Adoption of Generic Injectables Market To Surge During Forecast Period Owing To Increased Consumer Demand : FactMR
According to Fact MR’s recent market research, Generic Injectables sales to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges. Focus on improving overall patient care will remain a chief growth driver. Besides this, Generic Injectables market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare. To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth.
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Digital Transformation in Healthcare Presenting Opportunities for Generic Injectables Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation. Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Generic Injectables market. The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Generic Injectables market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Generic Injectables
The report offers actionable and valuable market insights of Generic Injectables. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Generic Injectables Market across various industries and regions. This newly published and insightful report sheds light on Market Insights of Generic Injectables, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Generic Injectables Market.
Global Generic Injectables: Market Segmentation
Fact.MR has studied the global generic injectables market with detailed segmentation on the basis of product type, container type, application and key regions.
- Large Molecule Injectables:
- Small Molecule Injectables
- Prefilled syringes
- Infectious diseases
- North America
- Asia Pacific
- Eastern Europe
- Latin America
- Middle East & Africa (MEA)
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Key Takeaways of Global Generic Injectables Market Study:
- Large-molecule injectables are projected to capture an impressive market share, tantamount to 3/5th of the overall generic injectables market. Burgeoning research and development in biosimilar products and anticipated patent expiry of blockbuster molecules are projected to leverage market share.
- By container, the prefilled syringes segment shall witness rapid expansion, registering an impressive CAGR of 14.1% during the forecast period. Dose accuracy and ease of administration are key growth drivers of this segment.
- Oncology specialists are anticipated to find maximum applicability of generic injectables. Rising number of cancer patients has augmented the need to use generic formulae to develop affordable and quality drugs. The segment is projected to account for around 30% of the overall generic injectables market.
- Most of the generic drug administration is projected to take place via intravenous methods. Rapid and predictable delivery of drugs and avoidance of first-pass metabolism are key factors anticipated to leverage the intravenous administration segment.
- Asia-Pacific is set to emerge as the leader of the global generic injectables market. Accelerated demand for injectable antibiotics to treat diseases such as diarrhea, typhoid, malaria & cholera and increasing prevalence of cancers are set to uplift the region’s growth. A staggering CAGR of 16.1% is predicted for Asia-Pacific.
- North America is becoming increasingly lucrative, owing to a greater number of abbreviated new drug application (ANDA) approvals, rising demand for inexpensive biosimilar products and rising prevalence of lifestyle diseases. The region is anticipated to expand at a CAGR of 11.4% throughout the forecast period.
- Significant supply-chain disruptions may hinder growth prospects for the global generic injectables market during the forecast period. The COVID-19 outbreak has resulted in a nearly complete lockdown of the entire world, disrupting business transactions and transportation of essential commodities across the world. Limited transport facilities has generated a significant gap between the demand and supply of critical drugs.
- However, analysts project that the market shall soon experience an upsurge in pricing in the short-term. This is attributed to the fact that consumers will eventually be willing to pay a higher price for the drugs they consume as it is a necessity for them.
Developing Pipeline Drugs to Remain Forte of Market Players
The global generic injectables market include, but are not limited to, players such as Pfizer, Inc., Novartis AG (Sandoz International GmbH), Baxter, Fresenius SE & Co., KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC., Lupin Ltd., Sanofi and Biocon. Pfizer Inc., dominates the global generic injectables market, holding one-tenth of the total market share. Currently, the company is in the process of developing a formula titled PF-06881894, a biosimilar to Neulasta® for oncology practitioners. Likewise, it is also developing a biosimilar for Rheumatoid Arthritis titled PF-06410293. It has also developed Pfizerpen, a Penicillin G Potassium powder used as an antibiotic injection. Sandoz Inc. is estimated to hold 1/20th of the global generic injectables market share. It also offers a strong biosimilar drugs pipeline. Its portfolio includes both blockbuster and niche products for all major therapeutic areas. Its generic drugs division includes Glatopa-based formulae such as Gilenya®, Afintor® and Glivec®. Sandoz operates globally through three franchises: retail generics, anti-infectives and biopharmaceuticals.
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Report Benefits & Key Questions Answered
- Generic Injectables Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Generic Injectables Historical volume analysis: The report provides a comparison of Generic Injectables’s historical sales and projected sales performance for 2021-2031.
- Generic Injectables Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Generic Injectables market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Generic Injectables Consumption by demographics: The report investigates consumer behavior affecting Generic Injectables demand outlook for the assessment period. Effect of their keenness for digital trends on Generic Injectables market is carefully analyzed
- Post COVID consumer spending on Generic Injectables: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Generic Injectables market growth.
More Valuable Insights on Generic Injectables Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Generic Injectables, Sales and Demand of Generic Injectables, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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