Generic Sterile Injectable Market Expected to Expand at a Steady 2021-2028 | Baxter Inc., Fresenius Kabi, Pfizer/Hospira, Novartis/Sandoz, Teva, Hikma

The Global Generic Sterile Injectable Market was valued at US$ 42,900 million in 2015 and is projected to expand at a CAGR of 10.2% during the forecast period (2017–2025).

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Lack of consistency in the available critical medication is expected to drive growth of the global generic sterile injectable market during the forecast period. Each year, an estimated 50 million people suffer from bone chronic diseases such as Cancer, heart attack, heart stroke, diabetes and other respiratory diseases. These disease are one of the leading cause of mortality in the world accounting up to 60% of worldwide deaths according to the World Health Organization (WHO). Thanks to the availability of generic sterile injectable that are used to treat these chronic diseases with the help of which, a substantial number of people who suffer from such diseases are saved due to proper medication.

Generic sterile injectable finds application in the treatment of various life-threatening diseases including cancer, cardiovascular diseases, and other severe functions. Since these drugs are available at competitive prices, they are witnessing high demand. The generic sterile injectable bears almost 90% less cost as compared to that of the branded sterile injectable drugs. However, the ANDA filing application procedure and the process of manufacturing the generic sterile injectable in as stringent as that of the branded drugs. According to a fact sheet released by Hospira in 2013, about 70% of the hospitals in patients receives generic sterile injectable suggesting high demands.

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These diseases results from living habits such as physical inactivity, poor diet as well as consumption of tobacco and alcohol. The chronic diseases has severe negative impact on health and economy of developing as well as developed countries. According to a scientific report published in Science literature, around 3 million deaths are caused due to cardiovascular diseases annually in China and India. Moreover, around 1.7 million people die due to tobacco consumption leading to cancer in China and India on an annual basis. According to WHO, 30% of these chronic diseases, mainly cancer are curable and can be treated with appropriate medication. Generic sterile injectable play a major role in treatment of such diseases. Moreover, not only the chronic diseases but it used for the treatment of damages to the central nervous system, infectious disorders and musculoskeletal diseases. Musculoskeletal is a condition that covers a huge segment of conditions such as rheumatoid arthritis, osteoarthritis, and osteoporosis and is characterized by cartilage joint damage that results in severe pain and mobility in the knees and hip joints. According to the WHO and United Nations, osteoarthritis is one of the most commonly caused musculoskeletal disorder affecting 9.6% males and 18% females age group of 60 and above, globally. In case of the infectious diseases, “Statista”- The Statistical Portal for 2014, suggests approximately 48,237,390 cases of malaria as well as 5,730,798 cases of tuberculosis worldwide. This creates highly lucrative growth opportunities for players in the global generic sterile injectable market.

Key takeaways of the generic sterile injectable market:
• The global generic sterile injectable market is expected to expand at a CAGR of 10.2% during the forecast period (2015–2025) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
• The constant shortage of availability and the high affordability of the generic sterile injectable, mostly for the treatment of chronic diseases drives the global generic sterile injectable market.
• Cancer, diabetes type 2, cardiovascular diseases and other infectious diseases including tuberculosis and malaria are the major therapeutic applications of the generic sterile injectable market as the prevalence of these diseases is high in number, globally.
• Some of the major players involved in global generic sterile injectable market Baxter Inc., Fresenius Kabi, Pfizer/Hospira, Novartis/Sandoz, Teva, Hikma, Sun Pharma, Dr. Reddy’s, Mylan, AstraZeneca Plc and Merck & Co. Inc.

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