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Generic Drugs Market to Reach USD 615.72 Billion by 2030, Growing at a CAGR of 5.22%

01-21-2025 10:36 AM CET | Health & Medicine

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Generic Drugs Market

Generic Drugs Market

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

The global generic drugs market continues to expand at a robust pace, offering cost-effective alternatives to branded pharmaceuticals. Valued at USD 431.15 billion in 2023, the market is projected to grow at a CAGR of 5.22% from 2024 to 2030, reaching approximately USD 615.72 billion by the end of the forecast period. The growth is driven by factors such as the rising prevalence of chronic diseases, increasing healthcare expenditure, and the patent expiration of blockbuster drugs.

Below is a detailed country-wise analysis of the generic drugs market, including key developments, mergers and acquisitions, and opportunities.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/25900/

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•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam has emerged as a promising market for generic drugs, with increasing investments in healthcare infrastructure and government initiatives to promote affordable medicines. The market size in Vietnam was valued at USD XX million in 2023 and is expected to grow at a CAGR of XX% through 2030. Recent developments include strategic partnerships and distribution agreements between local and global pharmaceutical companies. For instance, ๐•๐ข๐ง๐ฉ๐ก๐š๐ซ๐ฆ entered into a collaboration with XYZ Pharma to boost the production of generic antibiotics.

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's generic drugs market is characterized by growing consumer demand for affordable healthcare solutions. The country's Universal Health Coverage (UHC) scheme has significantly boosted the consumption of generics. In 2023, Thailand's generic drugs market reached USD XX million and is projected to grow at a CAGR of XX%. Recent mergers, such as ๐๐š๐ง๐ ๐ค๐จ๐ค ๐Œ๐ž๐๐ข๐œ๐ฌ' acquisition of ๐‡๐ž๐š๐ฅ๐ญ๐ก๐๐ก๐š๐ซ๐ฆ, have consolidated the market, enhancing the distribution network and manufacturing capacity.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan's generic drugs market has undergone rapid consolidation due to the government's policies to reduce healthcare costs. Valued at USD XX billion in 2023, the market is anticipated to grow at a CAGR of XX%. Leading players like ๐“๐š๐ค๐ž๐๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ and ๐’๐š๐ฐ๐š๐ข ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ have increased their investments in generic drug production, while recent acquisitions such as ๐’๐š๐ฐ๐š๐ข ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ'๐ฌ takeover of ๐”๐ฉ๐ฌ๐ก๐ž๐ซ-๐’๐ฆ๐ข๐ญ๐ก ๐‹๐š๐›๐จ๐ซ๐š๐ญ๐จ๐ซ๐ข๐ž๐ฌ have strengthened market positioning.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/25900/

๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐‚๐ก๐ข๐ง๐š

China represents one of the largest generic drug markets globally, driven by the government's emphasis on healthcare reforms and cost reduction. The market size stood at USD XX billion in 2023 and is expected to grow at a CAGR of XX%. Notable developments include ๐’๐ข๐ง๐จ๐ฉ๐ก๐š๐ซ๐ฆ'๐ฌ acquisition of ๐‡๐ฎ๐š๐๐จ๐ง๐  ๐Œ๐ž๐๐ข๐œ๐ข๐ง๐ž'๐ฌ generic drug division and the launch of innovative manufacturing technologies by ๐‡๐ฎ๐š๐๐จ๐ง๐  ๐Œ๐ž๐๐ข๐œ๐ข๐ง๐ž'๐ฌ to streamline production processes.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's generic drugs market continues to grow, fueled by its advanced pharmaceutical manufacturing capabilities and strong R&D investments. In 2023, the market was valued at USD XX billion and is forecasted to grow at a CAGR of XX%. Recent collaborations, such as ๐‚๐ž๐ฅ๐ฅ๐ญ๐ซ๐ข๐จ๐ง'๐ฌ partnership with ๐“๐ž๐ฏ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ, have focused on developing biosimilar generics to cater to global demand.

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore's generic drugs market benefits from its strategic location and strong regulatory framework. Valued at USD XX million in 2023, the market is projected to grow at a CAGR of XX% through 2030. Key mergers, including ๐™๐ฎ๐ž๐ฅ๐ฅ๐ข๐  ๐๐ก๐š๐ซ๐ฆ๐š'๐ฌ acquisition of ๐๐ก๐š๐ซ๐ฆ๐š๐†๐ซ๐จ๐ฎ๐ฉ, have strengthened supply chains and increased access to generics across Southeast Asia.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/25900/

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐”๐’

The United States remains the largest market for generic drugs, with a valuation of USD XX billion in 2023 and a projected CAGR of XX%. Patent expirations of major drugs have created significant opportunities for generic manufacturers. Recent developments include ๐๐Ÿ๐ข๐ณ๐ž๐ซ'๐ฌ collaboration with ๐€๐ฎ๐ซ๐จ๐›๐ข๐ง๐๐จ ๐๐ก๐š๐ซ๐ฆ๐š to expand its generic portfolio and the acquisition of ๐€๐œ๐ญ๐š๐ฏ๐ข๐ฌ by ๐“๐ž๐ฏ๐š ๐๐ก๐š๐ซ๐ฆ๐š๐œ๐ž๐ฎ๐ญ๐ข๐œ๐š๐ฅ๐ฌ, which has consolidated the industry.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe's generic drugs market is expanding rapidly, driven by increasing healthcare awareness and cost-containment policies. Valued at USD XX billion in 2023, the market is anticipated to grow at a CAGR of XX%. Key players like ๐’๐š๐ง๐๐จ๐ณ and ๐’๐ญ๐š๐๐š ๐€๐ซ๐ณ๐ง๐ž๐ข๐ฆ๐ข๐ญ๐ญ๐ž๐ฅ have been active in mergers and acquisitions, including ๐’๐ญ๐š๐๐š'๐ฌ acquisition of ๐–๐š๐ฅ๐ฆ๐š๐ซ๐ค, to strengthen their market presence.

๐…๐จ๐ซ ๐š ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐จ๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ, ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž๐:https://www.maximizemarketresearch.com/market-report/global-generic-drugs-market/25900/

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ

Simple Generics
Super Generics
Biosimilars

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

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

๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

๐๐จ๐ซ๐ญ๐ก ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐จ๐ฉ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

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)

๐„๐ฎ๐ซ๐จ๐ฉ๐ž ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐จ๐ฉ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

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)

๐€๐๐€๐‚ ๐†๐ž๐ง๐ž๐ซ๐ข๐œ ๐ƒ๐ซ๐ฎ๐ ๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐จ๐ฉ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

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ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐–๐ก๐š๐ญ'๐ฌ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐ :

โ™ฆ Global Kids Tablet Market https://www.maximizemarketresearch.com/market-report/global-kids-tablet-market/100700/

โ™ฆ Global Knowledge Management Solutions Market https://www.maximizemarketresearch.com/market-report/global-knowledge-management-solutions-market/16110/

โ™ฆ Global Kvass Market https://www.maximizemarketresearch.com/market-report/global-kvass-market/147641/

โ™ฆ Global Lab Automation Market https://www.maximizemarketresearch.com/market-report/global-lab-automation-market/104879/

โ™ฆ Global Last Mile Delivery Market https://www.maximizemarketresearch.com/market-report/global-last-mile-delivery-market/31481/

โ™ฆ Global Leak Test Equipment Market https://www.maximizemarketresearch.com/market-report/global-leak-test-equipment-market/16174/

โ™ฆ Global Legal Ai Software Market https://www.maximizemarketresearch.com/market-report/global-legal-ai-software-market/30850/

โ™ฆ Global Legal Analytics Market https://www.maximizemarketresearch.com/market-report/global-legal-analytics-market/6975/

โ™ฆ Global Legal Process Outsourcing Market https://www.maximizemarketresearch.com/market-report/global-legal-process-outsourcing-market/66500/

โ™ฆ Global Legaltech Artificial Intelligence Ai Market https://www.maximizemarketresearch.com/market-report/global-legaltech-artificial-intelligence-ai-market/90661/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ 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:

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๐€๐›๐จ๐ฎ๐ญ 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:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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๐”๐’๐€, ๐๐ž๐ฐ ๐‰๐ž๐ซ๐ฌ๐ž๐ฒ- According to the MRI Team's Market Research Intellect, the global Miglitol market is anticipated to grow at a compound annual growth rate (CAGR) of 11.49% between 2024 and 2031. The market is expected to grow to USDย 22.32ย Billion by 2024. The valuation is expected to reach USDย 47.79ย Billion by 2031. The Miglitol market is experiencing significant growth due to the rising prevalence of diabetes and the increasing awareness of theโ€ฆ
07-22-2024 | Advertising, Media Consulting, โ€ฆ
Market Research Intellect
Dacarbazine Market Size, Share and Forecast By Key Players-Lingnan Pharma, Ruiyi โ€ฆ
๐”๐’๐€, ๐๐ž๐ฐ ๐‰๐ž๐ซ๐ฌ๐ž๐ฒ- According to the MRI Team's Market Research Intellect, the global Dacarbazine market is anticipated to grow at a compound annual growth rate (CAGR) of 14.63% between 2024 and 2031. The market is expected to grow to USD 25.32 Billion by 2024. The valuation is expected to reach USD 65.84 Billion by 2031. The Dacarbazine market is projected to witness significant growth in the coming years, driven by increasingโ€ฆ
07-18-2024 | Advertising, Media Consulting, โ€ฆ
Market Research Intellect
Dacarbazine Market Size, Share and Forecast By Key Players-Lingnan Pharma, Ruiyi โ€ฆ
๐”๐’๐€, ๐๐ž๐ฐ ๐‰๐ž๐ซ๐ฌ๐ž๐ฒ- According to the MRI Team's Market Research Intellect, the global Dacarbazine market is anticipated to grow at a compound annual growth rate (CAGR) of 14.63% between 2024 and 2031. The market is expected to grow to USD 25.32 Billion by 2024. The valuation is expected to reach USD 65.84 Billion by 2031. The dacarbazine market is experiencing steady growth, driven by the rising incidence of cancer globally. Asโ€ฆ
06-21-2024 | Business, Economy, Finances, B โ€ฆ
ABNewswire
Epilepsy Pipeline Assessment 2024: Therapies, Clinical Trials, and Market Insigh โ€ฆ
(Las Vegas, Nevada, United States) As per DelveInsight's assessment, globally, Epilepsy pipeline constitutes 75+ key companies continuously working towards developing 90+ Epilepsy treatment therapies, analysis of Clinical Trials, Therapies, Mechanism of Action, Route of Administration, and Developments analyzes DelveInsight. The Epilepsy Pipeline report embraces in-depth commercial and clinical assessment of the pipeline products from the pre-clinical developmental phase to the marketed phase. The report also covers a detailed description of theโ€ฆ
02-22-2022 | Health & Medicine
INFINITY BUSINESS INSIGHTS
Global Indomethacin Market Seeking Excellent Growth by 2028 | Ratiopharm, Merck, โ€ฆ
"IBI has published a report entitled Global Indomethacin Market Research Report which provides comprehensive data on emerging trends, market drivers, growth opportunities, and barriers that could change the dynamics of the industry market. It provides an in-depth analysis of market segments which includes the product, application, and competitor analysis. Click Here To Order A Sample Copy Of Indomethacin Global Market Report : https://www.infinitybusinessinsights.com/request_sample.php?id=380382 The Indomethacin Global Market Research Report provides close monitoringโ€ฆ
05-13-2020 | Health & Medicine
Business Industry Reports
Roxatidine Market 2020: Top Companies Analysis To Grow Healthcare Business by 20 โ€ฆ
Business Industry Reports Research has recently announced a report on Global Roxatidine Market based on the Category Industry. The Roxatidine Market report emphasizes various key aspects, which include growth drivers, restraints, opportunities and recent market trends for the forecast period 2020-2024. Global Roxatidine Market overview: Business Industry Reports Analyst covers the Major Players data, including: shipment, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about theโ€ฆ