Generic Drugs Market to Reach US$ 482.5 Billion Globally by 2027

IMARC Group’s latest research report, 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.

A generic drug is an off-patented drug that is identical to other branded medicines in terms of effect, form, dosage, intended use, quality, and safety. These drugs can be manufactured only after the patent expiration of the brand-name drug. As compared to other branded drugs, these are less expensive and do not require extensive research and testing. The global generic drugs market reached a value of US$ 320 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 482.5 Billion by 2027, exhibiting at a CAGR of 7% during 2022-2027.

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 COVID-19 Impact Overview:

 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.

Important Attribute and highlights of the Report:

• Detailed analysis of the global market share
• Market Segmentation by  therapy area, drug delivery and distribution channel.
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape for Generic Drugs Market
• Strategies of major players and product offerings

 The global market is primarily driven by the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease. Furthermore, the significant growth in the pharmaceutical industry has driven market growth across the globe. Apart from this, the rising 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. Moreover, the growth in the geriatric population has positively influenced the market growth. Additionally, the upcoming patent expiry of many brand-name drugs is expected to drive the market towards growth.

List of  Generic Drugs Manufacturers:

• 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
• Aspen Pharmacare Holdings Limited

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Key Market Segmentation:

Breakup by Therapy Area:

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

Breakup by Drug Delivery:

• Oral
• Injectables
• Dermal/Topical
• Inhalers

Breakup by Distribution Channel:

• Retail Pharmacies
• Hospital Pharmacies

Breakup by Region:

• North America (United States, 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, Other)

TOC for the Generic Drugs Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Generic Drugs Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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