Global Generic Drugs Market; By Product Type (Simple Generics, Super Generics, And Biosimilars); By Route Of Administration (Oral, Topical, Injectable, And Others); By Application (Cardiovascular Products, Anti-Infective Drugs, Central Nervous System Drugs, Anti-Cancer Drugs, Respiratory Products, And Others); By Distribution Channel (Hospitals/Clinics, Retail Pharmacies, And Online Pharmacies); By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2018-2028 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Generic Drugs market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Generic Drugs market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Generic Drugs Market to Reach USD 745 Billion by 2028
The global generic drugs market is growing with the increasing prevalence of health issues, increasing investment in R&D, growth of biopharma industry, and growing demand for low-cost medicines from poor and middle-income countries
A study, recently conducted by the strategic consulting and market research firmReport Ocean, revealed that the global generic drugs was valued at USD 405 billion in 2021and is forecast to cross USD 745 billion by 2028. The global generic drugs market is growing due to the increasing prevalence of health issues around the globe, increasing investment in R&D, and surging demand for low-cost medicines from poor and middle-income countries. Additionally, growing healthcare expenditures and increasing health awareness among the current generation are driving the global generic drugs market.
Rise in chronic and non-chronic diseases is propelling the growth of the global generic drugs market
Globally, chronic and non-chronic diseases are growing at an alarming rate and generic drugs are helping to control the number of deaths due to these health issues. As per the WHOs estimation, 42% of children less than five years of age and 40% of pregnant women worldwide are anemic. According to the International Agency for Research on Cancer, there were almost 19.3 million new cases of cancer in 2020 with around 10 million cancer-related deaths. The agency further estimated that the global cancer cases would increase by 28.4 million by 2040. Furthermore, according to the WHO, non-chronic diseases are responsible for around 70% of deaths around the world every year.
People are increasingly choosing generic drugs over branded medications due to the cost-effectiveness of generic drugs that have the same potency and effectiveness. This shift in trend has fueled the demand for generic drugs in the market and contributed to the growth of the market during the historic period. In addition, generic drugs are seen as a suitable alternative to branded drugs due to easier manufacturing and easier regulations. This factor, coupled with the increasing demand for generic drugs, is expected to drive the growth of the global generic drugs market during the forecast period.
Injectable Segment Dominates the Global Generic Drugs Market
Based on the route of administration, the global generic drugs market is grouped into topical, oral, injectable, and others. During the forecast period, the injectable segment is expected to grow owing to the growing number of injectable drugs in the market. Additionally, the emergence of the biopharma industry and the growing number of generic vaccines in the market are expected to propel the growth of the injectable segment during the forecast period.
Impact of COVID-19
COVID-19 severely affected all industries around the world; however, only a few industries were affected as severely as the pharmaceutical industry. Increasing coronavirus cases around the world led to a surge in demand for generic and branded drugs. Moreover, during the pandemic, people turned to generic drugs because of the high cost of branded drugs. Furthermore, the FDA provided USD 20 million for science and research programs of generic drugs in the United States. Due to the emergence of the Omicron variant of the Coronavirus and the upcoming launch of a generic version of the COVID-19 vaccine, the demand for generic drugs is predicted to increase significantly over the next few years.
Global Generic Drugs Market: Regional insights
Based on regions, the global photovoltaic rapid shutdown device market is classified into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The North American market dominated in 2021 owing to the high number of generic AIDS and cancer drugs on the market. The high cost of healthcare in the region has further encouraged people to go for generic drugs rather than branded drugs due to the cost-effective nature of generic drugs. Additionally, the growing number of health issues and the presence of global leaders have supported the growth of the global generic drugs market in the region.
The leading players in the global generic drugs market are Teva Pharmaceutical Industries, Fresenius Kabi, and Sandoz, a Novartis Divison. Other major players operating in the market are Mylan N.V., Sanofi S.A., Sun Pharmaceutical Industries Limited, Mallinckrodt Pharmaceuticals, Stada Arzneimittel AG, Aurobindo Pharma Limited, Endo International plc., Aspen Pharmacare Holdings Limited, Dr. Reddy’s Laboratories, Cipla Limited, Hikma Pharmaceuticals plc., Piramal Pharma Solutions, LUPIN Limited, Sawai Pharmaceutical Co. Ltd., Amneal Pharmaceuticals, Inc., Glenmark Pharmaceuticals Limited, Torrent Pharmaceuticals Ltd., and other prominent players.
The global generic drugs market is fragmented market with a number of major players operating in the market. There is fierce competition between the new companies and the established companies in the market for market share. Collaboration, merger & acquisitions, partnerships, and the launch of new projects are some of the strategies used by players in the generic drugs market to gain an advantage over their competitors.
Recent Developments
In January 2022, Alembic Pharmaceuticals Limited received FDA approval for its Abbreviated New Drug Application (ANDA) for Doxycycline Hyclate Delayed-Release Tablets USP, 75 mg, 100 mg, 150 mg, and 200 mg. The company further announced that the approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Doryx Tablets, 75 mg, 100 mg, 150 mg, and 200 mg, of Mayne Pharma International Pty. Ltd. (Mayne).
In January 2022, the Philippines FDA approved worlds first generic version of Pfizers anti-coronavirus pill, Paxlovid. The approval from the Philippines FDA has come just days after it received emergency use authorization from the United States FDA. The generic version of Paxlovid has been developed by Beximco Pharmaceutical, a leading generic drug manufacturer from Bangladesh.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global generic drugs market size & forecast. The report promises to provide recent technology trends of global generic drugs market and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges and competitive dynamics of the market.
Our market research provides vital intelligence on market size, business trends, industry structure, market share, and market forecasts that are essential to developing business plans and strategy.
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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Each study, more than 100+ pages, is packed with tables, charts and insightful narrative including coverage on: Report Ocean provides complete tailor-made market reports that deliver vital market information on industry. Our market reports include: Market Sizing and Structuring, Micro and macro analysis, Regional dynamics and Operational landscape, Demographic profiling and Addressable market, Legal Set-up and Regulatory frameworks, Profitability and Cost analysis, Segmentation analysis of Market, Existing marketing strategies in the market, Best practice, GAP analysis, Competitive landscape, Leading market players, Benchmarking, Future market trends and opportunities – Scenario modeling
Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis Our team will be able to provide clear answers, identify key opportunities, new investments, and recommend high quality strategy routes in the market. These answers will include a holistic analysis of the: Existing market infrastructures, Market challenges and opportunities, Potential for growth in certain industries in the coming years, End-consumer target groups and their potential volumes of operation, Best regions and segments to target , Pros and cons of various promotion models, Touch points and an opportunity breakdown within the value chain, Market size and growth rate during forecast period., Key factors driving the Market., Key market trends cracking up the growth of the Market., Challenges to market growth., Key vendors of Market., Detailed SWOT analysis., Opportunities and threats faces by the existing vendors in Global Market., Trending factors influencing the market in the geographical regions., Strategic initiatives focusing the leading vendors., PEST analysis of the market in the five major regions.
The market factors described in this report are:
Key Strategic Developments in the Market:
The research includes the key strategic developments of the market, comprising R&D, M&A, agreements, new product launch, collaborations, partnerships, joint ventures, and regional growth of the key competitors functioning in the market on a global and regional scale.
Key Market Features in Global Market:
The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition to that, the study provides a comprehensive analysis of the key market factors and their latest trends, along with relevant market segments and sub-segments.
Analytical Market Highlights & Approach
The report provides the rigorously studied and evaluated data of the top industry players and their scope in the market by means of several analytical tools. The analytical tools such as Porters five forces analysis, feasibility study, SWOT analysis, and ROI analysis have been practiced reviewing the growth of the key players operating in the market.
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Key Points Covered in Generic Drugs Market Report:
| Global Generic Drugs Market Research Report |
| Section 1: Global Generic Drugs Industry Overview |
| Section 2: Global Economic Impact on Generic Drugs Industry |
| Section 3: Global Market Competition by Industry Producers |
| Section 4: Global Productions, Revenue (Value), according to Regions |
| Section 5: Global Supplies (Production), Consumption, Export, Import, geographically |
| Section 6: Global Productions, Revenue (Value), Price Trend, Product Type |
| Section 7: Global Market Analysis, on the basis of Application |
| Section 8: Generic Drugs Market Pricing Analysis |
| Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers |
| Section 10: Strategies and key policies by Distributors/Suppliers/Traders |
| Section 11: Key Marketing Strategy Analysis, by Market Vendors |
| Section 12: Market Effect Factors Analysis |
| Section 13: Global Generic Drugs Market Forecast |
……..and view more in complete table of Contents
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