United States Generic Injectables Market to Grow at a CAGR of 7% During 2024-2032, Aided by the Rising Research and Development and Increased Healthcare Spending

Rising healthcare costs in the US drive the demand for cost-effective solutions like generic injectables. Generic injectables offer affordability, enabling patients to save on expenses while reducing overall healthcare expenditures. The growth of the pharmaceutical industry and the increasing healthcare spending are anticipated to propel the United States generic injectables market growth. In 2022, the US healthcare spending surged to USD 4.5 trillion, marking a 4.1% increase from the prior year. Healthcare spending comprises 17.3% of the nation's Gross Domestic Product.

In addition, the surge in homecare, coupled with the rise in chronic diseases is supporting the demand for prefilled generic injections. Prefilled generic injections play a crucial role as they are user-friendly.

In March 2023, Techdow USA Inc. announced the FDA approval for its generic Enoxaparin Sodium in Prefilled Syringes. The launch complements Techdow USA’s aim to expand its product portfolio and meet the needs of patients and healthcare professionals.

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Market Breakup by Therapeutic Area, Containers, and Distribution Channel:

• The market is segmented based on therapeutic areas into oncology, anaesthesia, anti-infectives, parenteral nutrition, and cardiovascular.

• Based on containers, the market can be divided into vials, ampoules, premix, and prefilled syringes, among others.

• Based on distribution channel, the market is bifurcated into retail pharmacies and hospital pharmacies.

Key Findings of the Report:

• The demand for cost-effective drugs and treatments such as generic injectables is increasing in the US with the rising healthcare costs.

• Generic injectables are affordable and enable patients to save on expenses by lowing overall healthcare expenditures.

• The increasing research and development to launch improved and effective medications including generic injectables is shaping the market dynamics.

Key Offerings of the Report:

• The EMR report gives an overview of the United States generic injectables market for the periods (2017-2023) and (2024-2032).

• The report also offers historical (2017-2023) and forecast (2024-2032) market information for the therapeutic area, containers, and distribution channel of generic injectables.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States generic injectables market are Pfizer Inc., Hikma Pharmaceuticals PLC, Sandoz International GmbH, and Teligent, Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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