Global Generic Injectables Market Research Report 2022: Expiration of Branded Drug Patents & Rising Approvals for Generic Injectable Drugs – PR Newswire
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DUBLIN, March 15, 2022 /PRNewswire/ — The "Global Generic Injectables Market (2022 Edition) – Analysis By Molecule Type, (Small, Large), Therapeutic Area, Container Type, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com’s offering.
The global generic injectables market was valued at USD 134 billion in the year 2021 with North America region leading the regional market share.
Some of the key factors driving the generic injectables market growth are the expiration of branded drug patents, rising approvals for generic injectable drugs, rising aged population and the rising prevalence of life-threatening diseases among the global population.
In addition, as compared to the costs of branded drugs, generic injectables are relatively inexpensive and used in the treatment of major diseases such as cancer, cardiovascular diseases, diabetes, and so on that further supports market demand.
The Asia Pacific is estimated to be the fastest-growing region due to the growing focus of Indian companies on complex generics and the rise in adoption of generic injectables due to its cost-efficient nature.
In addition, the APAC countries (China and India) have the highest prevalent cases of different chronic diseases, that is projected to fuel the market growth in upcoming years. Meanwhile, North America will remain the dominant region in the global Generic Injectables market. United States in the North American region and China in Asia-Pacific are the major countries in the Generic Injectables market globally.
The outbreak of COVID-19 showed an impact on the global generic injectables market because hospitals, healthcare services, and drug manufacturers were significantly affected due to variety of restrictions imposed by governments across the globe such as social distancing, travel restrictions, border closures, restrictions on public gatherings, work from home and so on.
COVID-19 has had a direct impact on both supply and demand and created disruption in the supply chain, as many injectable drugs could not reach the market on time. Although the impact of COVID-19 in the pharmaceutical industry was a bit lesser compared to other industries, it still has been harmed in some ways.
Many clinical trials were delayed due to the pandemic, as researchers were not permitted to visit the laboratories and continue those ongoing trials. If there were no disruptions, those molecules would come into the market as a patented molecule, hence increasing the generic injectables market in the forecast period.
Pfizer Inc. is the world’s leading generic injectables company, having strengthened its position through the introduction of several generic injectable drugs as well as mergers & partnerships with regional pharma companies.
Recently in 2021, Pfizer Inc. partnered with Eli Lilly and Company, an American pharmaceutical company, to announce the approval of tanezumab, a generic injectable drug for treating osteoarthritis pain in the United States.
With more branded drugs coming off patent in the coming years, Pfizer has a clear plan to develop generic versions of those injectables and obtain FDA approvals to bring them to market.
Scope of the Report:
The companies analysed in the report include
Key Topics Covered:
1. Report Scope and Methodology
2. Strategic Recommendations
3. Generic Injectables Market: Product Overview
4. Global Generic Injectables Market: An Analysis
5. Global Generic Injectables Market Segmentation, By Molecule Type (Value)
6. Global Generic Injectables Market Segmentation, By Therapeutic Area (Value)
7. Global Generic Injectables Market Segmentation, By Container (Value)
8. Global Generic Injectables Market: Regional Analysis
9. North America Generic Injectables Market: An Analysis (2017-2017)
10. Europe Generic Injectables Market: An Analysis (2017-2017)
11. Asia Pacific Generic Injectables Market: An Analysis (2017-2017)
12. Global Generic Injectables Market Dynamics
13. Market Attractiveness and Strategic Analysis
14. Competitive Landscape
15. Global Generic Injectables Market: List of First-Time Generic Injectables Approvals in 2021
16. Company Profiles (Business Description, Financial Analysis, Business Strategy)
For more information about this report visit https://www.researchandmarkets.com/r/m145r2
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets
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