Growth in the demand for affordable medicines, rise in pressure to augment health care costs, surge in the adoption of bio-similar products, anticipated loss of patents over the period of forecast, and increase in the research & development activities for the development of various complex molecules are suitable for injectable dosage forms, and technological advancements
Growth in the demand for affordable medicines, rise in pressure to augment health care costs, surge in the adoption of bio-similar products, anticipated loss of patents over the period of forecast, and increase in the research & development activities for the development of various complex molecules are suitable for injectable dosage forms, and technological advancements in the form of premixes and prefilled syringes are also anticipated to propel the international market for generic injectables.
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Eminent players that are operating in the international market for generic injectables comprise names such as Biocon, Novartis AG (Sandoz International GmbH), Hikma Pharmaceuticals plc, Pfizer, Inc., KGaA, Mylan N.V., Sanofi, Teva Pharmaceutical Industries Ltd., Baxter, Lupin Ltd., and Fresenius SE & Co. Various other prominent players in the international market for generic injectables comprise names such as AstraZeneca plc., Zydus Cadila, Dr. Reddy’s Laboratories, GlaxoSmithKline plc, Sagent Pharmaceuticals Inc., and Aurobindo Pharma. These market players are expanding and diversifying their product portfolio by engaging in strategies such as new product launches and mergers & acquisitions by increasing research & development activities.
In accordance with a market intelligence report, the international market for generic injectables has been forecasted to rise at a healthy CAGR over the period of forecast that extends from the year 2017 to the year 2025.
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Generic Injectables Market: Regional Outlook
On the basis of geography, the world market for generic injectables is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa (MEA). Asia Pacific dominates the world market for generic injectables owing to high consumption of generic injectable products due to their affordability over branded and high cost biological products. Furthermore, surge in government initiatives so as to increase adoption of generic products, high prevalence of lifestyle and infectious diseases, and government support to initiate a generic medical store in the region are some significant factors that are estimated to boost the global market for generic injectables in the region during the period of forecast.
North America is anticipated to account for a very large share of the global market for generic injectables by 2025 owing to expected new abbreviated new drug application (ANDA) approvals by the year 2020, patent loss of blockbuster biological drugs as prescribed in major therapeutic areas such as oncology, and rising shortages of the generic injectables in the U.S. Europe also comes with a favorable market for bio-similar product launches owing to already well-established regulations. Furthermore, government initiatives with the aim of reducing the burden of health care cost has been supporting the usage of generic medicines is enabling the market to expand at a considerable pace.
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Generic Injectables Market: Segment Analysis
The world market for generic injectables has been segmented on the basis of product type, container type, application, route of administration, and region. On the basis of product type, the said global market has been segregated into large molecule injectables, also known as bio-similar products or generic biologics, and small molecule injectables. The segment of large molecule injectables is expected to expand at a rapid pace owing to expected expiry of patent of blockbuster molecules, rise in incidences of cancer, and rapidly rising new product launches. On the basis of container type, the international market for generic injectables has been categorized into prefilled syringes, vials, premixes, ampoules and others. In terms of application, the world market for generic injectables has been classified into immunology, oncology, diabetes, cardiology, infectious diseases, and others. Based on the route of administration, the world market for generic injectables has been divided into subcutaneous, intramuscular, intravenous, and others.
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