Global Generic Drugs Market Overview:
Generic Drugs are referred to as a drug product that is comparable to a brand/reference listed drug product in dosage form, strength, route of administration, quality and performance characteristics, and intended use. These drugs have the same active ingredients, dosage form, strength, route of administration, and conditions of use as original branded products but with lower prices. Generic drugs help to reduce drug costs and increase drug use. According to the Association for Accessible Medicines, 89% of all prescriptions dispensed in the United States are filled with a generic drug. North America region is the largest supplier of generic drugs, following Europe is the second-largest supplier of generic drugs. Of the Asian countries, India is emerging as a leading country for the generic drugs market. According to AMA, the Global Generic Drugs market is expected to see growth rate of 9.12%
- Increasing Demand for Generic Drugs in Emerging Countries such as China and India
- Cost-Benefit compared to the Branded Drugs
- Large Number of Patent Expired Branded Drugs
- Advent of Robotic Process Automation (RPA)
- Stringent Governmental Regulations
- Adverse Effects Associated With Generic Drugs
- Government Promoting the Pharmaceutical Sector
- Increasing Use of Hospital-owned Generics
- Presence of Local Players
Some of the key players profiled in the report are Teva Pharmaceutical Industries, Ltd. (Israel), Dr. Reddy’s Laboratories (India), Sandoz International GmbH (Germany), Apotex, Inc. (Canada), Par Pharmaceutical, Inc. (United States), Hospira, Inc. (United States), Watson Pharmaceuticals, Ltd. (India), Novartis (Switzerland), Fresenius SE & Co. KGaA (Germany), Pfizer (United States), Sun Pharmaceutical Industries (India), Ranbaxy Laboratories, Ltd (India), Actavis (Ireland), Mylan, Inc. (United States), Cipla (India) and Amneal Pharmaceuticals (United States). Additionally, following companies can also be profiled that are part of our coverage like Aurobindo Pharma Limited (India), Aspen Pharmacare Holdings Limited (South Africa), Lupin Limited (India) and Zydus Cadila (India). Analyst at AdvanceMarketAnalytics see United States, Europe, China and Indian Players to retain maximum share of Global Generic Drugs market by 2025. Considering Market by Sales Channel, the sub-segment i.e. Sales Channel Hospital Pharmacies will boost the Generic Drugs market. Considering Market by Drug Delivery, the sub-segment i.e. Oral will boost the Generic Drugs market.
In May 2020, Jubilant Generics Ltd entered into a non-exclusive licencing agreement with US-based Gilead Sciences Inc to manufacture and sell the potential COVID-19 drug Remdesivir in 127 countries.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Generic Drugs market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Generic Drugs market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Generic Drugs Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.