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Global Generic Drug Market – Industry Trends and Forecast to 2029

  • Pharmaceutical
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Generic Drug Market, By Type (Simple Generics, Super Generics), Brand (Pure Generic, Branded Generic), Indication (Central Nervous System (CNS), Cardiovascular, Dermatology, Oncology, Respiratory Others), Route of Administration (Oral, Topical, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029

Generic Drug Market

Market Analysis and Size

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.

  • 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.

Market Definition

Generic drug are 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.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Type (Simple Generics, Super Generics), Brand (Pure Generic, Branded Generic), Indication (Central Nervous System (CNS), Cardiovascular, Dermatology, Oncology, Respiratory Others), Route of Administration (Oral, Topical, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)

Countries Covered

U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa

Market Players Covered

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)

 

Generic Drug Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

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.

Restraints/Challenges

  • Stringent Governmental Regulations

On the other hand, these drugs basically require approval due to the stringent governmental regulations, which is expected to obstruct market growth.

  • 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.

Post Covid-19 Impact on Generic Drug Market

The generic drug market was largely impacted by the outbreak of COVID-19. In the beginning, owing to the various social distancing restrictions nearly every industry experienced supply chain disruptions in the wake of the COVID-19 pandemic, and the pharmaceutical sector is no exception due to which the generic drug market was affected negatively. Later, the market saw a rise in demand for generic pharmaceuticals, as the COVID-19 illness has created numerous chances for generic drug producers to manufacture medications for the treatment of this infection. United States Food and Drug Administration (FDA) has developed a Generic Drug Program, which aided generic drug makers with product development by sending written messages and having meetings early in the development process and during application review to clarify regulatory expectations. In 2020, the FDA received 121 requests for product development meetings and pre-submission pre-Abbreviated New Drug Application meetings. Thus, the continuous manufacturing, product development and approval operations will result to the growth of market within forecasted period and also in the long run.

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.

Global Generic Drug Market Scope

The generic drug market is segmented on the basis of type, brand, indication, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Simple Generics
  • Super Generics

On the basis of type, the generic drug market is segmented into simple generics and super generics.

Brand

  • Pure Generic
  • Branded Generic

On the basis of brand, the generic drug market is segmented into pure generic and branded generic.

Indication

  • Central Nervous System (CNS)
  • Cardiovascular
  • Dermatology
  • Oncology
  • Respiratory
  • Others

On the basis of indication, the generic drug market is segmented into central nervous system (CNS), cardiovascular, dermatology, oncology, respiratory and others.

Route of Administration

  • Oral
  • Topical
  • Parenteral
  • Others

On the basis of route of administration, the generic drug market is segmented into oral, topical, parenteral and others.

End-Users

  • Hospitals
  • Homecare
  • Specialty Clinics
  • Others

On the basis of end-users, the generic drug market is segmented into hospitals, homecare, specialty clinics and others.

Distribution Channel

  • Hospital Pharmacy
  • Online Pharmacy
  • Retail Pharmacy

On the basis of distribution channel, the generic drug market is bifurcated into hospital pharmacy, online pharmacy and retail pharmacy.

Generic Drug Market Regional Analysis/Insights

The generic drug market is analyzed and market size insights and trends are provided by country, type, brand, indication, route of administration, end-users and distribution channel as referenced above.

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 down-stream 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.   

Competitive Landscape and Generic Drug Market Share Analysis

The generic drug market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to generic drug market.

Some of the major players operating in the generic drug market are 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) among others.

Research Methodology : Global Generic Drug Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available : Global Generic Drug Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The Generic Drug Market is Estimated to show Grow at a Value of USD 540.15 Million in 2029.
The Global Generic Drug Market is Estimated to Register a CAGR of 6.0% within the Forecast Period of 2022-2029.
The factor such as growing prevalence of chronic diseases, surge of patent expiration of branded drugs and extensive research and development activities are the major drivers for the Generic Drug Market.
The Major Companies Operating in the Generic Drug Market are Teva Pharmaceuticals Industries Ltd., (Israel), Mylan N.V., (U.S), Novartis AG, (Switzerland), Pfizer Inc., (U.S), and Sun Pharmaceutical Industries Ltd., (India).
The Countries Covered within the Global 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).