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Global Generic Drugs Market: Poised for USD 615.72 Billion Milestone by 2030 at 5.22% CAGR

01-13-2025 06:00 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Generic Drugs Market

Generic Drugs Market

๐†๐ฅ๐จ๐›๐š๐ฅ ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐€ ๐๐ซ๐จ๐ฆ๐ข๐ฌ๐ข๐ง๐  ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐“๐ซ๐š๐ฃ๐ž๐œ๐ญ๐จ๐ซ๐ฒ ๐ฐ๐ข๐ญ๐ก ๐Š๐ž๐ฒ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

The Global Generic Drugs Market was valued at USD 439.37 billion in 2023 and is projected to grow at a CAGR of 6.2% from 2024 to 2030, reaching an estimated value of USD 669.58 billion by the end of the forecast period. This growth is driven by increasing demand for cost-effective medications, regulatory support for generics, and an aging global population.

๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

The generic drugs market has witnessed several transformative developments, including mergers, acquisitions, and collaborations among leading pharmaceutical companies. These strategies aim to enhance market presence, broaden product portfolios, and foster innovation. Key players like ๐“๐ž๐ฏ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ, ๐Œ๐ฒ๐ฅ๐š๐ง ๐.๐•., ๐’๐ฎ๐ง ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ, ๐š๐ง๐ ๐ƒ๐ซ. ๐‘๐ž๐๐๐ฒ'๐ฌ ๐‹๐š๐›๐จ๐ซ๐š๐ญ๐จ๐ซ๐ข๐ž๐ฌ are leading the way in reshaping the competitive landscape.

๐‚๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ: ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐ญ๐ก๐ž

Vietnam's generic drugs market is poised for significant growth, driven by government initiatives to promote affordable healthcare. The country's pharmaceutical sector saw several mergers and partnerships, such as๐ƒ๐‡๐† ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ ๐‰๐’๐‚ ๐œ๐จ๐ฅ๐ฅ๐š๐›๐จ๐ซ๐š๐ญ๐ข๐ง๐  ๐ฐ๐ข๐ญ๐ก ๐“๐š๐ข๐ฌ๐ก๐จ ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ to enhance manufacturing capabilities. Increased healthcare spending and demand for chronic disease treatments further fuel the market.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐ก๐ข๐ง๐š: ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž

China dominates the generic drugs market in Asia, driven by its vast population and government policies supporting the development of generics. Recent consolidations, such as ๐’๐ก๐š๐ง๐ ๐ก๐š๐ข ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ acquiring ๐‚๐š๐ซ๐๐ข๐ง๐š๐ฅ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐‚๐ก๐ข๐ง๐š underscore the sector's growth trajectory. Additionally, the "4+7 bulk procurement policy" has encouraged domestic manufacturers to scale up production and meet the growing demand for affordable medications.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐: ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐ญ๐ก๐ž

Thailand's generic drugs market has experienced steady growth, supported by its Universal Health Coverage scheme. Partnerships like that between ๐๐š๐ง๐ ๐ค๐จ๐ค ๐ƒ๐ฎ๐ฌ๐ข๐ญ ๐Œ๐ž๐๐ข๐œ๐š๐ฅ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž๐ฌ ๐š๐ง๐ ๐๐ข๐ซ๐š๐ฆ๐š๐ฅ ๐๐ก๐š๐ซ๐ฆ๐š ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ highlight efforts to expand the availability of cost-effective drugs. The market's focus on generic biologics and biosimilars is expected to drive future growth.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‰๐š๐ฉ๐š๐ง: ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Japan's aging population and rising healthcare costs have spurred demand for generics. Companies like ๐’๐š๐ฐ๐š๐ข ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ ๐š๐ง๐ ๐“๐จ๐ฐ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ are expanding their portfolios through acquisitions. The government's policy to increase generic drug penetration to 80% by 2025 further solidifies Japan's market potential.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š: ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ

South Korea's robust R&D infrastructure supports its growing generic drugs market. Collaborations, such as ๐‚๐ž๐ฅ๐ฅ๐ญ๐ซ๐ข๐จ๐ง ๐ฉ๐š๐ซ๐ญ๐ง๐ž๐ซ๐ข๐ง๐  ๐ฐ๐ข๐ญ๐ก ๐“๐ž๐ฏ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ underscore the country's leadership in biosimilar production. The market benefits from government incentives aimed at reducing reliance on branded drugs.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž: ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐Ÿ๐จ๐ซ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง

Singapore's strategic location and advanced healthcare infrastructure make it a hub for generic drug manufacturing and distribution. Recent investments by Pfizer and Novartis in production facilities showcase the country's potential. The government's focus on healthcare affordability continues to drive demand for generics.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ: ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐š๐ง๐ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž

The U.S. remains a key player in the global generics market, with companies like ๐Œ๐ฒ๐ฅ๐š๐ง ๐š๐ง๐ ๐“๐ž๐ฏ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ leading the charge. Recent mergers, including Viatris (formed by Mylan and Pfizer's Upjohn), have reshaped the competitive landscape. The FDA's expedited approval process for generics bolsters market growth.

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐„๐ฎ๐ซ๐จ๐ฉ๐ž: ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Europe's generic drugs market is characterized by strong regulatory support and a focus on biosimilars. Key developments include Sandoz (a division of Novartis) acquiring biopharmaceutical assets to strengthen its position. Countries like Germany, France, and the UK lead in adopting generics, driven by healthcare cost-containment measures.

๐‹๐จ๐จ๐ค๐ข๐ง๐  ๐Ÿ๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐จ๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐ง๐จ๐ฐ : https://www.maximizemarketresearch.com/request-sample/32316/

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐ค๐ž๐ฒ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐Ÿ ๐ญ๐ก๐ž ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ

Simple Generics
Super Generics
Biosimilars

The global generic drug industry is divided into three segments based on the product: biosimilars, super generics, and simple generics. In 2023, the Super Generics category had the biggest market share, with about 38%. Super generic medications are referred to as value enhanced generics, hybrids, and unique therapeutic entities. Super generic products are not the same as the original product in terms of composition or distribution method. Although biosimilars can only be as comparable to the original branded drug as validation technology allows, they have the same clinical impact as generics. As biosimilar developers concentrate on increasingly complicated proteins that require more expensive and advanced production processes, they will be pressured to follow established methods for demonstrating a high degree of similarity.

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Cardiovascular Products
Anti-Infective Drugs
Anti-Arthritis Drugs
Central Nervous System Drugs
Anti-Cancer Drug
Respiratory Products
Others

Cardiovascular Products, Anti-Infective Drugs, Anti-Arthritis Drugs, Central Nervous System Drugs, Anti-Cancer Drugs, Respiratory Products, and Others are the sub-segments of the worldwide generic drug market based on application. In 2023, the biggest market share was held by the Central Nervous System Drugs sector. Access to better healthcare options, societal acceptance of people with mental illnesses, and growing knowledge of mental health issues are some of the key factors predicted to propel market expansion. During the forecast period, cost-effective and readily available pharmaceuticals are likely to drive generic drug market growth.

๐›๐ฒ ๐ƒ๐ข๐ฌ๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐ข๐จ๐ง ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ

Hospitals
Pharmacies
Private Clinics
Drug Stores
Retail Pharmacies
Others

One of the leading causes of death worldwide is cardiovascular disease, which includes heart failure, circulation problems, hypertension, cholesterol, dyslipidemia, angina, arrhythmias, and stroke. The cardiovascular category now makes up over 5% of the global generic medication market as a result of multiple cardiovascular medicine patents expiring. The aging demographics and expanding global population are helping the generic drug industry as well as the larger healthcare sector.

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐๐š๐ญ๐š ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ฏ๐ข๐ž๐ฐ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž : @https://www.maximizemarketresearch.com/market-report/global-green-mining-market/32316/

๐‹๐ž๐š๐ซ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ž ๐ญ๐จ๐ฉ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ข๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

North America Generic Drugs Market Top Players:

1. Mylan N.V. - (USA)
2. Par Pharmaceuticals- (USA)
3. Pfizer - (USA)
4. Baxter International Inc. - (USA)
5. Eli Lilly and Company - (USA)
6. Abbott Laboratories - (USA)
7. Apotex Inc. - (Canada)
8. Apotex Corp. - (USA)

Europe Generic Drugs Market Top Players

1. Endo Pharmaceuticals - (Ireland)
2. Teva Pharmaceutical Industries Ltd- (Israel)
3. STADA Arzneimittel AG - (Germany)
4. GlaxoSmithKline Plc. - (United Kingdom)
5. Novartis International AG - (Switzerland)

APAC Generic Drugs Market Top Players:

1. Sun Pharma - (India)
2. Lupin Pharmaceuticals - (India)
3. Dr Reddy's - (India)
4. ASKA Pharmaceutical Co., Ltd. - (Japan)
5. Taisho Pharmaceutical Holdings Co Ltd - (Japan)
6. Aurobindo Pharma Limited - (India)
7. Hikma Pharmaceuticals PLC - (Jordan)
8. Torrent Pharmaceuticals Ltd - (India)

๐†๐ž๐ญ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ฌ ๐ญ๐จ ๐œ๐ซ๐ข๐ญ๐ข๐œ๐š๐ฅ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐ก๐š๐ฉ๐ข๐ง๐  ๐ญ๐ก๐ž ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ :

What is Generic Drugs ?
What is the growth rate of the Generic Drugs Market?
Which are the factors expected to drive the Generic Drugs market growth?
What is the CAGR at which the Generic Drugs market will grow during the forecast period?
What are the different segments of the Generic Drugs Market?
Which is the fastest growing region in the Generic Drugs market?
What growth strategies are the players considering to increase their presence in Generic Drugs ?
What are the upcoming opportunities and trends for the Generic Drugs Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Generic Drugs Market?
Who are the leading companies and what are their portfolios in Generic Drugs Market?
What segments are covered in the Generic Drugs Market?
Who are the key players in the Generic Drugs market?

๐†๐š๐ข๐ง ๐š๐œ๐œ๐ž๐ฌ๐ฌ ๐ญ๐จ ๐ฏ๐š๐ฅ๐ฎ๐š๐›๐ฅ๐ž ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/request-sample/32316/

๐†๐ž๐ญ ๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ซ ๐ฅ๐จ๐จ๐ค ๐š๐ญ ๐ญ๐ก๐ž ๐ ๐š๐ฆ๐ž-๐œ๐ก๐š๐ง๐ ๐ข๐ง๐  ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ.

Past Size and Competitive Landscape
โ€ข Past Pricing and price curve by region
โ€ข Size, Share, Size Forecast by different segment
โ€ข Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
โ€ข Segmentation A detailed analysis by segment with their sub-segments and Region
โ€ข Competitive Landscape Profiles of selected key players by region from a strategic perspective

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐Ÿ๐ญ๐ฌ :

โ™ฆ global Chatbots Market https://www.maximizemarketresearch.com/market-report/global-chatbots-market-key-trends/7204/

โ™ฆ global Dietary Supplements Market https://www.maximizemarketresearch.com/market-report/global-dietary-supplements-market/26277/

โ™ฆ Infant Formula Market https://www.maximizemarketresearch.com/market-report/infant-formula-market/124801/

โ™ฆ Industrial Hemp Market https://www.maximizemarketresearch.com/market-report/global-industrial-hemp-market/33440/

โ™ฆ Global Gaming Market https://www.maximizemarketresearch.com/market-report/global-gaming-market/44697/

โ™ฆ US Artificial Intelligence (AI) Market https://www.maximizemarketresearch.com/market-report/us-artificial-intelligence-ai-market/11352/

โ™ฆ Microcrystalline Cellulose Market https://www.maximizemarketresearch.com/market-report/microcrystalline-cellulose-market/13475/

โ™ฆ Global Agricultural Micronutrients Market https://www.maximizemarketresearch.com/market-report/global-agricultural-micronutrients-market/50434/

โ™ฆ Global Automatic Train Control Market https://www.maximizemarketresearch.com/market-report/global-automatic-train-control-market/29767/

โ™ฆ Geospatial Solutions Market https://www.maximizemarketresearch.com/market-report/global-geospatial-solutions-market/61529/

๐‘๐ž๐š๐œ๐ก ๐Ž๐ฎ๐ญ ๐ญ๐จ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐จ๐ซ ๐ˆ๐ง-๐ƒ๐ž๐ฉ๐ญ๐ก ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐š๐ง๐ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ :

MAXIMIZE MARKET RESEARCH PVT. LTD.
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