SEATTLE, May 26, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, global generic sterile injectables market is estimated to be valued at US$ 38,706.5 million in 2022 and is expected to exhibit a CAGR of 10.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Generic Sterile Injectables Market:
Key trends in the market include increasing product approvals, increasing product launches, increasing prevalence of chronic diseases, increasing agreements, and expansion of manufacturing activities etc.
Market players are focused on receiving approvals from the regulatory authorities, which is expected to drive growth of the global sterile injectables market over the forecast period. For instance, in July 2021, Sandoz, subsidiary of Novartis AG, announced the U.S. availability of generic Ferumoxytol, for the indication of iron deficiency anemia (IDA). Ferumoxytol, a generic equivalent to AMAG Pharmaceuticals’ Feraheme (ferumoxytol injection) is approved to treat IDA in adult patients who have an intolerance to oral iron or have had an unsatisfactory response to oral iron, or who have chronic kidney disease.
Key players are engaged in launching new products for generic injectables, which is expected to drive growth of the global sterile injectables market over the forecast period. For instance, in December 2020, Novartis AG announced that the European Commission (EC) approved Xolair (omalizumab) as an add-on therapy with intranasal corticosteroids (INC) for the treatment of adults (18 years and above) with severe chronic rhinosinusitis with nasal polyps (CRSwNP), where therapy only with INC does not provide adequate disease control.
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The company is engaged in expanding its manufacturing facilities and suppliers, in order to strengthen its market presence. For instance, in 2019, Teva Pharmaceuticals Industries Ltd. announced plans to diversify its business by expanding its manufacturing and production sites, which is expected to strengthen the position of the company in the global market. Teva Pharmaceuticals Industries Ltd. is planning to expand its business in Russia and China strengthen its global presence. Upon expansion of its business, the company would focus on increasing the manufacturing and supply of generics in these regions.
Generic Sterile Injectables Market Report Coverage
| Report Attributes | Details |
| Market Size in 2022 | $38,706.5 Million |
| Market Size Projection in 2030 | $84,856.8 Million |
| CAGR (2022-2030) | 10.3 % |
| Largest Market | North America |
| Growth Drivers |
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| Segmentation |
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| Regional Analysis |
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| Key Companies Covered | Baxter International Inc., AstraZeneca plc, Merck & Co., Inc., Pfizer Inc., Fresenius Kabi, Novartis International AG, Teva Pharmaceuticals, Hikma Pharmaceuticals, Dr. Reddy’s Laboratory, Mylan N.V., Sun Pharmaceutical Industries Ltd. |
Key Market Takeaways:
Key players are indulged in signing new agreements for the increasing production of generic sterile injectables, this is expected to drive growth of the global generic sterile injectables market, over the forecast period. For instance, in July 2019, Mylan N.V. and Pfizer Inc., an American pharmaceutical and biotechnology company, announced a definitive agreement to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company.
Among regions, North America is expected to hold a dominant position in the global generic sterile injectables market over the forecast period, owing to increasing incidence of chronic diseases such as stroke in the region. For instance, according to the statistics provided by the World Health Organization in 2018, over 795,000 people have stroke each year in the U.S. This is expected to create opportunities for generic sterile injectables market as a therapeutic tool for treatment of chronic conditions such as stroke, cancer, diabetes, etc.
Competitive Landscape:
Key players operating in the global generic sterile injectables market include Baxter International Inc., AstraZeneca plc, Merck & Co., Inc., Pfizer Inc., Fresenius Kabi, Novartis International AG, Teva Pharmaceuticals, Hikma Pharmaceuticals, Dr. Reddy’s Laboratory, Mylan N.V., Sun Pharmaceutical Industries Ltd.
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Market Segmentation:
- Global Generic Sterile Injectables Market, By Drug Type:
- Monoclonal Antibodies
- Cytokines
- Insulin
- Peptide Hormones
- Vaccines
- Immunoglobulins
- Blood Factors
- Antibiotics
- Others
- Global Generic Sterile Injectables Market, By Therapeutic Application:
- Cancer
- Metabolic Diseases
- Cardiovascular Diseases
- Central Nervous System Disease
- Infectious Disorders
- Musculoskeletal Disorders
- Others
- Global Generic Sterile Injectables Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Generic Sterile Injectables Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
Related Market Intelligence Reports:
U.S. Sterile Injectables Market, by Molecule Type (Large Molecule and Small Molecule), by Drug Type (Monoclonal Antibody (mAbs), Cytokines, Insulin, Peptide Hormones, Vaccines, Immunoglobulin’s, Blood Factors, Peptide Antibiotics, and Others), by Therapeutic Application (Cancer, Metabolic Diseases, Cardiovascular Diseases, Central Nervous System Disorder, Infectious Diseases, Musculoskeletal Disorders, and Others), by Route of Administration (Subcutaneous (SC), Intravenous (IV), Intramuscular (IM), and Others), and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Asia Pacific Generic Oncology Sterile Injectable Market, by Drug Type (Monoclonal Antibodies, Chemotherapy (Alkylating Agents, Antimetabolites, Plant Alkaloids, Antitumor Antibiotics, and Others), Cytokines, and Peptide Hormones), by Disease Indication (Ovarian Cancer, Breast Cancer, Lung Cancer, Pancreatic Cancer, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Country (China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
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