According to the latest report by IMARC Group, titled “India Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the india generic injectables market reached a value of US$ 2.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2027, exhibiting a CAGR of 12.8% during 2022-2027.
Generic injectables refer to pharmaceutical drugs that consist of active ingredients, effectiveness, intended use, strength, quality, and dosage that are similar to their branded counterparts. They can be divided into various kinds, including monoclonal antibodies, insulin, cytokines, peptide hormones, blood factors, vaccines, etc. Generic injectables are utilized to treat several life-threatening and chronic diseases, such as cancer, diabetes, cardiovascular ailments, rheumatoid arthritis, and respiratory infections. Compared to innovator drugs, they aid in ensuring maximized patient compliance, limited price erosion, reduced frequency of drug delivery, higher profitability for manufacturers, etc. As a result, generic injectables find widespread applications across hospitals, clinics, medical centers, pharmacies, etc.
Covid-19 Scenario: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends and Drivers:
The escalating prevalence of chronic diseases, owing to the rising pollution levels and the unhealthy lifestyles of individuals, is primarily driving the India generic injectables market. Apart from this, the development of advanced drug variants for effective administration and faster recovery of patients is further augmenting the market growth. Moreover, the improving healthcare facilities are also catalyzing the market across India. In addition to this, the expanding life science sector and the inflating technological advancements in drug delivery systems, including the introduction of self-injection devices, are acting as significant growth-inducing factors. Furthermore, the increasing expiry of branded medicines and patent items is expected to bolster the India generic injectables market in the coming years.
India Generic Injectables Market 2022-2027 Analysis and Segmentation:
