Specialty Injectable Generics Market Set for Rapid Growth and Trend by 2026 Pfizer Inc, Mylan NV, Teva, KGaA
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Specialty drugs may also be defined as orphan or ultra-orphan drugs under the U.S. Orphan drug act 1983. This was enacted to facilitate development of orphan drugs, which are drugs for rare diseases such as Huntington’s disease, muscular dystrophy, amyotrophic lateral sclerosis, and myoclonus.
Specialty Injectable Generics Market Drivers:-
New product launches are expected to be a major driver for growth of the specialty injectable generics market. For instance, in 2015, Avatis Plc., a global specialty pharmaceutical company, launched specialty generic injections portfolio. This portfolio includes generic versions of Gemzar, Campostar, Taxotere, and Zometa, which are used for the treatment of cancer. Mergers and acquisitions are also expected to boost growth of the specialty injectable generics market size. For instance, in 2014, Sagent Pharmaceuticals Inc., a specialty pharmaceutical company, acquired Omega Laboratories Ltd., a specialty pharmaceutical company, to develop and enhance their specialty injectable portfolio.
Prevalence of diseases such as cancer, central nervous system disorders, and chronic diseases are also expected to drive the specialty injectable generics market growth. According to a survey conducted by the National Institute of Health in 2018, there are over 23,880 new cancer cases in the U.S.
Specialty Injectable Generics Market Regional Analysis:-
North America is expected to hold dominant position in the global specialty injectable generics market due to mergers and acquisitions. For instance, in May 2018, Impax Laboratories Inc. partnered with Amneal Pharmaceuticals Inc., a specialty pharmaceutical company to develop affordable and more accessible specialty injectable generics. This will lead to the development of new injectable generics for the treatment of various diseases.
New product launches are also expected to boost North America specialty injectable generics market growth. In March 2018, Teva pharmaceutical Industries Ltd. launched generic version of Aloxi injection 0.25mg/5ml called as Palonosetron hydrochloride injection in the U.S. market. Europe is expected to witness growth owing to rising number of cancer patients. According to a study conducted by the World Health Organization (WHO) in 2016, over 753,600 people were diagnosed with cancer in this region.
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Specialty Injectable Generics Market Key Players:-
Key players operating in this market include Pfizer Inc., Mylan N.V., Teva Pharmaceuticals Industries Ltd., Fresenius SE & Co. KGaA, and Hikma Pharmaceuticals Plc. New product launches by key players is expected to drive the specialty injectable generics market growth. For instance, in 2017, Mylan N.V., a global generic and specialty pharmaceuticals company, launched the generic version of Pfizer’s Cerebryx, which is an injectable variety of fasphenytoin sodium. Mergers and acquisitions is also expected to fuel growth of the market in this region. In 2017, Lupin Ltd. acquired Symbiomix Therapeutics LLC., a pharmaceutical company, to develop and expand in women health segment.
Specialty Injectable Generics Market Taxonomy:-
On the basis of product type:
On the basis of therapeutic applications:
Central Nervous System Diseases
On the basis of distribution channel:
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