In recent years, demand for generic drugs has seen a prolific rise. High developmental and investment costs associated with branded formulations has prompted key players to invest in alternative formulae which are more affordable and accessible to people, especially in the developing world.
On the back of abovementioned factors, the global generic injectables market is projected to witness an impressive growth during the forecast period (2020-2025). Projected CAGR for the global generic injectables market is pegged at 13.3%, to reach a value pool of US$ 1.5 Bn by the end of 2025.
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However, significant challenges for growth exist for the global generic injectables market. Supply-chain disruptions occurring due to limited availability of air and water transport is a major restraint. This is anticipated to create shortages of critical drugs, particularly in the United States.
Key Takeaways of Global Generic Injectables Market Study:
- Large-molecule injectables are projected to capture an impressive market share, tantamount to 3/5th of the overall generic injectables market. Burgeoning research and development in biosimilar products and anticipated patent expiry of blockbuster molecules are projected to leverage market share.
- By container, the prefilled syringes segment shall witness rapid expansion, registering an impressive CAGR of 14.1% during the forecast period. Dose accuracy and ease of administration are key growth drivers of this segment.
- Oncology specialists are anticipated to find maximum applicability of generic injectables. Rising number of cancer patients has augmented the need to use generic formulae to develop affordable and quality drugs. The segment is projected to account for around 30% of the overall generic injectables market.
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Global Generic Injectables: Market Segmentation
Fact.MR has studied the global generic injectables market with detailed segmentation on the basis of product type, container type, application and key regions.
|Large Molecule Injectables:
|Small Molecule Injectables
|Middle East & Africa (MEA)
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Developing Pipeline Drugs to Remain Forte of Market Players
The global generic injectables market include, but are not limited to, players such as Pfizer, Inc., Novartis AG (Sandoz International GmbH), Baxter, Fresenius SE & Co., KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC., Lupin Ltd., Sanofi and Biocon.
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