Generic Oncology Sterile Injectables Market
Generic oncology sterile injectables are used for the treatment of various types of cancers such as ovarian, breast, and lung. Generic oncology sterile injectables products are relatively cheaper than branded counterparts. Treatment cost is a major concern for cancer patients, especially in emerging economies such as India, Brazil, and China. Therefore, governments of such countries are taking efforts to reduce cost of medications and increase its accessibility. For instance, the National Pharmaceutical Pricing Authority (NPPA) of India reduced the prices of few cancer products by 86% in March 2017.
Generic oncology sterile injectables have a huge potential in such countries, where patient population is high; however, spending power is relatively low. Furthermore, patent expiry of product is expected to fuel growth of the generic oncology sterile injectables market during the forecast period. The emergence of biosimilars have also impacted the growth of generics oncology sterile products. For instance, according to the Journal of Generics and Biosimilars Initiative, 2017, biosimilars have a major share in Europe and in the U.S. since 2013 and 2015, respectively, and the share of biosimilars is expected to increase significantly in the biologicals market. This is expected to eventually boost growth of the generic oncology sterile injectable market.
Market Dynamics
Generic oncology sterile injectables market is gaining significant traction due to rising prevalence of cancer cases. For instance, according to the World Health Organization, in 2018, around 18.1 Mn new cases of cancer and 9.6 Mn deaths were reported, globally.
However, lack of awareness amongst the people in low-income and middle-income countries regarding cervical cancer is expected to hinder growth of the generic oncology sterile injectables market during the forecast period. Cervical cancer is one of the most common cancers among women of reproductive age in low-income and middle-income countries. For instance, according to The International Agency for Research on Cancer’s (IARC) report of 2013, cervical cancer is mostly prevalent in low-income countries of sub-Saharan Africa.
Key features of the study
Market Segmentation
Table of Contents
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