Generic Drugs Market to Witness High Growth in near future: Top leading Players are Ranbaxy Laboratories, Actavis, Mylan, Teva Pharmaceutical Industries, Dr. Reddy’s Laboratories, Sandoz International GmbH, Apotex, Par Pharmaceutical, Hospira, Watson Ph

Global Generic Drugs Market Size:

The global market for generic drugs should reach $533 billion by 2021 from $352 billion in 2016 at a compound annual growth rate (CAGR) of 8.7%, from 2016 to 2021.

Global Generic Drugs Market Overview:

As patents expire, pharmaceutical brand companies can hardly focus on extending the life cycle of products. Therefore, the generic market has developed and is expected to grow considerably, especially between 2012 and 2018. Generic drugs are drugs with the same chemical composition and performance characteristics like those of their variants. Unlike flagship or branded drugs, generic drugs are marketed under the name of their chemical titles without marketing.

The market report provides a holistic picture of the global generic drugs market. The market is evaluated in terms of different product segments, retail distribution channels, supply chain networks and consumer groups to provide strategic and specific business recommendations. The data and the revealing statistics presented in the report improve stakeholders' understanding of the dynamics of the existing market and how they are likely to affect their future action plan.

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Drivers and Restraints:

The cheap prices of generic drugs give added advantage over branded drugs in the market. Generic drugs are governed by the same framework as branded drugs. The generic market is based on the premise that patented drugs have a shelf life of 20 years beginning with the clinical trials phase. This reduces the commercial life of patented medicines to around 15 years. After the expiration of the patent, manufacturers of branded drugs face fierce competition from contemporary generics.

In addition, participants in the network of the supply chain of the industry, such as wholesalers, retailers, pharmacies and profit managers, also benefit from the sale of generic drugs, as they significantly increase their profit margin. This has become a key growth factor for the generic drug market.

As generic competition represents a significant threat to the branded drug industry, innovative companies have adopted stronger defense strategies than ever before to protect their market share and profits. However, this has not prevented the main players in the generic market advance in their plans to expand the market. By looking closely at the defensive strategies carried out by brand name pharmaceutical companies, the generic industry is not only armed to survive patent battles but is also adopting licensing and association strategies to launch new products. These factors should boost sales of generic drugs in the coming years.

Geographic Segmentation:

At the regional level, the global market has been classified in North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. In terms of consumption, North America has been one of the main regions in 2017. The generic drugs market can be segmented into biosimilars, simple generic, and super generic. Based on its therapeutics applications, the generic drugs market can be classified into cardiovascular products, anti-infective drugs, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. 

Key players operating in the market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Teva Pharmaceutical Industries, Ltd., Dr. Reddy’s Laboratories, Sandoz International GmbH, Apotex, Inc., Par Pharmaceutical, Inc., Hospira, Inc., Watson Pharmaceuticals, Ltd. and others.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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