Generic Injectables Market for Vials Segment to Grow Significantly During 2021-2028
According to the latest research study on “Generic Injectables Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Container Type, Application, and Route of Administration,” the generic injectables market size is projected to reach US$ 150.65 billion by 2028 from US$ 74.74 billion in 2021; it is estimated to grow at a CAGR of 10.5% from 2021 to 2028. The report highlights trends prevailing in the market and factors governing the growth of the market.
Generic injectables are counterparts of branded injectables that are not protected by drug patents. They are as effective and safe as the innovator drugs since they have equivalent quality, active ingredients, strength, dosage, form, etc. The R&D cycle of generic injectables is shorter and cheaper. Generic injectable manufacturers do not require much investment in R&D and clinical trials. The generic injectables market growth is attributed to low R&D, marketing, and manufacturing costs, and the rising prevalence of chronic illness cases are expected to drive the growth of the market. However, critical inspection systems for prefilled injection and supply chain- related challenges may hinder the growth of market growth.
Increasing Patent Expiry of Branded Injectables Creating Opportunities for Generic Injectables Market Players:
The patents of branded injectables in several regions are likely to expire in the upcoming years, offering numerous remunerative opportunities to the generic injectables manufacturers. As per a recent publication by Business Standard, patented drugs worth US$ 240 billion will lose patents globally over the coming years. In India, the shortage of branded medicines and the expiry of branded drug patents have prompted generic injectable’s manufacturers to introduce advanced drug delivery systems, including self-injection devices. Biological E Limited, an Indian biotechnology and biopharmaceutical company based in Hyderabad, Telangana, is gaining recognition for broadening its portfolio with the addition of 20 routine and injectable products. Thus, generic injectables companies are tapping regulated markets and exploring other markets to generate incomes and establish stable revenue streams. Additionally, manufacturers in the generic injectables market are becoming future-ready by maintaining adequate supply chains to prevent vulnerabilities, such as those caused by the COVID-19 outbreak. Zydus Cadila is significantly reducing the price of its generic version of Remdesivir, namely Remdac. Thus, the nearing expiry of patent validity of branded injectables is likely to provide significant opportunities to generic injectables manufacturers.
The generic injectables market, based on product type, has been bifurcated into large molecule injectables and small molecule injectables. The large molecule injectable segment held a larger share of the market in 2021. However, the small molecule injectable segment is expected to register a higher CAGR in the generic injectables market during 2021-2028.
The generic injectables market, based on container type, is segmented into vials, premix, prefilled syringes, ampoules, and others. The vials segment held the largest generic injectables market share in 2021 and is anticipated to continue to be the largest shareholder in 2028.
The generic injectables market, by application, is segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. In 2021, the oncology segment held the largest generic injectables market share. However, the generic injectables market for the diabetes segment is expected to grow at the fastest CAGR during 2021-2028.
The generic injectables market, by the route of administration, is segmented into intravenous, intramuscular, subcutaneous, and others. In 2021, the intravenous segment held the largest share of the market. However, the intramuscular segment is expected to register the highest CAGR in the generic injectables market from 2021 to 2028.
AstraZeneca; Baxter International Inc.; Biocon; Fresenius SE & Co. KGaA; GlaxoSmithKline plc; Hikma Pharmaceuticals PLC; Johnson and Johnson Services, Inc.; Lupin; Merck & Co., Inc.; Viatris Inc.; and Pfizer Inc. are among the leading companies operating in generic injectables market.
Based on product type, generic injectables market is bifurcated into large molecule injectables and small molecule injectables. The generic injectables market, by container type, is segmented into vials, premix, prefilled syringes, ampoules, and others. Based on application, the market is segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. By the route of administration, the generic injectables market is segmented into intravenous, intramuscular, subcutaneous, and others. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SCAM).
Reasons to Buy
According to the latest research study on “Generic Injectables Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type, Container Type, Application, and Route of Administration,” the generic injectables market size is projected to reach US$ 150.65 billion by 2028 from US$ 74.74 billion in 2021; it is estimated to grow at a CAGR of 10.5% from 2021 to 2028. The report highlights trends prevailing in the market and factors governing the growth of the market.
Generic injectables are counterparts of branded injectables that are not protected by drug patents. They are as effective and safe as the innovator drugs since they have equivalent quality, active ingredients, strength, dosage, form, etc. The R&D cycle of generic injectables is shorter and cheaper. Generic injectable manufacturers do not require much investment in R&D and clinical trials. The generic injectables market growth is attributed to low R&D, marketing, and manufacturing costs, and the rising prevalence of chronic illness cases are expected to drive the growth of the market. However, critical inspection systems for prefilled injection and supply chain- related challenges may hinder the growth of market growth.
Increasing Patent Expiry of Branded Injectables Creating Opportunities for Generic Injectables Market Players:
The patents of branded injectables in several regions are likely to expire in the upcoming years, offering numerous remunerative opportunities to the generic injectables manufacturers. As per a recent publication by Business Standard, patented drugs worth US$ 240 billion will lose patents globally over the coming years. In India, the shortage of branded medicines and the expiry of branded drug patents have prompted generic injectable’s manufacturers to introduce advanced drug delivery systems, including self-injection devices. Biological E Limited, an Indian biotechnology and biopharmaceutical company based in Hyderabad, Telangana, is gaining recognition for broadening its portfolio with the addition of 20 routine and injectable products. Thus, generic injectables companies are tapping regulated markets and exploring other markets to generate incomes and establish stable revenue streams. Additionally, manufacturers in the generic injectables market are becoming future-ready by maintaining adequate supply chains to prevent vulnerabilities, such as those caused by the COVID-19 outbreak. Zydus Cadila is significantly reducing the price of its generic version of Remdesivir, namely Remdac. Thus, the nearing expiry of patent validity of branded injectables is likely to provide significant opportunities to generic injectables manufacturers.
Product Type-Based Insights
The generic injectables market, based on product type, has been bifurcated into large molecule injectables and small molecule injectables. The large molecule injectable segment held a larger share of the market in 2021. However, the small molecule injectable segment is expected to register a higher CAGR in the generic injectables market during 2021-2028.
Container Type-Based Insights
The generic injectables market, based on container type, is segmented into vials, premix, prefilled syringes, ampoules, and others. The vials segment held the largest generic injectables market share in 2021 and is anticipated to continue to be the largest shareholder in 2028.
Application-Based Insights
The generic injectables market, by application, is segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. In 2021, the oncology segment held the largest generic injectables market share. However, the generic injectables market for the diabetes segment is expected to grow at the fastest CAGR during 2021-2028.
Route of Administration-Based Insights
The generic injectables market, by the route of administration, is segmented into intravenous, intramuscular, subcutaneous, and others. In 2021, the intravenous segment held the largest share of the market. However, the intramuscular segment is expected to register the highest CAGR in the generic injectables market from 2021 to 2028.
AstraZeneca; Baxter International Inc.; Biocon; Fresenius SE & Co. KGaA; GlaxoSmithKline plc; Hikma Pharmaceuticals PLC; Johnson and Johnson Services, Inc.; Lupin; Merck & Co., Inc.; Viatris Inc.; and Pfizer Inc. are among the leading companies operating in generic injectables market.
The Report Segments Generic Injectables Market as Follows:
Based on product type, generic injectables market is bifurcated into large molecule injectables and small molecule injectables. The generic injectables market, by container type, is segmented into vials, premix, prefilled syringes, ampoules, and others. Based on application, the market is segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. By the route of administration, the generic injectables market is segmented into intravenous, intramuscular, subcutaneous, and others. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SCAM).
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the generic injectables market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global generic injectables market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. Generic Injectables Market - Market Landscape
5. Generic Injectables Market - Key Market Dynamics
6. Generic Injectables Market- Global Analysis
7. Global Generic Injectables Market Revenue and Forecast To 2028- by Product Type
8. Global Generic Injectables Market Revenue and Forecast To 2028- by Container Type
9. Global Generic Injectables Market Revenue and Forecast To 2028- by Application
10. Global Generic Injectables Market Revenue and Forecast To 2028- by Route of Administration
11. Generic Injectables Market Revenue and Forecast to 2028 - Geographical Analysis
12. Impact Of COVID-19 Pandemic on Generic Injectables Market
13. Generic Injectables Market- Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Executive Summary
The generic injectables market is projected to reach US$ 150.65 billion by 2028 from US$ 74.73 billion in 2021; it is expected to grow at a CAGR of 10.5% from 2021 to 2028.Low R&D, marketing, and manufacturing costs and high demand for affordable drugs are driving the generic injectables market growth. However, the critical inspection system for prefilled injection is hampering the generic injectables market growth.
Generic injectables are as safe and effective as innovator molecules because they are bioequivalent to their branded counterparts, but they are not patented for many reasons. These medications can be produced for commercial usage only after the patent expiration of the branded drug. As the drug molecules are similar in branded and generic formulation, no or minimal R&D cost is associated with generic injectables. The low upfront R&D costs allow drug manufacturers to sell generic injectables at lower prices. As stated by the US FDA, a single generic competitor can lead to price reductions of 30%, while five generics competing could lead to price drops of ~85%. Additionally, generic injectables saved US$ 2.2 trillion for the US healthcare system during 2009–2019. As mentioned in a report by Congressional Budget Office, the pharmaceutical industry spent US$ 83 billion on R&D in 2019. However, with generic injectables, the repetition of clinical studies is not required to demonstrate their effectiveness and safety, which contributes to their low prices.
Further, the approval process of generic medicines is faster than branded ones. As reported by the USFDA, in 2019, 107 first generic drugs and 110 complex generic drugs were approved, totaling 11% of the generic drug product approvals. Overall, in 2019, the generic drug program approved or tentatively approved 1,014 generic drug applications. Additionally, the development of a new chemical entity takes almost a decade on average, which is bypassed in the development of generic injectables. Thus, the low cost associated with generic injectables is one of the major factors attracting new players to enter the market and driving the generic injectables market.
Further, the patents of branded injectables in several regions are likely to expire in the upcoming years, offering numerous remunerative opportunities to the generic injectables manufacturers. As per a recent publication by Business Standard, patented drugs worth US$ 240 billion will lose patents globally in the coming years. In India, the shortage of branded medicines and the expiry of branded drug patents have prompted generic injectable manufacturers to introduce advanced drug delivery systems, including self-injection devices. Biological E Limited, an Indian biotechnology and biopharmaceutical company based in Hyderabad, Telangana, is gaining recognition for broadening its portfolio with the addition of 20 routine and injectable products. Thus, generic injectables companies are tapping regulated markets and exploring other markets to generate incomes and establish stable revenue streams. Additionally, manufacturers in the generic injectables market are becoming future-ready by maintaining adequate supply chains to prevent vulnerabilities, similar to those caused by the COVID-19 outbreak. Zydus Cadila is significantly reducing the price of its generic version of remdesivir, namely Remdac. Thus, the nearing expiry of patent validity of branded drugs is likely to provide significant opportunities to generic drug manufacturers, including the companies offering generic injectables.
Based on product type, the generic injectables market is segmented into large molecule injectables and small molecule injectables. In 2021, the large molecule injectables segment accounted for a greater market share. The market position of this segment is credited to a surge in the adoption of biologics in the healthcare sector, and the progress of monoclonal antibody and antibody-drug conjugates (ADCs) into the drug development.
The global generic injectables market, based on container type, has been categorized into vials, premix, prefilled syringes, ampoules, and others. The vials segment is likely to dominate the market in 2021. The rise in health awareness on the back of the growth in the detection of new life-threatening diseases is driving the growth of vial market segment during the forecast period.
The global generic injectables market, based on application, has been categorized into oncology, infectious diseases, cardiology, diabetes, immunology, and others. The oncology segment is likely to hold the largest share of the market in 2021. With the increase in the cancer incidences and rise in the launches of drugs is anticipated to drive growth of the oncology market segment. Moreover, increasing initiatives taken by the leading players across the globe, are some of the factors which is driving the growth of the overall market segment.
Based on route of administration, the global generic injectables market has been categorized into intravenous, intramuscular, subcutaneous, and others. The intravenous route of administration holds the largest market share in 2021. The growing prevalence of chronic diseases and increasing number of product launches, have resulted in fueling the demand for intravenous route of administration market segment during the forecast period.
The National Institutes of Health (NIH), National Healthcare Service (NHS), Centers for Disease Control and Prevention (CDC), Statistics Canada 2020, National Center for Biotechnology Information, National Cancer Institute, Globocan Statistics 2020, World Bank Data, American Association of Retired Person (AARP), Association for Accessible Medicines (AAM), Plastic Packaging Facts Organization, Italian National Institute of Statistics, Australian Institute of Health and Welfare, and World Health Organization (WHO) are among the major secondary sources referred to while preparing the report on the generic injectables market.
Companies Mentioned
- Astrazeneca
- Baxter International, Inc.
- Biocon
- Fresenius Se & Co. Kgaa
- GlaxoSmithKline plc
- Hikma Pharmaceuticals
- Johnson & Johnson Services, Inc.
- Lupin, Ltd.
- Merck & Co. Inc.
- Mylan N.V.
- Pfizer, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 217 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 74738.33 Million |
| Forecasted Market Value ( USD | $ 150654.37 Million |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
