|02-14-2019 11:35 AM CET - Health & Medicine||
Specialty Injectable Generics Market Outlook to 2026 with Top Key Players Pfizer, Mylan N.V., Teva Pharmaceuticals Industries Ltd., Fresenius SE & Co. KGaA, Hikma Pharmaceuticals Plc.
Press release from: Coherent Market Insights
Specialty injections are high cost medications or drugs that are used to treat various complex diseases such as cancer, HIV, rheumatoid arthritis, hemophilia, and central nervous system diseases. Specialty injections are often biologics that are produced by biotechnology methods. Specialty drugs are complex to manufacture. Some specialty injectable can be self-administered.
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.
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Specialty Injectable Generics Market Key Players:-
1. Pfizer Inc.
2. Mylan N.V.
3. Teva Pharmaceuticals Industries Ltd.
4. Fresenius SE & Co. KGaA
5. 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.
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.
In 2016, Teva Pharmaceuticals Industries Ltd. launched generic equivalent to Imitrex 1 (sumatriptan) injection, 4mg and 6mg single-dose. Sumatriptan is used in the treatment of acute migraines and acute cluster headaches in adults. Sumatriptan injection can be self-administered subcutaneously into the outer thigh or an arm.
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.
In 2015, Endo International Plc., a generic and specialty pharmaceutical company, acquired Par pharmaceutical companies Inc., which markets, develops, and distributes generic drugs in the U.S., to develop and enhance its generic injectable drugs portfolio and to double the revenue generated by its generic division.
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.
Restraints of specialty injectable generics market include high cost of medications, which is required over a long period of time. For instance, 1g Gemzar (gemcitabine) indicated for the treatment costs around US$ 800 in the U.S. and the price varies with region. Therefore, high cost of medications severely limits the adoption rate.
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.
Asia Pacific specialty injectable generics market is expected to witness significant growth over the forecast period owing to new product launches. For instance, in June 2018, Dr. Reddy’s Laboratories, an Indian pharmaceutical company, launched specialty generic injection Levetiracetram in sodium chloride injection, which is a generic version of HQ Specialty Pharma Corporation’s Levetiracetram in sodium chloride injection.
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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:
On the basis of region:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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This release was published on openPR.
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