According to the latest report by IMARC Group, titled “US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the US generic injectables market share.
The US generic injectables market reached a value of US$ 16.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 29.6 Billion by 2027, exhibiting a CAGR of 10.21% during 2022-2027. A generic injectable is an off-patent medicine with similar active pharmaceutical agents and clinical benefits to its branded bioequivalent. It is administered through syringes to provide optimal safety, performance, and effectiveness as conventional counterparts. Apart from this, generic injectables ensure faster treatment efficacy at cost-effective rates, due to which they are extensively used by healthcare practitioners for treatment purposes.
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US Generic Injectables Market Trends:
The US generic injectable market is primarily driven by the increasing need for affordable medications due to the rising prevalence of various chronic diseases, especially amongst the geriatric population. Additionally, the introduction of intravenous (IV) and intramuscular (IM) modes of drug administration as immediate treatment options is propelling the market growth. Moreover, extensive investments made by the Federal Government of the United States (US Federal Government) in pharmaceutical companies are supporting the market growth. Additionally, continuous product innovations, such as the introduction of high-quality, ready-to-administer injectables and customized medications, are impelling the market growth. Apart from this, the growing shortage of branded counterparts, significant improvements in the healthcare infrastructure, and ongoing research and development (R&D) activities to enhance product efficacy are contributing to the market growth. Moreover the widespread adoption of advanced technologies in the manufacturing process is acting as a major growth-inducing factor across the country. Other factors, including the easy availability of generic injectables via online and offline pharmacies, patent expiration of several blockbuster injectables and the widespread awareness regarding the cost-efficiency of these injectables, are also favorably impacting the market growth.
Key Market Segmentation:
The report has segmented the US generic injectables market on the basis of therapeutic area, containers, distribution channel, end user and region.
Breakup by Therapeutic Area:
- Oncology
- Anesthesia
- Anti-infectives
- Parenteral Nutrition
- Cardiovascular
Breakup by Containers:
- Vials
- Ampoules
- Premix
- Prefilled Syringes
Breakup by Distribution Channel:
- Hospitals
- Retail Pharmacy
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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