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(April 23, 2018)
ALBANY, New York, April 23, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report titled, "Global Generic Injectables Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025". According to the report, the global generic injectables market is projected to reach over US$ 150 Bn by 2025 at a CAGR of around 13.6% from 2017 to 2025. Asia Pacific is expected to drive the global market. The market in the region is likely to expand at a CAGR of 15% from 2017 to 2025. This is attributed to high consumption of cost-effective generic injectable products, significant patient base, well-established guidelines for the development and manufacture of biosimilars, presence of large number of generic players in the region, and high incidence of cancer and diabetes in the region.
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Large molecule injectables segment is anticipated to expand at a rapid pace
The report offers detailed segmentation of the global generic injectables market based on product type, container type, application, end-user, and region. In terms of product type, the market has been bifurcated into large molecule injectables also known as biosimilars and small molecule injectables. The small molecule injectables segment held a major share of the market in 2016. However, the large molecule generic injectables segment is expected to expand at a rapid pace due to strong pipeline of biosimilar products, expected patent expiry of top selling blockbuster biological molecules by 2020, rise in research & development activities in complex therapeutic molecules suitable to be administered in the form of biosimilar injectables, and rapid evolution of regulatory framework to approve biosimilar products globally.
Dose accuracy and ease of administration make the prefilled syringes segment attractive
The prefilled syringes segment is anticipated to expand at the highest CAGR during the forecast period, due to dose accuracy, ease of administration, prevention of contamination, and increase in technological advancements in the form of multichambered syringes, which reduces chances of drug interactions. Moreover, evolution of advanced drug delivery systems such as auto injectors and injectable pens are expected to increase demand for prefilled syringes during the forecast period.
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The oncology segment to account for major share of the market by 2025
The oncology segment constituted major market share in 2016 owing to the rise in incidence of cancer, expected patent loss of majority of oncology injectables products, increase in use of injectable products to target tumors, and surge in research & development activities in oncology biosimilars such as monoclonal antibodies. The oncology therapeutic area is a top priority for product development among leading players in the market. For instance, Biocon is engaged in the clinical trials of oncology biosimilars such as Trastuzumab and Bevacizumab.
Market in Asia Pacific projected to expand at a high CAGR during the forecast period
Generic injectables are affordable versions of branded injectables, marketed after the loss of patent protection for the newly developed branded product. The economic condition in Asia Pacific favors the adoption of cost-effective generic products over branded ones. Generics represent 55% of the overall pharmaceutical market in Asia Pacific. Moreover, rapidly changing dynamics of the large molecule injectables in the region in the form of large number of players engaged in biosimilar product development, with large number of pipeline products ready to be launched by 2020, increase in competition , and increase in adoption of advanced injectables containers such as premixes and prefilled syringes are expected to drive the market in Asia Pacific during the forecast period. The generic injectables market in Europe varies significantly at the country level; however, the region accounts for a significant share of the global market. The market in North America is anticipated to expand at a rapid pace in the second half of the forecast period. This is due to development of strong regulatory framework for large molecule generic injectables, expected patent expiry of blockbuster biological molecules, strong biosimilars product pipeline of leading players to be launched by the end of 2020, increase in government support for the adoption of generic medicines to reduce burden of health care cost, and rise in demand for self-administered injections.
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Major players operating in the global generic injectables market include Pfizer Inc., Novartis AG (Sandoz International GmbH), Baxter, Fresenius SE & Co. KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals plc, Lupin Ltd., Sanofi, Biocon. The other prominent players in the global market include Dr. Reddy's Laboratories, Aurobindo Pharma, Sagent Pharmaceuicals, Inc., Zydus Cadila, GlaxoSmithKline plc, and AstraZeneca plc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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