SEATTLE–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24CMI&src=ctag" target="_blank"gt;$CMIlt;/agt; lt;a href="https://twitter.com/hashtag/InjectableGenerics?src=hash" target="_blank"gt;#InjectableGenericslt;/agt;–According to Coherent Market Insights, the global specialty injectable
generics market was valued at US$ 31,300 million in 2017, and is
projected to exhibit a CAGR of 10.4% over the forecast period (2018 –
2026).
Key Trends and Analysis of the Specialty Injectable Generics Market:
Increasing prevalence of chronic diseases such as cancer and
cardiovascular diseases and patent expiry of leading branded products is
paving the entry for generics. Market players are actively having a
lookout on patent expiry of leading brands to substitute it with
generics and make the treatment cost effective. Moreover, the players
are focused on offering new and improved products in order to address
the critical unmet needs of patients. According to Bloomberg
Intelligence in 2016, generic market is poised for significant growth,
particularly in the injectables category. Injectables are important
additions to the generic product portfolio as they are relatively
protected by price pressure and comparatively commoditized than their
oral counterparts.
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Since 2011, there has been gradual a loss of patents on major complex
injectables, which paved the entry of generics through an Abbreviated
New Drug Application (ANDA) Fillings. Cetuximab (Erbitux) is an
epidermal growth factor receptor inhibitor that is indicated for the
treatment of metastatic colorectal cancer and head and neck cancer. It
is manufactured under the patent by Bristol-Myers Squibb and Eli Lily
Company in Europe. The drug’s patent expired in 2018 and thus is
expected to provide opportunity for a large number of market players to
manufacture its generic version.
Moreover, key players operating in the market are focused on adopting
acquisition strategies in order to gain access to innovative products
and expand their product offerings in the potential markets. For
instance, in September 2018, Aurobindo Pharma USA Inc. — a wholly-owned
subsidiary of Aurobindo Pharma Limited – acquired the generics oral
solids business and dermatology business of generic division of
Novartis’ Sandoz, Inc.
However, The FDA implemented cGMP guidelines for manufacturing of
generic sterile injectables. Moreover, these generic drugs are priced at
reduced compared to that of the branded drugs leading to significantly
low profit margins for manufacturers. Moreover, the FDA has enhanced
efforts to enforce GMP on manufacturers and hence, they are unable to
capitalize on generic drugs. This is expected to be factor hampering
growth of the global specialty injectables generics market.
To know the latest trends and insights prevalent in this market,
click the link below:
https://www.coherentmarketinsights.com/market-insight/specialty-injectable-generics-market-1877
Key Market Takeaways:
-
The specialty injectable generics market is expected to exhibit a CAGR
of 10.4 % during the forecast period (2018 – 2026), attributed to
increasing incidences of chronic diseases such as cancer,
cardiovascular diseases, and patent expiry leading to entry for
generics in market. For instance, Sanofi’s Zaltrap —indicated in
combination with 5-fluorouracil, irinotecan (FOLFIRI) for the
treatment of metastatic breast cancer – is expected to face a U.S.
patent expiry by 2020. Various other drugs in line for patent expiry
will lead to development of generic versions leading to improvement in
the availability for cancer treatment. -
The market growth is attributed to approval and launch of generics for
cost effective treatment of cancer and other diseases. For instance,
in the 2017, the U.S. Food and Drug Administration (FDA) approved
around 80 first generic drug, whereas 5 biosimilar products were
approved in the same year. -
Key players in the market are focused on adopting merger and
acquisition strategies to enhance their product portfolio, which in
turn is expected to propel the market growth over the forecast period.
For instance, in 2016, Lupin Ltd. completed acquisition of U.S.-based
GAVIS Pharmaceuticals LLC and Novel Laboratories Inc. (GAVIS). This
strategic acquisition enhanced Lupin’s scale in both the U.S. generics
and branded market as well as increased products in its pipeline in
dermatology, controlled substance products, and other niche generics. -
Key players operating in the specialty injectable generics market
include, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Novartis
AG, Baxter International Inc., Mylan N.V., Fresenius SE & Co. KGaA,
Endo International Plc., Hikma Pharmaceuticals PLC, Lupin Ltd., Sagent
Pharmaceuticals, Inc., Cipla Limited, Sun Pharmaceutical Industries
Limited, and Dr. Reddy’s Laboratories
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting
firm offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through various
recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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