The global generic injectable industry share is anticipated to reach US$ 3,22,433.1 million in value by 2033, expanding at a CAGR of 11.6% from 2023 to 2033. In 2023, it is projected that the market will be worth US$ 1,07,419.72 million.
The global market for generic injectables is anticipated to reach US$ 85 billion in 2021, according to FMI. The market is expanding as a result of the rising demand for generic Injectable in fields including pain treatment, cardiovascular illness, oncology, and blood-related disorders. As a result, the market is anticipated to grow at a strong 11% CAGR between 2021 and 2031.
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Rise in prevalence of lifestyle disorders such as obesity, diabetes, and others are resulting in surging demand for the management of such conditions. According to the World Health Organization (WHO), around 422 million people across the world are reported to have diabetes 2021. As generic injectables such as insulin injections offer immediate solutions for such ailments, growing burden of lifestyle diseases will create lucrative opportunities for growth of the market.
Rising popularity of intramuscular (IM) and intravenous (IV) routes of drug administration owing to better patient outcomes also will remain a chief growth driver. In addition to this, increasing demand for immediate and cost-effective treatment of various ailments such as infectious diseases, hormonal disorders, and musculoskeletal ailments among others is anticipated to propel the demand for generic injectable in the coming years.
Among the product types, the monoclonal antibodies segment is projected to hold the largest revenue share in the market, accounting for around 44% of the sales between 2021 and 2031. Increasing adoption of these generic injectables for immunity boosting during the treatment of various chronic diseases is a primary factor favoring the growth in the market.
“Increasing research and development (R&D) activities for improving the effectiveness of biologic drugs for the treatment of chronic diseases and rising patient inclination towards injectable drug delivery solutions are expected to augment the growth in the market,” says a FMI analyst.
Key Takeaways from Generic Injectable Market Study:
- The U.S. is estimated to emerge as a highly attractive market, accounting for more than 29% of the overall sales during the assessment period.
- France is projected to hold a significant share in the Europe market, exhibiting sales growth at 12% year-over-year growth in 2021.
- The sales in the U.K. are anticipated to rise at 11% year-on-year, owing to the increasing prevalence of lifestyle diseases such as diabetes in the country.
- On the basis of molecule type, the large molecule type segment is forecast to dominate the market, accounting for nearly 57% of the value share through 2031.
- In terms of application, the diabetes segment is projected to register the fastest growth in the segment, expanding at a massive CAGR of 12% over the forecast period.
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Key Drivers:
- Increasing prevalence of chronic diseases such as cancer in countries such as the U.S., China, India, Germany, Japan, and others is propelling the demand for generic injectable in the chemotherapy agent segment.
- Rising adoption of intravenous injections by doctors owing to their ease of operations, lower cost, and better results on the treatment of number of life treating diseases and associated therapeutics are increasing the sales across in the intravenous segment.
Key Restraints:
- Need for complex equipment, appropriate certification, and sterilization standards for manufacturing generic injectables is hampering the growth in the market.
- Stringent regulatory approvals policies and mandates of maintaining high degrees of care while manufacturing, packaging, storage, and distribution are restricting the growth of the market.
Competitive Landscape:
Leading players in the global generic injectable market are focusing on strengthening their market footprint by adopting strategies such as partnership, strategic collaboration, merger, and acquisition with various other organization. For instance,
- In January 2020, Merck, an American multinational pharmaceutical company, announced entering into a strategic collaboration with a Japanese pharmaceutical company, Taiho Pharmaceutical Co, Ltd, to emphasize on the development of small molecule injection inhibitors in cancer research for oncology platform.
- In March 2021, a leading pharmaceutical company, Pfizer Inc. and Eli Lilly and Company, an American pharmaceutical company, announced receiving an U.S. Food and Drug Administration (FDA) approved for their new product tanezumab, for treating osteoartities pain.
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Some Of The Key Players Operating In The Market Profiled By FMI Are:
- Samsung Biologics Co Ltd
- Aurobindo Pharma Limited
- Sun Pharmaceutical Industries Ltd.
- Novartis AG
- Merck & Co. Inc.
- Cipla Ltd
- Pfizer Inc
- Fresenius Kabi
- Sanofi S.A
- AstraZeneca Plc
- Teva Pharmaceuticals.
- Mylan N.A
- Baxter International
- Dr. Reddy’s Laboratories Ltd
More Valuable Insights on Generic Injectable Market:
A detailed report published by FMI offers an unbiased analysis of the global generic injectable market, forecasting sales and demand statistics through 2021 and beyond. The survey reveals growth projections on in generic injectable market with detailed segmentation:
By Product type:
- Monoclonal Antibodies Generic injectable
- Immunoglobulin Generic injectable
- Cytokines Generic injectable
- Insulin Generic injectable
- Peptide Hormones Generic injectable
- Blood Factors Generic injectable
- Peptide Antibiotics Generic injectable
- Vaccines Generic injectable
- Small Molecule Antibiotics Generic injectable
- Chemotherapy Agents Generic injectable
By Molecule Type:
- Small Molecule Generic injectable
- Large Molecule Generic injectable
By Application:
- Oncology Generic injectable
- Infectious Diseases Generic injectable
- Diabetes Generic injectable
- Blood Disorders Generic injectable
- Hormonal Disorders Generic injectable
- Musculoskeletal Disorders Generic injectable
- CNS Diseases Generic injectable
- Pain Management Generic injectable
- Cardiovascular Diseases Generic injectable
By Route of Administration:
- Intravenous (IV) Generic injectable
- Intramuscular (IM) Generic injectable
- Subcutaneous (SC) Generic injectable
By Distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
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