Generic Injectables Market Demand 2022-2028: Rising Prevalence Of Infectious, Neurological, And Cardiovascular Disorders, Growing Burden Of Chronic Diseases Such As Cancer And Diabetes
The global generic injectables market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rise in global geriatric population, rising prevalence of infectious, neurological, and cardiovascular disorders, growing burden of chronic diseases such as cancer and diabetes, and surging demand for generic injectables.
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Generic injectables are biologics that act as low-cost alternatives to their branded counterparts. These injectables are highly similar to their branded versions in terms of form, dosage, safety, efficacy, and route of administration, and they also contain the same active pharmaceutical ingredients as those in the branded ones, although there may be variations in the inactive ingredient content. Generic injectables demonstrate bioequivalence, implying that they offer the same clinical benefits as those offered by the branded versions. The Office of Generic Drugs (OGD) of the US Food & Drug Administration (FDA) ensures all generic drugs comply with the same drug safety and quality standards that are met by their branded counterparts.
The global Generic Injectables market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending, and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers, and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Generic Injectables market is significantly driven by factors such as the increasing prevalence of chronic diseases, rapid advancements in the healthcare and medical sector, high adoption of the latest tools and techniques, and growing funds by several public and private sectors. In addition, the rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, and increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as a shortage of medicines, vaccines, and healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- AstraZeneca Plc
- Baxter International, Inc.
- Biocon Limited
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals plc
- Johnson & Johnson
- Lupin Limited
- Merck KGaA
- Mylan N.V.
- Novartis AG
- Pfizer, Inc.
- Piramal Pharma Solutions
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
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Generic Injectables Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Large-molecule Injectables
- mAb (monoclonal antibodies)
- Small-molecule Injectables
Container Type Outlook (Revenue, USD Billion; 2018-2028)
- Prefilled Syringes
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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