US Generic Drug Market to Hit US$ 110.7 Billion by 2028, with a CAGR of 4% - Exclusive Report by IMARC Group

According to IMARC Group's latest report, titled "𝐔𝐒 𝐆𝐞𝐧𝐞𝐫𝐢𝐜 𝐃𝐫𝐮𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖", The US generic drug market size reached US$ 86.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 110.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.

𝐘𝐞𝐚𝐫 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐞𝐝 𝐭𝐨 𝐄𝐬𝐭𝐢𝐦𝐚𝐭𝐞 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞:

𝐁𝐚𝐬𝐞 𝐘𝐞𝐚𝐫 𝐨𝐟 𝐭𝐡𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: 𝟐𝟎𝟐𝟐
𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐏𝐞𝐫𝐢𝐨𝐝: 𝟐𝟎𝟏𝟕-𝟐𝟎𝟐𝟐
𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐏𝐞𝐫𝐢𝐨𝐝: 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖

US Generic Drug Market Overview:

A generic drug refers to an off-patent medication that is similar to the original drug in terms of strength, dosage, form, quality, efficacy, side effects, route of administration, and intended use. Such similarities allow for demonstrating bioequivalence, which means that a generic medicine works in the same way and delivers the same clinical help as the original medicine.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐛𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.imarcgroup.com/us-generics-market/requestsample

US Generic Drug Market Trends:

The rapid rise in the production of generic drugs across the United States is driving the market growth. In line with this, these drugs are cheaper as compared to their original counterparts as they do not need extensive testing and research. Apart from this, the increase in the introduction of generic drugs has enhanced the access of patients to healthcare. This is further leading to growing competition among the market players, which is supporting the market growth. Moreover, initiatives for generic drug approvals by the United States Government with the implementation of the FDA's Drug Competition Action Plan are bolstering the market growth in the country. In addition, the increasing awareness about generic drugs is further expected to fuel the market growth. Furthermore, the rising prevalence of numerous life-threatening diseases is projected to influence the market growth during the forecast period.

𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐍𝐨𝐰: https://www.imarcgroup.com/checkout?id=567&method=7

US Generic Drug Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the US generic drug market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Teva
• Mylan
• Actavis (Teva)
• Sandoz (Novartis)
• Sun Pharma
• Par Pharmaceuticals (Endo Pharmaceuticals)
• Lupin Pharmaceuticals
• Dr Reddy's
• Hospira (Pfizer)

Key Market Segmentation:

The report has segmented the US generic drug market on the basis of segment, therapy area, drug delivery and distribution channel.

Breakup by Segment:

• Unbranded
• Branded

Breakup by Therapy Area:

• CNS
• Cardiovascular
• Dermatology
• Genitourinary/Hormonal
• Respiratory
• Rheumatology
• Diabetes
• Oncology
• Others

Breakup by Drug Delivery:

• Oral
• Injectables
• Dermal/Topical
• Inhalers

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝟏𝟎% 𝐟𝐫𝐞𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=567&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝗦:

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This release was published on openPR.