Generic Drugs Market is Expected to Reach US$ 469.3 Bn by 2025

Global Generic Drugs Market is Expected to Reach US$ 469.3 Bn by 2025, Due to Launch of Newer Products into Market
Analyst Speak:

“The Generic Drugs Market is projected to grow at significant CAGR over the forecast years to reach US$ 469.3 Bn by 2025, due to increase in the prevalence of chronic diseases coupled with launch of generic drugs into market.

Precision Business Insights (PBI) in its report titled “Generic Drugs Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over six years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The global generic drugs market size expected to reach US$ 469.3 Bn by 2025. The market is burgeoning at significant CAGR over the forecast years owing to rise in prevalence of diabetes, cancer, neurovascular disorders, cardiovascular disorders, and other chronic diseases around the globe. For instance, according to World Health Organization 2014, approximately 422 Mn people affected with diabetes around the globe. Moreover, low cost of generic drugs, patent expiry of block buster drugs, surge in geriatric population, and increase in healthcare expenditure are anticipated to boost the global generic drugs market over the forecast years. However, high competition between the market players, increase in the adoption of branded drugs by physicians, and lack of favorable reimbursement guidelines are anticipated to deter the growth of global generic drugs market over the forecast timeframe.

Generic drugs market segmented on the basis of product type, application, route of administration, distribution channel, and geographical regions.

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Cardiovascular Segment Expected to Dominate the Market

Based on application, global generic drugs market is segmented into CNS disorders, cardiovascular diseases, oncology, diabetes, respiratory disorders, rheumatology, hormonal disorders, infectious diseases, and others. Among all the applications, cardiovascular segment dominated the global generic drugs market in 2018, and expected to grow at prominent growth rate over the forecast years 2019-2025 owing to increase in the prevalence of cardiovascular diseases around the globe. For instance, according to WHO 2016, approximately 17.9 Mn people died from CVDs that represents approximately 31% of all global deaths. Moreover, launch of newer generics also boost the market over the forecast years. For instance, in September 2018, Mylan N.V. launched generic for Baxter’s Brevibloc, a single dose plastic bag with composition of Esmolol Hydrochloride used in the treatment of supraventricular tachycardia.

North-America, Accounts for Major Revenue Share for Generic Drugs Market

Precision Business Insights (PBI), generic drugs market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, North America accounted for major revenue share due to surge in the prevalence of chronic diseases in U.S. and Canada, implementation of Drug Competition Action Plan by FDA to remove the barriers faced by market players, and patent expiry of branded drugs. However, Asia Pacific generic drugs market growing creates lucrative opportunities over the forecast years owing to large patient pool, increase in medical tourism, and presence of huge number of market players in the region.

Strategic Alliances and Launch of Newer Products in Generic Drugs Market

 In June 2019, Amring Pharmaceuticals Inc. launched Succinylcholine Chloride injection, a generic of Quelicin used as skeletal muscle relaxant in surgery and also introduced Mesalamine Suppositories, a generic of Canasa for the treatment of active ulcerative proctitis
Key player’s profiles in the report are Amring Phrmaceuticals, Inc., Mylan N.V., Novartis AG, Abbott, Inc., Pfizer, Inc., Sun Pharmaceutical Industries Ltd., Glaxosmithkline plc, Dr. Reddy’s Laboratories, Teva Pharmaceuticals Industries Limited, and Fresenius Kabi AG

Detailed Segmentation

By Product Type
o Pure Generics
o Branded generics
o Biosimilars
By Application
o Cardiovascular Diseases
o CNS Disorders
o Oncology
o Respiratory Disorders
o Diabetes
o Rheumatology
o Hormonal Disorders
o Infectious Diseases
o Others
By Route of Administration
o Oral
o Topical
o Parenteral
o Others
By Distribution Channel
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
o Others
Geography
o North America
• US
• Canada
o Europe
• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe
o Asia-Pacific
• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

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