According to Coherent Market Insights, the global specialty injectable generics market was valued at US$ 31,300 million in 2017, and is projected to exhibit a CAGR of 10.4% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Specialty Injectable Generics Market:
Increasing prevalence of chronic diseases such as cancer and cardiovascular diseases and patent expiry of leading branded products is paving the entry for generics. Market players are actively having a lookout on patent expiry of leading brands to substitute it with generics and make the treatment cost effective. Moreover, the players are focused on offering new and improved products in order to address the critical unmet needs of patients. According to Bloomberg Intelligence in 2016, generic market is poised for significant growth, particularly in the injectables category. Injectables are important additions to the generic product portfolio as they are relatively protected by price pressure and comparatively commoditized than their oral counterparts.
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Since 2011, there has been gradual a loss of patents on major complex injectables, which paved the entry of generics through an Abbreviated New Drug Application (ANDA) Fillings. Cetuximab (Erbitux) is an epidermal growth factor receptor inhibitor that is indicated for the treatment of metastatic colorectal cancer and head and neck cancer. It is manufactured under the patent by Bristol-Myers Squibb and Eli Lily Company in Europe. The drug’s patent expired in 2018 and thus is expected to provide opportunity for a large number of market players to manufacture its generic version.
Moreover, key players operating in the market are focused on adopting acquisition strategies in order to gain access to innovative products and expand their product offerings in the potential markets. For instance, in September 2018, Aurobindo Pharma USA Inc. — a wholly-owned subsidiary of Aurobindo Pharma Limited – acquired the generics oral solids business and dermatology business of generic division of Novartis’ Sandoz, Inc.
However, The FDA implemented cGMP guidelines for manufacturing of generic sterile injectables. Moreover, these generic drugs are priced at reduced compared to that of the branded drugs leading to significantly low profit margins for manufacturers. Moreover, the FDA has enhanced efforts to enforce GMP on manufacturers and hence, they are unable to capitalize on generic drugs. This is expected to be factor hampering growth of the global specialty injectables generics market.
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https://www.coherentmarketinsights.com/market-insight/specialty-injectable-generics-market-1877
Key Market Takeaways:
About Coherent Market Insights:
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