Currently at a nascent stage, the global generic injectable market is projected to witness exponential growth in sales at around 12% CAGR during 2019 – 2029. Over the course of forecast period, generic injectable sales will experience 3X growth, as indicated by a new Future Market Insights (FMI) study. Increasing patient preference for self-administration of drugs is primarily developing a fertile ground for the generic injectable market, says the report.
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“The generic pharmaceuticals sector is gaining a boost from frequent FDA approvals. Launch of low-cost injectables through investments in consolidations and mergers has been a major highlight,” states the FMI report.
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Key Takeaways: Generic Injectable Market
- Demand for monoclonal antibodies (mAbs) would remain significant; vaccines are gaining traction.
- Generic injectable market continues to see emergence of high-value opportunities in North America and Europe.
- Asian markets would capture investors’ attention, owing to solid growth in pharma production capacities and technology penetration.
- High preference for small molecule drugs will prevail
- Generic injectables continue to witness significant adoption in pain management.
- Large molecule injectables are set to outperform their small counterparts by 2022.
Key Market Growth Drivers
- Expansion of orphan drug and parenteral products spaces remains a strong factor driving generic injectable sales.
- Increasing preference for cost-efficient biologics such as mAbs and vaccines over drugs is in favor of market growth.
- Reduced development time and increasing manufacturers’ investments in consolidation are bolstering demand for generic injectables.
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- Hefty operational costs will remain the key constraint facing generic injectable manufacturers.
- Tightening competition from low-cost manufacturers continues to challenge large-scale players in generic injectable market.
A recent market study published by Future Market Insights (FMI) on the market offers global industry analysis for 2016-2020 & opportunity assessment for 2021-2031. The report consists of a comprehensive assessment of the most important market dynamics. On conducting thorough research on the historical as well as current growth parameters of the generic injectable market, growth prospects of the market are obtained with maximum precision. The report features unique and salient factors that may make a huge impact on the development of the generic injectable market during the forecast period. It can help market players modify their manufacturing and marketing strategies to envisage maximum growth in the generic injectable market in the coming years. The report provides detailed information about the current and future growth prospects of the generic injectable market in the most comprehensive way for better understanding of readers.
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In this chapter, readers can find a comprehensive list of all the leading stakeholders in the Generic Injectable market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Players featured in the Generic Injectable market report include Pfizer, Novartis, Baxter International, Sun Pharma, Teva Pharmaceuticals, Mylan, Merck, Fresenius Kabi, Astra Zeneca, Cipla, Aurbindo Pharma, Sumsung Biological, Dr Reddy’s laboratory, Sanofi.