Generic oncology sterile injectables are used to treat cancer, as these help shrink the tumors. Generic oncology drugs are typically administered intravenously, which kill cells that multiply rapidly, a characteristic of most cancer cells. These drugs are highly effective against various types of cancer such as lymphoma, testicular, cervical, and pancreatic cancers. Most generic oncology sterile injectables are not purchased directly and are instead purchased through health care providers such as hospitals and in some cases from physicians.
Approximately, half the market is generic and the proportion of the market is expected to increase due to its low price. Whereas, as the life sciences firms have increased their focus to therapeutic segments like oncology. Moreover, there are various generic oncology sterile injectables based on conventional chemotherapy, as it is a backbone of cancer treatment. Furthermore, the generic oncology sterile injectables is focused on cytotoxics and advanced formulation. Generic oncology sterile injectables are also highly specialized class of product and are difficult to produce due to toxic characteristic, which also needs sterile environment and containment of the raw material and product during the development and production process.
Generic Oncology Sterile Injectable Market Taxonomy
By Drug Type
By Distribution Channel
By Disease Indication
Rise in prevalence of cancer is expected to fuel the growth of generic oncology sterile injectable market
According to Centers of Disease and Prevention Control (CDC) in 2016, 21.1 million cases of cancer were reported among adults in the U.S., which is expected to fuel growth of the market of generic oncology sterile injectable in near future. Whereas, 70% of U.S. hospital patients receive a generic injectable drug, which also drives market growth. Whereas, the U.S. Food and Drug Administration (FDA) also approves the generic drug which is bioequivalent to the brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use, which is expected to boost the generic oncology sterile market. Various patients are treated with safe, high-quality and effective generic oncology sterile injectables, as generic oncology sterile injectable can cost up to 90% less than branded drugs. Moreover, generic oncology sterile injectables is expected to contribute towards cost savings for cancer medications.
Regional growth engines of the generic oncology sterile injectable market
On the basis of regional segmentation, the generic oncology sterile injectable market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Due to increase in prevalence of cancer in the U.S., North America is expected to dominate the generic oncology sterile injectable market. According to W.H.O., cancer is one of the leading cause of morbidity and mortality worldwide, with approximately 14 million new cases in 2012. This is advertently fueling market growth. Furthermore, according to The Cancer Atlas, top 5 countries with highest estimated number of cancer cases were in Asia Pacific in 2012. This makes the region a major growth engine of the generic oncology sterile injectable market.
The key players dominating the generic oncology sterile injectable market
The key players operating in the generic oncology sterile injectable market include Eli Lily and Company, Biocon, Baxter International Inc., Hikma Pharmaceuticals PLC, Mylan N.V., Sandox Pvt Ltd, Uman Pharma, Inc., and Pfizer, Inc.
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