The Global Generic Pharmaceuticals Market was valued at USD 392 Billion in 2022 and is estimated to reach USD 640 Billion by 2032, growing at a CAGR of 8.9 % from 2023 to 2033.  

Scope of the market:

The major reason to grow this generic industry as an alternative to branded drugs is the lowest price. As compared to the other medicines generic products are increasing constantly.

One of the major factors driving this generic pharmaceutical market is the increasing number of patientswith chronic diseases

The reason for this market growth isthe rising ageing population and the growing prevalence of chronic diseases such as Cancer, Arthritis, Alzheimer’s, and other Dementias, and Orthopaedic conditions, the increasing cost of hospital beds, unavailability of the ambulance service in remote areas, availability of the skilled nursing care at home, increasing demand for monitoring, mobility care products as well as screening product, paediatric deformity, the proliferation of chronic diseases.

According to Statista, generic revenue is increasing steadily and will reach 99 billion dollars by 2026.

Economic Impact of Covid-19:

The analysis of the COVID-19 recovery trajectory provides an overview of the main strategies that industries are implementing to respond to and recover from the economic crisis. It alsofocuses on the post-pandemic and pre-pandemic era of the Global Home Healthcare Market through PEST analysis, SWOT, Quantitative and Qualitative analysis, Attractive analysis, and DROs.

Key Players:

• GlaxoSmithKline Plc
• Sandoz International GmbH
• Eli Lilly Company
• Baxter International Inc.
• Mylan N.V.
• Teva Pharmaceutical Industries Ltd.
• Cipla Inc.
• Sanofi
• Aurobindo Pharma
• AstraZeneca
• LUPIN
• Endo International plc.

These players are considered in the report based on Company Profile, company overview, strategies, recent developments and trends, and financial overview.

Mergers and acquisitions and the launching of new services and products are helping key players to make their strategies in the forecast.

Recent Developments in Global Generic Pharmaceuticals Market.

Hikma Pharmaceutical PLC is developing highly effective pharmaceuticals and makingthem available as needed. Further in 2023, June Hikma Pharmaceutical PLC released vancomycin hydrochloride injection which was launched in the U.S.

April 2023, Viatris Inc., a global healthcare company, announced its new Viatris Eye Care division which is the acquisition of Famy Life Science and Oyster Point Pharma.

In March 2023, Dr Reddy’s Laboratories Ltd introduced Regadenoson injectable, the USFDA-approved generic alternative of Lexiscan injectable in the US market.

Due to high innovation in this industry in technology and investment the generic pharmaceutical market is expected to expand globally.

Global Generic Pharmaceuticals Market Key Benefits:

1. The report provides information regarding key drivers, restraints and opportunities with impact analysis.
2. Quantitative and Qualitative analysis of the current market.
3. Estimations for the forecast period 2030.
4. Historical data and forecast data.
5. Recent developments and trends in the market.   
6. Market share of the market players, company profiles, SWOT analysis, and competitive landscape.
7. Covid-19 Impact analysis

Global Generic Pharmaceuticals Market Segmentation:

Based on Type

• Simple Generic
• Super Generic
• Biosimilar

Based on Product:

• Small Molecule
• Large Molecule

Based on Application:

• Respiratory Disease
• Gastrointestinal Disease
• Cancer
• Cardiovascular Disease
• Diabetes
• Central Nervous System Disorders
• Others

Based on Route of Administration:

• Oral
• Inhalable
• Injectables
• Topical
• Others

Based on Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on Region:

Asia-Pacific

• Japan
• China
• India
• Australia
• New Zealand
• Rest of Asia-Pacific

 

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy    
• Spain
• UK
• Rest of Europe

Rest of the World

Each of the market segments has been analysed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and competitive analysis.

 

Report Scope	Details
Base Year	2023
Historical Years	2019 to 2022
Forecast Years	2023 to 2033
Market Size 2022	392 BN $
Market Revenue 2033	640 BN $
Growth Rate 2023- 2033	8.90%
Report Coverage	Trends, SWOT Analysis, Competitive Landscape, DROs, Revenue Forecast, PEST Analysis.
Segments Covered	Type, Product, Application, Route of Administration, Distribution Channel, Region
Companies Mentioned	GlaxoSmithKline Plc, Sandoz International GmbH, Eli Lilly Company, Baxter International Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Cipla Inc., Sanofi, Aurobindo Pharma, AstraZeneca, LUPIN, Endo International plc.
Customization	Yes

 

 

Regional Analysis:

North America is dominating the other regionswiththeir elderly population, and well-established infrastructure followed by Germany and the UK in Europe.

Europe holds the 2^nd largest in market share due to its personalized treatments, growing awareness of medical technology advancement, and expanding research in the cancer cell.  The UK is the fastest growing market in Europe region.

Asia Pacific is expected to witness the highest growth rate in the forecast period. This is due to increasing public awareness of health, government initiatives and the rising ageing population. Also, China holds the largest market share in generic pharmaceuticals and India is the fastest-growing market in the Asia Pacific region.

Key questions answered by this report.

1. Top market players contributing to the revenue?
2. Trending strategies by the players?
3. Which region will be the leading one in the forecast period?
4. Factors that drive the Global Home Healthcare Market?
5. What will be the Global Home Healthcare Market?
6. How Covid-19 pandemic impact the growth of the Global Generic Pharmaceuticals Market?
7. Which Segment accounted for the Global Generic Pharmaceuticals Market shares?

 

Frequently Asked Questions (FAQ) :