Growing demand for prompt and effective treatment for chronic diseases along with constant innovation in generic injectable drives the market sales.
Future Market Insights, Dubai: The global generic injectable market is anticipated to grow at 11.6 % CAGR by the end of 2031. Expiration of branded product patents fueled the development of generic injectables and influenced the market growth.
Increase in chronic and lifestyle based diseases such as obesity and high blood pressure across the world has surged the medical and treatment cost of the diseases. Growing government assistance towards development of generic medication will boost the market sales, finds ESOMAR-certified consulting firm Future Market Insights in this study.
According to World Health Organization [WHO], Number of diabetic patients across the globe is anticipated to increase to 422 Million in 2030. With surge in demand for intramuscular delivery of insulin and growing inclination towards injectable drug delivery, promising growth is on the cards for the market.
“Consistent research towards scaling of biologics and its integration with conventional injectable market along with demand for broad range of products will positively influence market growth,” remarks the FMI analyst.
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- Increased government and private funding on research and development of new treatment using large molecules and discovery of new molecules will provide lucrative market expansion opportunities in US.
- Constant innovation in drug development pipelines enhancement of production facilities of leading market players are driving the market growth in UK
- China is expected to be a lucrative market for the forecast period of 2020-2030. Growing awareness campaign related to hypertension and diabetes and increasing government initiative towards development of generic injectables for cancer are major market drivers in China.
- Reduced new product launches by branded companies coupled with lapse of patents has surged the generic injectables market demand in India.
- High effectiveness of intravenous injectibles in treating life threatening diseases drives the market sales of IV-generic injectables.
- Low cost of generic injectable along with its easy handling features is accelerating the generic injectable market growth.
- Use of modern injectables facilitating quick recovery of patients by boosting immunity of the patient is expected to fuel the market growth.
- Rising prevalence of diabetes among urban population of emerging economies will intensify the market demand.
- Limited clinical statistics regarding the efficacy of generic injectables hamper the market growth.
- Insufficient understanding of side effects and other safety concerns associated with use of generic injectables during chronic diseases treatment restrict the market growth.
- High regulatory cost to follow FDA mandated guidelines during manufacturing as well as during distribution will negatively affects the market sales.
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Their main area of focus for the market players is performing merger, acquisition and strategic collaboration to expand their market foothold. They are also employing aggressive marketing techniques and promotional activities to increase brand awareness in prescription market.
- Pfizer Inc. and Eli Lilly and Company launched U.S. FDA approved tanezumab in March 2021, for treating osteoartities Pain.
- Merck strategically collaborated with Taiho Pharmaceutical Co, Ltd. And Taiho Pharmaceutical Co. Ltd in 2020, with sole aim to boost their cancer research on small molecule in injection inhibitors.
- Sanofi S.A acquired Biogen Spin-Off for US$ 11.6 Bn in January 2019.
Some of the leading companies operating in the market 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 Insights on FMI’s Generic injectable Market
The latest market study on global generic injectable market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of various segments. These are:
- 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
- Small Molecule Generic injectable
- Large Molecule Generic injectable
- 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
Route of Administration
- Intravenous (IV) Generic injectable
- Intramuscular (IM) Generic injectable
- Subcutaneous (SC) Generic injectable
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa (MEA)
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