Generic Drugs a $350 Billion Opportunity According to 'The Generic Drugs Market: 2015-2030 - Opportunities, Challenges, Strategies & Forecasts'

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Mar 03, 2015, 07:52 ET

DUBLIN, Mar. 03, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/tvmk72/the_generic_drugs) has announced the addition of SNS Research's new report "The Generic Drugs Market: 2015 - 2030 - Opportunities, Challenges, Strategies & Forecasts" to their offering.

A generic drug is a pharmaceutical product, usually intended to be interchangeable with an innovator product, that is manufactured without a license from the innovator company and marketed after the expiry date of the patent or other exclusive rights.

Already prevalent in the U.S., Europe and much of the developing world, generic drugs are now finding their way into previously untapped markets such as Japan, largely driven by regulatory efforts to reduce healthcare costs.

SNS Research estimates that the market for generic drugs will account for nearly $350 Billion in revenue by the end of 2015. Despite challenges relating to quality control and legal concerns, the market is poised for significant growth in the coming years. The market is expected to grow at a CAGR of 12% between 2015 and 2020, driven by growth in both established and developing markets.

The "Generic Drugs Market: 2015 – 2030 – Opportunities, Challenges, Strategies & Forecasts" report presents an in-depth assessment of the generic drugs ecosystem including technology, economics, key trends, market drivers, challenges, investment potential, regulatory landscape, leading therapies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents market size forecasts for generic drugs from 2015 through to 2030. The forecasts are segmented for over 10 therapeutic areas, 3 brand classifications, 5 regions and 25 leading countries.

Key Findings:

- Generic drugs will account for nearly $350 Billion in revenue by the end of 2015. The market is further expected to grow at a CAGR of 12% over the next five years.
- As the market consolidates, larger players continue to grow their market share on the heels of acquisitions and mergers. Well established players are particularly keen to capitalize on joint ventures in untapped markets such as Japan.
- In order to overcome low margins, some generic drug manufacturers are venturing into the super generics opportunity. Sold for a significantly higher price than their pure generic counterparts, super generics account for 18% of all spending on generic drugs.
- In a bid to control costs and expand their global reach, generic drug manufacturers are complementing their existing manufacturing and R&D locations with sites in low cost countries such as India, China and Russia.
- Driven by the cost saving potential of biosimilar drugs, a number of countries have established regulatory pathways for their approval. We estimate that approved biosimilar drugs will account for more than $20 Billion in revenue by the end of 2020.

Key Topics Covered:

Chapter 1: Introduction