Generic Injectables Market Size to Hit USD 309.1 Billion by 2030
September 23, 2022
According to Precedence Research, the global generic injectable market size is predicted to hit around USD 309.1 billion by 2030 and expanding growth at a notable CAGR of 14.1% during the forecast period 2022 to 2030.
/EIN News/ -- Ottawa, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The global generic injectable market size was valued at USD 94.3 billion in 2021. The rapid acceptance of the generic injectables from the health care centre due to increased demands and the requirements due increasing prevalence of the chronic infectious disease across the regions drives the market growth with increased therapeutic index, with increased quality, strength, efficacy of the drug, dosage and route of administration similar to that of the patent branded drugs available in the market increased shortage of the new developments from the branded pharmaceutical led to increase the market rate of the generic injectables.
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Increased research and development from the pharmaceutical companies for manufacturing and producing new generic injectables with increased efficacy with reduced adverse drug reactions with increased patient output contributes to expand the market of generic injectables with increased applications for various diseases with improved rout of administration and the containers utilized for the generic injectables. Increased government interest in developing the generic injectables with increased investment from the market enhanced the market growth to a larger extend.
- The large molecule type segment accounted 69% market share in 2021.
- The small molecule segment has hit 31% revenue share in 2021.
- North America region has contributed 46% market share in 2021.
- By product type, monoclonal antibodies with increased market growth in the generic injectables.
- By molecule type, large molecule with increased market share for increasing the generic injectable production and manufacturing.
- By distribution channel, the hospitals with their own pharmacy such as hospital pharmacy with increased market rate of hospital pharmacy in the generic injectables.
Generic injectables based on the geographical sector. North America to be largest region with increased market revenue share with increased demands from the market from health care centre with new developments and increased research from the market players enhanced the market growth of the generic injectables with high number of chronic infectious diseases spreading among the people with increased population across the nation which led to increased production and manufacturing of the generic injectables.
Asia Pacific region also contribute for increasing the market of the generic injectables due to low cost of the generic injectables enhanced the market growth with increased features and effectivity of the drug. Other regions such as Europe, Middle East and Africa, Latin America supports to enhance the market growth of the generic injectables with increased developments and demand from the market.
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Scope of the Report
|Market Size in 2021||USD 94.3 Billion|
|Revenue Forecast by 2030||USD 309.1 Billion|
|North America Market Share||46% in 2021|
|CAGR||14.1% from 2022 to 2030|
|Forecast Year||2022 to 2030|
|Key Players||DR. Reddys Laboratries Ltd, Baxter International, Teva Pharmaceuticals, Astra Zeneca Plc, Mylan N.A, Fresenius Kabi, Pfizer Inc, Cipla Ltd, Merck & Co. Inc, Sanofi S.A, Sun Pharmaceutical Industries Ltd, Aurobindo Pharma Limited, Samsung Biologics Co Ltd, Novartis AG, Biocon, Lupin,Ltd, Astrazeneca, AND Others.|
The advanced developed drugs developed across the regions with various developments and innovations with increased efficiency of the generic injectable with increased quality, efficacy, route of administration, reduced adverse drug reactions thrives the market growth of the generic injectables to a greater extend with increased demand from the health care center due increased chronic diseases enlarge the generic injectable market. Faster approval of the generic as compared to that of the patent drug comes with the expiry of the patent. Therefore, reduced introduction of the new branded injectable drugs. Which led to increase demand from the market due to increased shortage of the injectables required with increased production and manufacturing of the generic injectables.
Cost effectivity is the major factor that drives the market with increased affordability of the generic drug for the common people with increased diseases among the people due to enhanced population and different diet intake affects the system of the human body with increasing chronic diseases led to demand for the generic injectable with increased hospitalization rate of the patients. Increased continuous research and development with new introduction of the generic injectables with increased investment from the key market players in pharmaceutical industry fuels the market growth of the generic injectables with increased market revenue.
Lack of awareness among the people regarding the generic injectables drugs available in the with increased cost effectivity may hamper the market growth of generic injectables. Increased cost during the production of the generic injectables with high cost of the equipments required during the manufacturing of the generic injectable drugs. Lack of interest for investing the funds for increasing the market of generic injectables and producing and manufacturing of the generic injectable may reduce the market growth.
Increased availability of the numerous options available other than generic drug with same content, equal efficacy of the drug, safety, quality could affect the market rate to grow high with increased generic injectables market share.
The rapid acceptance of the generic injectables due to increased availability of the generic injectables with enhanced research and development with new variations such as increased efficacy of the injectables, reduced side effect, increased safety of the injectables increased the market rate of the generic injectables, Increased chronic diseases such oncology to be leading disease with increased generic injectables requirement from the health care centre with increased number of chemotherapies. Increased wide applications of generic injectables in various diseases for controlling and management of the disease. The increased number of market players for developing the generic injectables with increased production and new developments of the drugs enhanced the market rate during the forecast period.
The increased cost for developing the generic injectables with increased cost during the production of the generic injectables with high cost of the equipments may decline the market growth of the generic injectables challenge the market to grow high. Increased cleanliness procedures during manufacturing of the generic injectables with increased sterilization process during production of the generic injectable drug with increased cost of the sterilization process to prevent from microbial attack and free from contamination of the generic injectable. Lack of skill among the individuals for production of the generic injectables with increase in development may hault the market growth of the generic injectables. Increased availability of other drugs can challenge the generic injectables market to grow during the forecast period.
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- Cosette Pharmaceuticals Inc, introduced Prochlorperazine Edisylate drug infused similar to other drug such as Compazine injection of 10mg/2ml. IT is used in managing the queasiness and controlling the schizoprenia.
- Johnson & Johnsons and Midatech Pharma collaborated with each other in March 2022. Developing and increased focus for improving drug delivery technology with developments and increased research in biodistribution.
By Product Type
- Chemotherapy agents
- Small molecule antibiotics
- Peptide antibiotics
- Blood factors
- Peptide hormone
- Monoclonal Antibodies
By Molecular Type
- Small Molecule
- Large Molecule
- Infectious Diseases
- Blood Disorders
- Musculoskeletal Disorders
- Hormonal Disorders
- Pain Management
- CNS Diseases
- Cardiovascular Diseases
- Intravenous (IV)
- Intramuscular (IM)
- Subcutaneous (SC)
By Distribution Channel
- Hospital pharmacy
- Retail pharmacy
- Drug stores
- Online pharmacy
- North America
- Latin America
- Middle East & Africa (MEA)
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