Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) -- The "United States Generic Drugs Market, By Type (Small Molecule Generics v/s Biosimilars), By Application, By Mode of Drug Delivery, By Form, By Source, By Distribution Channel, By Region, Competition, Forecast and Opportunity, 2026" report has been added to ResearchAndMarkets.com's offering.
The United States Generic Drugs Market was valued USD70.78 billion in 2020 and is forecast to grow at CAGR of 9.43% during the forecast period and may achieve the market value of USD126.74 billion by the year 2026.
Factors like cost effective nature of generic drugs and increasing demand from the developing economies are majorly responsible for this futuristic growth estimation of the United States Generic Drugs Market in the upcoming five years. Generic drugs do not require extensive research and development as in case of prescription drugs and patented drugs.
Market players and research institutes invest heavily on patent pharmaceuticals. Also, FDA approvals for the generic drugs are not required since generic drugs contain same composition as that of previously patented drug and thus supports the growth of the United States Generic Drugs Market in the next five years. United States healthcare industry, in terms of the generic drugs, has grown from registering 80% growth in 2020 from previous growth of 20% in 2015.
Increased export of generic drugs to the developing economies like Kenya, India, etc. is also substantiating the growth of the United States Generic Drugs Market in the future five years.
The United States Generic Drugs Market is segmented based on type, mode of drug delivery, form, source of manufacturing, application, company and regional distribution. Based on type, the market can be split into small molecule generics and biosimilars. Small molecule generics are anticipated to register largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of its simpler and easier manufacturing processes.
Generic drug manufacturers during the production of small molecule generics are required to prove that the final product contains identical chemical compounds as that of the patent drug. With similar pharmacokinetic functions and properties, the small molecule generic is accepted. Moreover, the demand for the cost-effective generic drugs is anticipated to further support the growth of the United States Generic Drugs Market in the future five years.
Based on application, the market can be fragmented into cardiovascular diseases, diabetes, neurology, oncology, infectious diseases, and others. Cardiovascular diseases are expected to dominate the market segment while registering largest revenue shares of the market in the upcoming five years on the account of increasing instances of cardiovascular diseases in the United States.
Moreover, increased demand for the treatment and prolonged medication protocols drives the growth of the sub-segment cardiovascular diseases meanwhile supporting the growth of the Untied States generic drugs market in the next five years.
Increasing researches and pharmaceutical developments for the oncology disease is anticipated to drive the growth of the oncology sub-segment and drive the growth of the United States Generic Drugs Market in the future five years.
Major market players in the United States that lead the market growth of generic drugs include:
- Teva Pharmaceuticals USA, Inc.
- Pfizer Inc
- Sandoz US
- Endo Pharmaceuticals Inc.
- Aurobindo Pharma USA, Inc.
- Abbott Laboratories Inc.
- Eli Lilly and Company
- Sun Pharma Inc.
- Lupin Pharmaceuticals, Inc.
- Zydus Pharmaceuticals USA Inc.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
United States Generic Drugs Market, By Type:
- Small Molecule Generic
- Biosimilars
United States Generic Drugs Market, By Application:
- Cardiovascular Diseases
- Diabetes
- Neurology
- Oncology
- Infectious Diseases
- Others
United States Generic Drugs Market, By Mode of Drug Delivery:
- Oral
- Parenteral
- Topical
- Others
United States Generic Drugs Market, By Form:
- Tablet
- Capsule
- Injection
- Others
United States Generic Drugs, By Source:
- In House Manufacturing
- Contract Manufacturing Organizations
United States Generic Drugs Market, By Distributions Channels:
- Retail Pharmacies
- Online Pharmacies
- Hospital Pharmacies
- Others
For more information about this report visit https://www.researchandmarkets.com/r/3b41r9
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