Press release
US Generic Drug Market Share, Size, Top Companies, Industry Insights, Opportunity and Forecast 2023-2028
Report Highlights:
How big is the US generic drug market?
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.
What are Generic Drugs?
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.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ ๐๐ญ ๐๐ง ๐ข๐๐๐ ๐จ๐ ๐จ๐ฎ๐ซ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: 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 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.
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:
โข Teva
โข Mylan
โข Actavis (Teva)
โข Sandoz (Novartis)
โข Sun Pharma
โข Par Pharmaceuticals (Endo Pharmaceuticals)
โข Lupin Pharmaceuticals
โข Dr Reddy's
โข 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:
โข Unbranded
โข Branded
Breakup by Therapy Area:
โข CNS
โข Cardiovascular
โข Dermatology
โข Genitourinary/Hormonal
โข Respiratory
โข Rheumatology
โข Diabetes
โข Oncology
โข Others
Breakup by Drug Delivery:
โข Oral
โข Injectables
โข Dermal/Topical
โข Inhalers
Breakup by Distribution Channel:
โข Hospital Pharmacies
โข Retail Pharmacies
๐๐ฌ๐ค ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐จ๐ซ ๐๐% ๐๐ซ๐๐ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.imarcgroup.com/request?type=report&id=567&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
๐๐ฏ๐ผ๐๐ ๐จ๐:
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.
๐๐ผ๐ป๐๐ฎ๐ฐ๐ ๐จ๐ฆ:
IMARC Group
134 N 4th St Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
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