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Rising Cancer Prevalence Fuels Growth In The Generic Oncology Sterile Injectable Market: Powering Innovation and Expansion in the Generic Oncology Sterile Injectable Market by 2025
Generic Oncology Sterile Injectable
What Is the Expected CAGR for the Generic Oncology Sterile Injectable Market Through 2025?
The size of the generic oncology sterile injectable market has seen significant growth in the past few years. The market's size is projected to increase from $17.17 billion in 2024 to $19.13 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 11.4%. The historical growth pattern has been driven by factors such as the expiration of patents for branded oncology drugs, a rising incidence of cancer, an increasing emphasis on cost-efficient healthcare solutions, regulatory backing for generic drugs, and the growth of generic pharmaceutical firms.
What's the Projected Size of the Global Generic Oncology Sterile Injectable Market by 2029?
The market size for generic oncology sterile injectable is predicted to experience fast expansion in the coming years, reaching an estimated $30.17 billion by 2029 with a compound annual growth rate (CAGR) of 12.1%. This predicted growth over the forecast period is associated with escalating healthcare investments, increased use of biosimilars in oncology, a growing pipeline of oncology drugs, higher worldwide cancer rates, and regulatory routes for generic sterile injectables. Foreseen trends during this forecast period comprise of the creation of sophisticated generic oncology drugs, accelerated use of cutting-edge manufacturing technologies, emergence of personalized treatment in oncology, increasing focus on biosimilar rivalry, and the consolidation of digital technologies in managing supply chains.
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Top Growth Drivers in the Generic Oncology Sterile Injectable Industry: What's Accelerating the Market?
The escalating incidence of cancer is anticipated to fuel the expansion of the generic oncology sterile injectable market in the future. Cancer encompasses a group of diseases that manifest when rogue cells multiply beyond control, trespass their usual limits, and either invade adjacent parts of the body or metastasize to other organs. Factors such as smoking, radiation, carcinogens, obesity, and gene mutations contribute to the increasing incidence of cancer. Generic oncology sterile injectable products are employed to reduce tumors and halt the proliferation of cancer cells. For example, the France-based International Agency for Research on Cancer reported in April 2024 that in 2022, nearly 20 million new cancer cases and about 10 million cancer-related deaths were recorded. Projections suggest that the number of new annual cases could rise to 35 million by 2050, marking a 77% surge from 2022. Therefore, the escalating incidence of cancer is propelling the growth of the oncology sterile injectable market.
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What Trends Will Shape the Generic Oncology Sterile Injectable Market Through 2029 and Beyond?
Product innovation is emerging as a significant trend in the generic oncology sterile injectable market. Leading companies within this market are focusing on creating innovative products in order to maintain their market standing. For example, Dr. Reddy's Laboratories, a pharmaceutical company based in India, introduced a generic version of Velcade, Bortezomib for injection, in July 2022. The injection, which is used for cancer treatment, is available in a single-dose vial with a 3.5 mg per 10 mL dosage, suitable for intravenous or subcutaneous administration.
What Are the Main Segments in the Generic Oncology Sterile Injectable Market?
The generic oncology sterile injectable market covered in this report is segmented -
1) By Product: Chemotherapy, Antimetabolites, Plant Alkaloids, Antitumor Antibiotics, Other Products
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Disease Indication: Ovarian Cancer, Breast Cancer, Lung Cancer, Pancreatic Cancer, Other Indications
Subsegments:
1) By Chemotherapy: Alkylating Agents, Antimetabolites, Mitotic Inhibitors, Topoisomerase Inhibitors
2) By Antimetabolites: Purine Analogs, Pyrimidine Analogs, Antifolates
3) By Plant Alkaloids: Vinca Alkaloids, Taxanes, Camptothecins
4) By Antitumor Antibiotics: Anthracyclines, Non-Anthracycline Antibiotics
5) By Other Products: Targeted Therapy Agents, Immunotherapy Agents, Supportive Care Products
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Which Top Companies are Driving Growth in the Generic Oncology Sterile Injectable Market?
Major companies operating in the generic oncology sterile injectable market include Pfizer Inc., Johnson & Johnson, Merck & Co Inc., Sanofi S.A., AstraZeneca plc, GlaxoSmithKline Plc, Eli Lilly and Company, Amgen Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Sandoz International GmbH, Fresenius Kabi AG, Sun Pharmaceutical Industries Inc., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Lupin Limited, Zydus Lifesciences Limited, Nichi-Iko Pharmaceutical Co. Ltd., Biocon Ltd., Jubilant Pharmova Ltd., Gland Pharma Limited, Apotex Inc., Accord Healthcare Ltd.
Which Regions Will Dominate the Generic Oncology Sterile Injectable Market Through 2029?
North America was the largest region in the generic oncology sterile injectable market in 2024. Asia-Pacific is expected to be the generic oncology sterile injectable market report during the fastest-growing region in the forecast period. The regions covered in the generic oncology sterile injectable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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