DUBLIN, March 10, 2023 /PRNewswire/ -- The "Generic Drugs: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Generic Drugs Market to Reach $644.5 Billion by 2030
The global market for Generic Drugs estimated at US$402.9 Billion in the year 2022, is projected to reach a revised size of US$644.5 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.
Small-Molecule Generics, one of the segments analyzed in the report, is projected to record 5.6% CAGR and reach US$388 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biosimilars segment is readjusted to a revised 6.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $121.8 Billion, While China is Forecast to Grow at 7.5% CAGR
The Generic Drugs market in the U.S. is estimated at US$121.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$122.2 Billion by the year 2030 trailing a CAGR of 7.5% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Generic Drugs - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End
- Progress on Vaccinations, Why Should Businesses Care?
- These are Times When Questions Abound & Answers Are Few
- How the Healthcare Industry Has & Continues to be Impacted by the Pandemic & What's the New Normal?
- With the COVID-19 Pandemic Exposing Global Healthcare Unpreparedness, There is Increasing Policy Led Focus on Rebooting Health Systems Worldwide
- Impact of COVID-19 Crisis on Generic Drugs Market
- Demand for Generic Pain Killers Rises
- A Prelude to Generic Drugs
- Generic Drugs Market Set for a Rapid Growth
- US Dominates, Asia-Pacific to Exhibit the Fastest Growth
- India- A Significant Market
- Market Restraints
- Competition
- Recent Market Activity
3. MARKET TRENDS & DRIVERS
- Patent Expiries Set to Widen the Addressable Market for Generic Drugs
- Patent Expiries of Select Drugs in 2020
- Patent Expiries of Select Drugs in 2021
- Patent Expiries of Select Drugs in 2022
- Patent Expiry of Select Major Drugs in the US: 2020-2022
- Robust Demand for Pharmaceutical Drugs Drives Demand for Generic Drugs
- Cost Containment Measures Put Focus on Generics
- Small Molecule Generics Represent the Dominant Segment
- Increasing Demand for Biosimilars, Driven by Patent Expiry of Major Biopharmaceutical Drugs
- Patent Expiries of Major Biopharmaceutical Drugs in the US and Europe
- Progressive Regulatory Framework Accelerates Product Approvals & Subsequently Market Revenues
- Specific Guidelines for Biosimilars in Various Countries with Year of Publication
- Biosimilars Regulatory Agencies in Select Regional Markets
- Biosimilar Approvals in the US (as of February 2021)
- Biosimilar Approvals in Europe (as of January 2021)
- Rising Healthcare Costs Drive Demand for Generic Drugs
- Aging Population to Propel the Demand for Generic Drugs
- Rising Prevalence of Chronic Diseases Drive the Demand for Generic Drugs
- Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
FOCUS ON SELECT PLAYERS (Total 42 Featured)
- Abbott Laboratories
- Apotex Inc.
- ASKA Pharmaceutical Co., Ltd.
- Aspen Pharmacare Holdings Limited
- AstraZeneca Plc
- Baxter International Inc.
- Dr. Reddy's Laboratories Limited
- Eli Lilly and Company
- Endo International plc
- Fresenius Kabi
- GlaxoSmithKline Plc.
- H. Lundbeck A/S
- Hospira
- Lupin Pharmaceuticals, Inc.
- Mylan N.V.
- Novartis International AG
- Novo Nordisk A/S
- F. Hoffmann-La Roche AG
- Sandoz International GmbH
- Sanofi-Aventis U.S. LLC
- STADA Arzneimittel AG
- Sun Pharma
- Teva Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/t8ib4c
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