Dublin, March 30, 2022 (GLOBE NEWSWIRE) -- The "Generic Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global generic drugs market reached a value of US$ 320 Billion in 2021. Looking forward, the market to reach US$ 482.5 Billion by 2027, exhibiting at a CAGR of 7% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A generic drug is a medicine that contains the same active ingredient and has an equivalent therapeutic effect as the branded drug. It is also identical in terms of safety, quality, dosage, strength, route of administration, intended use, effect, form, quality and side effects.
These medications can be produced only after the patent expiration of the brand-name drug. As compared to branded drugs, the production of generics costs much less as it does not require the repetition of clinical (human) and animal studies to demonstrate the effectiveness and safety of the medicine. Due to a reduction in the upfront cost of research, generics are typically sold at a substantially lower price in the market.
Market Trends:
Due to an aging population and increasing incidences of chronic diseases, governments of developed countries have been making efforts to reduce healthcare costs by promoting the production of generics. Whereas, in developing countries, affordability and accessibility are some of the primary issues faced by the healthcare industry.
To address these problems, governments and other regulatory bodies have been encouraging manufacturers to introduce effective generic drugs. However, despite the rapid patent expiry of branded drugs, there has been a shortage of generics. This situation is currently being rectified by various initiatives taken by hospitals, institutions and other organizations across the globe.
For instance, in 2018, a coalition of seven hospitals and three philanthropies in the US announced that they would be addressing drug shortages and the high cost of essential medications by launching a generic drug company, named Civica Rx. The company is producing 14 short-supply, FDA-approved drugs that have been available in the market since the beginning of 2019.
Other than this, in 2018, the United States Food and Drug Administration (USFDA) created policies to make the process of market entry and generic approval more efficient. It issued guidance documents for the development of both hard-to-copy drug categories and specific complex drugs.
Key Market Segmentation:
- Central nervous system disease currently represents the leading therapy area, accounting for the majority of the total market.
- Presently, oral medicines are the most preferred product, owing to the convenience attached to their administration, which requires minimal to no medical assistance.
- At present, the majority of the generics are distributed through retail pharmacy stores as most generic drugs are over the counter (OTC) medicines that can be bought without a prescription.
- On a regional basis, the United States represents the biggest market, accounting for the largest market share. This growth is led by numerous initiatives by the US Government to improve generic drug manufacturing and access in the country.
Competitive Landscape:
The market is fragmented in nature with the presence of various small and large manufacturers.
Some of the leading players operating in the market include
- Teva Pharmaceuticals Industries Ltd.
- Mylan N.V.
- Novartis AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Fresenius SE & Co.
- Lupin Limited
- Endo Pharmaceuticals Inc.
- Aurobindo Pharma Limited
- Aspen Pharmacare Holdings Limited.
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Generic Drugs Industry
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Country
5.5 Market Breakup by Therapy Area
5.6 Market Breakup by Drug Delivery
5.7 Market Breakup by Distribution Channel
5.8 Market Forecast
5.9 SWOT Analysis
5.10 Value Chain Analysis
5.11 Porter's Five Forces Analysis
5.12 Regulations in the Generic Industry
5.13 Key Market Drivers and Success Factors
6 Performance of Key Countries
6.1 United States
6.2 China
6.3 Brazil
6.4 Germany
6.5 France
6.6 India
6.7 United Kingdom
6.8 Japan
6.9 Canada
6.10 Italy
7 Market Breakup by Therapy Area
7.1 Central Nervous System
7.2 Cardiovascular
7.3 Dermatology
7.4 Genitourinary/Hormonal
7.5 Respiratory
7.6 Rheumatology
7.7 Diabetes
7.8 Oncology
8 Market Breakup by Drug Delivery
8.1 Oral
8.2 Injectables
8.3 Dermal/Topical
8.4 Inhalers
9 Market Breakup by Distribution Channel
9.1 Retail Pharmacies
9.2 Hospital Pharmacies
10 Competitive Landscape
10.1 Market Structure
10.2 Market Breakup by Key Players
10.3 Key Player Profiles
11 Generic Drugs Manufacturing Process
11.1 Product Overview
11.2 Detailed Process Flow (Tablets)
11.3 Detailed Process Flow (Injectable)
11.4 Various Types of Unit Operations Involved
11.5 Mass Balance and Raw Material Requirements
12 Project Details, Requirements and Costs Involved
12.1 Land Requirements and Expenditures
12.2 Construction Requirements and Expenditures
12.3 Plant Machinery
12.4 Machinery Pictures
12.5 Raw Material Requirements and Expenditures
12.6 Packaging Requirements and Expenditures
12.7 Transportation Requirements and Expenditures
12.8 Utility Requirements and Expenditures
12.9 Manpower Requirements and Expenditures
12.10 Other Capital Investments
13 Loans and Financial Assistance
14 Project Economics
14.1 Capital Cost of the Project
14.2 Techno-Economic Parameters
14.3 Product Pricing and Margins Across Various Levels of the Supply Chain
14.4 Taxation and Depreciation
14.5 Income Projections
14.6 Expenditure Projections
14.7 Financial Analysis
14.8 Profit Analysis
For more information about this report visit https://www.researchandmarkets.com/r/hp8ne7
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