The global generic injectable market is on track for extraordinary expansion, with a projected valuation of US$ 3,22,433.1 million by the year 2033. Forecasted to surge at a compelling Compound Annual Growth Rate (CAGR) of 11.6% from 2023 to 2033, the market is primed for substantial growth, with 2023 alone expected to reach a significant valuation of US$ 1,07,419.72 million.
A key catalyst driving this remarkable growth trajectory is the escalating prevalence of chronic diseases, compelling investments in innovative solutions within the generic injectables domain. The imperative need for immediate treatment options has heightened the demand for intravenous (IV) or intramuscular (IM) routes of drug administration. Notably, the intramuscular administration of insulin stands as a prime example, demonstrating enhanced patient outcomes and driving market expansion.
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Generic injectable products emerge as pivotal players in this landscape, offering a myriad of advantages. These include expedited approvals, augmented availability of biologic drugs in development pipelines, and an elevated preference for injectable drug delivery systems.
Industry experts predict that the surge in demand for immediate and effective treatments, coupled with the advantages inherent to generic injectables, will continue to fuel this market’s growth trajectory.
Key Takeaways from Generic Injectable Market Study:
- The U.S. is estimated to emerge as a highly attractive market, accounting for more than 29% of the overall sales during the assessment period.
- France is projected to hold a significant share in the Europe market, exhibiting sales growth at 12% year-over-year growth in 2021.
- The sales in the U.K. are anticipated to rise at 11% year-on-year, owing to the increasing prevalence of lifestyle diseases such as diabetes in the country.
- On the basis of molecule type, the large molecule type segment is forecast to dominate the market, accounting for nearly 57% of the value share through 2031.
- In terms of application, the diabetes segment is projected to register the fastest growth in the segment, expanding at a massive CAGR of 12% over the forecast period.
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Key Drivers:
- Increasing prevalence of chronic diseases such as cancer in countries such as the U.S., China, India, Germany, Japan, and others is propelling the demand for generic injectable in the chemotherapy agent segment.
- Rising adoption of intravenous injections by doctors owing to their ease of operations, lower cost, and better results on the treatment of number of life treating diseases and associated therapeutics are increasing the sales across in the intravenous segment.
Key Restraints:
- Need for complex equipment, appropriate certification, and sterilization standards for manufacturing generic injectables is hampering the growth in the market.
- Stringent regulatory approvals policies and mandates of maintaining high degrees of care while manufacturing, packaging, storage, and distribution are restricting the growth of the market.
Competitive Landscape:
Leading players in the global generic injectable market are focusing on strengthening their market footprint by adopting strategies such as partnership, strategic collaboration, merger, and acquisition with various other organization. For instance,
- In January 2020, Merck, an American multinational pharmaceutical company, announced entering into a strategic collaboration with a Japanese pharmaceutical company, Taiho Pharmaceutical Co, Ltd, to emphasize on the development of small molecule injection inhibitors in cancer research for oncology platform.
- In March 2021, a leading pharmaceutical company, Pfizer Inc. and Eli Lilly and Company, an American pharmaceutical company, announced receiving an U.S. Food and Drug Administration (FDA) approved for their new product tanezumab, for treating osteoartities pain.
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Key Players Operating In The Market Profiled By FMI Are:
- Samsung Biologics Co Ltd
- Aurobindo Pharma Limited
- Sun Pharmaceutical Industries Ltd.
- Novartis AG
- Merck & Co. Inc.
- Cipla Ltd
- Pfizer Inc
- Fresenius Kabi
- Sanofi S.A
- AstraZeneca Plc
- Teva Pharmaceuticals.
- Mylan N.A
- Baxter International
- Dr. Reddy’s Laboratories Ltd
More Valuable Insights on Generic Injectable Market:
A detailed report published by FMI offers an unbiased analysis of the global generic injectable market, forecasting sales and demand statistics through 2021 and beyond. The survey reveals growth projections on in generic injectable market with detailed segmentation:
By Product type:
- Monoclonal Antibodies Generic injectable
- Immunoglobulin Generic injectable
- Cytokines Generic injectable
- Insulin Generic injectable
- Peptide Hormones Generic injectable
- Blood Factors Generic injectable
- Peptide Antibiotics Generic injectable
- Vaccines Generic injectable
- Small Molecule Antibiotics Generic injectable
- Chemotherapy Agents Generic injectable
By Molecule Type:
- Small Molecule Generic injectable
- Large Molecule Generic injectable
By Application:
- Oncology Generic injectable
- Infectious Diseases Generic injectable
- Diabetes Generic injectable
- Blood Disorders Generic injectable
- Hormonal Disorders Generic injectable
- Musculoskeletal Disorders Generic injectable
- CNS Diseases Generic injectable
- Pain Management Generic injectable
- Cardiovascular Diseases Generic injectable
By Route of Administration:
- Intravenous (IV) Generic injectable
- Intramuscular (IM) Generic injectable
- Subcutaneous (SC) Generic injectable
By Distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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