According to the latest report by IMARC Group, the GCC generic injectables market size reached US$ 500 Million in 2019. Generic injectables refer to drugs that have the same active ingredients, strength, dosage and route of administration as that of branded injectables. In the GCC countries, the demand for injectables is rising as they help to increase patient compliance without compromising the effectiveness of the treatment. Moreover, the lower cost of these injectables, as compared to their branded equivalents, helps in providing substantial savings for both the patients and healthcare providers.
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GCC Generic Injectables Market Trends:
In the GCC region, there has been an rise in the proportion of the geriatric population, due to declining fertility rates and increasing life expectancy. This is expected to boost the sales of the generic injectables across the country for treating the diseases prevalent among the elderly. Furthermore, as the pharmaceutical industry in the GCC region is at a nascent stage, the governments of the countries are focusing on enhancing domestic manufacturing and supplying these drugs at affordable costs. For instance, the Ministry of Health in the UAE is working to increase the number of generic drug manufacturing facilities in the country. Apart from this, several domestic generic injectable manufacturers, particularly in Saudi Arabia, are collaborating with global and regional pharma players to expand their manufacturing capacity. Looking forward, the market value is projected to reach US$ 942 Million by 2025, registering at a CAGR of 11% during 2020-2025.
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Insights on Market Segmentation:
Market Performance by Therapeutic Area:
5. Parenteral Nutrition
Based on the therapeutic area, oncology dominates the market, holding the largest share. Other major segments include anesthesia, anti-infectives, cardiovascular and parenteral nutrition.
Market Performance by Distribution Channel:
3. Retail Pharmacy Stores
The market has also been divided on the basis of distribution channels into hospitals, clinics and retail pharmacy stores. Generic injectables are majorly distributed through hospitals.
Market Performance by Container Type:
2. Prefilled Syringes
On the basis of container type, the market has been segmented as vials, prefilled syringes, ampoules and premix. Amongst these, vials are the preferred container type, accounting for the majority of the overall market share.
Market Performance by Key Regions:
1. Saudi Arabia
Region-wise, Saudi Arabia enjoys the leading position in the GCC generic injectables market. Saudi Arabia is followed by the UAE, Kuwait, Qatar, Oman and Bahrain.
The competitive landscape of the GCC generic injectables market has also been analyzed with the profiles of the key players.
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