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Generic Drugs Market Size, Share, Forecast and Industry Analysis to 2017-2023

02-11-2019 02:50 PM CET | Health & Medicine

Press release from: Allied Market Research

Generic Drugs Market

Generic Drugs Market

A generic drug is a drug that has the chemical composition of a drug that corresponds to a brand-name drug. These drugs are cheaper and less expensive than branded drugs in terms of dosage, strength, route of administration, quality, performance and application. General medicines are subject to government regulations in many countries, rather than specific companies.

The major factors that contribute to the growth of the generic drugs market include increasing prevalence of chronic diseases, diabetes & cardiovascular diseases, growth in geriatric population, increasing healthcare expenditure, high demand for generic medicines, and large number of patent expired branded drugs. However, stringent governmental regulations and adverse effects associated with drugs are expected to restrain the market development. The rising demand for newer versions of generic drugs, additional numbers of clinical trials, and large numbers of licensing & partnering strategies to launch new products by key vendors contributes to significant demand for generic drugs in the near future.

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The global generic drugs market is segmented on the basis of product type, application, distribution channel, and region. On the basis of product type, the market is segmented into simple generics, super generics, and biosimilars. Based on application the market is divided into cardiovascular products, anti-infective drugs, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. On the basis of distribution channel, the market is segmented into hospitals, pharmacies, private clinics, drug stores, retail pharmacies, and others. Geographically, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in this market include Abbott Laboratories, Teva Pharmaceutical Industries Ltd., ALLERGAN, Sandoz International GmbH, Mylan N.V., STADA Arzneimittel AG, Baxter International Inc., Eli Lilly and Company, GlaxoSmithKline Plc., and Pfizer Inc.

Key Benefits

• The study provides an in-depth analysis of the global generic drugs market with current trends and future estimations to elucidate imminent investment pockets.
• The report provides information about the current and upcoming trends in the global generic drugs market from 2016 to 2023, which helps determine prevailing opportunities.
• Comprehensive analysis of factors that drive and restrict the growth of the global generic drugs market has been provided.
• Identification of factors that are instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global and regional scale have been provided.
• Key market players within the market have been profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global generic drugs market.

Generic Drugs Market Key Segments:

By Product Type

• Simple Generics
• Super Generics
• Biosimilars

By Application

• Cardiovascular Products
• Anti-Infective Drugs
• Anti-Arthritis Drugs
• Central Nervous System Drugs
• Anti-Cancer Drug
• Respiratory Products
• Others

By Distribution Channel

• Hospitals
• Pharmacies
• Private Clinics
• Drug Stores
• Retail Pharmacies
• Others

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About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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