Dublin, April 28, 2021 (GLOBE NEWSWIRE) — The report “Generic Drugs Market in the United States by Segment (Generic, Branded), Therapeutic Application, Company Analysis and Forecast” has been added to from ResearchAndMarkets.com offer.
The US generic drug market will reach US$239.5 billion by 2026.
Generics are an off-patent drug that is the pharmaceutical equivalent of brand name drugs in terms of administrative dosage, quality, effect, intended use, and side effects. In the United States, the production of generic drugs has increased because they are cheaper than any brand name drug. Over the past 3 decades, the US generic drug market has grown from less than 20% of generic drug prescriptions to 80% of generic drug prescriptions.
Generic drugs help sustain the country’s healthcare system, from curing patients to saving money. Currently, the price of off-label drugs is 70 to 80% lower than that of brand name drugs. In the United States, the decline in the price of drugs is the main catalyst for the growth of the generic drugs market. The prices of these generic drugs have sometimes dropped up to 85% less than the patented drugs; this happens when various generic drug companies target a single patented drug. the research findings suggest that the US off-label drug market will grow with a CAGR of 5.69% in the future from 2020 to 2026.
The United States government’s awareness of the use of generic drugs is reducing overall healthcare expenditures in the country. The FDA’s Office of Generic Drugs (OGD) within the Center for Drug Evaluation in Research ensures Americans have access to safe, high-quality, and affordable drugs. The US government has passed a generic drug law, allowing a new player to enter the market. Besides factors such as increasing number of patients with diabetes, Alzheimer’s, heart disease, growing number of drug patent expirations and government initiatives that are expected to boost the generic drug industry.
According to this research study, the US off-patent drug market was US$171.8 billion in 2020.
Offers from generic drug manufacturers
On July 6, 2020, Endo announced that it had received FDA approval for Qwo (collagenase clostridium histolyticum-aaes). Another company, named Lupine Limited, manufactures the generic drug Abacavir & Lamivudine, the combination of which is used with other drugs to treat Human Immunodeficiency Virus (HIV) infection. The editor covered the initiatives of companies that sell various generic drugs in the United States.
Companies covered in the report are Teva Pharmaceutical Industries Ltd, Mylan NV, Sandoz Inc, Endo Pharmaceuticals, Lupine Limited, Dr Reddy’s and Sun pharma.
Main topics covered:
2. Executive Summary
3. Market dynamics
3.1 Engine of growth
4. Drug market in the United States
4.1 Branded Drugs Market
4.2 Generic Drugs Market
5. Generic drug economy in the United States
6. Market Share – Drug Analysis in United States
6.1 Branded drugs vs. generic drugs
6.2 Branded Generic Drug vs Non-Branded Generic Drug
6.3 Volume Penetration – Generic and Branded Drugs
6.4 Therapeutic application
7. Generic Drugs Market in United States
7.1 Branded Generic Drugs Market
7.2 Non-Branded Generic Drugs Market
8. Therapeutic Application – Generic Drugs Market in United States
8.1 Central Nervous System (CNS)
8.4 Genitourinary/hormonal drugs
9. Business Analysis
9.2 Product launch
9.3 Financial overview
- Teva Pharmaceutical Industries Ltd
- Mylan AG
- Sandoz inc.
- Endo Pharmaceuticals
- Lupine Limited
- at Dr. Reddy’s
- Solar pharmacy
For more information about this report visit https://www.researchandmarkets.com/r/o88uql