Generic Injectables Market is expected to reach US$ 90.2 Bn by 2023
Posted by Shristi on November 11th, 2019
“The Global Generic Injectables Market is expected to reach US$ 90.2 Bn by 2023 owing to growth in R&D for the development of newer products”.
The global generic injectables market is expected to reach US$ 90.2 Mn by 2023. Generic Injectables are the biologics that have same active ingredients as the branded drugs; however the inactive contents of the drugs can be varied. Generic Injectables are gaining traction over the forecast period owing to their cost effectiveness and same efficacy as the branded drugs. Growing pressure on the drug prices by the various governments is forcing hospitals to prescribe generic injectables. Furthermore, supply continuity challenges are also driving the growth of generic injectables market. Moreover, increase in research and development for making the complex molecule suitable for injectable dosage forms, technological advancements, and increase in adoption of biosimilar products are also surging the growth of global generic injectables market.
Avail Sample Report of the Market @ https://www.precisionbusinessinsights.com/request-sample?product_id=37773
On the flip side, due to complexity of the development procedure, requirement for high initial investment for injectable manufacturing plant, and strict regulatory procedures regarding the injectables are attracting very few market players.
Global Generic Injectables market is segmented on the molecule type, drug type, and indication, route of administration, manufacturing type, distribution channel, presentation type, and end user.
Large Molecules Dominate the Global Generic Injectables Market
Based the molecule type the global generic injectables market is segmented into large molecule & small molecule. The large molecule injectables segment is anticipated to dominate the global generic injectables market owing rise in incidence of cancer, patent expiry of blockbuster molecules, and rapidly increasing new product launches. For instance, Pfizer, Inc., has signed an agreement with Biocon for the development of insulin biosimilars.
Asia Pacific Leads the Global Generic Injectables Market
PBI’s global generic injectables market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia Pacific dominated the global generic injectables market through 2014-2018 and expected to dominate over 2019-2023 owing to increasing prevalence of several diseases such as cancer, diabetes, cardiovascular diseases, and musculoskeletal diseases etc. and higher consumption of generic drugs over the branded drugs sue to the cost effectiveness of the generic drugs. After Asia Pacific, North America seems to dominate the global generic injectables market loss of patients of blockbuster drugs and due to approval of Abbreviated New Drug Application (ANDA) drugs. Europe generic injectable market is also growing at a considerable rate due to their government initiatives to reduce the health care cost by supporting generic medicines.
Launch of newer products, and strategic alliances are the key strategies adopted by market players
Global Generic Injectables market further reveals that the key player’s increasingly adopting strategies such as launch of newer products, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
For instance, in 2015, Merck announced that the European Commission (EC) approved KEYTRUDA (pembrolizumab), for the treatment of advanced (unresectable or metastatic) melanoma in adults.
In December 2017, Novartis had more than 200 projects in its clinical pipeline and over 500 clinical trials in progress and it invested US$ 8,319 Mn for its research and development activities.
Furthermore, in February 2018, Novartis acquired Advanced Accelerator Applications S.A. (AAA), a publicly listed radiopharmaceutical company that develops, manufactures and commercializes molecular nuclear medicines including Lutathera, a first-in-class radioligand therapy for neuroendocrine tumors.
For More Information @ https://www.precisionbusinessinsights.com/market-reports/generic-injectables-market/
Key player’s profiles in the report are Novartis, AbbVie Inc., Amgen, Inc., AstraZeneca Plc, Baxter International Inc. (Baxter), Gilead Sciences, Inc., GlaxoSmithKline plc., Johnson & Johnson, Merck & Co., Inc., Novo Nordisk, Pfizer Inc, F. Hoffmann-La Roche Ltd, and Sanofi SA.
Precision Business Insights (PBI) in its report titled “Global Generic Injectables Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2023” assesses the market performance over seven years forecast period over 2019-2023. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
By Molecule Type
By Drug Type
By Route of Administration
By Manufacturing Type
By Distribution Channel
By Presentation Type
By End User
Middle East and Africa (MEA)
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About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
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