Albany NY, United States: During the peak of the coronavirus outbreak amid the second wave in India, there had been an unprecedented demand for Remdesivir - an antiviral medication for the treatment of patients.
Price Cuts, Drug Launch Gain Prominence amid COVID-19 Pandemic
Albany NY, United States: During the peak of the coronavirus outbreak amid the second wave in India, there had been an unprecedented demand for Remdesivir - an antiviral medication for the treatment of patients. Due to shortage in the supply of Remdesivir, companies in the generic injectables market such as Hetero Drugs, an Indian pharmaceutical company and one of world’s largest producer of anti-retroviral drugs, released its generic form of Remdesivir called Covifor.
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Manufacturers in the generic injectables market are becoming future-ready by maintaining adequate supply chains to prevent vulnerabilities caused by potential COVID-19-like situations. Drug firms including Zydus Cadila are observed to significantly reduce the price of its generic version of Remdesivir namely Remdac. Companies are taking the advantage of government programs and financial schemes offered by the BFSI sector to streamline their business activities as per the volatile market sentiments.
Challenges Posed by Syringe Inspection Affect Market Growth
Syringes are among the most difficult containers to inspect. With the largest vaccination effort in human history, challenges posed by syringe inspection become especially relevant while considering the ever-growing adoption of injectable drugs. These findings have led to the need of sophisticated inspection systems to help manufacturers address not only the coronavirus pandemic but also various other maladies.
While other containers such as cartridges, vials, and ampoules largely stand still and can enter the inspection process independently, syringes are typically carried via conveyor and then turned upside down. This has resulted in the need for robust inspection systems so that any hidden particles in the funnel can sink down into the liquid for increased inspection detectability.
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Manufacturers Expand Revenue Streams in Routine, Complex Injectable Products
The global generic injectables market is projected to clock a CAGR of 12.3% during the forecast period. Biological E Limited - an Indian biotechnology and biopharmaceutical company based in Hyderabad, Telangana, is gaining recognition for broadening its portfolio in 20 routine and complex injectable products. In order to establish stable revenue streams, companies are tapping into regulated markets and exploring other markets to generate income sources.
There is a growing demand for specialty generic injectables packaged in glass vials. Express Pharma in associated with West Pharma recently conducted a webinar to understand why emerging generic injectable manufacturers need flexibility and simplicity when dealing with drug delivery and containment.
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FDA-approved Generic for Hypoglycemia Indicated for Radiologic Examination of Stomach
The generic injectables market is expected to cross US$ 307.7 Bn by 2031. The U.S. FDA (Food and Drug Administration) has approved the first generic of glucagon for injection USP for the treatment of severe hypoglycemia, which may occur in patients with diabetes mellitus. The drug has potentials as a diagnostic aid in the radiologic examination of the stomach, duodenum, small bowel, and colon in cases when diminished intestinal motility would be advantageous.
Companies in the generic injectables market are increasing their research to develop products meant for oncology and cardiology in order to expand their income sources.
Generic Injectables Market: Regional Outlook
- In terms of region, the global generic injectables market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
- The generic injectables market report provides value and forecast for each region and country/sub-region from 2017 to 2031. The compound annual growth rates (CAGRs) for each of these regions and countries have also been provided for the forecast period from 2021 to 2031. The generic injectables market study also covers the competitive scenario in these regions.
Companies Mentioned in Report
- Key players in the global generic injectables market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
- Major companies profiled in the global generic injectables market report are
- AstraZeneca
- Baxter International, Inc.
- Biocon
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals plc
- Johnson & Johnson Services, Inc.
- Lupin Ltd.
- Merck KGaA
- Mylan N.V.
- Novartis AG (Sandoz International GmbH)
- Pfizer, Inc.
- Piramal Pharma Solutions
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
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