According to IMARC Group’s latest report, titled “US Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the market reached a value of US$ 16.3 Billion in 2021. A generic injectable is a type of drug that is not protected by patents. They are safe and effective and have a similar strength, dosage, active ingredient, form, and quality as their branded counterparts. In the US, generic injectables are widely used to treat various diseases, including osteoporosis, diabetes, cancer, osteoarthritis, rheumatoid arthritis, and respiratory and cardiovascular ailments. Apart from this, they assist in ensuring faster treatment efficacy, delivering lasting relief, targeting specific areas, promoting adjustable dosage, limiting price erosion, and fueling profit margins.
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The rising investments by the Federal Government of the United States (US Federal Government) for developing generic drugs is one of the key factors bolstering the market growth. In line with this, the growing drug shortages across the country have resulted in speedy approvals by the United States Food and Drug Administration (USFDA), which is further accelerating the market growth. Other factors, such as the patent expiry of blockbuster drugs, the increasing geriatric population, and the rising healthcare costs, are creating a positive outlook for the market. Looking forward, IMARC Group expects the US generic injectables market to reach US$ 29.6 Billion by 2027, exhibiting a CAGR of 10.21% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Key Highlights of the Market Segmentation:
Breakup by Therapeutic Area:
- Parenteral Nutrition
Breakup by Containers:
- Prefilled Syringes
Breakup by Distribution Channel:
- Retail Pharmacy
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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