Global Generic Drugs Market Report 2021: Market to Surpass $750 Billion by 2030 - Patent Expiration of Blockbuster Drugs & Growing Prevalence of Acute and Chronic Diseases
DUBLIN, June 4, 2021 /PRNewswire/ -- The "Generic Drugs Market Research Report: By Type, Application, Route of Administration, Distribution Channel - Global Industry Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global generic drugs market size to $786.0 billion by 2030 from $278.4 billion in 2019, at a 10.0% CAGR between 2020 and 2030.
Generic drugs are cost-effective, at the same time contain the same active ingredients and have a similar effect as patented drugs. In this regard, the generic drugs market is also being driven by the patent expiry of blockbuster medications. As patented drugs lose their certification, it gives pharmaceutical companies the opportunity to create their cheaper but equally effective variants.
During the COVID-19 crisis, the generic drugs market has received a boost, as governments around the world, despite implementing lockdowns and movement restrictions, have ensured that the supply of essential medicines isn't hampered. Moreover, as people have lost their jobs or are working at reduced salaries, they are drastically cutting down on expenses, which is why the preference for cheap generic drugs over the expensive patented ones has risen.
In the near future, the highest CAGR in the generic drugs market, of 10.4%, is predicted to be displayed by the oral category, on the basis of route of administration. Being the simplest and a painless method of drug administration, it is widely popular among the masses.
The indirect bifurcation generates the higher revenue in the generic drugs market, under the distribution channel segment. Most people prefer to buy drugs from hospitals, clinics, and pharmacies/chemists, which are all increasing in number around the world due to the mounting patient count.
Asia-Pacific (APAC) has made the largest revenue contribution to the generic drugs market till now, and it will continue doing so throughout this decade. The growing geriatric population and burden of acute and chronic diseases are driving the demand for medication. Moreover, the majority of the people here still cannot afford expensive medicines, which is why they go for the cost-effective generic drugs.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Market Definition
4.1.1 By Type
4.1.1.1 Simple
4.1.1.2 Super
4.1.1.3 Biosimilars
4.1.2 By Application
4.1.2.1 Neurological diseases
4.1.2.2 Cardiological diseases
4.1.2.3 Metabolic diseases
4.1.2.4 Infectious diseases
4.1.2.5 Orthopedic diseases
4.1.2.6 Respiratory diseases
4.1.2.7 Genitourinary/hormonal diseases
4.1.2.8 Others
4.1.3 By Route of Administration
4.1.3.1 Oral
4.1.3.2 Injection
4.1.3.3 Cutaneous
4.1.3.4 Mucosal
4.1.3.5 Inhalation
4.1.3.6 Others
4.1.4 By Distribution Channel
4.1.4.1 Indirect
4.1.4.2 Direct
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Shift in preference toward generic drugs
4.2.1.2 Increasing product launches
4.2.1.3 Rising number of collaborations and partnerships
4.2.1.4 Increasing number of mergers and acquisitions
4.2.2 Drivers
4.2.2.1 Increasing ageing population
4.2.2.2 Patent expiration of blockbuster drugs
4.2.2.3 Growing prevalence of acute and chronic diseases
4.2.2.4 Rising R&D expenditure of biotech and pharma companies
4.2.2.5 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 High marketing of branded drugs overshadows generics
4.2.3.2 Preference of physicians toward branded drugs
4.2.3.3 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Supportive regulations for generics
4.3 Impact of COVID-19
4.3.1 Supply Side Analysis
4.3.1.1 Current scenario of major manufactures and exporters of generic products
4.3.1.2 Situation of lockdown and workforce availability
4.3.1.3 Production scenario
4.3.1.4 Situation of major countries supplying generic drugs
4.3.2 Demand Side Analysis
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.2 By Application
5.3 By Route of Administration
5.4 By Distribution Channel
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Strategic Developments of Key Players
11.1.1 Product Launches and Approvals
11.1.2 Partnerships
11.2 Major Players and Their Offerings
Chapter 12. Company Profiles
- Cipla Ltd.
- Dr. Reddy's Laboratories Ltd.
- Alkem Laboratories Limited
- Teva Pharmaceutical Industries Limited
- Mylan N.V.
- Lupin Limited
- Endo International plc
- Aurobindo Pharma Limited
- STADA Arzneimittel AG
- Hikma Pharmaceuticals plc
- Sawai Pharmaceutical Co. Ltd.
- Piramal Enterprises Ltd.
- Mallinckrodt plc
- Torrent Pharmaceuticals Ltd.
- Amneal Pharmaceuticals Inc.
- Taro Pharmaceutical Industries Ltd.
- Perrigo Company plc
- Alvogen
- Nichi-Iko Pharmaceutical Co. Ltd.
- Glenmark Life Sciences Limited
- Amphastar Pharmaceuticals Inc.
- MSN Labs
- CUSTOPHARM INC.
- Cadila Healthcare Ltd.
- Pfizer Inc.
- Sanofi
- Bausch Health Companies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gr7oli
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