GCC $865 Mn Generic Injectables Markets, 2011-2018 & 2019-2024

DUBLIN, Feb. 22, 2019 /PRNewswire/ -- The "GCC Generic Injectables Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

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The GCC generic injectables market was worth US$ 438 Million in 2018. The market is further projected to reach a value of US$ 865 Million by 2024, exhibiting a CAGR of 12% over the forecast period.

Generic injectables are equivalents of brand-name injectables with respect to quality, dosage, route of administration, performance, strength and intended use. They are used for treating a wide array of life-threatening and chronic diseases including diabetes, cancer, cardiovascular diseases, rheumatoid arthritis, respiratory diseases, osteoporosis, etc.

In the GCC region, a rise in the prevalence of various lifestyle diseases has catalysed the uptake of generic injectables. The lower cost of these drugs compared to their branded equivalents further helps in providing substantial savings for the patients and healthcare providers.

GCC Generic Injectables Market Drivers/Constraints:

    --  An increase in the emigrant population along with a rise in both acute
        and chronic diseases has challenged the capability of the existing
        healthcare resources in the region. The consequent surge in the overall
        healthcare costs has boosted the demand for generic injectables.
    --  Upcoming patent expiry of a number of blockbuster drugs prescribed in
        key therapeutic areas is expected to help in expanding the product
        portfolio of generic injectable manufacturers.
    --  The total number of manufacturers in the generic injectables market is
        limited as compared to oral generics. This results in lower price
        erosion and significantly higher margins.
    --  Some of the other factors driving the generic injectables market in the
        region include a rising ageing population, development of the private
        healthcare market, improving standards of living, better awareness of
        health issues, etc.

Regional Insights:

Region-wise, Saudi Arabia represents the leading market, holding the largest market share. Other major regions include the UAE, Kuwait, Qatar, Oman and Bahrain.

Therapeutic Area Insights:

Based on the therapeutic area, oncology holds the largest market share. A rise in the number of cancer diagnoses coupled with improved access to treatment is currently driving the growth of this segment. Other major segments include anaesthesia, anti-infectives, cardiovascular, parenteral nutrition and others.

Distribution Channel Insights:

The market has also been divided on the basis of distribution channel as hospitals, clinics and retail pharmacy stores. Generic injectables are majorly distributed through hospitals.

Container Types:

On the basis of container type, the market has been segmented into vials, prefilled syringes, ampoules, premix and others. Currently, vials represent the major container type, accounting for the majority of the total market share.

Competitive Landscape:

The competitive landscape of the GCC generic injectables market along with the profiles of key players has also been analysed in the report.

For more information about this report visit https://www.researchandmarkets.com/research/sgcsvp/gcc_865_mn?w=5

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SOURCE Research and Markets