Global Generic Injectables Market is Expected to Register a CAGR ~13% during the forecast period of 2018–2023. Generic injectables is a key feedstock in pharmaceutical, diagnostics, biotechnology, diagnostic, and veterinary industries.
The Americas generic injectables market is expected to witness tremendous growth owing to the expansion of biosimilar products with off patenting of the major patented drugs is expected to drive growth of generic sterile injectable market during forecast period.
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For example, the loss of patent in 2017 for blockbuster brands such as Cancidas, Remicade, Cubicin, Invanz and Humira leading to entry of generic products. is also expected to drive the market. Other key factors such as the untapped market opportunities in emerging countries, growing investments by government organizations are contributing towards the growth of the market. However, in the negative perception of the consumers towards generic drugs coupled with stringent regulations laid down by the governments are few factors restraining the growth of the market.
Global Generic Injectables Market: Competitive Landscape
MRFR in its report has profiled some of the key players operating in the global market for Generic Injectables, which include:
- Novartis AG (Sandoz International GmbH)
- Baxter
- Fresenius SE & Co. KGaA
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd. and more.
Global Generic Injectables Market: Segmental Analysis
The global generic injectable market is segmented on the basis of product type, container, application, and distribution channel.
Global Generic Injectables Market: Regional Analysis
On the regional basis, the generic injectables market in the Americas is predicted to dominate the market during the forecast period. The North American region holds substantial share in the global market. Unlike branded drug manufacturers that invest huge amount of capital on R&D and marketing, generic drug manufacturers do not require such investments. Furthermore, the number of competitors in the generic injectables market is lower as compared to oral generics, resulting in limited price erosion and significantly higher profit margins.
Currently, the Global Generic Injectables Market is dominated by numerous players. The major players in this market are involved in new product launches, strategic partnerships and collaborations to increase their product portfolio. For instance, in December 2016, Baxter acquired injectables from Claris for the production of injectable medicines such as anesthesia and analgesics, anti-infective, renal, and critical care medications.
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