Generic Injectables Sales Are Poised To Flourish At A CAGR Of 13.3% To Reach A Value Of US$ 3.6 Billion By The End Of 2032, states Fact.MR
18 Jul 2022
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The large molecular injectables segment is projected to capture lion’s share in the global generic injectables market, accounting for 3/5th of the total market value
Fact.MR – A Market Research and Competitive Intelligence Provider: The global generic injectables market would be worth US$ 1.02 Bn in 2022 and have a double-digit CAGR of 13.3% between 2022 and 2032. Fact.MR states that with an ever-increasing demand for large-size molecular injectables, the global Generic injectables market is projected to reach US$ 3.6 Bn by the year 2032.
Demand for Large Molecular injectables will continue to thrive, with a documented CAGR of 34.8% during the 2015-2021 historical period of assessment, while demand for Generic Injectables in Oncology proliferated at a rate of 11.5% during the same period. The APAC will dominate the global market, registering a growth opportunity worth US$ 20.8 Million from 2022 to 2032. Oncology is into adoption of generic injectables. This demand is expected to grow at the rate of 11.5% in the forecast period.
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Key Takeaways from Market Study
North America, led by the US, is expected to hold the largest market share, expanding at the rate of 14.3% between 2022 and 2032.
Europe is riding on Baxter, which, along with Dorizoe, has developed over 20 generic injectable products inclusive of oncolytic and cardiovascular medicines.
The Asia-Pacific is expected to grow at the fastest pace due to increase in frequency of outsourcing research activities to CROs.
Key Drivers Stimulating Generic Injectables Industry Expansion
The global generic sterile injectable market is principally propelled by the mounting prevalence of several chronic diseases like cancer, diabetes, and the increasing geriatric population across the globe.
Developing branded formulations is a time-consuming and expensive process. The average time required to develop a new chemical entity is a decade. A cost of US$ 5-8 Billion is incurred in the development of drug formulations, owing to stringent government regulations that ensure the safety and efficacy of preclinical and clinical trials.
Shortage of supply for numerous critical medicines, especially the injectable form of drugs that are mainly used in cancer chemotherapy, is a foremost problem faced globally. Due to constant scarcities, patients are unable to gain access to basic life-saving drugs, and this dearth is likely to sternly affect the expansion of the market.
Fact.MR estimates that the valuation of the generic injectables market is likely to reach US$ 250 Million by 2032 which evaluated nearly US$ 75 Million in 2021. Projections indicate a robust CAGR of 11.4% during the forecast period.
The treatment of cardiovascular diseases includes nanoparticle-based drug delivery as an ideal therapeutic alternative. This aspect is also responsible for augmenting the growth of the injectable drug delivery system in the region.
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Market Developments
The key participants are moving in the direction of fostering flawless client-customer relationship.
Hospira, Inc., in April 2022, announced acquiring Orchid Chemicals & Pharmaceuticals Ltd.’s business pertaining to generic injectable phaarmaceuticals for close to US$ 400 Bn.
The Buena, of late, ended up paying US$ 500,000 to AstraZeneca in cash for 17 injectables, 18 products, and aa topical. It is also about to make milestone payments of close to US$ 6 Bn. In Feb 2022, the company did pay royalty of almost US$ 3 Bn.
Cosette Pharmaceuticals Inc., in February 2022, did launch Prochlorperazine Edisylate injection. It’s generic equivalent to Compazine injection 10 mg/2 ml. This drug does help in curbing vomiting as well as severe nausea. The other usage is treatment of schizophrenia.
Key Segments Covered in the Generic Injectables Industry Survey
Generic Injectables by Product type
Large Molecule Injectables
mAb Generic Injectables
Insulin Generic Injectables
Other Generic Injectables
Small Molecule Injectables
Generic Injectables by Application
Generic Injectables for Oncology
Generic Injectables for Infectious Disease
Generic Injectables for Cardiology
Generic Injectables for Diabetes
Generic Injectables for Immunology
Others
Generic Injectables by Container Type
Vials
Ampoules
Premix
Prefilled syringes
Other
Generic Injectables by Region
North America Generic Injectables Market
Latin America Generic Injectables Market
Europe Generic Injectables Market
Asia Pacific Generic Injectables Market
Middle East & Africa Generic Injectables Market
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global generic injectables market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by product type (large molecule injectables, mAb generic injectables, insulin generic injectables, small molecule injectables, and other generic injectables), by application (oncology, infectious disease, generic injectables for cardiology (diabetes, immunology, and others)), by container type (vials, ampoules, premix, prefilled syringes, and likewise), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
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