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United States Generic Drugs Market is projected USD 210 Billion by 2024
united-states-off-label-generic-drugs-market-forecast
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United States Generic Drugs Market is projected to exceed USD 210 Billion by 2024. United States Generic Drugs Market is so huge that nearly 80% of dispensing prescriptions accounts generic drugs. According to FDA in the United States 9 out of 10 prescriptions filled are for generic drugs. Most of the physicians and hospitals are now prescribing generic drugs than that of the brand-name drugs. Generic Drugs are those drugs which have same active component as patent drugs in same outline & equal amounts. Generic drugs are also called as Off-Label drugs.
The prime reason for the growth of United States Generic Drugs Market can be attributed to its pricing, on an average generic (Off-Label) drug is around 40-60% cheaper than those of Branded Drugs. However, this price of generic drug further declines, when various generic drug companies target a single approved drug, then market competition results in prices 85% less than the branded drugs. Also, increasing number of drug patent expirations, government initiatives and rising prevalence of chronic diseases are some other factors which are expected to propel the growth of United States Generic Drugs Market in the near future.
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Renub Research report titled “United States Generic Drugs Market, By Therapeutic Application [Central Nervous System (CNS), Cardiovascular, Dermatology, Genitourinary (GU)/Harmonal Drugs, Respiratory, Anti-infective, Oncology & Others], Companies (Teva, Mylan N.V., Sandoz, Endo Pharmaceuticals, Lupin Limited, Dr Reddy’s, Sun Pharma, & Others)” provides a complete analysis of US Generic Drugs Market.
Therapeutic Application – Oncology Generic Drug Market is likely to witness a Significant Growth during the Forecast Period
The report studies the market of the following Therapeutic Application segments: Central Nervous System (CNS), Cardiovascular, Dermatology, Genitourinary (GU) / Harmonal Drugs, Respiratory, Anti-infective, Oncology & Others. Central Nervous System (CNS), Cardiovascular, Respiratory and Oncology are some of the segments that will attract the attention of generic drugs market participants.
All companies in this report has been covered with following view points
1. Company Strategy
2. Sales
Companies Analysis
Teva, Mylan, Sandoz, Endo Pharmaceuticals, Lupin Limited, Dr Reddy’s, Sun Pharma are some of the top companies operating in the United States Generic Drug Market; which has been studied thoroughly in the report.
By Therapeutic Application:
• Central Nervous System (CNS)
• Cardiovascular
• Dermatology
• Genitourinary (GU)/Harmonal Drugs
• Respiratory
• Anti-infective
• Oncology
• Others
Key Companies Covered in the Report:
• Teva
• Mylan N.V.
• Sandoz
• Endo Pharmaceuticals
• Lupin Limited
• Dr Reddy’s
• Sun Pharma
• Others
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