Low Investment Costs to Heighten Generic Injectables Market Growth Prospects
Global generic injectables market is forecast to expand impressively at a CAGR of 13.3% during the forecast period (2020-2025). Governments worldwide are encouraging distribution and development of generic drugs so as to make them available to a larger populace, particularly rural people in the developing 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 Bn is incurred in the development of drug formulations, owing to stringent government regulations that ensure safety and efficacy of preclinical and clinical trials.
In comparison, development of generic drugs is an inexpensive process. This is because they are exempted from the requirement to conduct clinical trials and toxicity studies.
It is expected to reach a value of US$ 1.5 Bn by 2025-end. Moreover, expiry of blockbuster injectable molecules patents, research and development of large molecule generic injectables and strong pipeline of products are also anticipated to boost the market.
However, supply-chain disruptions in the wake of restricted air and water transport may prove to be a hindrance to the growth of the genetic injectables market.
Large Molecular Injectables to Register Stellar Growth
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. Rising demand for affordable biological products, accelerated research and development activities for biosimilar products and expected patent expiry of blockbuster molecules by 2020 are key drivers. Large molecular injectable drugs are anticipated to expand at a stellar CAGR of 34.8% 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. Increase in 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.
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Asia-Pacific Remains the Kingpin, North America Second-Most Lucrative Market
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 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. Projections indicate a staggering CAGR of 16.1%, capturing a market share of almost two-fifths of the overall global generic injectables market.
North America is projected to be the second-most lucrative market for generic injectables. This is mostly because of increase in the number of abbreviated new drug application (ANDA) approvals, rising demand for inexpensive biosimilar products and rising prevalence of lifestyle diseases. Projections indicate a robust CAGR of 11.4% during the forecast period.
Competitors Leveraging on New Pipeline Drugs to Gain Hegemony
Pfizer Inc., dominates the global generic injectables market, holding one-tenth of the total market share. It is the leading biosimilars company in the world and has consolidated its position through the advancement of six biosimilar pipeline products.
Currently, the company is in the process of developing a formula titled PF-06881894, a biosimilar to Neulasta® for oncology practitioners. Likewise, it is also developing a biosimilar for Rheumatoid Arthritis titled PF-06410293. Additionally, it has also developed Pfizerpen, a Penicillin G Potassium powder used as an antibiotic injection for intramuscular, continuous intravenous drip and intrathecal administration.
Sandoz Inc. is estimated to hold 1/20th of the global generic injectables market share. It also offers a strong biosimilar drugs pipeline. Its portfolio includes both blockbuster and niche products for all major therapeutic areas. Its generic drugs division includes Glatopa-based formulae such as Gilenya®, Afintor® and Glivec®. Sandoz operates globally through three franchises: retail generics, anti-infectives and biopharmaceuticals.
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COVID-19 Impact Analysis:
Several regions across the world have expressed concerns over the supply of generic injectable biosimilars running short. This is attributed to reduced availability of international air transportation and a significant increase in shipping expenses.
Countries such as the United States have pointed out that reduction in availability of international shipping will prove expensive, particularly for critical medicines. Rising shipping costs is anticipated to prove detrimental to the operations of smaller companies, as well as consumers who depend on these drugs for their health problems.
Dearth of information has made it difficult for various pharmaceutical companies and service providers to diagnose the potential impact COVID-19 has had on their operations. The rising number of COVID-19 infections on a daily basis has rendered healthcare providers embroiled in a deep quagmire of lack of adequate solutions.
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 in order to secure their supply.
Global Generic Injectables: Market Segmentation
Fact.MR has studied the global generic injectables market with detailed segmentation on the basis of product type, container type, application and key regions.
- Large Molecule Injectables:
- Small Molecule Injectables
- Prefilled syringes
- Infectious diseases
- North America
- Asia Pacific
- Eastern Europe
- Latin America
- Middle East & Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Global Generic Injectables Market- Scope Of The Report
The recent study by Fact.MR on global generic injectables market offers a 5-year forecast between 2020 and 2025. The study analyzes crucial trends that are currently determining the growth of generic injectables market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of generic injectables. The study also provides dynamics that are responsible for influencing the future status of the global generic injectables market over the forecast period.
A detailed assessment of the global generic injectables market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the global generic injectables market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Generic Injectables Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in global generic injectables market across the globe.
A comprehensive estimate of the global generic injectables market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global generic injectables market during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Generic Injectables Market: Analysis on Market Size Evaluation
The global generic injectables market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for generic injectables is available in terms of “US$ Mn” for value and thousand units for volume. A Y-o-Y growth contrast on prominent generic injectables market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Generic Injectables Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global generic injectables report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (economic, and business environment outlook), which are expected to have a momentous influence on the growth of the global generic injectables market during the forecast period.
Country-specific valuation on demand for generic injectables has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Global Generic Injectables Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global generic injectables along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of global generic injectables, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
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