Global Generic Medicines Market Report 2022-2026

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World generic drug market

Global generic drug market
World generic drug market

Dublin, August 12, 2022 (GLOBE NEWSWIRE) — The “Generic medicine: evaluation and trajectory of the world market” Report has been added to ResearchAndMarkets.com providing.

The worldwide generic drug market will attain $507.8 billion by 2026

Amid the COVID-19 disaster, the worldwide generic medicines market, estimated at USD 402.9 billion in 2022, is projected to succeed in a revised measurement of USD 507.8 billion in 2026, with compound development annual fee of 5.6% through the evaluation interval.

A key benefit for generic drug producers is that they don’t must spend money and time on drug R&D and advertising and marketing efforts, so generic medicine are priced considerably decrease than their brand-name counterparts.

Small molecule generics, one of many segments analyzed within the report, are forecast to develop at a CAGR of 5.2% to succeed in $325.7 billion by the top of the evaluation interval. After a radical evaluation of the enterprise implications of the pandemic and its induced financial disaster, development within the Biosimilars section is reset to a revised CAGR of 6.3% for the following 7-year interval.

This section presently represents a 37.7% share of the worldwide Generic Medicines market. With a number of growth-enhancing components contributing to elevated uptake, biosimilars are poised to extend their share of the worldwide generic drug market within the coming years. The rise of biosimilars, specifically, has lowered general drug spending lately, a pattern that’s anticipated to proceed for the foreseeable future.

The looks of biosimilars available in the market is producing elevated competitors, the following era of biologics in improvement goals to enhance security, efficacy and value components in comparison with earlier era medicine, additional rising the aggressive warmth available in the market.

The US market is estimated at $121.8 billion in 2022, whereas China is forecast to succeed in $91.2 billion by 2026

The generic drug market within the US is estimated at US$121.8 billion within the yr 2022. Presently, the nation represents a 30.46% share of the worldwide market. China, the world’s second largest financial system, is forecast to succeed in an estimated market measurement of US$91.2 billion within the yr 2026, with a CAGR of seven.2% over the evaluation interval.

Different notable geographic markets embody Japan and Canada, every forecasting development of three.8% and 5%, respectively, over the evaluate interval. Inside Europe, Germany is forecast to develop at roughly 4.3% CAGR, whereas the Remainder of Europe market (as outlined within the research) will attain $97.6 billion by the top of the evaluation interval.

The market is anticipated to be pushed by the rising threat of varied continual illnesses corresponding to hypertension, weight problems and diabetes. Though pharmaceutical firms proceed to develop brand-name medicine as a result of shortage of latest blockbuster medicine coming into the market, it’s anticipated that generic medicine will proceed to fulfill nearly all of these therapeutic wants of the inhabitants, particularly the rising aged inhabitants.

Because the excessive value of brand-name medicine turns into a monetary burden on folks, efforts to develop cost-effective generic variants have intensified. A number of model identify medicine can’t prolong their exclusivity, resulting in lack of patents and making means for reasonably priced generic manufacturing. The principle areas of utility of generic medicine embody cardiology, anti-infective, anti-arthritis, CNS, anti-cancer and respiratory, amongst others.

Generic medicine for heart problems characterize the dominant section right this moment, accounting for almost all share of the general market. Cardiovascular illnesses corresponding to coronary heart failure, hypertension, circulatory problems, dyslipidemia, ldl cholesterol, arrhythmias, stroke and angina are the main causes of dying on the earth.

The cardiovascular section is anticipated to cowl a bigger share of the worldwide generic drug market because of varied patent expirations on these medicine. Generic medicines for infectious illnesses would acquire loads of traction within the coming years, primarily as a result of improve within the variety of circumstances around the globe.

The COVID-19 pandemic emerged as a significant development driver for the generic drug market over the previous yr. As nations’ economies collapsed because of rising unemployment, the demand for cheaper substitutes for brand-name medicine elevated.

What’s new for 2022?

  • World competitiveness and proportion market shares of key opponents
  • Market presence throughout a number of geographies – Robust/Energetic/Area of interest/Trivial
  • Peer-to-Peer On-line Interactive Tailor-made Updates
  • Entry to digital recordsdata
  • Free updates for one yr

Key Subjects Lined:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. OVERVIEW OF THE MARKET

  • Generic Medicines – Market Share Proportion of World Key Rivals in 2022 (E)
  • Progress in vaccines, why ought to firms care?
  • These are occasions when questions abound and solutions are few.
  • With the IMF’s world GDP forecasts for 2021 being revised upwards, most firms are optimistic a few world financial restoration.
  • A powerful 2021 financial rebound based mostly on pent-up demand comes as a aid to struggling industries and markets
  • How has the well being trade been and continues to be affected by the pandemic and what’s the new regular?
  • With the COVID-19 pandemic exposing world well being care unpreparedness, there’s an rising policy-driven method to rebooting well being methods around the globe: Present and Required Well being Care Spending as % of GDP
  • Impression of the COVID-19 disaster on the generic drug market
  • Elevated demand for generic painkillers
  • A prelude to generic medicine
  • Generic drug market poised for fast development
  • US dominates, Asia-Pacific will present quickest development
  • India: an vital market
  • market restrictions
  • Competitors
  • Latest Market Exercise

2. FOCUS ON SELECT PLAYERS (Complete 42 Featured)

  • Abbott Laboratories
  • apotex inc.
  • ASKA Pharmaceutical Co., Ltd.
  • Aspen Pharmacare Holdings Restricted
  • AstraZeneca Plc
  • Baxter Worldwide Inc.
  • Dr. Reddy Laboratories Restricted
  • Eli Lilly and firm
  • endo worldwide plc
  • Fresenius Kabi
  • GlaxoSmithKline Plc.
  • H. Lundbeck A/S
  • Hospira
  • Lupine Prescribed drugs, Inc.
  • Mylan N.V.
  • Novartis Worldwide AG
  • Novo Nordisk A/S
  • F. Hoffmann-La Roche AG
  • Sandoz Worldwide GmbH
  • Sanofi-Aventis US LLC
  • STADA Arzneimittel AG
  • photo voltaic pharmaceutical
  • Teva Pharmaceutical Industries Ltd.

3. MARKET TRENDS AND DRIVERS

  • Patent Expirations Set to Increase Addressable Generic Drug Market
  • Chosen Drug Patent Expirations in 2020
  • Chosen drug patent expirations in 2021
  • Chosen drug patent expirations in 2022
  • Choose Main Drug Patent Expirations within the US: 2020-2022
  • Robust demand for pharmaceutical medicine drives demand for generic medicine
  • Price containment measures concentrate on generics
  • Small molecule generics characterize the dominant section
  • Elevated demand for biosimilars, pushed by the expiration of patents of the primary biopharmaceutical medicines
  • Patent Expirations for Main Biopharmaceutical Medication within the US and Europe
  • Progressive regulatory framework accelerates product approvals and subsequently market revenues
  • Particular tips for biosimilars in varied international locations with yr of publication
  • Biosimilar regulatory companies in chosen regional markets
  • Biosimilar approvals within the US (as of February 2021)
  • Biosimilar approvals in Europe (as of January 2021)
  • Rising healthcare prices drive demand for generic medicine
  • The getting old of the inhabitants will increase the demand for generic medicine
  • Rising prevalence of continual illnesses drives demand for generic medicine
  • World value of continual illnesses (in billions of US {dollars}) for the years 2018 and 2030
  • Coronary heart Illness Deaths – Estimated Proportion Breakdown by Cardiovascular Illness, Ischemic Coronary heart Illness, Stroke, and Others

4. WORLD MARKET OUTLOOK

third ANALYSIS OF THE REGIONAL MARKET

IV. COMPETITION

For extra data on this report, go to https://www.researchandmarkets.com/r/q8s3o4

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