Generic Drugs Market Overview:
IMARC Group’s latest research report, titled “Generic Drugs Market Outlook: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global generic drugs market reached a value of US$ 320 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 482.5 Billion by 2027, exhibiting at a CAGR of 7% during 2022-2027. A generic drug is an off-patented drug that is identical to other branded medicines in terms of effect, form, dosage, intended use, quality, and safety. These drugs can be manufactured only after the patent expiration of the brand-name drug. As compared to other branded drugs, these are less expensive and do not require extensive research and testing.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by therapy area, drug delivery and distribution channel.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Generic Drugs Market
- Strategies of major players and product offerings
Global Generic Drugs Industry Trends:
The global market is primarily driven by the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease. Furthermore, the significant growth in the pharmaceutical industry has driven market growth across the globe. Apart from this, the rising expenditure by the government as well as private companies to manufacture generic drugs that can improve the healthcare system has created a positive outlook for the market. Moreover, the growth in the geriatric population has positively influenced the market growth. Additionally, the upcoming patent expiry of many brand-name drugs is expected to drive the market towards growth.
Top Generic Drugs Companies Worldwide :
- Teva Pharmaceuticals Industries Ltd.
- Mylan N.V.
- Novartis AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Fresenius SE & Co.
- Lupin Limited
- Endo Pharmaceuticals Inc.
- Aurobindo Pharma Limited
- Aspen Pharmacare Holdings Limited
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Therapy Area:
- Central Nervous System
Based on the therapy area, the market has been classified into the central nervous system, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, oncology, and others. At present, central nervous system disease represents the leading therapy area.
Breakup by Drug Delivery:
On the basis of drug delivery, the market has been segmented into oral, injectables, dermal/topical, and inhalers. Presently, oral medicines account for the majority of the global market share.
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
Based on the distribution channel, the market is bifurcated into retail and hospital pharmacies. Amongst these, retail pharmacies exhibit a clear dominance in the market.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Generic Drugs Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Generic Drugs Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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