PUBLISHER: The Business Research Company | PRODUCT CODE: 1427828
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427828
A generic oncology sterile injectable is a biologic drug containing the same active ingredients as the branded version but differing only in the inactive components. It is utilized in the treatment of various cancer types, including breast, prostate, and colorectal cancers.
The primary products within the category of generic oncology sterile injectables include chemotherapy, antimetabolites, plant alkaloids, antitumor antibiotics, and other related medications. Chemotherapy, a type of treatment that employs potent chemicals to eliminate rapidly dividing cells in the body, is among the key components. These drugs are made available through diverse distribution channels such as hospital pharmacies, retail pharmacies, and online pharmacies. They are employed in the treatment of ovarian cancer, breast cancer, lung cancer, pancreatic cancer, and various other malignancies.
The generic oncology sterile injectable research report is one of a series of new reports from The Business Research Company that provides generic oncology sterile injectable market statistics, including the generic oncology sterile injectable industry's global market size, regional shares, competitors with generic oncology sterile injectable market share, detailed generic oncology sterile injectable market segments, market trends and opportunities, and any further data you may need to thrive in the generic oncology sterile injectable industry. This generic oncology sterile injectable market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The generic oncology sterile injectable market size has grown rapidly in recent years. It will grow from $15.68 billion in 2023 to $17.61 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth observed in the historical period can be attributed to the expiration of patents for branded oncology drugs, a rise in the prevalence of cancer, an increased emphasis on cost-effective healthcare solutions, regulatory backing for generic medications, and the expansion of generic pharmaceutical companies.
The generic oncology sterile injectable market size is expected to see rapid growth in the next few years. It will grow to $27.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth in the forecast period can be ascribed to the escalation in healthcare investments, the adoption of biosimilars in oncology, the expansion of pipelines for oncology drugs, an increase in global cancer incidence, and the establishment of regulatory pathways for generic sterile injectables. Major trends expected in the forecast period encompass the development of complex generic oncology drugs, the heightened use of advanced manufacturing technologies, the surge of personalized medicine in oncology, a growing emphasis on biosimilar competition, and the integration of digital technologies in supply chain management.
The anticipated growth in the generic oncology sterile injectable market is expected to be driven by the rising prevalence of cancer. Cancer, characterized by the uncontrolled proliferation of abnormal cells, can affect various organs or tissues in the body. Factors contributing to the increasing prevalence of cancer include smoking, exposure to radiation, carcinogenic substances, obesity, and genetic mutations. Generic oncology sterile injectable products play a crucial role in inhibiting the growth of cancer cells and reducing tumor size. In 2023, the American Cancer Society Inc., a non-profit health group based in the United States, projects that over 1.9 million new cancer cases will be diagnosed, marking an increase compared to the more than 1.8 million new cases diagnosed in 2021. Consequently, the growing prevalence of cancer is a key driver behind the expansion of the oncology sterile injectable market.
The growth of the generic oncology sterile injectable market is expected to be fueled by increasing government investments in oncology services. Government investments involve the allocation of public funds to various projects, programs, and initiatives with the goal of achieving specific economic, social, or strategic objectives. Enhanced government funding in cancer research, treatment facilities, and healthcare infrastructure contributes to improved accessibility and quality of oncology services. For example, in October 2021, the Minister for Health, Stephen Donnelly, announced an additional €20 million ($21.89) in new development funding for cancer services in Budget 2022 in Ireland. Therefore, the heightened government investments in oncology services play a pivotal role in propelling the growth of the oncology sterile injectable market.
Product innovation is a prominent trend gaining traction in the generic oncology sterile injectable market. Leading companies in the sector are actively involved in developing innovative products to maintain their competitive edge. For example, in July 2022, Dr. Reddy's Laboratories, an India-based pharmaceutical company, introduced Bortezomib for injection, a generic version of Velcade. This injection, available in a single-dose vial with a dosage of 3.5 mg per 10 mL, is designed for intravenous or subcutaneous administration and is utilized in cancer treatment.
Major players in the generic oncology sterile injectable market are strategically forming alliances to fortify their market positions. Strategic collaborations enable companies to join forces with other entities possessing the required expertise, transforming conceptual ideas into tangible realities. For instance, in July 2021, Terumo, a Japanese medical technology company, and the University Medical Centre Utrecht (UMCU) inked a memorandum of understanding (MoU) to extend their partnership in the realm of oncology. Through this MoU, Terumo and UMCU aim to transfer technology and develop solutions for generic oncology, encompassing tumor ablation and chemoembolization.
In April 2022, Hikma Pharmaceuticals PLC, a UK-based pharmaceutical company, completed the acquisition of Custopharm Inc. for $425 million. This strategic move is anticipated to enhance Hikma Pharmaceuticals' injectables business by incorporating a compelling portfolio of marketed products. Custopharm Inc. is a US-based company specializing in generic sterile injectables.
Major companies operating in the generic oncology sterile injectable market report are Pfizer Inc., Johnson & Johnson, Merck & Co Inc., Sanofi S.A., AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Sandoz International GmbH, Fresenius Kabi AG, Sun Pharmaceutical Industries Inc., Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals LLC, Lupin Limited, Zydus Lifesciences Limited, Nichi-Iko Pharmaceutical Co. Ltd., Biocon Ltd., Jubilant Pharmova Ltd., Gland Pharma Limited, Apotex Inc., Accord Healthcare Ltd.
North America was the largest region in the generic oncology sterile injectable market in 2023. Asia-Pacific is expected to be the generic oncology sterile injectable market report during the fastest-growing region in the forecast period. The regions covered in the generic oncology sterile injectable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the generic oncology sterile injectable market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The generic oncology sterile injectable market consists of sales of paclitaxel injection, doxorubicin hydrochloride injection, and gemcitabine hydrochloride injection. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Generic Oncology Sterile Injectable Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on generic oncology sterile injectable market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for generic oncology sterile injectable ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The generic oncology sterile injectable market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.