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Growing prevalence of cancer to augment generic oncology sterile injectable market growth

 


Market Overview:

 

Generic oncology sterile injectable are widely used for the treatment of cancers prostate, breast, colorectal, melanoma, lung, and bronchus. They have the same active ingredients as that of the branded version, with only the inactive contents of the drugs being different.

 

Competitive Landscape:

Eli Lilly & Company, Biocon Ltd., Baxter International Inc., Hikma Pharmaceuticals PLC, Mylan N.V., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., and Pfizer Inc.

Key Market Drivers:

Growing prevalence of chronic disease such as breast, prostate, colorectal, melanoma, lung, and bronchus is driving growth of the generic oncology sterile injectable market. According to the World Health Organization, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths.

Increasing partnership and collaboration in the field of generic oncology sterile injectable is again fostering market growth. For instance, in February 2017 – Baxter International Inc. and ScinoPharm Taiwan, Ltd. announced a strategic partnership to develop, manufacture and commercialize five injectable drugs used in a range of cancer treatments, including lung cancer, multiple myeloma and breast cancer, as well as medication to treat nausea and vomiting, common side effects of chemotherapy.

Covid-19 Impact Analysis

Spread of Covid-19 has impacted the supply and demand of generic oncology sterile injectable. This is attributed to the imposed of lockdown and quarantine policies to curb the spread of infection.

Key Takeaways:

1.      The generic oncology sterile injectable market is expected to exhibit a CAGR of 11.5% over the forecast owing to the growing prevalence of cancer.

2.       North America is expected to gain significant growth over the forecast period owing to the growing initiatives by key players to expand production of generic oncology sterile. For instance, in July 2019, Nexus has entered into an agreement with Wisconsin’s village Pleasant Prairie for the development of a sterile injectable manufacturing facility.

 

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