According to Fact MR’s current market study, generic injectables sales will grow at an accelerated CAGR through 2031, as expenditure in healthcare infrastructure construction continues to rise. The survey’s purpose is to identify growth possibilities, important trends, growth drivers, and difficulties. It also makes advice to help organisations prepare for unexpected obstacles. The emphasis on improving overall patient care will continue to be a key growth driver. Furthermore, the Generic Injectables market will benefit from patients’ and families’ increased willingness to pay on sophisticated healthcare. The report gives sales predictions for over 20 countries to provide an in-depth overview. It also reveals the segments with the highest growth rates.
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Key Takeaways of Global Generic Injectables Market Study:
- Large-molecule injectables are expected to grab a sizable market share, accounting for one-fifth of the global generic injectables market. Growing research and development in biosimilar drugs, as well as the expected patent expiration of blockbuster molecules, are expected to increase market share.
- The prefilled syringes container category is expected to grow rapidly, with a CAGR of 14.1% throughout the projected period. This segment’s primary growth drivers are dose precision and convenience of administration.
Oncology doctors are expected to find generic injectables most useful. The growing number of cancer patients has increased the demand for generic formulae to be used in the development of inexpensive and high-quality medications. - The segment is expected to account for roughly 30% of the generic injectables market overall.Most of the generic drug administration is projected to take place via intravenous methods. Rapid and predictable delivery of drugs and avoidance of first-pass metabolism are key factors anticipated to leverage the intravenous administration segment.
- Asia-Pacific is expected to take the lead in the global generic injectables market. Accelerated demand for injectable antibiotics to treat diseases such as diarrhoea, typhoid, malaria, and cholera, as well as rising cancer prevalence, are expected to boost the region’s growth. Asia-Pacific is expected to grow at a whopping 16.1% CAGR.
- North America is becoming more profitable as a result of an increase in the number of abbreviated new drug application (ANDA) approvals, rising demand for low-cost biosimilar pharmaceuticals, and rising prevalence of lifestyle disorders. During the projection period, the region is expected to grow at a CAGR of 11.4%.
- Significant supply-chain disruptions may impede the global generic injectables market’s growth prospects throughout the forecast period. The COVID-19 epidemic has resulted in a virtually full global lockdown, hampering economic transactions and the movement of crucial commodities worldwide. Due to limited transportation options, there is a substantial imbalance between the demand and supply of important pharmaceuticals.
- Analysts predict that the market will soon see an increase in pricing in the short future. This is because customers will eventually be willing to pay a greater price for the pharmaceuticals they consume because they are a necessity for them.
Developing Pipeline Drugs to Remain Forte of Market Players
- AstraZeneca
- Baxter International Inc.
- Biocon
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals PLC
- Johnson and Johnson Services, Inc.
- Lupin; Merck & Co., Inc.
- Viatris Inc.
- Pfizer Inc.
More Valuable Insights on Generic Injectables Market
In its latest study, Fact.MR provides an independent Market Analysis of Generic Injectables, Sales and Demand of Generic Injectables, and Forecast Statistics for 2019 and Beyond. The report provides growth estimates based on a variety of criteria.
