According to the latest report by IMARC Group, titled “Generic Drugs Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″, The global generic drugs market reached a value of US$ 386 Billion in 2020. Looking forward, the market value is projected to reach US$ 517 Billion by 2026, expanding at a CAGR of 4.9% during 2021-2026.
Generic drugs are identical to branded drugs in terms of safety, dosage, form, strength, quality, performance, characteristics, and route of administration. They have the same active ingredients, offer an equivalent therapeutic effect and are proven safe as the branded drug. They are also cost-effective as manufacturers do not have to invest in research and development (R&D) and marketing activities. At present, generic drugs are gaining immense popularity across the world.
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.
Request for a free sample copy of this report: https://www.imarcgroup.com/generic-drug-manufacturing-plant/requestsample
Global Generic Drugs Market Trends:
The rising prevalence of chronic diseases, such as dyslipidemia, diabetes, hypertension, and metabolic syndrome, on account of sedentary lifestyles, hectic work schedules and changing dietary patterns, have increased the uptake of medicines across the world. This represents one of the primary factors facilitating the global generic drugs market growth. Additionally, the rising patent expiration of branded drugs, in confluence with increasing initiatives by governing authorities, is encouraging key manufacturers to introduce effective generic drugs, which, in turn, is significantly contributing to the market growth. For instance, seven hospitals and three philanthropies in the United States launched a generic drug company named Civica Rx in 2018 to address the shortage of drugs and the high cost of essential medication, producing fourteen short-supply, FDA-approved drugs.
Global Generic Drugs Market 2021-2026 Analysis and Segmentation:
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been examined, with some key players being 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 and Aspen Pharmacare Holdings Limited.
Breakup by Therapy Area:
- Central Nervous System
- Cardiovascular
- Dermatology
- Genitourinary/Hormonal
- Respiratory
- Rheumatology
- Diabetes
- Oncology
- Others
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, cardiovascular diseases hold the largest market share.
Breakup by Drug Delivery:
- Oral
- Injectables
- Dermal/Topical
- Inhalers
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 total market share.
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
Based on the distribution channel, the market is bifurcated into retail and hospital pharmacies. Retail pharmacies currently dominate the market as most of the generic drugs are over the counter (OTC) medicines.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
- Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
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.
Contact US
IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
