PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252702
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252702
Generic Sterile Injectable Market size was valued at USD 79,058.1 million in 2022, expanding at a CAGR of 14.7% from 2023 to 2030.
The term "generic sterile injectable" refers to biologics that contain the same active ingredients as those found in the branded versions and are used to treat a range of medical conditions. However, its inactive components can vary from one another. The FDA (U.S. Administration of Food and Administration) regulates the production of generic sterile injectables, which are made in the same way as their commercial equivalents.
Global geriatric population growth and the rising prevalence of different chronic diseases are the two main factors driving the market for generic sterile injectables. The market for generic sterile injectables is expanding because older people are more susceptible to various diseases and spend more money on healthcare. By 2050, the World Health Organization predicts that there will be about 2 billion older people in the world. Since some medications cannot be given orally, the use of injectable drug delivery has become more popular. For instance, the only way to administer the insulin used to control diabetes is through injections. The demand for generic sterile injectables is being driven by the rising prevalence of numerous chronic illnesses like cancer, diabetes, and cardiovascular diseases. In 2020, there were estimated to be 19.3 million new cases of cancer and 10 million cancer-related deaths, according to a study by the International Agency for Research on Cancer.
Based on the product, the monoclonal segment is expected to dominate the market during the forecast period. The use of monoclonal antibodies in the therapy of conditions like cancer has spread quickly throughout the world. Without harming healthy cells, monoclonal antibodies can effectively cure infected cells while having little to no negative side effects. The market for monoclonal antibodies has increased significantly as a result.
Based on the distribution channel, the hospital segment is projected to dominate the market during the forecast period. The segment has grown significantly as a result of hospitals being used more frequently and a broad variety of generic sterile injectables being offered in hospital pharmacies.
North America is expected to dominate the market during the forecast period. One of the main factors driving the growth of the North American generic sterile injectable market is the rise in non-communicable disease prevalence, the presence of a sizable geriatric population, improved access to healthcare facilities, increased awareness of the advantages of injectable drugs, and the rise in healthcare spending. According to estimates, more than half of the US populace has one or more chronic illnesses. Furthermore, by 2050, there will be 95 million elderly people living in the US. 18% of the US GDP is attributed to healthcare spending. These are the main components that have fueled industry expansion.
In February 2022, Prochlorperazine Edisylate, a drug-infused similarly to other medications like Compazine injection of 10mg/2ml, was developed by Cosette Pharmaceuticals Inc. IT is used to manage nauseousness and regulate schizophrenia.
This proposed research study on the Generic Sterile Injectable market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Generic Sterile Injectable market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Generic Sterile Injectable market
The impact of COVID-19 on the Generic Sterile Injectable market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Generic Sterile Injectable market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Generic Sterile Injectable market, we have also included a competitive landscape and key innovator analysis for the Generic Sterile Injectable market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Generic Sterile Injectable market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Generic Sterile Injectable market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
Baxter
Fresenius Kabi
Civica
Pfizer
Teva
Hikma
Sandoz
Mylan
Nichi-Iko
3M
Merck & Co., Inc.
Monoclonal Antibodies
Cytokines
Insulin
Peptide Hormones
Vaccines
Immunoglobulin
Blood Factors
Antibiotics
Others
Cancer
Diabetes
Cardiovascular Disease
Central Nervous System
Musculoskeletal System
Others
Hospitals
Drug Stores
Retail Pharmacies
Others
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA