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Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) — The “Generic Drugs – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Generic Drugs Market to Reach $671.5 Billion by 2030
The global market for Generic Drugs estimated at US$403.9 Billion in the year 2022, is projected to reach a revised size of US$671.5 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2022-2030.
Small-Molecule Generics, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$538.8 Billion by the end of the analysis period. Growth in the Biosimilars segment is estimated at 19.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $122.8 Billion, While China is Forecast to Grow at 8.2% CAGR
The Generic Drugs market in the U.S. is estimated at US$122.8 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$126.8 Billion by the year 2030 trailing a CAGR of 8.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 5.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
MARKET OVERVIEW
- Impact of Covid-19 and Global Economic Update
- COVID-19 Impact on Global Pharmaceutical Supply Chain and Generic Drugs Market
- Demand for Generic Pain Killers Rises
- A Prelude to Generic Drugs
- Generic Drugs Market Set for a Rapid Growth
- North America and Europe Dominate, Asia-Pacific to Exhibit the Fastest Growth
- India- A Significant Market
- Small-molecule Generic Drugs Account for a Lion’s Share, Biosimilars Exhibit Fastest Growth
- Exciting Times for Biosimilars
- Competition
- Generic Drugs – Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Market Opportunities
- Strategies to Sustain Success
- The Future of Generics & Biosimilars Look Bright amid Persistent Barriers
- Market Challenges
- Factors Affecting Prices & Accessibility
- Recent Market Activity
- BRANDS
MARKET TRENDS & DRIVERS
- Generic Drugs Enjoy Adrenaline Rush with Regulatory & Scientific Support
- R&D & Innovation Push
- Efforts to Eliminate Barriers to Generics Development
- Regulatory & Scientific Collaboration as Key
- FDA’s Generic Drug User Free Program
- Policy Support to Generic Drugs: Clearing Road to Affordable Access to Quality Medicines
- Savings in Billions
- Taking GDUFA to Next Level
- Pushing Competition through ANDAs
- Major Push to COVID-19 Drugs
- Patent Expiries Set to Widen the Addressable Market for Generic Drugs
- Patent Expiries of Select Drugs in 2020
- Patent Expiries of Select Drugs in 2021
- Patent Expiries of Select Drugs in 2022
- Patent Expiries of Select Drugs in 2023
- Patent Expiry of Select Major Drugs in the US: 2020-2023
- Robust Demand for Pharmaceutical Drugs Drives Demand for Generic Drugs
- Cost Containment Measures Put Focus on Generics
- Small Molecule Generics Represent the Dominant Segment
- Specialty Generic Drugs Gain Popularity
- Specialty Generics – The Way to Success Amid Challenges
- Factors that can Provide Competitive Edge
- Increasing Demand for Biosimilars, Driven by Patent Expiry of Major Biopharmaceutical Drugs
- Patent Expiries of Major Biopharmaceutical Drugs in the US and Europe in the Recent Past
- Progressive Regulatory Framework Accelerates Product Approvals & Subsequently Market Revenues
- Specific Guidelines for Biosimilars in Various Countries with Year of Publication
- Biosimilars Regulatory Agencies in Select Regional Markets
- Biosimilar Approvals in the US (as of 2023)
- Biosimilar Approvals in Europe (as of 2023)
- Rising Healthcare Costs Drive Demand for Generic Drugs
- World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
- Aging Population to Propel the Demand for Generic Drugs
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Significant Increase in Number of Patients Suffering from Chronic Diseases Fuel Demand for Generic Medicines
- Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
- Fatalities by Heart Conditions – Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
- Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
- Number of New Cancer Cases and Deaths (in Million) by Region for 2018
- US Regulators Struggle to Keep Up with the Global Market
- Increased Dependency on Non-US Manufacturers
- Patient Trust and Traceability
- Drug Supply Shortage Risks
- Fixing a Broken System
- Hospitals Teaming Up to Develop Own Generic Drugs to Combat Shortages and High Prices
- Use of Artificial Intelligence and Machine Learning in Pharmaceutical Manufacturing Witnesses a Surge
FOCUS ON SELECT PLAYERS(Total 255 Featured)
- Abbott Laboratories
- Apotex Inc.
- ASKA Pharmaceutical Co., Ltd.
- Aspen Pharmacare Holdings Limited
- AstraZeneca Plc
- Baxter International Inc.
- Dr. Reddy’s Laboratories Limited`
- Eli Lilly and Company
- Endo International plc
- F. Hoffmann-La Roche AG
- Fresenius Kabi AG
- GSK plc
- H. Lundbeck A/S
- Incepta Pharmaceuticals Ltd.
- Lupin Ltd.
- Novo Nordisk A/S
- Sandoz International GmbH
- Sanofi-Aventis U.S. LLC
- STADA Arzneimittel AG
- Sun Pharmaceutical Industries Limited
- Teva Pharmaceutical Industries Ltd.
- Viatris Inc.
For more information about this report visit https://www.researchandmarkets.com/r/djak8z
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