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.
Almost 75% of the deaths in 2020 were because of chronic diseases, as per the World Health Organization (WHO). Among the diseases, the deadliest were ischemic heart disease, diabetes, cancer, and stroke.
This is to be a major factor to propel 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. This is because branded drugs are often expensive, which is why a large number of people in developing countries are not able to purchase them.
Generic drugs, on the other hand, 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
4.1.2 By Application
220.127.116.11 Neurological diseases
18.104.22.168 Cardiological diseases
22.214.171.124 Metabolic diseases
126.96.36.199 Infectious diseases
188.8.131.52 Orthopedic diseases
184.108.40.206 Respiratory diseases
220.127.116.11 Genitourinary/hormonal diseases
4.1.3 By Route of Administration
4.1.4 By Distribution Channel
4.2 Market Dynamics
18.104.22.168 Shift in preference toward generic drugs
22.214.171.124 Increasing product launches
126.96.36.199 Rising number of collaborations and partnerships
188.8.131.52 Increasing number of mergers and acquisitions
184.108.40.206 Increasing ageing population
220.127.116.11 Patent expiration of blockbuster drugs
18.104.22.168 Growing prevalence of acute and chronic diseases
22.214.171.124 Rising R&D expenditure of biotech and pharma companies
126.96.36.199 Impact analysis of drivers on market forecast
188.8.131.52 High marketing of branded drugs overshadows generics
184.108.40.206 Preference of physicians toward branded drugs
220.127.116.11 Impact analysis of restraints on market forecast
18.104.22.168 Supportive regulations for generics
4.3 Impact of COVID-19
4.3.1 Supply Side Analysis
22.214.171.124 Current scenario of major manufactures and exporters of generic products
126.96.36.199 Situation of lockdown and workforce availability
188.8.131.52 Production scenario
184.108.40.206 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
11.2 Major Players and Their Offerings
Chapter 12. Company Profiles
Dr. Reddy’s Laboratories Ltd.
Alkem Laboratories Limited
Teva Pharmaceutical Industries Limited
Endo International plc
Aurobindo Pharma Limited
STADA Arzneimittel AG
Hikma Pharmaceuticals plc
Sawai Pharmaceutical Co. Ltd.
Piramal Enterprises Ltd.
Torrent Pharmaceuticals Ltd.
Amneal Pharmaceuticals Inc.
Taro Pharmaceutical Industries Ltd.
Perrigo Company plc
Nichi-Iko Pharmaceutical Co. Ltd.
Glenmark Life Sciences Limited
Amphastar Pharmaceuticals Inc.
Cadila Healthcare Ltd.
Bausch Health Companies Inc.
For more information about this report visit https://www.researchandmarkets.com/r/f5vapb
View source version on businesswire.com: https://www.businesswire.com/news/home/20210602005591/en/
Laura Wood, Senior Press Manager
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