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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Latin America Generic Injectables Market Analysis
Generic injectables are similar to branded injectable medications in terms of active ingredients, strength, and clinical performance. However, they are typically sold at a lower cost and thus experience increased government and regulatory support for their manufacture and market penetration. The growing burden of chronic diseases and the increasing aging population are contributing to the expansion of the global generic injectables market. Further, the surge in the demand for cost-effective medications to address the rising healthcare needs is driving the Latin America generic injectables market growth.
In March 2023, GlaxoSmithKline (GSK) signed deals with three companies (Aurobindo Pharma, Cipla, and Viatris) that will allow them to manufacture cost-effective generic versions of its long-acting HIV preventive medicine (injectable drug cabotegravir) with a supply in 90 countries, primarily in lower-income countries with a high prevalence of HIV. GSK also announced a program with the Medicines Patent Pool (a United Nations-backed healthcare organization) in July 2022, with the aim to offer accelerated access to new HIV therapies in poor countries. Through this program, the company claims to introduce the generic form of its injection by 2026. The rise in such initiatives to combat drug shortages and address the need for affordable life-saving medications is poised to fuel the Latin America generic injectables market demand.
The patent expiration of brand-name injectables stimulates the entry of generic versions which directly impacts the market dynamics signfficantly. For instance, the patent of Danish firm Novo Nordisk’s popular diabetes and weight-loss subcutaneous injectable drug, semaglutide, will expire in 2026 in Brazil. In May 2023, the Brazilian federal court denied semaglutide patent extension request by the company, which means that the injectable formulations of semaglutide, Wegovy and Ozempic, will experience competition from first generics just after two years from now. Thus, the expiration of market exclusivity of original injectables is projected to elevate the market value in the forecast period.
Latin America Generic Injectables Market Report Snapshots
Latin America Generic Injectables Market Size
Latin America Generic Injectables Market Analysis
Latin America Generic Injectables Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 2.1 billion in 2023 driven by the rising patent expirations of branded drugs in the region.
The market is anticipated to grow at a CAGR of 8% during the forecast period of 2024-2032, likely to reach a market value of USD 4.2 billion by 2032.
The increasing prevalence of chronic diseases and the growing aging population are fuelling the demand for the market.
One of the significant trends in the market is the rising patent expiration of branded injectables. For instance, the patent of Danish firm Novo Nordisk’s popular diabetes and weight-loss injectable drug, semaglutide, will expire in 2026 in Brazil.
Based on the product type, the market is segmented into large molecule injectables and small molecule injectables. Large molecule injectables are further divided into monoclonal antibodies (mAbs), insulin, others.
Container types available in the market include vials, premix, prefilled syringes, and ampoules, among others.
Major applications of the market include oncology, cardiovascular, CNS, infectious diseases, and autoimmune disorders, among others.
The market breakup by route of administration includes intravenous, intramuscular, and subcutaneous, among others.
Distribution channels of the market are hospitals and retail pharmacies, among others.
The market segmentation by countries includes Brazil, Argentina, and Mexico, among others.
The key players in the market are Pfizer Inc., Viatris Inc., Biocon, Lupin, Aurobindo Pharma Limited, and Sun Pharmaceutical Industries Ltd.
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