Generic Pharmaceuticals Global Market Rising Trends, Industry Size, Share Report, Growing Demand and Business Opportunities And Forecast 2024-2033 | Novartis AG, Cipla Limited, Mylan Inc., AbbVie Inc., AstraZeneca

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Generic Pharmaceuticals Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $514.81 billion In 2028 At A CAGR Of 6.3% :

The generic pharmaceuticals market size has grown strongly in recent years. It will grow from $381 billion in 2023 to $402.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to rise in healthcare awareness and expenditure, patent expiration of drugs, increased prevalence of respiratory diseases, changes in lifestyles, increased number of surgical procedures, strong economic growth in emerging markets, increase in insurance coverage, rapid growth in elderly population, increased number of approvals..

The generic pharmaceuticals market size is expected to see strong growth in the next few years. It will grow to $514.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing rising incidence of chronic diseases, rising regulators support, new methods for drug discovery, new methods for drug delivery and monitoring, rise in healthcare expenditure, increasing geriatric population, and major drug patents. . Major trends in the forecast period include increasing use of 3d printing, adopting the use of artificial intelligence (ai), using biomarkers for drug development, collaborations for driving innovation, combination drug therapy, modification of existing epilepsy drugs, and rise of generic respiratory drugs..

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Generic Pharmaceuticals Market Major Segments
The generic pharmaceuticals market covered in this report is segmented -
1) By Type: Biosimilars, Generics
2) By Drug Delivery: Oral, Injectables, Dermal/Topical, Inhaled
3) By Therapy: CNS, Cardiovascular, Dermatology, Genitourinary/Harmonal, Respiratory, Rheumatology, Diabetes, Oncology, Biosimilars, Others
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, And Online Pharmacies

Key Driver - Rising Incidence Of Chronic Diseases Driving The Generic Pharmaceuticals Market

The rising incidence of chronic diseases is one of the major drivers of the generic pharmaceuticals market. As more individuals are diagnosed with chronic diseases, they look for more medicines for treatment. Branded drugs come at a premium price, while generic drugs are available at a lower cost and have the same chemical composition as branded drugs. The low cost and same chemical composition and strength of generic drugs make a patient buy generic drugs instead of branded drugs. If it is a chronic disease, the treatment goes on for a longer period, and hence, the sales of generic drugs also increase. For instance, according to the WHO (World Health Organization), over the next 10 years, the number of deaths due to chronic disease is projected to increase by 17%.

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Prominent Trend - Revolutionizing Generic Pharmaceuticals Manufacturing With 3D Printing Technology

3D printing technology can transform the manufacturing of drugs in the generic pharmaceuticals market. 3D printed pharmaceuticals help improve R&D productivity and deliver new benefits to patients. 3D printing allows the manufacturer to produce drugs with customised size, shape, and texture, which is not possible in traditional manufacturing of generic drugs. 3D printing can help the manufacturer to make generic drugs that have different release dates, appearances, and tastes. For example, GlaxoSmithKline (GSK) completed a study where ultraviolet (UV) and 3D printing were used to manufacture tablets to treat Parkinson's disease. Martin Wallace, director of GSK Technology, said that GSK is investing in 3D printing to manufacture pills and tablets. Also, Aprecia pharmaceutical company launched 'ZipDose' technology, which manufactures 3D printed drugs.

Generic Pharmaceuticals Market Players
Major companies operating in the generic pharmaceuticals market report are Teva Pharmaceutical Industries Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Fresenius Kabi, Aurobindo Pharma Limited, Cipla Limited, Stada Arzneimittel AG, Lupin Pharmaceuticals, Inc., Dr. Reddy's Laboratories, Mylan Inc., Shanghai Generic Pharmaceuticals, Shanghai Acebright Generic Pharmaceuticals Group Co., Ltd., Sandoz, Glenmark, Kent Pharma, GlaxoSmithKline (GSK), Zentiva, Sanofi, Merck & Co., Apotex, Pfizer, Gilead Sciences, Roche, Bayer, AbbVie Inc., AstraZeneca, Amgen, Abbott Laboratories, Janssen Pharmaceutica, Accord Healthcare Inc., Acerus Pharmaceutical Drugs Corporation, AA Pharma Inc, Sanfer, LABORATORIOS SENOSIAIN SA DE CV (Senosiain), Siegfried Rhein, Johnson and Johnson, Bristol Myers Squibb, Eli Lilly & Company, Biogen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Boehringer Ingelheim, Mantecorp Farmasa, Libbs, Cimed, FQM Grupo, Spimaco, Jamjoom Pharma, Tabuk Pharmaceutical Manufacturing, Jazeera Pharmaceutical Industries, Adcock Ingram, Eurolab, Ranbaxy (Pty) Ltd, Aspen

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Largest And Fastest Growing Region In The Market
North America was the largest region in the generic pharmaceuticals market in 2023. Middle East is expected to be the fastest-growing region in the generic pharmaceuticals market report during the forecast period. The regions covered in the generic pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Generic Pharmaceuticals Market Report Structure
3. Generic Pharmaceuticals Market Trends And Strategies
4. Generic Pharmaceuticals Market - Macro Economic Scenario
5. Generic Pharmaceuticals Market Size And Growth
…..
27. Generic Pharmaceuticals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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