- Major players in the generic injectables market are increasing R&D activities, which focus on development of products intended for the treatment of cardiology and oncology health issues
- Focus of drugmakers on decreasing drug product administration costs and offering cost-effective products is expected to boost market expansion
ALBANY, N.Y., Nov. 2, 2021 /PRNewswire/ -- The global generic injectables market is expected to expand on the back of many factors, including the product approvals by government authorities. For instance, the Food and Drug Administration (U.S. FDA) recently announced the approval of foremost generic of glucagon for injection USP, which can used in the treatment of critical hypoglycemia. This drug can be utilized as a diagnostic support in the radiologic examination of many body parts such as duodenum, stomach, colon, and small bowel in instances when weakened intestinal motility might be advantageous.
The analysts at Transparency Market Research (TMR) note that the global generic injectables market is expected to expand at a CAGR of 12.3% during the forecast period, 2021-2031. Several market players such as Sun Pharmaceutical Industries Limited are increasing focus on providing superior quality generic and branded injectables at reasonable prices.
Generally, syringes are considered one of most critical containers when it comes to performing their inspection process. Thus, specific handling protocols are required for these products than the regular primary packaging types. Considering this fact, major companies in the global generic injectables market are growing the incorporation of advanced inspection systems, which allow for prevention of glass-to-glass contact and careful handling of syringes. These efforts are helping market enterprises to deal with the issues of breakage or cracks.
Companies Focus on Development of Complex Injectable Products
Major players operating in the global generic injectables market are expanding their product portfolio. For instance, Biological E Limited has diversified its product range in 20 regular as well as complex injectable products. Moreover, several enterprises are concentrating on their expansion in regulated as well as newer markets.
Market Leaders Educate Enterprises on Handling Drug Containment and Delivery
In recent years, there is a surge in the demand for specialty generic injectables that are packaged in glass vials. Several enterprises in the global generic injectables market are conducting webinars to increase awareness among new market entrants about the need for simplicity and flexibility at the time of performing drug containment and delivery procedures.
Rise in elderly patient pool, increase in prevalence of numerous health conditions, including diabetes, cardiac, and cancer, and surge in the use of generic injectables around the globe are some of the crucial factors driving the sales opportunities in the global generic injectables market
Government authorities as well as the BFSI sector from several countries around the world are offering various programs and financial schemes for companies in the generic injectables market. These financial aids are helping market enterprises in streamlining their business activities according to the volatile market situations.
Enterprises are seen strategizing their moves to be prepared for future market needs. Companies are ensuring that they have sturdy supply chains in order to avoid and deal with the vulnerabilities that may occur due to potential COVID-19-like scenarios. Moreover, several market players such as Zydus Cadila are making generic version of Remdesivir, named Remdac, available at cheaper prices.
Major players in the global generic injectables market are diverting their cash in-flow toward research activities, which are focused on the development and commercialization of highly advanced drug delivery systems
Generic Injectables Market: Key Players
The report profiles some of the key players in the generic injectables market. This list includes following names:
Baxter International, Inc.
Fresenius SE & Co. KGaA
Hikma Pharmaceuticals plc
Johnson & Johnson Services, Inc.
Novartis AG (Sandoz International GmbH)
Sun Pharmaceutical Industries Ltd.
Piramal Pharma Solutions
Teva Pharmaceutical Industries Ltd.
Generic Injectables Market Segmentation
Large Molecule Injectables
Small Molecule Injectables
Route of Administration
Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Drug Delivery Systems Market: The global drug delivery systems market was valued approximately US$ 510 Bn in 2016 and is anticipated to expand at a CAGR of over 6.9% from 2017 to 2025 to reach approximately US$ 900 Bn by 2025. Increase in demand for self-administration and home health care devices are likely to fuel expansion of the global drug delivery systems market from 2017 to 2025.
Lyophilized Injectable Market: Manufacturers in the lyophilized injectable market are increasing efforts to reduce breakage rates and heat-transfer capability in vials. They are conducting several lyo-breakage tests using worst-case injectable formulations and cycle designed to break vials. Companies are producing flat base vials with squared-off shoulder and heel vials to yield better performance in lyophilization applications.
Sterile Injectable Drugs Market: The global sterile injectable drugs market is prophesied to achieve growth on the back of short timelines for approval of new drugs to be used in the treatment of chronic diseases such as cancer. The Food and Drug Administration (FDA) in the U.S. is observed to approve sterile injectable drugs at a faster rate.
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