(MENAFN- America News Hour) In a recently published report, Global Generic Injectable Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Generic Injectable Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Generic Injectable Market is valued approximately USD 30.72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10 % over the forecast period 2020-2027. Generic injectables are bioequivalents of branded injectables and are not secured under medication patents. Since they have the same active ingredient, dose, strength, consistency, and type as the innovator drugs, they are both safe and efficient. While generic injectables are more difficult to manufacture, their research and development period is less expensive and shorter. Generic drug makers, unlike branded drug producers, do not need to invest millions of dollars in R & D and marketing. Furthermore, as opposed to oral generics, the number of entrants in the generic injectables industry is smaller, resulting in less price deflation and greater profit margins. The rising prevalence of chronic diseases has prompted developments in generic injectables research and development. The popularity of intravenous (IV) and intramuscular (IM) drug administration has grown in response to the need for urgent care alternatives. Insulin, for example, is best administered intramuscularly (IM).
Generic injectable medicines have a range of benefits, including quicker licenses, more biologic medications in production pipelines, and a greater demand for injectable medication delivery. Drug sales opportunities for vaccinations, monoclonal antibodies, peptides, immunoglobulins, and antibodies are being bolstered by factors such as cost-effectiveness and improved health outcomes. Generic injectables are now becoming more widely accepted as more cost-effective drugs than their branded counterparts. Adoption rates for generic injectables are increasing as a result of these trends. A variety of causes, including family medical history, obesity, among others, are contributing to an increase in the prevalence of lifestyle-related diseases such as diabetes in both developed and developing countries. The rising incidence of diabetes raises medical costs associated with its treatment. According to WHO statistics, the prevalence of diabetes is projected to grow from 117 million in 2000 to 422.0 million in 2030, owing to an increase in patient numbers. Diabetes prevalence was calculated to be 2.8 percent in all age ranges in 2000, and is expected to increase to 4.4 percent by 2030.
Additionally, the expiration of branded item patents and a decrease in the number of new product releases have benefited generic drugs and led to the growth of industry participants and product prices. As compared to the prices of premium drugs, generic injectables are comparatively inexpensive, giving a substantial boost to demand growth and still the net profits. Pfizer announced in July 2020 that it had reached an agreement to commit about US$ 465 million to the construction of a sterile injectable plant in Portage, Michigan. This growth is part of the company's strategy to spend about $5 billion in each U.S.-based capital challenge in order to keep up with developments in the country's corporate evaluation. However, manufacturing generic injectables necessitates sophisticated machinery, both of which must meet stringent registration and sterilisation requirements for – batch prior to output. Owing to the purchase/rent-to-lease of fixed assets, which results in high running expenses and debt ratios.
Furthermore, compliance costs are considerably higher as a result of FDA requirements that high levels of safety be maintained not only throughout the production process, but also during processing, transportation, and delivery. This impedes the growth of the market over the forecast period of 2020-2027. Although, the expansion of large molecule products into injectables are fueling developments presenting a lucrative opportunity for the market.
The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are included in the geographical study of the global Generic Injectable market. North America is the leading region across the world in terms of market share owing to the well-established infrastructure and rising R & D expenditure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2020-2027. Factors such as growth of government spending in pharmaceutical sectors would create lucrative growth prospects for the Generic Injectable market across Asia-Pacific region.
Major market player included in this report are:
Samsung Biologics Co Ltd
Aurobindo Pharma Limited
Sun Pharmaceutical Industries Ltd.
Merck & Co. Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product type:
Immunoglobulin Generic injectable
Insulin Generic injectable
Blood Factors Generic injectable
Peptide Antibiotics Generic injectable
Vaccines Generic injectable
Chemotherapy Agents Generic injectable
By Molecule Type:
Small Molecule Generic injectable
Large Molecule Generic injectable
By Route of Administration:
Intravenous (IV) Generic injectable
Intramuscular (IM) Generic injectable
Subcutaneous (SC) Generic injectable
By Distribution channel:
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Generic Injectable Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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