SEATTLE, May 24, 2018 (GLOBE NEWSWIRE) -- The global generic oncology sterile injectable market was valued at US$ 9,838.0 million in 2017 and is projected to exhibit a CAGR of 11.4% over the forecast period (2017–2025).
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Key Trends and Analysis of the Generic Oncology Sterile Injectables Market:
Manufacturers in the market are focusing on mergers and acquisitions to expand their product portfolio. For instance, Pfizer in 2016, acquired Medivation Inc., and Hospira sterile injectable pharmaceuticals in 2015. Teva acquired the Allergan plc’s worldwide generic pharmaceuticals business (Actavis Generics) in 2016. Baxter International, in 2017, entered into strategic partnership with ScinoPharm Taiwan Ltd., to develop, manufacture, and commercialize five injectables used in the oncology treatments.
Manufacturers are focusing on developing robust pipeline in the generic oncology sterile injectables market. Teva Pharmaceutical Industries Ltd. is focusing on generic pipeline that includes 330 product applications awaiting FDA approval in the U.S. Pfizer in December 2016, entered into strategic collaboration with IGNITE Immunotherapy Inc. for discovery and development of targeted and next-generation intravenous oncolytic vaccines for cancer immunotherapy. According to Generics and Biosimilars Initiative, 2017, around 15 biosimilars of bevacizumab are in development phase. Moreover, Sandoz, generic drug arm of Novartis AG, has biosimilar pipeline and plans to launch five biosimilar to treat oncology diseases by 2020.
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Key Market Takeaways:
- The market is expected to exhibit CAGR of 11.4% during the forecast period (2017–2025). This growth is attributed to continuous product launches by manufacturers and wide availability of these drugs.
- Therapies such as immunotherapies and biosimilars are under development stage, which is expected to aid in market growth in the near future.
- Global oncology sterile injectables market is expected to witness significant growth, owing to approval for cost-effective biosimilars. For instance, approval granted by U.S. FDA to Mvasi (bevacizumab-awwb), a biosimilar to Avastin (bevacizumab) in December 2017.
- Some of the players operating in the generic oncology sterile injectable market include Eli Lilly & Company, Biocon Ltd., Baxter International Inc., Hikma Pharmaceuticals PLC, Mylan N.V., Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., and Pfizer Inc.
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