GCC Generic Injectables Market Overview:
The GCC generic injectables market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Generic injectables are pharmaceutical drugs with identical active ingredients as their branded counterparts. They also exhibit similar efficacy, safety, strength, quality, dosage, side effects, and route of administration. Generic injectables are available in various containers, such as ampoules, vials, prefilled syringes, and premixes. They are widely used to treat cardiovascular diseases (CVDs), musculoskeletal disorders, diabetes, infectious diseases, and blood and hormonal disorders. Generic injectables are mainly used in oncology, immunology, parenteral nutrition, and pain management. They can deliver various products, such as monoclonal antibodies, chemotherapy agents, insulin, antibiotics, blood factors, cytokines, vaccines, and hormones. Generic injectables are readily available, cost-effective drugs offering high margins, lower investments, and faster regulatory approvals.
The widespread prevalence of chronic diseases is one of the primary factors driving the market growth in the region. Generic injectables are cost-effective alternatives for treating cardiovascular diseases (CVDs), cancer, respiratory disorders, diabetes, rheumatoid arthritis, osteoporosis, and osteoarthritis, as they offer the same efficacy, quality, and safety as a reference injectable. In addition to this, the widespread product adoption in the oncology segment to treat the cancer of lungs, prostate, breast, and bronchus is favoring the market growth. Furthermore, rising initiatives by several regional governments to promote the manufacturing of generic injectables and launch novel products, further making treatments more affordable and accessible to the masses, are providing an impetus to the market growth. Apart from this, the recent development of new generic injectables for treating rare diseases, such as hereditary angioedema (HAE), is positively influencing the market growth. Moreover, patents for several branded drugs are reaching their expiration date, which, in turn, is aiding various pharmaceutical manufacturers to expand their generic drug portfolios, thus acting as another growth-inducing factor. Besides this, the rising geriatric population, rapid technological advancements, and extensive research and development (R&D) activities are anticipated to drive the market growth in GCC.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC generic injectables market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC generic injectables market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC generic injectables market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC generic injectables market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC generic injectables market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC generic injectables market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC generic injectables market industry. Furthermore, the value chain analysis of the GCC generic injectables market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Generic Injectables Market Segment Insights:
The GCC generic injectables market has been analysed as followed:
Segmentation by Therapeutic Area:
Based on therapeutic areas, oncology represents the leading segment for generic injectables, accounting for the majority of the total market share. Rising cases of cancer along with patent expiry of oncology drugs are boosting the demand for generic injectables
Segmentation by Container:
According to the report, vials represent the most popular container type, holding the largest share. Vials are plastic or glass vessels which can be reused to store liquid after cleaning, and offer correct and explicit mark signs that give a visual indicator of the left-over quantity.
Segmentation by Distribution Channel:
On the basis of distribution channels, the market has been bifurcated into hospitals and retail pharmacy stores, wherein hospitals exhibit a clear dominance. Generic injectables cannot be traded or administered without medical assistance owing to which they are mostly available in hospitals.
Segmentation by Country:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Generic Injectables Market Report:
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