Generic Injectables Market Estimated to Exceed US$ 49.8 Billion Globally By 2024: IMARC Group

Global Generic Injectables Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Global Generic Injectables Market Overview: Generic injectables refer to medication which yields the same therapeutic effect as their innovator drugs since they have the similar active ingredients, strength, quality, performance, intended use and dosage. Owing to their low cost, generic injectables have gained popularity in the healthcare sector, moreover, the number of competitors in the generic injectables market is lower in comparison to oral generics which has resulted in higher profit margins and limited price erosion. A new research report by IMARC Group, titled “Generic Injectables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, estimated that the market was worth US$ 28.9 Billion in 2018.

The report further, anticipates the market to reach US$ 49.8 Billion by 2024, growing at a CAGR of 9.4% over the forecast period.

Generic Injectables Market Drivers/Constraints: •

The number advantages of generic injectables, including low cost, short approval time and low capital investment compared to brand name injectables are catalyzing the generic injectables market across the globe.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

•

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

In Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Some of the other factors fuelling the growth of the market are the growing geriatric population, patent expiry of a number of drugs, rising prevalence of chronic diseases and an increase in drug shortages.

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The governments of various countries are supporting the manufacturing of generic injectables as these drugs help to reduce the healthcare costs. This has given an impetus to the market growth.

The negative perception of the consumers towards generic drugs coupled with stringent regulations laid down by the governments are some of the challenges faced by the global generic injectables market.

For more information, click here: https://www.imarcgroup.com/generic-injectables-market Key Market Segmentation: Market Segmentation by Therapeutic Area • • • • •

Oncology Anaesthesia Anti-infectives Parenteral Nutrition Cardiovascular

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On the basis of therapeutic area, oncology accounts for the majority of the market share. The rising concerns over cancer coupled with oncology drugs going off-patent is projected to fuel the growth of this segment. Other major therapeutic areas include anaesthesia, cardiovascular, anti-infectives and parenteral nutrition.

Market Segmentation by Distribution Channel • •

Hospitals Retail Pharmacy

Based on distribution channel, the market has been segmented into hospitals and retail pharmacy stores. Amongst these, hospitals represent the leading segment as generic injectables cannot be administered or traded without medical assistance or permission from a certified practitioner.

Market Segmentation by Region • • •

Asia Pacific Europe North America

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Middle East and Africa Latin America

On a geographical front, the market has been segregated into Asia, North America, Europe, Latin America, & Middle East and Africa. Currently, North America represents the leading market on account of an increase in chronic diseases due to sedentary lifestyle and poor eating habits of the population.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • •

Hospira (Pfizer Inc.) Fresenius Kabi Ag Hikma Pharmaceuticals PLC Sandoz (Novartis) Sagent Pharmaceuticals, Inc. (Nichi-Iko Pharmaceutical Co. Ltd.) Sanofi

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Generic Drug Market Report: https://www.imarcgroup.com/generic-drug-manufacturing-plant Generic Pharmaceutical Market Report: https://www.imarcgroup.com/prefeasibility-report-generic-pharmaceutical-manufacturing-plant

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