According to the latest report by IMARC Group, titled, “Generic Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global generic injectables market reached a value of US$ 40.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 65.4 Billion by 2027, exhibiting at a CAGR of 8.6% during 2022-2027. Generic injectables refer to drugs with the same active pharmaceutical ingredient as their branded counterparts. They are equivalent in dosage form, performance, intended use, strength, safety, quality, and route of administration. They are used to administer the medication rapidly into the body and are as safe and effective as the innovator drug. Additionally, they facilitate the easy absorption of medicines in liquid form, which further declines the frequency of dosage administration without affecting the treatment’s efficacy. Besides this, they are cost-effective since they do not require investment in research and development (R&D), testing, and promotional activities compared to branded injectable drugs.
The growing prevalence of chronic illnesses primarily drives the generic injectables market. This is supported by the increasing incidences of chronic medical ailments, such as diabetes, osteoarthritis, rheumatoid arthritis, cancer, and cardiovascular, neurological, and respiratory disorders. Along with this, the rising occurrence of lifestyle disorders as a result of changing dietary patterns, hectic schedules, and sedentary lifestyles of individuals is significantly supporting the market. At present, government and monetary specialists are setting new projects as well as financial plans for nonexclusive injectables engineers to improve their business discernment. This acts as one of the major growth-inducing factors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Apart from this, the increasing preference for generic injectable products over their counterparts is due to their advantages, such as improved availability of biologic drugs in development pipelines, faster approvals, and a higher preference for injectable drug delivery is positively influencing the market growth. Additionally, the cost-effectiveness and better patient outcomes accelerating the sales of generic injectables, including monoclonal antibodies, immunoglobulins, antibodies, vaccines, and peptides, is propelling the market growth. Moreover, the emerging trend of online shopping offers consumers a wide range of products, is creating a positive market outlook. Other factors driving the market further include the growing geriatric population and rising health awareness among the masses.
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Global Generic Injectables Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Hospira (Pfizer)
- Fresenius Kabi
- Sandoz (Novartis)
Also, Read Full Blog: Top Generic Injectables Companies Worldwide
Breakup by Therapeutic Area:
- Parenteral Nutrition
Breakup by Container:
- Prefilled Syringes
Breakup by Distribution Channel:
- Retail Pharmacy
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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