The global generic injectables market size was significantly robust in 2022 and is expected to register a steady revenue CAGR over the forecast period. Key factors providing impetus to market revenue growth are rise in global geriatric population, rising prevalence of infectious, neurological, and cardiovascular disorders, growing burden of chronic diseases such as cancer and diabetes, and surging demand for generic injectables.
Generic injectables are biologics that act as low-cost alternatives to their branded counterparts. These injectables are highly similar to their branded versions in terms of form, dosage, safety, efficacy, and route of administration, and they also contain the same active pharmaceutical ingredients as those in the branded ones, although there may be variations in the inactive ingredient content. Generic injectables demonstrate bioequivalence, implying that they offer the same clinical benefits as those offered by the branded versions. The Office of Generic Drugs (OGD) of the US Food & Drug Administration (FDA) ensures all generic drugs comply with the same drug safety and quality standards that are met by their branded counterparts.
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Major Factors Driving Growth of the Global Generic Injectables Market:
Revenue growth of the global generic injectables market is significantly supported by increasing prevalence of acute and chronic disease worldwide, growing use of generic intravenous or intramuscular injections as immediate treatment options, and rising awareness of the advantages associated with generic injectables such as better market availability, faster regulatory approvals, better patient outcomes, and lesser costs compared to the branded versions. Increasing use of monoclonal antibody (mAb) injectables in the treatment of cancer and various immunological disorders, rising volumes of antibody tests for COVID-19 diagnosis, and unprecedented surge in demand for COVID-19 vaccine are other important factors driving the global market growth.
Factors Restraining Growth of the Global Generic Injectables Market:
Certain disadvantages associated with generic injectables are expected to restrain the global generic injectables market growth. Differences in active pharmaceutical ingredient (API) content in the generic and original drugs could sometimes lead to risks of intolerance or sensitivity in patients. Moreover, improper conditions and lack of hygiene in many manufacturing sites of generic drugs lead to product contamination. Hence, such factors are expected to hamper market growth to a substantial extent.
Opportunities for Players Operating in the Global Generic Injectables Market:
Increasing therapeutic applications of parenteral drugs, growing investments in the development of generic drugs, and rising preference for cost-effective alternatives to branded drugs are some of the major factors creating growth opportunities for the major players as well as new entrants in the global generic injectables market.
Global Generic Injectables Market Leading Application Segment:
Based on application, the global generic injectables market is segmented into infectious diseases, anesthesia, oncology, cardiology, immunology, diabetes, parenteral nutrition, and others. The oncology segment dominated other segments in the global market in terms of largest revenue share in 2020. Rising burden of cancer worldwide, increasing use of generic injectables in the treatment of a wide range of cancer types, and rise in R&D activities for generic cancer drugs and therapeutics are among the major factors accounting for the growth of this segment.
Global Generic Injectables Market Leading Route of Administration Segment:
Based on route of administration, the global generic injectables market is segmented into intravenous, intramuscular, subcutaneous, and others. The intravenous segment is expected to register the fastest revenue CAGR over the forecast period, owing to many favorable factors. Key factors contributing to the growth of this segment are increasing occurrences of infectious, cardiovascular, immunological, and oncological disorders globally, growing need for intravenous medications, and increasing preference for generic intravenous drugs due to higher cost-effectiveness.
North America Accounts for Largest Revenue Share in the Global Generic Injectables Market:
Among regional markets, North America was the leading market for generic injectables in 2020, with the largest revenue contribution. Rise in government investments in pharmaceutical and biopharmaceutical R&D activities, increasing research collaborations between pharmaceutical manufacturers and universities, and growing acceptance of generic drugs are among the primary factors driving the North America market revenue growth. Growing prevalence of chronic diseases such as diabetes and cancer, increasing cases of cardiovascular, oncological, and infectious diseases, and increasing regulatory approvals of large molecule generic injectables and biosimilars further boost the regional market growth.
Asia Pacific Continues to Lead in Terms of Revenue CAGR:
Asia Pacific is expected to dominate other regional markets with the fastest revenue growth rate over the forecast period. The market for generic injectables in Asia Pacific is expected to grow significantly due to favorable factors such as rising prevalence of chronic and acute diseases, increasing production and distribution of generic drugs, and emergence of new and advanced generic injectables. China and India are the largest producers of generic drugs in the APAC region.
Major Companies Profiled in the Report:
- AstraZeneca Plc
- Baxter International, Inc.
- Biocon Limited
- Fresenius SE & Co. KGaA
- GlaxoSmithKline plc
- Hikma Pharmaceuticals plc
- Johnson & Johnson
- Lupin Limited
- Merck KGaA
- Mylan N.V.
- Novartis AG
- Pfizer, Inc.
- Piramal Pharma Solutions
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
Strategies and Objectives of the Major Companies:
- In April 2021, Gland Pharma, a leading pharmaceutical company in India, received the US FDA approval for its generic injectable drug Foscarnet Sodium Injection, 6000 mg/250 mL (24 mg/mL). Foscarnet Sodium injection – which is a generic version of the Foscavir injection by Clinigen Healthcare – is indicated for cytomegalovirus retinitis, a retinal inflammation condition occurring predominantly in people with AIDS. According to reports, the company has also been granted a Competitive Generic Therapy (CGT) designation for the new product.
- In January 2020, renowned US-based pharmaceutical company Armas Pharmaceuticals Inc. launched four new generic injectables, namely, Caffeine Citrate Injection, Gemcitabine Injection, Docetaxel Injection, and Verapamil HCI Injection. Reportedly, the new launches brought the total count of Armas’ wide-ranging product portfolio to eleven.
What Our Report Provides and Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global generic injectables market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global generic injectables market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, the global generic injectables market is segmented based on product type, container type, application, route of administration, distribution channel, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Large-molecule Injectables
- mAb (monoclonal antibodies)
- Small-molecule Injectables
Container Type Outlook (Revenue, USD Billion; 2023-2032)
- Prefilled Syringes
Application Outlook (Revenue, USD Billion; 2023-2032)
- Infectious Diseases
- Parenteral Nutrition
Route of Administration Outlook (Revenue, USD Billion; 2023-2032)
Distribution Channel Outlook (Revenue, USD Billion; 2023-2032)
- Hospitals Pharmacies
- Retail Pharmacies
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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