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Generic Injectables Market growth is attributed to the increasing demand for Oncology Generic Injectables

05-25-2022 02:33 PM CET | Health & Medicine

Press release from: Precision Business Insights

According to Precision Business Insights (PBI), the latest report, the generic injectables market will be worth USD 22.0 billion in 2022, growing at an 11.0% CAGR from 2022 to 2028. The global generic injectables market is segmented into the following types: Product Type (Monoclonal Antibodies, Cytokines, Insulin, Peptide Hormones, Blood Factors, Immunoglobulins, Peptide Antibiotics, Vaccines, and Others), Indication (Diabetes, Cancer, Cardiovascular Diseases, Musculoskeletal, CNS, Infections, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Drug Stores, and Online Prescription Stores), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the Generic Injectables market report are AstraZeneca, Baxter International, Inc., Biocon, Fresenius SE & Co. KGaA, GlaxoSmithKline plc, Hikma Pharmaceuticals plc, Johnson & Johnson Services, Inc., Lupin Ltd., Merck KGaA, Mylan N.V., Novartis AG (Sandoz International GmbH), and Pfizer, Inc. The capacity of Asia's existing healthcare resources has been challenged by a growth in the emigrant population and an increase in acute and chronic disorders cases. As a result of the rise in overall healthcare expenses, demand for generic injectables has increased. Furthermore, the imminent patent expiration of several blockbuster medications prescribed in crucial therapeutic areas is projected to aid generic injectable manufacturers in improving their product portfolio. Other market drivers in this region include an aging population, the rise of the private healthcare sector, and rising living standards.

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Oncology Generic Injectables Segment to Dominate the Generic Injectables Market:
The oncology generic injectables segment is expected to account for a larger revenue share in the global generic injectables market. It is projected to grow at a 12.5% CAGR between 2022 and 2028. The oncology generic injectable segment is anticipated to develop due to patent expiration, rising cancer incidence, and worldwide prevalence. Growing demand for generic injectables in developing nations, owing to their low cost and an increasing number of patients undergoing chemotherapy globally, contributes to market expansion. Government laws that encourage hospitals to provide better treatment for diseases like cancer have boosted the demand for generic pharmaceuticals in the oncology market. Conventional cancer treatment is so expensive that there has been a greater emphasis on generic therapies for cancer treatment.

Asia Pacific Generic Injectables Market:
The Asia Pacific market is expected to hold a significant market share in the global generic injectables market over the forecast period. It is projected to grow at a CAGR of 13.5% in the coming years. The Asia-Pacific region has the largest market share for generic injectables, with China leading the way, followed by India. The rise of the generic injectables market in China can be attributed to expanding acceptance of modern technologies, a rising population, and favorable government policies. China has relied heavily on generic medications, with almost 95 % of the 170,000 drug licenses awarded by the China FDA being generics, according to the National Health Commission (NHC). Major pharmaceutical companies worldwide invest in generic injectable manufacturing facilities to lower corporate costs, enhance manufacturing units, and expand their presence in emerging markets like China and India.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Generic Injectables market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2022, Midatech Pharma, a drug delivery technology business focused on bio delivery and biodistribution of pharmaceuticals, announced the extension of its R&D collaboration with Johnson & Johnson's Janssen Pharmaceuticals; the company began this collaboration in July 2020.

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Detailed Segmentation:
The generic injectables market is segmented based on product type, indication, distribution channel, and geography.
Based on the product type:
• Monoclonal Antibodies
• Cytokines
• Insulin
• Vaccines
• Peptide Hormones
• Blood Factors
• Immunoglobulins
• Peptide Antibiotics
• Others

Based on the indication:
• Diabetes
• Cancer
• Cardiovascular Diseases
• Musculoskeletal
• Infections
• Others

Based on the distribution channel:
• Hospital Pharmacy
• Retail Pharmacy
• Drug Stores
• Online Prescription Stores

Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

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