NEWARK, Del, March 14, 2023 (GLOBE NEWSWIRE) -- The global generic injectable market is predicted to register a robust CAGR of 11.6% over the forecast period, as per FMI’s analysis. The industry’s size is anticipated to increase from US$ 1,07,419.72 million in 2023 to US$ 3,22,433.1 million by 2033 end.
The rising geriatric population, along with the prevalence of chronic diseases, is projected to have a favorable impact on the growth of the generic injectable industry. The research and development cycles of generic drugs are less than their bio-equivalents of branded counterparts. This offers time efficiency to the manufacturers and helps bolster the demand for generic injectables. Additionally, the low-cost related to the manufacturing of generic injectables are also luring new companies to enter the market arena and drive market growth.
The development of generic injectables is further being augmented by the rising adoption of advanced technologies, increasing population, and the execution of favorable government regulations. Significant upfront investments to augment the manufacturing process is anticipated to enhance the generic injectable industry. Moreover, key players in the market are focusing on extending their footprint in emerging economies like China and India, which are expected to have a positive influence over the market in the years to come.
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Top Highlights from the FMI’s Analysis of the Generic Injectable Market:
- The United States is projected to stand at the pinnacle of generic injectable market growth over the upcoming years. The United States is expected to attain US$ 87,936.2 million by 2033, registering a CAGR of 11.2% in the meanwhile.
- China market is slated to be second in line, attaining US$ 36,419.2 million by 2033. The market is anticipated to exhibit a 14.5% CAGR over the next 10 years.
- In the North America market, Canada is expected to reach US$ 4,480 million by 2033. Over the forecast period, the market is projected to assume a CAGR of 7.2%.
- In the Europe region, Germany is anticipated to acquire a significant regional market share. Germany market is estimated to obtain US$ 24,393.1 million by 2033. From 2023 to 2033, the market is projected to expand at 13.4% CAGR.
- The United Kingdom market is projected to attain a market valuation of US$ 18,035.5 million by 2033. Over the forecast period, the market is assessed to register a CAGR of 11.1%.
- On the basis of molecule, the large molecule segment is projected to observe significant growth. Over the upcoming years, the market is perceived to expand at 13.2% CAGR, up from the 12.6% CAGR observed in the historical period.
- Based on application, infectious diseases are projected to witness significant traction in the years to come. The segment is projected to expand at a CAGR of 10.8% in the forecast period.
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Key Developments Stirring Up the Marketplace
- In October 2022, Alembic Pharmaceuticals received concluding approval from the United States health regulatory body. The approval has been given for its generic version of Paclitaxel injection which is used in the treatment of various types of cancer. The company stated in its regulatory filing that this is the first product consent provided for oncology injection.
- In February 2020, Samsung Biologics declared that it is going to expand its manufacturing, after clocking a 64.6% growth in operating profits and 30.9% growth in sales.
Some Leading Companies Operating in the Market are
- Samsung Biologics Co Ltd
- Aurobindo Pharma Limited
- Sun Pharmaceutical Industries Ltd.
- Novartis AG
- Merck & Co. Inc.
- Cipla Ltd
- Pfizer Inc
- Fresenius Kabi
- Sanofi S.A
- AstraZeneca Plc
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Generic Injectable Market by Category
By Product type:
- Monoclonal Antibodies
- Immunoglobulin
- Cytokines
- Insulin
- Peptide Hormones
- Blood Factors
- Peptide Antibiotics
- Vaccines
- Small Molecule Antibiotics
- Chemotherapy Agents
- Others
By Molecule Type:
- Small Molecule
- Large Molecule
- By Application:
- Oncology
- Infectious Diseases
- Diabetes
- Blood Disorders
- Hormonal Disorders
- Musculoskeletal Disorders
- CNS Diseases
- Pain Management
- Cardiovascular Diseases
By Route of Administration:
- Intravenous (IV)
- Intramuscular (IM)
- Subcutaneous (SC)
By Distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
Table of Content
1. Executive Summary | Generic Injectable Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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