Market participants engage in research and development efforts including clinical trials to create speciality injectables that are suggested for the treatment of chronic diseases like cancer, diabetes, or heart conditions. Over the course of the projected period, this is anticipated to fuel market expansion. For instance, the pharmaceutical company Merck Sharp & Dohme Corp., which focuses on research, recently published pipeline data in which it was noted that a clinical trial for the injection of Pembrolizumab, which is indicated for the treatment of Nonsquamous Non-Small Cell Lung Cancer (NSCLC), is currently in its Phase 3 and is anticipated to finish the primary study in 2023. Over the projected period, rising regulatory authority approvals for specialty injectables intended for chronic diseases like cancer, diabetes, heart conditions, and others are anticipated to drive market expansion. For instance, on January 27, 2021, the U.S. FDA granted approval for Cabenuva, a drug used by HIV-affected adult patients to maintain viral suppression with 12 doses over the course of a year. Cabenuva was developed by GSK Healthcare-owned ViiV Healthcare.
According to Coherent Market Insights, over the projected period (2021-2028), the market for Specialised Injectables is anticipated to grow at a CAGR of 10.2%, reaching an estimated value of US$ 43.6 billion in 2021.
Prominent Companies in the Specialty Injectables Industry:
1. Pfizer Inc.
The business is headquartered in Manhattan in New York City and was founded in 1849. Pfizer's medical research and medicine and vaccine development serve the fields of immunology, cancer, the heart, endocrinology, and neurology. The company successfully acquired Biohaven Pharma's calcitonin gene-related peptide programmes in October 2022. Pfizer bought Amplyx Pharmaceuticals and the antifungal drug fosmanogepix in April 2021. (APX001).
2. Mylan N.V.
The company was established in 1961, and its main office is in Canonsburg, Pennsylvania, in the United States. The company is a leading manufacturer of generic and speciality medications with a focus on respiratory, allergy, and mental therapy. Mylan announced in July 2020 that its Remdesivir would be commercially released in India under the brand name DESREMTM even though the coronavirus 2019 (COVID-19) epidemic is still developing.
3. Cipla Limited
The firm was founded in 1935 and has its main office in Mumbai. Cipla's main goal is to create medicines that may be used to treat a variety of illnesses, including arthritis, asthma, anxiety, heart disease, respiratory infections, and a host of other conditions. Gilead Sciences' Remdesivir will be marketed as CIPREMI in India, the company said in July 2020.
4. Biogen
The business was founded in 1978 and has its US headquarters in Cambridge, Massachusetts. The company specialises on the research, creation, and global distribution of pharmaceuticals for the treatment of neurological diseases. In February 2020, Biogen and Sangamo Therapeutics formed a global licencing deal to develop medications for neurological and neuromuscular disorders.
5. Merck & Co. Inc
The company was established in 1668, and its corporate offices are located in Rahway, New Jersey. Merck manufactures pharmaceuticals, vaccines, biologic treatments, and items for animal health. The company declared in September 2022 that it would combine with Merck Animal Health after paying an unknown fee for the cattle management firm Vence. PrognostiX Poultry was purchased by Merck Animal Health in February 2021.
6. AstraZeneca
The company was established in 1999, and its headquarters are in Cambridge, United Kingdom. Treatments for neurological, respiratory, inflammatory, viral, and heart problems are among its product offerings. In January 2023, AstraZeneca announced that it would purchase CinCor Pharma for $1.8 billion. The company announced in July 2022 that it would extend its portfolio of blood cancer drugs by purchasing TeneoTwo for up to $1.3 billion.
7. Teva Pharmaceutical Industries Ltd.
The business was founded in 1901 and has its headquarters in Tel Aviv, Israel. Despite focusing on generic medications, it also has certain subsidiary business interests in pharmaceutical active ingredients and, to a lesser extent, patented medications. The Science Based Goals project (SBTi) estimates that on January 19, 2023, Teva's ambitious climate goals will have been independently verified. On January 9th, 2023, Teva announced that the federal opioids deal would pass with support from many states.
8. Sun Pharmaceutical Industries Limited
The business was founded in 1983, and Mumbai serves as its corporate headquarters. The business develops and sells active medicinal components and pharmaceutical formulations. Palbociclib, a novel targeted treatment for advanced breast cancer, will be made available by Sun Pharma in January 2023 along with an original patient support programme. Thanks to a sole patent licencing from Lund beck, Sun Pharma launched their brand of vortioxetine in India in March 2022.
*Definition; Specialty injectables are medications that must be administered through injections and were created for the treatment of chronic disorders. Complex and rare disorders are treated with these specialist injectables.
