North America Generic Injectables Market
The generic injectables market in North America is expected to grow from US$ 22,072.74 million in 2021 to US$ 45,208.73 million by 2028; it is estimated to grow at a CAGR of 10.8% from 2021 to 2028.
Generic injectables are as safe and effective as innovator molecules because they are bioequivalent to their branded counterparts, but they are not patented for many reasons. These medications can be produced for commercial usage only after the patent expiration of the branded drug. As the drug molecules are similar in branded and generic formulation, no or minimal R&D cost is associated with generic injectables. The low upfront R&D costs allow drug manufacturers to sell generic injectables at lower prices. As stated by the United States Food and Drug Administration (US FDA), a single generic competitor can lead to price reductions of 30%, while five generics competing could lead to price drops of ~85%. Additionally, generic injectables saved US$ 2.2 trillion for the US healthcare system during 2009–2019. As mentioned in a report by Congressional Budget Office, the pharmaceutical industry spent US$ 83 billion on R&D in 2019. However, with generic injectables, the repetition of clinical studies is not required to demonstrate their effectiveness and safety, which contributes to their low prices. Further, the approval process for generic medicines is faster than for branded ones. As reported by the United States Food and Drug Administration (USFDA), in 2019, 107 first generic drugs and 110 complex generic drugs were approved, totaling 11% of the generic drug product approvals. Overall, in 2019, the generic drug program approved or tentatively approved 1,014 generic drug applications. Additionally, the development of a new chemical entity takes almost a decade on average, which is bypassed in the development of generic injectables. Thus, the low cost associated with generic injectables is one of the major factors attracting new players to enter the market and driving the generic injectables market.
Strategic insights for the North America Generic Injectables provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 22,072.74 Million |
| Market Size by 2028 | US$ 45,208.73 Million |
| Global CAGR (2021 - 2028) | 10.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Generic Injectables refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Generic Injectables Market Segmentation
The North America generic injectables market is segmented into product type, container type, application, route of administration, and country. Based on product type, the market has been segmented into large molecule injectable and small molecule injectable. In 2020, the large molecule injectable segment held a larger market share. In terms of container type, the market has been categorized into vials, premix, prefilled syringes, ampoules, and others. In 2020, the vials segment held the largest share of the market. Based on application, the market has been segmented into oncology, infectious diseases, cardiology, diabetes, immunology, and others. In 2020, the oncology segment held the largest share of the market. Based on route of administration, the market has been categorized into intravenous, intramuscular, subcutaneous, and others. In 2020, the intravenous segment held the largest market share. Based on country, the North America generic injectables market is segmented into the US, Canada, and Mexico. The US contributed a substantial share in 2020.
AstraZeneca; Baxter International Inc.; Biocon; Fresenius SE & Co. KGaA; GlaxoSmithKline plc; Hikma Pharmaceuticals PLC; Johnson and Johnson Services, Inc.; Lupin; Merck & Co., Inc.;
Pfizer Inc.;
and Viatris Inc are among the leading companies in the North America generic injectables market.
The North America Generic Injectables Market is valued at US$ 22,072.74 Million in 2021, it is projected to reach US$ 45,208.73 Million by 2028.
As per our report North America Generic Injectables Market, the market size is valued at US$ 22,072.74 Million in 2021, projecting it to reach US$ 45,208.73 Million by 2028. This translates to a CAGR of approximately 10.8% during the forecast period.
The North America Generic Injectables Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Generic Injectables Market report:
The North America Generic Injectables Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Generic Injectables Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Generic Injectables Market value chain can benefit from the information contained in a comprehensive market report.
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