Worldwide Market Reports added Latest Research Report titled “Specialty Injectable Generics Market – Size, Share, Outlook, and Forecast till 2026”
Specialty injectable generics are drug therapies used for the treatment of chronic or life threatening disease states that require administration by injection, infusion or inhalation and sold as generics. It is used in the treatment of infectious diseases, cardiovascular problems, autoimmune disorders, and in the field of oncology.
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The higher efficacy of specialty injectable generics when compared to the conventional routes of drug administration has led to an increasing adoption of specialty injectable generics, thereby driving growth of the global specialty injectable generics market. Moreover, rising prevalence of diseases such as cancer, hepatitis C, and multiple sclerosis, and increasing number of patent expirations of blockbuster medication are also expected to boost growth of the specialty injectable generics market. Eloxatin, Alimta, Norditropin, and Remodulin are some of the major patent expirations in 2017.
However, complex process involved in the development of specialty generics, requirement of skilled workforce, and sourcing of raw materials are major factors that hamper growth of the global specialty injectable generics market.
Key Developments in Specialty Injectable Generics Market
Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the specialty injectable generics market. In September 2015, Pfizer acquired Hospira to expand its product portfolio of generic injectables and in May 2014, Hikma Pharmaceuticals acquired the U.S. generic injectable business of Bedford Laboratories to expand its product pipeline and strengthen its research and development activities.
Moreover, the generic version of Clolar known as clofarabine injection, which is used for the treatment of acute lymphoblastic leukemia was approved by the U.S Food and Drug Administration (FDA) in May 2017.
In 2014, Pfizer acquired InnoPharma, Inc., a generic injectable manufacturer specializing in the development of injectable for the treatment of cancer and CNS disorders. Furthermore, on April 20, 2018, Hikma Pharmaceuticals PLC announced that its wholly-owned U.S. subsidiary West-Ward Pharmaceuticals Corp. launched Dexrazoxane for injection, which is the generic equivalent to Zinecard.
Some of the major players operating in the global specialty injectable generics market include Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., Uman Pharma, Fresenius SE & Co. KGaA, Baxter, Par Pharmaceutical, Sagent Pharmaceuticals Inc., Teligent, and Hikma Pharmaceuticals PLC among others.
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