Press release
Generic Drug Market Size to Boost USD 795.68 Billion By 2032 | CAGR 8.4% Published by Emergen Research
Generic Drug Market
The generic drug market plays a pivotal role in the global pharmaceutical industry, offering affordable alternatives to brand-name medications. Generic drugs are bioequivalent versions of brand-name drugs that have the same active ingredients, strength, dosage form, and route of administration but are sold at a significantly lower price once the original patents expire. This makes them crucial in expanding access to healthcare, particularly in low- and middle-income countries. The global generic drug market has experienced robust growth due to factors such as the rising prevalence of chronic diseases, increasing healthcare expenditures, and a growing aging population.
The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/2820
Drivers of the Generic Drug Market :
Several factors are driving the growth of the generic drug market. One of the primary drivers is the increasing number of patent expirations for blockbuster drugs. As patents for many major drugs expire, opportunities arise for generic manufacturers to produce cheaper alternatives. This has led to a surge in the availability of generic versions of high-cost medications, benefiting both healthcare systems and patients.
Another significant driver is the growing burden of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, which require long-term medication. The affordability of generic drugs ensures that a broader population can access necessary treatments without incurring exorbitant costs, fueling the market's expansion. Additionally, the rising elderly population, who are more prone to chronic conditions, further increases the demand for affordable medications.
Restraints of the Generic Drug Market :
Despite its significant growth, the generic drug market faces several challenges. One of the major restraints is the intense competition among generic drug manufacturers, which leads to price erosion. As more companies enter the market and produce the same generic versions, the prices drop further, reducing profit margins for manufacturers. This has led to consolidation in the industry as companies seek to maintain profitability through mergers and acquisitions. Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/2820
Growth Factors of the Generic Drug Market :
Despite the challenges, the generic drug market has several growth factors that are likely to propel it forward. One of the key growth factors is the increasing focus on biosimilars, which are generic versions of biologic drugs. As the patents for several high-revenue biologics expire, the opportunity for biosimilar development is growing. Biosimilars offer significant cost savings and are expected to drive the next phase of growth in the generic drug market.
The report also discusses the key players involved in the market such as:
Mylan N.V., Abbott., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, GSK plc, Baxter., Pfizer Inc., Sandoz Group AG, and Novartis AG
The report provides a thorough estimation of the overall impact of the pandemic on the Generic Drug Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Generic Drug Market
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/2820
Generic Drug Market Segment Analysis :
For the purpose of this report, Emergen Research has segmented the global generic drug market on the basis of manufacturer type, route of administration, application, distribution channel, and region:
Manufacturer Type outlook (Revenue, USD Billion; 2019-2032)
Pure Generic drug
Branded Generic drug
Route of administration Outlook (Revenue, USD Billion; 2019-2032)
Oral
Parentral
Topical
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Infectious Disease
Cardiovascular Disease (CVD)
Dermatology
Oncology
Respiratory
Arthritis
Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
Hospital Pharmacies
Retail Pharmacies
Online Providers
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa
Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/generic-drug-market
Explore More of this reports @
Generic Drug Market Size @ https://www.emergenresearch.com/industry-report/generic-drug-market/market-size
Generic Drug Market Share @ https://www.emergenresearch.com/industry-report/generic-drug-market/market-share
Generic Drug Market Trends @ https://www.emergenresearch.com/industry-report/generic-drug-market/market-trends
Generic Drug Regional Market Demand @ https://www.emergenresearch.com/industry-report/generic-drug-market/regional-market-demand
Generic Drug Market Analysis @ https://www.emergenresearch.com/industry-report/generic-drug-market/market-analysis
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Visit for More Insights: https://www.emergenresearch.com/insights
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Generic Drug Market Size to Boost USD 795.68 Billion By 2032 | CAGR 8.4% Published by Emergen Research here
News-ID: 3683493 • Views: …
More Releases from Emergen Research
Global Internet of Things (IoT) in Healthcare Market to Reach USD 299.05 Billion …
The global Internet of Things (IoT) in Healthcare Market was valued at USD 299.05 billion in 2023 and is expected to grow at a CAGR of 16.5% during the forecast period. This growth is fueled by the rising use of connected healthcare devices, increasing demand for early disease detection through remote monitoring, and growing adoption of artificial intelligence (AI) tools within IoT-based healthcare systems.
The market is also benefiting from the…
Global Stem Cell Therapy Market to Reach USD 49.2 Billion by 2034, Growing at 13 …
The global Stem Cell Therapy Market, valued at USD 13.7 billion in 2024, is projected to reach USD 49.2 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.6%. Growth is being fueled by the rising burden of chronic diseases, rapid progress in cell-based studies, and increasing investments in regenerative medicine and personalized healthcare solutions.
Stem cell therapies offer the ability to repair, replace, or restore damaged tissues…
Artificial Intelligence Strengthens Cybersecurity as Threats Grow More Sophistic …
The global Artificial Intelligence in cybersecurity market size was USD 23.8 Billion in 2023 and is expected to reach a market valuation of USD 29.44 billion by the end of 2024 registering a CAGR of 23.7% during the forecast period. The adoption of Artificial Intelligence (AI) in cybersecurity is rapidly gaining traction as organizations worldwide face increasingly complex and frequent cyber threats. By combining advanced technologies such as Machine Learning…
Global Regenerative Medicine Market to Reach USD 125.6 Billion by 2034, Growing …
The global regenerative medicine market, valued at USD 34.2 billion in 2024, is set to grow to USD 125.6 billion by 2034, expanding at a compound annual growth rate (CAGR) of 13.9%. Growth is being fueled by rising approvals of advanced therapies, strong demand for personalized treatments in cancer and orthopedics, and expanding cell and gene therapy manufacturing across major markets such as North America, Europe, and Asia.
Once seen as…
More Releases for Generic
Prominent Generic Oncology Drugs Market Trend for 2025: Novel Formulations Trans …
Which drivers are expected to have the greatest impact on the over the generic oncology drugs market's growth?
The upward trend in cancer incidence is predicted to fuel the expansion of the generic oncology drugs market. Cancer, characterized by unregulated cell proliferation affecting numerous organs, results in considerable morbidity and mortality globally. The provision of affordable generic oncology drugs is an instrumental factor in cancer care, expanding access to vital treatments,…
Generic Theater Presents Flyin' West
NORFOLK, VA (August 2023) - Generic Theater inaugurates its 43rd season with Flyin' West, written by award-winning playwright and New York Times bestselling author Pearl Cleage. Terrance Afer-Anderson directs this production, running weekends September 8th - October 1st at Generic Theater, Norfolk's underground theater located in the basement of Chrysler Hall.
Following the end of the Civil War, many former slaves took advantage of The Homestead Act and went West to…
Generic Injectables Market growth is attributed to the increasing demand for Onc …
According to Precision Business Insights (PBI), the latest report, the generic injectables market will be worth USD 22.0 billion in 2022, growing at an 11.0% CAGR from 2022 to 2028. The global generic injectables market is segmented into the following types: Product Type (Monoclonal Antibodies, Cytokines, Insulin, Peptide Hormones, Blood Factors, Immunoglobulins, Peptide Antibiotics, Vaccines, and Others), Indication (Diabetes, Cancer, Cardiovascular Diseases, Musculoskeletal, CNS, Infections, and Others), Distribution Channel (Hospital…
A Demand On Generic Drugs Market And The Need To Push The Market Of Generic Drug …
Global Generic Drugs Market
A generic drug is pharmaceutical drug, which is bio-equivalent to a branded drug in all forms such as route of administration, strength, dosage, quality, intended use and performance. Generic drugs are usually approved after patent expiration of patent drugs. Generic drugs are safe, effective and FDA approved. The global market is filled with 44% of generic drugs.
The global generic drugs market is driven by the rise of…
Generic Drug Market: Global Generic Drug Share to Reach USD 380.60 Billion by 20 …
Zion Market Research has published a new report titled “Generic Drug Market by Brand (Pure Generic and Branded Generic) for Central Nervous System (CNS), Cardiovascular, Dermatology, Oncology, Respiratory and Others Therapeutic Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, the global generic drug market accounted for around USD 200.20 billion in 2015 and is expected to reach approximately USD 380.60 billion by…
Generic Drugs: Global Collaboration Opportunities
Collaboration is the key to growth
With the recent economic turmoil affecting many markets around the world, the generic and branded sectors face similar problems.
At one time the generic sector was seen as a valuable way to bring effective products to a wider audience. This, allied to the rising cost of new advanced branded products, led to rapid expansion of the generics sector. Even markets traditionally based in the provision of…
