The Global Generic Sterile Injectables Market, by Drug Type (Monoclonal Antibodies, Cytokines, Insulin, Peptide Hormones, Vaccines, Immunoglobulins, Blood Factors, Peptide Antibiotics, and Others), by Therapeutic Application (Cancer, Diabetes, Cardiovascular Diseases, Central Nervous System, Infectious Disorders, Musculoskeletal, and Others) by Distribution Channel (Hospitals, Drug Stores, Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 51,230.2 million in 2017 and is projected to exhibit a CAGR of 10.2% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights.
Generic sterile injectable products exhibit similar efficacy and safety profile as compared to the branded drugs, they offer cost advantage and better accessibility for end users. Generic sterile injectables market is witnessing upward growth majorly owing to increasing prevalence of chronic disease such as cardiovascular disease, cancer, diabetes, arthritis, COPD, and asthma. According to the World Health Organization factsheet 2018, cancer is the second leading cause of death worldwide, and around 8.8 million deaths were reported due to cancer in 2015, nearly 1 in 6 deaths worldwide. Lung, liver, colorectal, stomach, and breast are leading cancer types across the world. Injectable drugs are most effective against cancer in the form of monoclonal antibodies, cytokines, and immunoglobulins. Furthermore, off patenting of the major blockbuster biologic injectable drugs is creating opportunity for development of new generic injectable products into the market, owing cost-effective advantage offered by generic products. For instance, leading branded drugs such as Remicade, Humira, Cancidas, Invanz, and Cubicin, which were used for various indication went off patent in 2017.
Browse 131 Market Data Tables and 49 Figures spread through 278 Pages and in-depth TOC on “Generic Sterile Injectables Market- by Drug Type (Monoclonal Antibodies, Cytokines, Insulin, Peptide Hormones, Vaccines, Immunoglobulins, Blood Factors, Peptide Antibiotics and Others), By Therapeutic Application (Cancer, Diabetes, Cardiovascular Diseases, Central Nervous System, Infectious Disorders, Musculoskeletal, and Others) by Distribution Channel (Hospitals, Drug Stores, Pharmacies, Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Global forecast to 2025”
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Key market players are undergoing strategic mergers, acquisitions, and collaborations in order to maintain leading position in global market and to tap the developing market. Baxter International completed acquisition of Claris injectable in 2017, which would expand footprint of Baxter in the global market and help company to leverage strength of Claris in developing market. Baxter International Inc. also entered into agreement with India-based Dorizoe Lifesciences in 2017, under which they would develop more than 20 generic injectable products to target infectious disease, oncology, and cardiovascular disease. This deal would combine manufacturing and distribution leadership of Baxter with research expertise of Dorizoe Lifescience. In September, 2017, Fresenius Kabi acquired the biosimilar business of Germany-based Merck KGgA. In 2015, Pfizer, Inc. acquired Hospira, Inc. which is one of biggest players in generic injectable market.
Companies are also filing biosimilar application for branded drugs in order to attain growth in market. For instance, Fresenius Kabi in December 2017, submitted Marketing Authorization Application to European Medicines Agency (EMA) for MSB11022, which is a biosimilar candidate of Humira (adalimumab). Company also opened new production facility for injectable in Indonesia in 2017.
Key Takeaways of the Generic Sterile Injectables Market:
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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