Fresenius Kabi, Hikma Pharmaceuticals PLC, Sagent Pharmaceuticals, Inc., Sanofi SA, and Sandoz (Novartis) are the major players in the global market for generic injectables.
As per the analysis by Expert Market Research, the global generic injectables market size is expected to grow at a CAGR of 9% in the forecast period of 2022-2027, owing to the growing prevalence of diseases.
The global market for generic injectables is being driven by the growing prevalence of cancer, cardiovascular, and other diseases across the globe. This is coupled with the rising demand for such drugs to assist patients undergoing chemotherapy and alleviating after-effects, including pain.
The oncology segment, among other applications, dominates the industry, occupying a significant share. Among various distribution channels, hospitals account for the largest market segment.
Region-wise, North America is the leading market, accounting for over half of the total global market. The growth of the global generic injectables market in the region can be attributed to the availability of advanced technology and enhanced healthcare infrastructure. On the other hand, the Asia Pacific region is expected to be one of the emerging markets owing to the increased government expenditure in the healthcare sector in the region coupled with the presence of a large population.
The rising incidence of chronic, fatal, as well as lifestyle diseases worldwide, combined with the high expenses associated with their treatment, is fuelling the global generic injectables market growth. These drugs are bioequivalent to and are used as an alternative means to brand-name medicines, providing similar pharmacological effects in the treatment of various diseases.
With the rise in the number of patients, the use of generic injectables is growing as they save time and provide quick relief by getting injected directly into the bloodstream. Although, the production of generic injectables is complex, their research and development investment are cheaper and takes less time. Unlike branded drug manufacturers, generic drug manufacturers need not invest heavily in the manufacturing and marketing of their products.
The sudden increase in the overall healthcare costs has boosted the demand for these injectables. Further, the growing preference for generic oncology drugs for treating cancer patients is also contributing to the global generic injectables market. The rising geriatric population and the growing demand for cost-effective treatment procedures, particularly in emerging regions, are aiding the industry further.
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Sanofi is an innovative multinational healthcare organisation. Its staff, which is spread out over around 100 different nations, is devoted to changing the way medicine is practised by trying to make the impossible, possible. Sanofi, which places sustainability and social responsibility at the core of its aspirations, offers potentially life-changing therapeutic alternatives and potentially life-saving vaccine protection to millions of people worldwide.
An international healthcare organisation, Fresenius Kabi focuses on life-saving drugs and equipment for infusion, transfusion, and therapeutic nutrition. Patients who are critically and chronically ill receive assistance from its products and services.
|Headquarters:||London, United Kingdom|
Located in London, the United Kingdom, Hikma Pharmaceuticals plc is a global pharmaceutical firm that produces in-licensing and non-branded generic pharmaceuticals. For treating a variety of disorders, the company has a wide range of products and a developing pipeline of new medications.
|Headquarters:||Illinois, United States|
A division of the Nichi-Iko Group, Sagent Pharmaceuticals® produces pharmaceutical injectables and biosimilars. The flexibility of Sagent's internal and external manufacturing allows them to offer a wide range of therapeutic categories in their product line, as well as vials, syringes, and premix bags as packaging.
Swiss global pharmaceutical business Sandoz (Novartis) is headquartered in Basel, Switzerland. The company is one of the biggest in the pharmaceutical industry. By volume, Sandoz is the only business that has continually produced high-quality penicillin in Europe for over 70 years, making it the world's largest producer of generic antibiotics.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.