BOSTON, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Generic Drug Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. To win the competition in the global marketplace, choosing this global Generic Drug market research report is imperative. Businesses can acquire knowledge about a complete background analysis of the industry which includes an assessment of the parental market. This Generic Drug market report takes into account different segments of the market analysis that today’s business insists. Clients get familiarity with a nice combination of best industry insight, practical solutions, talent solutions, and the latest technology while using this Generic Drug report for business growth. The market drivers and restraints have been explained here using SWOT analysis.
The global generic drug market was valued at USD 329.26 million in 2021 and is expected to reach USD 540.15 million by 2029, registering a CAGR of 6.0% during the forecast period of 2022-2029. The “bacterial” accounts for the largest pathogen segment in the generic drug market within the forecasted period owing to the rise in the bacterial generic drug cases and the rising prevalence of HAIs. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, and regulatory framework.
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Generic drug is bioequivalent to branded drugs in terms of strength, dose, quality, safety, performance, and efficacy, but they differ in other ways, such as the manufacturing technique used in drug development, excipients, and packaging. When the patents for current banded medications expire, generic pharmaceuticals become available. Rather than being connected with a specific manufacturer, generic drugs are basically subject to government restrictions in various nations.
Over the past few years, there has been increased patents expire on branded drugs. The Food and Drug Administration (FDA) is improving the market entrance procedure for generics, which will result in the increased amount of the generic medications within the market. As a result, the increased production of these drugs will further lead to the substantial expansion of the generic drug market.
Recent Developments
- In January 2020, Commercial and Pipeline Generic Products were purchased from Amerigen Pharmaceuticals, Ltd. for $52.5 million in cash by ANI Pharmaceuticals, Inc., a US-based integrated specialty pharmaceutical company focused on developing, manufacturing, and marketing high-quality branded and generic prescription pharmaceuticals. ANI Pharmaceuticals, Inc.'s commercial portfolio and late-stage generic pipeline have been significantly expanded as a result of this transaction. Amerigen Pharmaceuticals is a firm established in the United States that specialises in the research, production, and distribution of high-quality generic pharmaceutical goods.
Fundamental Aim of Generic Drug Market Report
In the Generic Drug Industry, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
- Major alterations to the Generic Drug Market in the near future.
- Notable Market rivals around the world.
- The Generic Drug Market's Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
- Sales data and profiles of the world's leading Generic Drug manufacturers
The Generic Drug Market is Dominated by Firms Such as
- Teva Pharmaceuticals Industries Ltd., (Israel),
- Mylan N.V., (U.S),
- Novartis AG, (Switzerland),
- Pfizer Inc., (U.S),
- Sun Pharmaceutical Industries Ltd., (India),
- Fresenius SE & Co. KGaA., (Germany),
- Lupin (India),
- Endo International plc., (Ireland),
- Aurobindo Pharma (India),
- Novartis AG (Germany),
- Hikma Pharmaceuticals PLC., (U.K)
- STADA Arzneimittel AG (Germany),
- Eli Lilly and Company (U.S) and
- Aspen Holdings (South Africa)
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Critical Insights Related to the Generic Drug Included in the Report:
- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
Key Market Segments Covered in Generic Drug Industry Research
By Type
- Simple Generics
- Super Generics
By Brand
By Indication
By Route of Administration
- Oral
- Topical
- Parenteral
By End-Users
- Hospitals
- Homecare
- Specialty Clinics
By Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Key Growth Drivers:
- Increasing Requirement of Generic Drugs
The surge of patent expiration of branded drugs is the most significant factor driving the growth for this market. Growing prevalence of chronic diseases, diabetes and cardiovascular diseases, are also expected to accelerate the overall growth of the market.
- Growing Investments and Advancements
The rising investments in extensive research and development activities and advances in the formulation such as fixed dose combination and cost-effective treatment are also projected to cushion the growth of the market. Moreover, the large numbers of licensing and partnering strategies to launch new products by key vendors are estimated to generate lucrative opportunities for the market. Recent government reimbursement programs have favored lower-cost options, which will further expand the generic drug market's growth rate in the future.
Furthermore, the expanding healthcare sector along with the growth in geriatric population are also expected to fuel market growth. Moreover, the increasing healthcare expenditure and the high demand for generic medicines also cushions the market’s growth within the forecasted period.
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Generic Drug Market Regional Analysis/Insights:
The countries covered in the generic drug market report are U.S., Canada and Mexico in North America, Peru, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
North America dominates the generic drug market because of the global leaders in research and development activities and established framework of approval process of generic drugs within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the developing healthcare facilities and rise in government initiatives within the region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Challenges:
- Effects Of Generic Drugs
Also, the adverse effects which are associated with drugs are projected to challenge the generic drug market in the forecast period of 2022-2029.
This generic drug market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the generic drug market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
- Patient Epidemiology Analysis
A generic medicine is one that has the same active component as a brand-name drug and produces the same therapeutic effect. It is used for various chronic diseases such as the diabetes and cardiovascular diseases. Cardiovascular diseases (CVDs) are the most common cause of mortality across the world. CVDs claimed the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all fatalities.
Generic drug market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analyzed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
- How will the major segments of this international market develop over the next few years?
- Who are the major players that will dominate the market in the future?
- When it comes to this industry, who are the top suppliers and producers?
- How have the most successful companies in the industry planned for future growth and expansion?
- In what sectors might we expect to see the greatest increase in demand over the coming years?
- How many distinct subsets of buyers make up this market?
- Which regional powerhouse do you foresee as becoming the largest player in the international market?
- Does a new coronavirus pandemic have any consequences?
- In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?
Table of Contents:
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