Impact Analysis of Covid-19 The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters. Request Sample

Generic Sterile Injectable Market – Paving the Way for Cost-effective Medication

The generic sterile injectable refers to biologics that are used for the treatment of various drugs and has same active ingredients to that of the branded versions of it, however the inactive contents of the drugs can be varied. The process of manufacturing generic sterile injectable is equivalent in the terms of the FDA regulations to that of the branded counterparts. A disease is characterized as chronic if it lasts for over three months within the patient according to the U.S. National Center for Health Statistics. The chronic diseases are one of the major causes of mortality as these diseases cannot easily be cured by vaccines and healthcare medication. According to the World Health Organization (WHO) in 2015, the non- communicable chronic diseases attributed to over 38 million death per year. These diseases include arthritis, diabetes, asthma, cardiovascular diseases, cancer, and also the viral diseases such as hepatitis C and HIV/AIDS. According to the 2013 fact sheet of Centers of Disease Control and Prevention (CDC), arthritis is suggested to be the most common cause of disability due to which 22 million doctor diagnosed patients have obstructed physical activity due to arthritis. According to the same report, around half of the U.S. population, i.e. 47% people have at least one major risk factor for cardiovascular disease, which mainly includes uncontrolled LDL cholesterol, high blood pressure, and smoking habits. The high prevalence rates of these diseases will inadvertently drive growth of the global generic sterile injectable market.

The global generic sterile injectable market was valued at US$ 42,900 million in 2015 and is expected to witness a CAGR of 10.2% during the forecast period (2017–2025).

Figure 1. Global Generic Sterile Injectable Market Share, By Drug Type (%)

Source: Coherent Market Insights Analysis (2017)

Rapid increase in the prevalence of chronic diseases globally drives the global generic sterile injectable market

Growing prevalence of chronic diseases and rapidly increasing ageing population that are highly susceptible to chronic diseases are major factors impacting growth of generic sterile injectable market in North America. Increasing number of chronic disorders such as cancer and diabetes as well as the consequent rise in demand for newer generic injectable across various countries in Europe would further fuel growth of the market in the region. However, stringent regulations by U.S. FDA such as, monitoring of the flexible intravenous (IV) solution bags from exposure to rough surfaces during labelling and packaging for any microscopic punctures or holes on the surface of the bag in order to avoid the microscopic defects that may lead to microbial contamination. However, the branded counterpart of the generic sterile injectable is more expensive and thus, cannot be afforded by a common population. Difficulties faced by manufacturing companies, in order to meet rising demands for these injectable in the hospitals, pharmacies, and drugs stores is one of the major concerns that may result in hampering the growth of the market. However, various dominant key holders are involved in acquiring small pharmaceutical companies to build a robust product portfolio of generic sterile injectable to fulfill the demand of these medications.

Key players indulged in strategic implementation of various policies for the product portfolio expansion of the generic sterile injectable