Global Generic Drugs Market Growth (Status and Outlook) 2024-2030
Generic Drugs market expands from US$306.65 billion in 2023 to US$546.69 billion by 2030, with an 8.6% CAGR, due to increasing demand in the downstream market.
According to Publisher’s latest study, the global Generic Drugs market size was valued at US$ 306650 million in 2023. With growing demand in downstream market, the Generic Drugs is forecast to a readjusted size of US$ 546690 million by 2030 with a CAGR of 8.6% during review period.
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The research report highlights the growth potential of the global Generic Drugs market. Generic Drugs are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Generic Drugs. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Generic Drugs market.
A generic drug is a pharmaceutical drug that is equivalent to a brand-name product in dosage, strength, route of administration, quality, performance, and intended use. The term may also refer to any drug marketed under its chemical name without advertising, or to the chemical makeup of a drug rather than the brand name under which the drug is sold.
Market competition is not intense. Teva, Novartis – Sandoz, Mylan, Sun Pharmaceutical and Aspen are the leaders of the industry, with about 19% market shares.
North America is the largest consumption place, with a consumption market share nearly 44%. Following North America, Europe is the second largest consumption place with the consumption market share of 18%.
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Manmayi Raval
Research Consultant
Key Features:
The report on Generic Drugs market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Generic Drugs market. It may include historical data, market segmentation by Type (e.g., Oral, Injection), and regional breakdowns.
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Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Generic Drugs market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Generic Drugs market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Generic Drugs industry. This include advancements in Generic Drugs technology, Generic Drugs new entrants, Generic Drugs new investment, and other innovations that are shaping the future of Generic Drugs.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Generic Drugs market. It includes factors influencing customer ' purchasing decisions, preferences for Generic Drugs product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Generic Drugs market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Generic Drugs market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Generic Drugs market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Generic Drugs industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Generic Drugs market.
Market Segmentation:
Generic Drugs market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by Type:
a. Oral: Oral generic drugs are administered through the mouth and are absorbed through the gastrointestinal tract. They include tablets, capsules, syrups, and solutions. Oral administration is convenient and commonly used for chronic conditions where long-term medication is required.
b. Injection: Injectable generic drugs are administered directly into the body through various routes such as intravenous (IV), intramuscular (IM), or subcutaneous (SC) injections. They offer rapid and precise drug delivery and are often used for critical or acute conditions where immediate effect is required.
c. Other: This segment includes alternative methods of drug administration, such as inhalation (e.g., inhalers for respiratory conditions), topical application (e.g., creams, ointments, gels), transdermal patches, and other specialized routes.
Segmentation by Application:
a. Hospital Pharmacy: Hospital pharmacies play a crucial role in providing generic drugs within hospital settings. They ensure the availability, safety, and appropriate use of medications for inpatients, outpatients, and healthcare professionals. Hospital pharmacies often manage complex medication regimens and may include specialized units like oncology pharmacies or clinical trial pharmacies.
b. Retail Pharmacy: Retail pharmacies are accessible to the general public and are a common source of generic drugs for individuals with prescriptions. They include chain pharmacies, independent pharmacies, and online pharmacies. Retail pharmacies provide counseling, medication dispensing, and medication management services to patients.
c. Other: This category encompasses applications not covered by hospital or retail pharmacies. It could include specialized pharmacies catering to specific patient populations (e.g., geriatric pharmacies, pediatric pharmacies), clinics providing medication services, long-term care facilities, and other healthcare settings.
Segmentation by Region:
a. North America: The North American region, including the United States and Canada, represents a significant market for generic drugs. Factors such as a well-established healthcare infrastructure, high adoption of generic medications, and a large patient population contribute to the growth of the market in this region.
b. APAC (Asia-Pacific): The Asia-Pacific region, including countries like China, India, Japan, South Korea, and Australia, has a rapidly growing generic drugs market. Factors such as a large population, increasing healthcare expenditure, rising prevalence of chronic diseases, and government initiatives promoting generic drug use contribute to the market's growth in this region.
c. Europe: Europe has a well-developed market for generic drugs, with countries in the European Union (EU) being major contributors. Factors such as government policies encouraging generic drug use, a strong regulatory framework, and cost containment initiatives drive the market's growth in this region.
d. Middle East & Africa: The Middle East and Africa region, including countries like Saudi Arabia, UAE, South Africa, and Nigeria, has a growing market for generic drugs. Factors such as increasing healthcare infrastructure development, rising demand for affordable medications, and a growing focus on reducing healthcare costs contribute to the market's expansion in this region.
Key developments
1. India's Dr. Reddy's Laboratories: Expanding its portfolio of generic drugs, particularly in the United States market.
2. USA's Teva Pharmaceutical Industries: Introducing new generic drug formulations to address healthcare affordability.
3. China's Hengrui Medicine: Increasing investments in research and development of generic drugs for global markets.
4. Israel's Mylan: Launching generic versions of essential medications to improve access to healthcare worldwide.
Key Players
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Teva
Novartis
Viatris
Sun Pharmaceutical
Aspen Pharmacare
Fresenius Kabi
Sanofi
Aurobindo
Lupin
Dr. Reddy's
Apotex
Cipla
ENDO
Stada Arzneimittel
Bausch Health
Hikma
Torrent
Glenmark
Piramal Pharma
Sawai Pharmaceutical
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Generic Drugs Market Size 2019-2030
2.1.2 Generic Drugs Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Generic Drugs Segment by Type
2.2.1 Oral
2.2.2 Injection
2.2.3 Other
2.3 Generic Drugs Market Size by Type
2.3.1 Generic Drugs Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Generic Drugs Market Size Market Share by Type (2019-2024)
2.4 Generic Drugs Segment by Application
2.4.1 Hospital Pharmacy
2.4.2 Retail Pharmacy
2.4.3 Other
2.5 Generic Drugs Market Size by Application
2.5.1 Generic Drugs Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Generic Drugs Market Size Market Share by Application (2019-2024)
3 Generic Drugs Market Size by Player
3.1 Generic Drugs Market Size Market Share by Players
3.1.1 Global Generic Drugs Revenue by Players (2019-2024)
3.1.2 Global Generic Drugs Revenue Market Share by Players (2019-2024)
3.2 Global Generic Drugs Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Generic Drugs by Regions
4.1 Generic Drugs Market Size by Regions (2019-2024)
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