Allied Market Research

2024

Specialty Injectable Generics Market

Specialty Injectable Generics Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Application : Global Opportunity Analysis and Industry Forecast, 2022-2032

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Author's: | Roshan Deshmukh
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Specialty injectable generics are medications that are injected into the body to treat various medical conditions, and are produced by companies other than the original manufacturer of the branded drug. These medications are generally used to treat complex or chronic conditions, such as cancer, autoimmune diseases, and infectious diseases.
The specialty injectable generics market is experiencing rapid growth due to several factors, one of these being increase in prevalence of chronic diseases. This has led to a growing interest in specialty injectable generics, as they offer cost-effective alternatives to expensive branded drugs. Moreover, the expiration of patents for several branded drugs has paved the way for the entry of generic drugs in the market. This has created opportunities for manufacturers of specialty injectable generics to develop and market their products, leading to increased competition and lower prices.
In addition, advances in technology and research have made it easier and cost-effective to produce specialty injectable generics, leading to a wider range of options for patients and healthcare providers.
Specialty injectable generics are gaining popularity due to their cost-effectiveness in treating chronic diseases like cancer, autoimmune diseases, and infectious diseases. There is a growing demand for effective and affordable treatments as the prevalence of these diseases is increasing globally. Specialty injectable generics provide a viable alternative to their branded counterparts, offering similar therapeutic benefits at a lower cost. Patients who require long-term or complex treatments for these chronic diseases can benefit from these drugs. In addition, availability of specialty injectable generics has improved patient access to critical medications, especially in low- and middle-income countries, where cost is a significant barrier to accessing healthcare. Therefore, the increase in prevalence of chronic diseases is driving the growth of the specialty injectable generics market.
Advances in technology and research have significantly impacted the specialty injectable generics market. The development of new technologies such as recombinant DNA technology, genetic engineering, and biomanufacturing has made it easier and more cost-effective to produce these drugs. Biomanufacturing, in particular, has revolutionized the production process by using living cells to produce complex proteins and other biologic drugs.
In addition to technological advancements, research has also played a significant role in driving the growth of the specialty injectable generics market. As more research is conducted on the safety and efficacy of these drugs, more healthcare providers are willing to prescribe them, and more patients are willing to use them. This has led to a wider range of options for patients with chronic diseases such as cancer, autoimmune diseases, and infectious diseases.
Governments are taking initiatives to improve the affordability and accessibility of healthcare services, including the use of generic drugs. For instance, the US FDA has been promoting the use of generic drugs to reduce healthcare costs, and in some countries, there are programs that offer incentives for the use of generic drugs over branded drugs. This has helped to drive the growth of the specialty injectable generics market, as these drugs offer a more cost-effective alternative to branded injectable drugs.
 
New product launches to flourish in the market
In August 2021, Dr. Reddy's Laboratories launched Pregabalin Capsules, a generic version of Lyrica, in the US market. Pregabalin is used to treat neuropathic pain, fibromyalgia, epilepsy, and anxiety disorders. The launch of this generic version provides patients with a more cost-effective treatment option compared to the branded drug Lyrica, which was previously the only option available in the market. In June 2021, Fresenius Kabi launched Tinzaparin Sodium Injection, a generic version of Innohep, in the U.S. market. Tinzaparin sodium is an anticoagulant used to prevent and treat blood clots. The launch of this generic version provides patients with a more affordable treatment option compared to the branded drug Innohep. This launch also provides healthcare providers with a wider range of options to choose from when treating patients with blood clots. In April 2021, Lupin launched Sevelamer Carbonate Tablets, a generic version of Renvela, in the U.S. market. Sevelamer carbonate is used to treat high levels of phosphorus in the blood in patients with chronic kidney disease. The launch of this generic version provides patients with a more cost-effective treatment option compared to the branded drug Renvela. The availability of generic sevelamer carbonate tablets also provides healthcare providers with a wider range of options to choose from when treating patients with chronic kidney disease.
 
 
Segment Overview: 
By Type: The specialty injectable generics market is divided into two main categories: drugs and biologics. Drug injectables include chemically synthesized compounds that are used to treat various conditions such as cancer, autoimmune diseases, and infectious diseases. Biologic injectables, on the other hand, are complex molecules derived from living organisms or their products, such as antibodies or proteins. Biologic injectables are used to treat a wide range of conditions, including cancer, rheumatoid arthritis, and Crohn's disease. Due to their complexity, biologic injectables require specialized manufacturing processes and are generally more expensive than drug injectables. The distinction between drug and biologic injectables is important because the regulatory pathways for approval and market entry are different for each category.
 
By Application: The specialty injectable generics market is divided into oncology, cardiovascular, infectious diseases, central nervous systems, autoimmune disorders and others. The oncology segment is expected to be the largest market share holder due to the increasing incidence of cancer worldwide. Cardiovascular diseases such as hypertension, angina, and arrhythmia are the leading causes of death globally, making this segment a significant market as well. The infectious diseases segment includes treatments for conditions such as HIV, hepatitis, and tuberculosis. Central nervous system disorders include treatments for conditions such as multiple sclerosis, Alzheimer's disease, and Parkinson's disease. The autoimmune disorders segment includes treatments for conditions such as rheumatoid arthritis, psoriasis, and Crohn's disease. Lastly, the others category includes treatments for various diseases such as ophthalmic conditions, respiratory disorders, and hematology.
 
By Region: The Asia-Pacific specialty injectable generics marketis expected to experience significant growth due to several factors such as the increase in prevalence of chronic diseases, the surge in demand for cost-effective treatments, and the rise in healthcare expenditure. Moreover, the increase in government initiatives to promote the use of generic drugs, the presence of a large patient population, and the rise in focus of key players on expanding their market presence in the region are expected to contribute toward the growth of the market. However, the lack of adequate healthcare infrastructure and stringent regulatory requirements may hinder market growth to some extent. Overall, the Asia-Pacific region presents a lucrative market opportunity for specialty injectable generics, with countries like India and China being major contributors to the growth of the market.
 
Competitive analysis and profiles of the major players in the specialty injectable generics market, such as Baxter International Inc., Dr. Reddy's Laboratories Ltd, Hikma Pharmaceuticals plc., Cipla Ltd, Fresenius Medical Care, Novartis AG, par pharmaceutical, Pfizer Inc., pharmascience and Sagent are profiled in the report. Other players profiled in the report include Sun Pharmaceutical Industries Ltd and Teva Pharmaceutical Industries Limited. Major players have adopted product launch and acquisition as their key developmental strategies to improve the product portfolio of the specialty injectable generics market.   

Specialty Injectable Generics Market Report Highlights

Aspects Details
Specialty Injectable Generics Market By Type
By Type
  • Drugs
  • Biologics
Specialty Injectable Generics Market By Application
By Application
  • Oncology
  • Cardiovascular
  • Infectious Diseases
  • Central Nervous Systems
  • Autoimmune Disorders
  • Others
Specialty Injectable Generics Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

Cipla Ltd, Fresenius Medical Care, Novartis AG, Hikma Pharmaceuticals plc, Pfizer Inc., par pharmaceutical, Baxter International Inc., pharmascience, Dr. Reddy's Laboratories Ltd, Sagent

Key Market Players
Teva

Sun Pharmaceutical Industries Ltd, Teva Pharmaceutical Industries Limited

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Specialty Injectable Generics Market

Global Opportunity Analysis and Industry Forecast, 2022-2032