Press release
North America Generic Drugs Market on the verge of crossing USD 200 billion mark in 2022
Generic drugs can be described as pharmaceutical drugs that have exactly the same dosage, side effects, intended use, risks, safety, effects and strength as the genuine drug, for example metformin. They are price effective as compared to branded drugs. Generic drugs are also called as abbreviated drugs. In order to sell a generic drug, manufacturing company has to submit an AND (Abbreviated New Drug) application for getting it approved.
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North America Generic Drugs: Drivers & Restraints
The key driving force of North America Generic Drugs market is the patent expiry of branded drugs. Another trend which is expected to drive this market is the rising incidence of outsourcing. Currently, a lot of doctors in the United States are prescribing generic drugs which is expected to increase even more. Vendors are utilizing outsourcing as a plan in order to decrease their capital that will be an advantage to generic drugs. The key constraint to this market is rigid rules which are setup by FDA for getting drugs approval as well as the threat of counterfeit drugs.
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North America Generic Drugs: Segmentation
By Type
• Introduction
• Biosimilars
• Simple generics
• Super generics
By Therapeutic drugs
• Introduction
• Cardiovascular Products
• Anti-infective Drugs
• Anti Arthritis Drugs
• Central Nervous System Drugs
• Anti Cancer Drugs
• Respiratory System Drugs
• Others
By Geography
• North America
o United States
o Canada
From simple data collection through secondary and primary research to ad-hoc research requests relating to specific information, we provide our services via customization. Get customization at: http://www.marketdataforecast.com/market-reports/north-america-generic-drugs-market-2184/customize-report
North America Generic Drugs: Overview
Factors like growing incidence of outsourcing and patent expiry of branded drugs are affecting the growth of this market positively. However, other factors such as rigid rules which are set up by the Food and Drug Administration in getting new drugs approved and threat from counterfeit drugs are restraining the growth of this market. In this market, biosimilar drugs are expected to grow at the fastest rate. Globally, North America region has the largest market for generic drugs in the world by share. In the North America region, United States has the largest share.
North America Generic Drugs: Key Players
Some of the major companies dominating North America Generic Drugs Market are Mylan, Inc., Industries, Ltd., Ltd, Apotex, Inc., Watson Pharmaceuticals, Ltd., Actavis, Par Pharmaceutical, Inc., Dr. Reddy’s Laboratories, Ranbaxy Laboratories, Sandoz International GmbH, Hospira, Inc., Teva Pharmaceutical among others.
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