The latest research report from the IMARC group, titled “Generic Drugs Market: 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 drug market reached a value of US$320 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$482.5 billion by 2027exposing to a CAGR of 7% during 2022-2027. A generic drug is an off-patent drug that is identical to other brand name drugs in terms of effect, form, dosage, intended use, quality, and safety. These drugs can only be manufactured after the brand name drug’s patent has expired. Compared to other branded drugs, these are cheaper and do not require extensive research and testing.
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Important Attribute and Report Highlights:
- Detailed Global Market Share Analysis
- Market segmentation by therapeutic area, drug delivery and distribution channel.
- Historical, current and projected market size in terms of volume and value
- Latest industry trends and developments
- Competitive landscape for the generic drugs market
- Strategies of key players and product offerings
Global generic drug industry trends:
The global market is mainly driven by the increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease and Parkinson’s disease. Additionally, significant growth in the pharmaceutical industry has boosted the growth of the market across the globe. Apart from this, increased 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. Additionally, the growing geriatric population has positively influenced the growth of the market. Additionally, the upcoming patent expiration of many branded drugs is expected to drive the market towards growth.
Main generic drug companies in the world:
- Teva Pharmaceuticals Industries Ltd.
- Mylan AG
- Novartis AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Fresenius SE & Co.
- Lupine Limited
- Endo Pharmaceuticals Inc.
- Aurobindo Pharma Limited
- Aspen Pharmacare Holdings Limited
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Overview of the impact of COVID-19:
We regularly monitor the direct effect of COVID-19[feminine] in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Key Market Segmentation:
Breakdown by therapeutic area:
- Central nervous system
Rupture by administration of drugs:
Breakdown by distribution channel:
- Retail pharmacies
- Hospital pharmacies
Breakdown by region:
- North America (USA, 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, Others)
Table of Contents of Generic Drugs Market Research Report:
- Scope and methodology
- Global Generic Drugs Market
- SWOT analysis
- Value chain analysis
- Price analysis
- Competitive landscape
Who we are:
The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.
IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.
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