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Generic Drug MARKET 2020-2025: INDUSTRY ANALYSIS, GROWTH, DEMAND, REPORT AND BUSINESS OPPORTUNITIES

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Generic Drug MARKET 2020-2025: INDUSTRY ANALYSIS, GROWTH, DEMAND, REPORT AND BUSINESS OPPORTUNITIES

July 03
21:36 2020
Generic Drug MARKET 2020-2025: INDUSTRY ANALYSIS, GROWTH, DEMAND, REPORT AND BUSINESS OPPORTUNITIES

generic drugs market
Generic drugs are bioequivalent of brand-name drugs in terms of safety, strength, quality, dosage form, stability, impact, intended use and the route of administration. These drugs are proven to be as safe and effective as their already marketed brand-name formulation.

According to the latest report by IMARC Group, titled “Generic Drug Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global generic drug market size reached US$ 367 Billion in 2019, registering a CAGR of 5.7% during 2014-2019. Generic drugs are bioequivalent of brand-name drugs in terms of safety, strength, quality, dosage form, stability, impact, intended use and the route of administration. These drugs are proven to be as safe and effective as their already marketed brand-name formulation. Although certain characteristics, such as color, shape and flavoring, that do not affect the safety and effectiveness of the medicines can differ from the original version, generic variants are prepared from the same active ingredients as their branded counterparts while working in the same manner and amount of time. Generic drug manufacturers do not have to invest in marketing, drug research or drug development, which makes these medicines cost-effective, thus contributing to their widespread preference.

Request Free Sample Report: https://www.imarcgroup.com/generic-drug-manufacturing-plant/requestsample

Global Generic Drugs Market Trends:

The global market is primarily driven by a significant increase in cardiometabolic risk factors among the masses. In line with this, there is an increasing prevalence of hypertension, diabetes, dyslipidemia, metabolic syndrome and obesity, owing to the confluence of various factors, including sedentary lifestyles, changing dietary patterns and hectic working schedules. This has contributed to a significant increase in the uptake of medicines, thereby facilitating the growth of the market. In addition to this, the high costs associated with the medication of several chronic and lifestyle diseases have increased the consumer inclination toward affordable variants, which is boosting the demand for generic drugs. Moreover, the patent expiration of key blockbuster drugs, coupled with numerous favorable initiatives undertaken by the governments of various countries to promote the use of generic drugs, is expected to provide a thrust to the market growth. Several regulatory bodies are conducting rigorous reviews to ensure optimal standards during the manufacturing of these drugs.  On account of the aforementioned factors, the market is anticipated to reach a value of US$ 497 Billion by 2025, growing at a CAGR of 5.2% during 2020-2025.

Market Breakup by Segment/Therapy Area:

  • Central Nervous System
  • Dermatology
  • Genitourinary/Hormonal
  • Respiratory
  • Rheumatology
  • Diabetes
  • Oncology
  • others

Based on the therapy area, cardiovascular diseases represent the largest segment.

Market Breakup by Drug Delivery Classified:

  • Oral
  • Injectables
  • Dermal/Topical
  • Inhalers

At present, oral generic drugs account for the majority of the total market share.

Market Breakup by Distribution Channel:

  • Retail Pharmacies
  • Hospital Pharmacies

Wherein Retail Pharmacies exhibit a clear dominance in the market.

Market Summary:

On the geographical front, the United States holds the leading position in the market. Some of the other major regions include China, Brazil, Germany, France, India, the United Kingdom, Japan, Canada and Italy.

The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market. Some of the leading players include:

  • Teva Pharmaceuticals Industries Ltd.
  • Mylan N.V.
  • Novartis International AG
  • Pfizer Inc.
  • Sun Pharmaceutical Industries Limited
  • Fresenius SE & Co. KGaA
  • Lupin Limited
  • Endo Pharmaceuticals Inc.
  • Aurobindo Pharma Limited
  • Aspen Pharmacare Holdings Limited.

Ask Analyst for instant Discount and Download Full Report with TOC & List of Figure click “global generic drug marketsize reached US$ 367 Billion in 2019, registering a CAGR of 5.7% during 2014-2019” link.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want to need latest primary and secondary data (2020-2025) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Other Report by IMARC Group:

Canada Generic drug Market Report 2020-2025: https://bit.ly/2YwtdYO

Pain Management Drugs Market 2020-2025: http://bit.ly/2KKTUDF

Depression Drugs Market 2020-2025: http://bit.ly/2zl9Ncd

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.

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