US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The US generic injectables market size reached US$ 18.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.

A generic injectable refers to a bioequivalent of the branded pharmaceutical needle with the same active ingredients and therapeutic effects. It has similar dosage, risks, side effects, consequences, performance, strengths, intended use, and route of administration. It is as safe and effective as the innovator drugs and used for rapidly transporting the drug into the body. It helps in the easy absorption of drugs into the body and reduces the frequency of dosage administration without affecting the effectiveness of the treatment. Besides this, it is cost-effective and does not require investments in testing, research and development (R&D), and promotional activities as compared to its branded counterparts. As a result, generic injectables are utilized in the treatment of various diseases, such as cancer, diabetes, osteoporosis, osteoarthritis, rheumatoid arthritis, and respiratory and cardiovascular disorders. 

US Generic Injectable Market Trends:

The growing geriatric population and the rising prevalence of chronic medical ailments, such as diabetes, cancer, and cardiovascular diseases, represent one of the key factors increasing the need for generic injectables in the US. In addition, the growing occurrence of lifestyle disorders due to changing dietary patterns and sedentary lifestyles of individuals is positively influencing the market. In line with this, various initiatives undertaken by the US government for providing support to key manufacturers and sellers are offering a favorable market outlook. This, in confluence with the low production cost of generic medicines, is contributing to the market growth. Furthermore, the expansion of offline pharmacies in the country, along with the easy availability of generic injectables via online pharmacies and the patent expiration of several branded injectables, are offering lucrative growth opportunities to generic injectables manufacturers. Additionally, drug shortages in the country, coupled with speedy approvals by the United States Food and Drug Administration (USFDA), are increasing the manufacturing of these injectables. Apart from this, rising investments by leading market players in research and development (R&D) activities for developing advanced generic injectables are creating a positive market outlook. Moreover, the widespread adoption of advanced technologies in the manufacturing process of generic injectables is propelling the market growth in the US.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the US generic injectables market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on therapeutic area, containers, and distribution channel.

Breakup by Therapeutic Area:

Oncology
Anesthesia
Anti-Infectives
Parenteral Nutrition
Cardiovascular

On the basis of the therapeutic area, the market has been segmented into oncology, anesthesia, anti-infectives, parenteral nutrition, and cardiovascular.

Breakup by Containers:

Vials
Ampoules
Premix
Prefilled Syringes

Based on the containers, the market has been bifurcated into vials, ampoules, premix, and prefilled syringes.

Breakup by Distribution Channel:

Hospitals
Retail Pharmacy

On the basis of the distribution channel, the market has been classified into hospitals and retail pharmacies.

Competitive Landscape:

The market is highly concentrated in nature with the presence of only a few top manufacturers who compete against one another in terms of prices and quality.

Key Questions Answered in This Report:

What was the size of the US generic injectables market in 2022?
What is the expected growth rate of the US generic injectables market during 2023-2028?
What has been the impact of COVID-19 on the US generic injectables market?
What are the key factors driving the US generic injectables market?
What is the breakup of the US generic injectables market based on the therapeutic area?
What is the breakup of the US generic injectables market based on the containers?
What is the breakup of the US generic injectables market based on the distribution channel?