Healthcare R&D spending in the United States increased by more than 33% between 2018 and 2020. Several investors in the United States are investing in research and development for the healthcare business, federal government, universities, and foundations.
NEWARK, Del: As per FMI, the global Generic Injectable Market is estimated to reach US$ 85 Billion in 2021. Rising demand for generic Injectables in applications such as pain management, cardiovascular diseases, oncology, and blood-related disorders is facilitating the growth in the market. On account of this, the market is projected to expand at a robust 11% CAGR from 2021 to 2031.
Rise in prevalence of lifestyle disorders such as obesity, diabetes, and others are resulting in surging demand for the management of such conditions. According to the World Health Organization (WHO), around 422 million people across the world are reported to have diabetes 2021. As generic injectables such as insulin injections offer immediate solutions for such ailments, growing burden of lifestyle diseases will create lucrative opportunities for growth of the market.
Rising popularity of intramuscular (IM) and intravenous (IV) routes of drug administration owing to better patient outcomes also will remain a chief growth driver. In addition to this, increasing demand for immediate and cost-effective treatment of various ailments such as infectious diseases, hormonal disorders, and musculoskeletal ailments among others is anticipated to propel the demand for generic injectable in the coming years.
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Among the product types, the monoclonal antibodies segment is projected to hold the largest revenue share in the market, accounting for around 44% of the sales between 2021 and 2031. Increasing adoption of these generic injectables for immunity boosting during the treatment of various chronic diseases is a primary factor favoring the growth in the market.
“Increasing research and development (R&D) activities for improving the effectiveness of biologic drugs for the treatment of chronic diseases and rising patient inclination towards injectable drug delivery solutions are expected to augment the growth in the market,” says a FMI analyst.
Key Takeaways from Generic Injectable Market Study
Key Drivers
Key Restraints
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Competitive Landscape
Leading players in the global generic injectable market are focusing on strengthening their market footprint by adopting strategies such as partnership, strategic collaboration, merger, and acquisition with various other organization. For instance,
Some of the key players operating in the market profiled by FMI are:
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More Valuable Insights on Generic Injectable Market
A detailed report published by FMI offers an unbiased analysis of the global generic injectable market, forecasting sales and demand statistics through 2021 and beyond. The survey reveals growth projections on in generic injectable market with detailed segmentation:
By Product type
By Molecule Type
By Application
By Route of Administration
By Distribution channel
By Region
Table of Content
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Key Inclusions and Exclusions
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