GCC Generic Injectables Market Projected to Reach a Value of US$ 776 Million by 2023

The GCC generic injectables market has witnessed a robust growth over the past several years. The growing geriatric population and prevalence of chronic diseases along with rising government support are escalating the demand for generic injectables in the region.

According to the latest report by IMARC Group, titled “GCC Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the GCC generic injectables market reached a value of US$ 392 Million in 2017. Generic injectables refer to drugs that have the same active ingredients, strength, dosage and route of administration as that of branded injectables. In the GCC countries, the demand for injectables is rising as they aim to increase patient compliance without compromising with the effectiveness of the treatment. Moreover, the lower cost of these injectables as compared to their branded equivalents helps in providing substantial savings for both the patients and healthcare providers.

Want to find out more about this report? Click here for a free sample: https://www.imarcgroup.com/request?type=report&id=964&flag=B

Market Trends:

In the GCC countries, the proportion of people aged 65 or more is predicted to increase due to declining fertility rates and increasing life expectancy. As a result of the subsequent increase in the prevalence of geriatric diseases and conditions, the sales of generic injectables in the region are expected to increase. Further, the pharmaceutical industry in Saudi Arabia, UAE, Kuwait and Qatar is at a nascent stage. In line with this, the governments of these countries are focusing on encouraging the domestic manufacturing and supply of these drugs to reduce costs. For instance, the Ministry of Health in the UAE is working on increasing the number of generic drug manufacturing facilities in the country. Apart from this, several domestic generic injectable manufacturers, particularly in Saudi Arabia, are collaborating with global and regional pharma players to expand their manufacturing capacity. Looking forward, the market is projected to reach a value of US$ 776 Million by 2023, expanding at a CAGR of 12.1% during 2018-2023.

Browse full report with complete TOC: https://www.imarcgroup.com/gcc-generic-injectables-market

GCC Generic Injectables Market Segmentation:

Market Performance by Therapeutic Area:

1. Oncology

2. Anaesthesia

3. Anti-infectives

4. Cardiovascular

5. Parenteral Nutrition

6. Others

Based on the therapeutic area, oncology dominates the market, holding the largest share. Other major segments include anesthesia, anti-infectives, cardiovascular and parenteral nutrition.

Market Performance by Distribution Channel:

1. Hospitals

2. Clinics

3. Retail Pharmacy Stores

The market has also been divided on the basis of distribution channels into hospitals, clinics and retail pharmacy stores. Generic injectables are majorly distributed through hospitals.

Market Performance by Container Type:

1. Vials

2. Prefilled Syringes

3. Ampoules

4. Premix

5. Others

On the basis of container type, the market has been segmented as vials, prefilled syringes, ampoules and premix. Amongst these, vials are the preferred container type, accounting for the majority of the overall market share.

Market Performance by Key Regions:

1. Saudi Arabia

2. UAE

3. Kuwait

4. Qatar

5. Oman

6. Bahrain

Region-wise, Saudi Arabia enjoys the leading position in the GCC generic injectables market. Saudi Arabia is followed by the UAE, Kuwait, Qatar, Oman and Bahrain.

Competitive Landscape:

The competitive landscape of the GCC generic injectables market has also been analyzed with the profiles of the key players.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us

IMARC Group
309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal

This release was published on openPR.