists of approved medications that healthcare providers can prescribe to patients within the institution. Formularies often include a mix of brand-name and generic medications, with an emphasis on cost-effectiveness, thus increasing the market share of hospitals.

Competitive Landscape:

At present, key players are focusing on expanding their portfolio of generic injectables across a wide range of therapeutic areas. They are also investing in research and development (R&D) activities to identify and develop new generic injectables. Moreover, many key players are engaging in strategic partnerships, collaborations, and acquisitions to strengthen their market foothold. These partnerships also involve licensing agreements, joint ventures, or distribution agreements with other companies to enhance their product offerings and expand their geographic reach. Besides, key players are expanding their manufacturing capacities to meet the increasing demand for generic injectables. This includes setting up new production facilities, enhancing existing facilities, and adopting advanced manufacturing technologies.

The report has also provided a comprehensive analysis of the competitive landscape in the market. Some of the companies covered in the report include:

  • Hospira (Pfizer Inc.)
  • Hikma Pharmaceuticals PLC
  • Fresenius Kabi AG
  • Sagent Pharmaceuticals, Inc
  • Sandoz (Novartis).
  • Henry Shein Inc.

Recent Developments:

  • Sandoz received FDA approval for its generic version of Sandostatin LAR (octreotide acetate for injectable suspension), a long-acting injectable medication used for the treatment of acromegaly, a hormonal disorder.
  • Fresenius Kabi launched a generic version of isoproterenol hydrochloride injection, a medication used for the treatment of bradycardia (slow heart rate) and heart block.
  • Pfizer Inc. launched biosimilars, including injectables such as Trazimera (trastuzumab), a biosimilar to Herceptin, used for the treatment of HER2-positive breast cancer.

US Generic Injectables Market Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Therapeutic Area
  • Container
  • Distribution Channel
Therapeutic Areas Covered Oncology, Anesthesia, Anti-Infectives, Parenteral Nutrition, Cardiovascular
Containers Covered Vials, Ampoules, Premix, Prefilled Syringes
Distribution Channels Covered Hospitals, Retail Pharmacy
Companies Covered Hospira (Pfizer Inc.), Hikma Pharmaceuticals PLC, Fresenius Kabi AG, Sagent Pharmaceuticals, Inc, Sandoz (Novartis), and Henry Shein Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the US generic injectables market from 2017-2028.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the US generic injectables market.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the US generic injectables industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

The US generic injectables market was valued at US$ 18.1 Billion in 2022.

We expect the US generic injectables market to exhibit a CAGR of 9.8% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic has led to the easy availability of generic injectables via online pharmacies with free doorstep delivery, to combat the risk of the coronavirus infection across the nation.

The rising utilization of generic injectables in treating various cardiovascular disorders without affecting the efficacy of the treatment is primarily driving the US generic injectables market.

Based on the therapeutic area, the US generic injectables market can be segmented into oncology, anesthesia, anti-Infectives, parenteral nutrition, and cardiovascular. Among these, oncology holds the majority of the total market share.

Based on the containers, the US generic injectables market has been divided into vials, ampoules, premix, and prefilled syringes, where vials currently exhibit a clear dominance in the market.

Based on the distribution channel, the US generic injectables market can be segregated into hospitals and retail pharmacy. Currently, hospitals account for the largest market share.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More