Patent Expirations Driving Growth in the Generic Drugs Market

The generic drugs market size is expected to be valued at USD 343145 million in 2024 and reach USD 484209 million by 2029, growing at a CAGR of 7.13 % from 2024 to 2029.

Generic drugs are chemically equivalent to brand-name drugs in terms of active ingredients, dosage, strength, route of administration, quality, performance characteristics, and intended use. They are typically sold under their chemical name rather than a brand name and are usually less expensive than brand-name drugs.

Global Generic drugs Market Report Scope:
• Market Size (2029): USD 484209 million
• Market Size (2024): USD 343145 million
• CAGR (2024 to 2029): 7.13 %
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Type, Application, and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Ranbaxy Laboratories, Ltd, Actavis., Viatris, Dr. Reddy's Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., are playing a dominant role in the generic drugs market.

Generic drugs contain the same active ingredients as their brand-name counterparts and are typically available at a lower cost, whereas generic drugs cost around 85% less than brand-name drugs. This factor is majorly driving the global market growth. The Indian pharmaceutical sector is one of the world's largest, holding the top position in vaccine production and serving as the leading producer and exporter of generic drugs by volume-the growing prevalence of chronic diseases like cancer and cardiovascular diseases fueling the expansion of the generic drugs market. According to the International Agency for Research on Cancer stated that an estimated 19.3 million new cases of cancer will be diagnosed in 2020 across the world and the incidence of mortality of 36 cancers in 185 countries globally. The rising older population with chronic disease conditions fuels the market expansion.

The demand for generic drugs is unrestricted to developed nations, and it is increasing in developing countries like China, Brazil, and India, driving the growth of the generic drugs market. Factors such as increased hospital admissions, a rise in the number of surgeries, and a growing awareness of the benefits of generic drugs are augmenting the growth of the generic drugs industry. The escalating cost of branded medicines, a surge in healthcare expenditure, and the increasing demand for generic drugs contribute to expanding the Generic Drugs Market Size. Manufacturers' increased research activities to develop enhanced generic drugs are expected to drive the global market in the upcoming years.

The presence of stringent regulations and approval processes in certain regions can hinderthe growth of the generic drugs market. Brand-name drugs' strong brand loyalty and effective marketing strategies pose a challenge for generic alternatives. Patent protections for brand-name drugs can further delay the entry of generic versions, limiting competition and availability. Although generic drugs must meet the same quality standards as their brand-name counterparts, concerns about their efficacy and quality can impact market expansion. Increasing competition from multiple generic versions can lead to price erosion, reducing manufacturers' profit margins. The limited awareness among healthcare professionals and patients about the benefits and availability of generics hampers the market growth.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/global-generic-drugs-market

Key Insights from The Report:
• Based on Type, the pure generic drugs segment captured highest share of the global market in 2023.
• Based on Application, the cardiovascular segment dominated the market in 2023.
• North America dominated the generic drugs market in 2023. Europe accounted for second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• AMD Global Generic Drugs Market Ranbaxy Laboratories, Ltd, Actavis., Viatris, Dr. Reddy's Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., are dominated the generic drugs market.

SEGMENTATION INCLUDED IN THIS REPORT:

By Type:
• Pure Generic Drugs
• Branded Generic Drugs

By Application:
• The Central Nervous System (CNS)
• Cardiovascular
• Dermatology
• Oncology
• Respiratory
• Others

By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Browse Regional Reports:
North America Generic Drugs Market Research Report - Segmented By Type, Application, & Country (U.S, Canada & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/north-america-generic-drugs-market

Europe Generic Drugs Market Research Report - Segmented By Type, Application, & Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market

Asia-Pacific Generic Drugs Market Research Report - Segmented By Type, Application and Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2023 to 2028) - https://www.marketdataforecast.com/market-reports/asia-pacific-generic-drugs-market

Latin America Generic Drugs Market Research Report - Segmented By Type, Application, & Country (Mexico ,Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecast (2023 to 2028) -https://www.marketdataforecast.com/market-reports/latin-america-generic-drugs-market

Middle East and Africa Generic Drugs Market Research Report - Segmented By Type, Application, & Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from 2023 to 2028 -https://www.marketdataforecast.com/market-reports/middle-east-and-africa-generic-drugs-market

TABLE OF CONTENTS:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Biosimilars
5.1.3 simple generics
5.1.4 Super generics
5.1.5Y-o-Y Growth Analysis, By Product
5.1.6Market Attractiveness Analysis, By Product
5.1.7Market Share Analysis, By Product
5.2 Therapeutic drugs
5.2.1 Introduction
5.2.2 Cardiovascular Products
5.2.3 Anti-infective Drugs
5.2.4 Anti Arthritis Drugs
5.2.5 Central Nervous System Drugs
5.2.6 Anti Cancer Drugs
5.2.7 Respiratory System Drugs
5.2.8 Others
5.2.9 Y-o-Y Growth Analysis, By Therapeutic Drugs
5.2.10 Market Attractiveness Analysis, By Therapeutic Drugs
5.2.11 Market Share Analysis, By Therapeutic Drugs
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Therapeutic Drugs
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Therapeutic Drugs
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By type
6.1.5.3 By Therapeutic Drugs
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Ranbaxy Laboratories
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Actavis
8.3 Mylan, Inc. Industries, Ltd.
8.4 Dr. Reddy's Laboratories
8.5 Par Pharmaceutical, Inc.
8.6 Sandoz International GmbH
8.7 Celgene Corporation
8.8 Apotex, Inc.
8.9 Watson Pharmaceuticals, Ltd.
8.10 Teva Pharmaceutical and others.
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

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