Overview and Scope
A generic oncology sterile injectable refers to a type of biologic drug with the same active ingredients as the branded version but with only the inactive contents of the drug being different. It is used to treat distinct types of cancer, such as breast, prostate, and colorectal.
Sizing and Forecast
The generic oncology sterile injectable market size has grown rapidly in recent years. It will grow from $15.68 billion in 2023 to $17.61 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to patent expirations for branded oncology drugs, increasing prevalence of cancer, growing focus on cost-effective healthcare solutions, regulatory support for generic medications, expansion of generic pharmaceutical companies.
The generic oncology sterile injectable market size is expected to see rapid growth in the next few years. It will grow to $27.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to increasing healthcare investments, adoption of biosimilars in oncology, expansion of oncology drug pipelines, rise in global cancer incidence, regulatory pathways for generic sterile injectables. Major trends in the forecast period include development of complex generic oncology drugs, increasing use of advanced manufacturing technologies, rise of personalized medicine in oncology, growing emphasis on biosimilar competition, integration of digital technologies in supply chain management.
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Segmentation & Regional Insights
The generic oncology sterile injectable market covered in this report is segmented –
1) By Product: Chemotherapy, Antimetabolites, Plant Alkaloids, Antitumor Antibiotics, Other Products
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Disease Indication: Ovarian Cancer, Breast Cancer, Lung Cancer, Pancreatic Cancer, Other Indications
North America was the largest region in the generic oncology sterile injectable market in 2023. Asia-Pacific is expected to be the generic oncology sterile injectable market report during the fastest-growing region in the forecast period. The regions covered in the generic oncology sterile injectable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising prevalence of cancer is expected to propel the growth of the generic oncology sterile injectable market going forward. Cancer is a category of illnesses that can develop in any organ or tissue in the body when aberrant cells proliferate uncontrollably, cross their usual boundaries, and either spread to other organs or invade neighboring body parts. The surge in the prevalence of cancer is driven by smoking, radiation, cancer-causing substances (carcinogens), obesity, and gene mutations. Generic oncology sterile injectable products are used to shrink tumors and stop the growth of cancer cells. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1.9 million new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1.8 million new cancer cases diagnosed in 2021. Therefore, the rising prevalence of cancer is driving the growth of the oncology sterile injectable market.
Key Industry Players
Major companies operating in the generic oncology sterile injectable market report are Pfizer Inc., Johnson & Johnson, Merck & Co Inc., Sanofi S.A., AstraZeneca plc, GlaxoSmithKline Plc, Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, Baxter International Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Sandoz International GmbH, Fresenius Kabi AG, Sun Pharmaceutical Industries Inc., Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma Limited, Cipla Inc., Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Lupin Limited, Zydus Lifesciences Limited, Nichi-Iko Pharmaceutical Co. Ltd., Biocon Ltd., Jubilant Pharmova Ltd., Gland Pharma Limited, Apotex Inc., Accord Healthcare Ltd.
The generic oncology sterile injectable market report table of contents includes:
1. Executive Summary
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