SEATTLE, May 31, 2018 (GLOBE NEWSWIRE) — The global generic sterile injectables market is estimated to be valued at US$ 51,230.2 million in 2017, and is projected to exhibit a CAGR of 10.2% over the forecast period (2017 – 2025).
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Key Trends and Analysis of the Global Generic Sterile Injectables Market:
Increasing prevalence of chronic and infectious disease is expected to drive growth of the generic sterile injectable market. Chronic disease such as cancer, diabetes, asthma, COPD are the leading cause of death worldwide. For instance, according to the World Health Organization (WHO) in 2015, non- communicable chronic diseases attributed to over 38 million death worldwide annually, which is propelling demand for development of low cost generic vaccines. Furthermore, around 86% of infants are vaccinated against 26 diseases, 19.5 million children remain unvaccinated leading to death of 2-3 million children annually.
Expansion of biosimilar products with off patenting of the major patented drugs is expected to drive growth of generic sterile injectable market during forecast period. For instance, major brands such as Remicade, Humira, Cancidas, Cubicin and Invanz went off patent in 2017, leading to entry of generic products. Major players are strengthening their position in market with mergers and acquisitions. For instance, Baxter International completed acquisition of Claris injectable in 2017, which would expand footprint of Baxter in developing market. Baxter International Inc. entered into agreement with India-based Dorizoe Lifesciences in 2017, to develop more than 20 generic injectable products targeting infectious disease, oncology, and cardiovascular disease.
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Key Market Takeaways:
- The generic sterile injectable market is expected to exhibit a CAGR of 10.2% during the forecast period (2017 – 2025), attributed to increasing prevalence of chronic and infectious diseases worldwide
- Market growth is attributed to increasing off patenting of major drugs leading to entry of generic injectables into the market
- Major players operating in the global generic sterile injectable include Baxter International Inc., Fresenius Kabi, Pfizer, Inc., Novartis/Sandoz, Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Dr. Reddy’s, Mylan N.V., AstraZeneca Plc, and Merck & Co., Inc.
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