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Generic Injectables Market

Generic Injectables Market

Generic Injectables Market by Product Type (Large Molecule Injectables, mAb Generic Injectables, Insulin Generic Injectables), by Application (Oncology, Cardiology), by Container Type (Vials, Ampoules Premix, Prefilled syringes) by Region - Global insights 2022-2032

Generic Injectables Market
FACT4681MR
  • Apr-2020
  • List of Tables : 106
  • List of Figures : 88
  • 170 Pages
  • Healthcare

Generic Injectables Industry Insights (2022-2032)

The global generic injectables market is likely to be valued at US$ 1.02 Billion in FY 2022, up from US$ 0.8 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 13.1%. From 2022 to 2032, 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.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 800 Million

Expected Market Value (2022)

US$ 1.02 Billion

Projected Forecast Value (2032)

US$ 3.6 Billion

Global Growth Rate (2022-2032)

13.3% CAGR

Growth Rate of the U.S Market (2022-2032)

11.5% CAGR

Expected Market Value of China (2032)

US$ 20.8 Billion (Approx.)

U.K Market Expansion Rate (2022-2032)

14.3% CAGR

Key Companies Profiled

  • AstraZeneca
  • Baxter International Inc.
  • Biocon
  • Fresenius SE & Co. KGaA
  • GlaxoSmithKline plc
  • Hikma Pharmaceuticals PLC
  • Johnson and Johnson Services, Inc.
  • Lupin; Merck & Co., Inc.
  • Viatris Inc.
  • Pfizer Inc.

The global market for Generic Injectables is poised to yield absolute dollar growth worth US$ 3.5 Million by 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.

Fact.MR estimates that the global Generic Injectables industry is projected to grow at a CAGR of 13.3% from 2022 to 2032, generic injectables in cardiology are poised to witness a dexterous 13.1% CAGR. 

2015 to 2021 Generic Injectables Market Revenue Analysis vs. Market Outlook 2022-2032

Fact.MR has predicted the Generic Injectables market to upswing at 13.3% CAGR between 2022 and 2032 in comparison to the 11.3% CAGR throughout the historic period. The rising number of cancer patients has augmented the need to use generic formulae to develop affordable and quality drugs across the globe.

In recent years, demand for generic drugs has seen a prolific rise. High developmental and investment costs associated with branded formulations have prompted key players to invest in alternative formulae which are more affordable and accessible to people, especially in the developing world.

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Key Drivers Stimulating Generic Injectables Industry Expansion

Prevalence of Chronic Diseases & Cheaper Manufacturing Cost to Push Demand

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.  

The old age people are more prone to numerous diseases and spend more on healthcare, thus impelling the growth of the generic sterile injectable market. According to a report by International Agency for Research on Cancer, nearly 19.3 billion new cases of cancer and 10 billion cancer death were testified in 2021.

Moreover, governments in several countries are reassuring the dispersal and development of generic drugs to make them available to a larger populace, particularly rural people in emerging countries.

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.

In comparison, the development of generic drugs is an inexpensive process. This is because they are exempted from the requirement to conduct clinical trials and toxicity studies.

Key Challenges to Generic Injectables Industry Expansion

Shortage of Raw Material & Intensifying Shipping Expenses Restrains the Market Expansion

Several regions across the world have expressed concerns over the supply of generic injectable biosimilars running short. This is attributed to the reduced availability of international air transportation and a significant increase in shipping expenses.

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.

The causes for the shortage of drugs are swelling manufacturing issues like the induction of particulate matter in the vials, equipment failures, and fungal or bacterial contaminations, postponement in supply owing to unavailability of raw material to begin drug manufacture, and shortage of active pharmaceutical ingredients (API).

Countries such as the United States have pointed out that a reduction in the availability of international shipping will prove expensive, particularly for critical medicines. Rising shipping costs are anticipated to prove detrimental to the operations of smaller companies, as well as consumers who depend on these drugs for their health problems.

Nevertheless, there exists a silver lining in the generic injectables market. Generic-drug pricing may leverage in the short-run, owing to scarcity created by supply-chain disruptions. This will prompt consumers to pay a higher price for the drugs in the long run to secure their supply.

Country-wise Analysis

How Opportunistic are Growth Prospects across the U.S Market?

Growing Emphasis on Clinical Trails likely to Fortify Demand

North America is projected to be the second-most lucrative market for generic injectables. This is mostly because of an increase in the number of abbreviated new drug application (ANDA) approvals, rising demand for inexpensive biosimilar products, and rising prevalence of lifestyle diseases. 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.

Several prominent players are strengthening their positions in the region with augmented emphasis on clinical trials and through the introduction of several generic injectable drugs for critical diseases like cancer and diabetes.

For instance, Pfizer Inc. has recently partnered with Eli Lilly and Company, an American pharmaceutical company, to announce the approval of tanezumab, a generic injectable drug for treating osteoarthritis pain in the United States. With more proprietary drugs coming off patent in the approaching years, Pfizer has a far-sighted plan to develop generic versions of those injectables and acquire FDA consent to bring them to market.

Why are Generic Injectables Providers Venturing into Asia Pacific?

Asia-Pacific Remains the Kingpin in the Generic Injectables Industry

Asia-Pacific shows prolific growth opportunities for the global generic injectables market throughout the forecast period. High demand for injectable antibiotics in the wake of the high prevalence of infectious diseases such as diarrhea, typhoid, malaria, and cholera; increasing prevalence of cancer; high demand for inexpensive medicines, and a large market presence by key players are anticipated to leverage the growth in the Asia-Pacific.

Prominent Manufacturers of generic medicines are exploring the untapped potential for the prefilled syringes market in countries like Japan, Australia, China, and India. Besides, with the fiery upsurge in the population, the demand for syringes will flourish even further with the amplified consumption of vaccines. According to National Health Commission (NHC), China has been depending largely on generic medicines; out of ~170,000 drug approvals allotted by the China FDA, over 93% are generics.

In India, Cardiovascular diseases are considered the most common cause of death. The snowballing rate of heart diseases, linked with the expansion of the pharmaceutical sector, is compelling the market growth in the country. 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.

Fact.MR projections indicate a staggering CAGR of 16.1%, capturing a market share of almost two-fifths of the overall global generic injectables market. The latest analytical report summarizes that the market evaluated nearly US$ 4.1 Million in 2021 which is likely to expand to US$ 20.8 Million by the end of the projection period.

Country-wise Value CAGRs for Generic Injectables (2022-2032)

U. S

11.5%

U. K

12.1%

China

16.1%

Japan

15.3%

South Korea

12.4%

Category-wise Insights

Which Product Type is Most Preferred in the Generic Injectables Market?

Large Molecular Injectables to Register Stellar Growth in Upcoming Future

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. Large molecular injectable drugs are anticipated to expand at a stellar CAGR of 14.8% during the forecast period.

At the same time, the small molecular injectables segment shall hold a little over two-fifth of the generic injectables market. An increase in the incidence of infectious diseases in developing countries, greater affordability, and easy availability are key growth influencers. Moreover, the small molecular injectable drugs have widespread usage in the treatment of oncology disorders, infectious diseases, blood diseases, and cardiovascular diseases.

By Application, which Generic Injectables are expected to Dominate?

Increasing Prevalence & Expensive Cost of Cancer Treatment Offers Significant Boost in Generic Therapeutics Demand

Based on the Application, the oncology segment captures nearly 30% share in the global generic injectables. The global generic oncology sterile injectable market size is estimated at nearly US$ 11.4 Million in 2019 and is expected to surpass the US$ 42 Million mark through 2032, witnessing a CAGR of 11.5% over the forecast period. Key manufacturers in the U.S. are concentrating on launching novel products to bargain low-cost treatments for patients.

The growth of the global Oncology Generic Injectable Drugs Market is mainly attributed to aspects such as patent expiry, rising incidence, and pervasiveness of cancer all over the world. Other reasons for the market growth comprise growing demand for generic injectables in developing countries owing to their low cost, combined with availability without prescription and a mounting number of patients undertaking chemotherapy worldwide.

Favorable governmental regulations to provide better treatment for the diseases like cancer in hospitals have boosted the generic therapeutics demand in the oncology sector. Since the cost of conventional treatment is highly expensive for such diseases, thereby there has been an increased emphasis on generic therapies for the treatment of cancer.

Competitive Landscape

Prominent generic injectables providers are reliant on partnerships, collaborations, acquisitions, and new software launches to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

  • In April 2022, Hospira, Inc., the world leader in generic injectable pharmaceuticals, announced the acquisition of the generic injectable pharmaceuticals business of Orchid Chemicals & Pharmaceuticals Ltd., a leading Indian pharmaceuticals company, for approximately $400 Billion.
  • Recently, The Buena, NJ-based company paid AstraZeneca $500,000 in cash for 18 products, 17 injectables, and one topical, and will make milestone payments of up to $6 Billion. The company also paid a royalty of nearly $3 Billion in Feb 2022.

An Adaptive Approach to Modern-day Research Needs

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

- FAQs -

As of 2021, Fact.MR estimated the generic injectables market to have reached US$ 800 Million
By 2022, Fact.MR expected demand for generic injectables to reach US$ 1.02 Billion
From 2015-2021, the Generic Injectables market grew at a 13.1% value CAGR
From 2022-2032, generic injectables demand is likely to surge at a 13.3% CAGR
By 2032, the market for generic injectables is likely to be valued at US$ 3.6 Billion
By 2032, Fact.MR expects the U.S market for generic injectables to reach US$ 250 Million
China is expected to register a 16.1% CAGR in the generic injectables industry
South Korea and Japan are expected to document CAGRs worth 12.1% and 15.3% respectively in the generic injectables market
Large molecular generic injectables will be maximum, expanding at a 6.4% CAGR
Generic injectables for oncology segment will remain most preferred, expanding at a CAGR of 11.5% until 2032

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