PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401824
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401824
Generic Injectable Pharmaceutical Contract Manufacturing Market size was valued at USD 10,100 Million in 2022, expanding at a CAGR of 11.2% from 2023 to 2030.
Generic Injectable Pharmaceutical Contract Manufacturing involves specialized contract manufacturers producing non-brand name injectable medications (e.g., intravenous, intramuscular, or subcutaneous routes) for pharmaceutical companies. This sector thrives on intricate manufacturing demands, investments in R&D, technological advancements, patent expirations, and pandemic impacts. It caters to cell and gene therapies, personalized medicines, HPAPI, and ADC markets. With a growing demand for cost-effective injectable drugs and an ongoing need in global healthcare, stakeholders collaborate to ensure regulatory compliance, quality production, and accessibility to affordable medications. Key segments include large molecule drugs (e.g., biosimilars) and oncology-focused products, witnessing continuous growth and innovation in the pharmaceutical market.
Generic Injectable Pharmaceutical Contract Manufacturing Market- Market Dynamics
Manufacturing demands of the pharmaceutical industry, heightened investments in pharmaceutical research and development to propel market demand
The expansion of this market primarily stems from the intricate manufacturing demands of the pharmaceutical industry, heightened investments in pharmaceutical research and development (R&D), a growing inclination towards advanced technologies, patent expirations, and the impact of the coronavirus pandemic. Moreover, the rising demand for cell and gene therapies, personalized medicines, as well as the surge in the High-potency Active Pharmaceutical Ingredients (HPAPI) and Antibody-drug Conjugates (ADC) markets, is anticipated to present significant opportunities for market participants. The continued increase in demand for cost-effective generic injectable drugs, coupled with the ongoing necessity for such medications within global healthcare systems, propels the growth of this market segment. Various stakeholders collaborate to meet regulatory standards, ensure quality production, and address healthcare needs for accessible and affordable injectable medications.
Generic Injectable Pharmaceutical Contract Manufacturing Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.2% over the forecast period (2023-2030)
Based on Material Type segmentation, large molecule was predicted to show maximum market share in the year 2022
Based on application segmentation, Oncology was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Generic Injectable Pharmaceutical Contract Manufacturing Market is segmented on the basis of Material Type, Application, End User, and Region.
The market is divided into two categories based on Material Type: Small Molecule and large Molecule. Based on material type, the significant revenue share in 2022 was held by the large molecule segment. The substantial focus on customized treatments and precision medicine significantly contributes to the growth of the large molecule generic injectable drugs segment in the U.S. Furthermore, the rise in product launches, including biosimilars, notably supports segment expansion. For instance, in January 2023, Amgen introduced AMJEVITA, a biosimilar to Humira, in the U.S. It was the first generic version of Humira approved by the U.S. FDA, indicative of factors expected to bolster segment growth.
The market is divided into seven categories based on application: Oncology, Immunology, Antidiabetic. Neurology, Cardiovascular, Respiratory and Others. Based on application, the oncology segment secured the largest revenue share in 2022. This is attributed to the increasing launch of generic products tailored for cancer treatment. Numerous contract manufacturers are concentrating on developing generic injectables for anti-cancer therapy. Additionally, a considerable pipeline of generic products for anti-cancer therapies is in progress, with several generic drugs slated for introduction into the market.
Generic Injectable Pharmaceutical Contract Manufacturing Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the competitive realm of the Generic Injectable Pharmaceutical Contract Manufacturing Market, companies employ multifaceted strategies to ensure their prominence and viability. These entities prioritize cost-effectiveness, meticulously fine-tuning manufacturing processes to deliver high-quality generic injectable medications at competitive prices. Quality and compliance remain non-negotiable, with a steadfast commitment to meeting stringent regulatory standards such as cGMP, driving investments in cutting-edge technologies and modern facilities. Diversification of services is a key pursuit, as contract manufacturers broaden their offerings to encompass various injectable formats, accommodating diverse client needs and market demands. Simultaneously, heavy emphasis on research and development fuels innovation, seeking advancements in manufacturing techniques, formulations, and drug delivery systems to stay ahead in the evolving landscape. Strategic partnerships and alliances are forged, fostering long-term collaborations with pharmaceutical firms seeking outsourcing solutions, ensuring mutual growth and stability. Moreover, a global outlook propels expansion initiatives, establishing manufacturing hubs in different regions to cater to a broader market while complying with regional regulations. Collectively, these strategies enable these companies to navigate the intricate dynamics of the pharmaceutical industry, driving competitiveness and sustained growth within the Generic Injectable Pharmaceutical Contract Manufacturing Market.
In March 2023, PCI Pharma Services, a biopharmaceutical contract manufacturer, disclosed plans to invest USD 50 million in expanding its sterile injectables facility situated in Rockford, Illinois.
The scope of this report covers the market by its major segments, which include as follows: