ASIA PACIFIC GENERIC ONCOLOGY STERILE INJECTABLE MARKET ANALYSIS

Asia Pacific Generic Oncology Sterile Injectable MarketSize and Trends

The Asia Pacific generic oncology sterile injectable market is estimated to be valued at US$ 4,055.3 Mn in 2021 and is expected to exhibit a CAGR of 12.2% over the forecast period (2021-2028).

Generic pharmaceuticals market is expected to witness significant traction, owing to large number of patent expiry of branded drugs. As a patent expires, various manufacturers anticipate to gain profit by selling the generic version of those drugs at significantly reduced prices. According to the IMS data in 2017, the patent expiry up to 2025 is likely to grow the generic injectable market from US$ 40 Bn in 2014 to US$ 70 Bn in 2020, of which the major share is contributed by the injectables. For instance, Cetuximab (Erbitux) is an epidermal growth factor receptor inhibitor that is indicated for the treatment of metastatic colorectal cancer and head and neck cancer. It is manufactured under the patent by Bristol-Myers Squibb, an American multinational pharmaceutical company and Eli Lily Company, a global pharmaceutical company. The patent of the drug expired in 2018 and thus, is expected to provide opportunity for a large number of market players to manufacture its generic version.

Figure 1: Asia Pacific Generic Oncology Sterile Injectable Market Share (%) Analysis, By DrugType, 2021

Patent expiry of biologics is a major factor that is expected to drive the market growth over the forecast period

Rising incidence of cancer cases   

Increasing incidence of cancer cases in Asia Pacific region is expected to augment the growth of Asia Pacific generic oncology sterile injectable market. According to Economic Intelligence Unit Limited — a Britain-based business within the Economist Group — in 2016, South Korea witnessed one of the world’s fastest increase in breast cancer incidence, with the age-standardized rates (ASR) roughly tripling over the past two decades.

Market Trends

The coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 256.4 million cases and 5.1 million deaths due to coronavirus (COVID-19) were reported till November 21, 2021, across the globe.