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Global Generic Drug Market Projected to Reach USD 615.72 Billion by 2030, Growing at a 5.22% CAGR from 2024

08-15-2024 10:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: STELLAR MARKET RESEARCH

Global Generic Drug Market

Global Generic Drug Market

Anticipated Growth in Revenue:

Generic Drug Market size was valued at USD 431.15 Bn. in 2023 and the total Global Generic Drug Market revenue is expected to grow at a CAGR of 5.22% from 2024 to 2030, reaching nearly USD 615.72 Bn. in 2030.

Generic Drug Market Overview:

A generic drug is made to be identical to a brand-name drug in terms of dosage form, safety, strength, administration method, quality, performance qualities, and intended purpose. It also shares the same active component as a brand-name drug. This indicates that a generic medication functions and has the same therapeutic benefit as a name-brand medication. Usually offered at significant savings, generic medications are 80-85% less expensive than name-brand ones. The FDA thoroughly examines them to make sure they adhere to the same exacting requirements for manufacture and quality as the name-brand goods.

๐”๐ง๐ฅ๐จ๐œ๐ค ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐…๐ซ๐ž๐ž ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐จ๐Ÿ ๐Ž๐ฎ๐ซ ๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:https://www.stellarmr.com/report/Generic-Drug-Market/1638

What are Generic Drug Market Dynamics?

Rising Prevalence of Chronic Disease- The market for generic drugs is driven by the increasing incidence of chronic illnesses such as diabetes and cardiovascular disorders, as these drugs are more affordable than name-brand ones. Generic medications are becoming more and more appealing to patients and healthcare professionals alike as the patient base expands and the demand for cost-effective treatments increases. Also, Generic substitutes for name-brand medications become available once their patents expire, offering even more affordable treatment options. The move toward generic medications ensures that necessary treatments are easily accessible and reasonably priced, which lowers healthcare costs and enhances patient outcomes.

๐๐ž๐ž๐ ๐Œ๐จ๐ซ๐ž ๐ˆ๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐€๐›๐จ๐ฎ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž + ๐†๐ซ๐š๐ฉ๐ก๐ฌ ๐‡๐ž๐ซ๐ž:https://www.stellarmr.com/report/req_sample/Generic-Drug-Market/1638

What is Generic Drug Market Regional Insight?

Novartis AG (Sandoz International) - Novartis AG (Sandoz International) stated that it will invest over $500 million in new biosimilar capabilities in Germany and Slovenia. As part of its commitment to maintain its leadership in the worldwide market for biosimilars and generics, Sandoz is making this investment. Furthermore, Novartis declared its plan to split Sandoz into a completely autonomous business with a focus on biosimilars and generics. The spin-off was successfully completed in October 2023, with Sandoz shares included in key market indices.

What is Generic Drug Market Segmentation?

By Type

Simple Generics
Super Generics
Biosimilars
By Brand

Pure Generics
Branded Generics
By End-User

Hospitals
Homecare
Speciality Clinics
Others

๐…๐‘๐„๐„ ๐†๐ž๐ญ ๐š ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ! https://www.stellarmr.com/report/req_sample/Generic-Drug-Market/1638

Some of the current players in the Generic Drug Market are:

Teva Pharmaceutical Industries Ltd.
Novartis AG (Sandoz International)
Viatris
Sun Pharma
Fresenius Kabi
Aurobindo Pharma
Mylan N.V.
Pfizer Inc.
Sanofi
Novel Understanding
Fresenius SE & Co.
Lupin Limited
Endo Pharmaceuticals Inc.
Aspen Pharmacare Holdings Limited

Key Offerings:

Past Market Size and Competitive Landscape
Generic Drug Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Generic Drug Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

Explore our top-performing reports on the latest trends:

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Proteases Market https://www.stellarmr.com/report/Proteases-Market/1952

Dairy Packaging Market https://www.stellarmr.com/report/Dairy-Packaging-Market/1953

Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4 Kothrud
Pinnac Memories Fl. No. 3
Kothrud, Pune, Maharashtra, 411029
sales@stellarmr.com
+91 9607365656

About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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