Press Releases
 
Global Generic Drugs Market Growth Reach a Value of US$ 376 Billion by 2023

united states, 14 June 2018 -- Over the recent years, the global generic drugs market has witnessed a moderate growth. Some of the factors providing impetus to the market include cost-effectiveness of generic drugs, government support, low capital investment, easy availability, etc.

Generic drugs are bioequivalent of the branded drugs in terms of quality, strength, dosage and intended use. They require low capital investment as they only incur manufacturing cost, without any expenditure on drug discovery and development, advertising, distribution of free samples, etc. This leads to an overall reduction of around 40-60% in the prices of the generic drugs. Owing to this, these drugs form an important part of the public healthcare systems in both the developed and developing countries. A new research report by IMARC Group, titled “Generic Drugs Market: Global Industry Trends, Manufacturing Process, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global generic drugs market reached a value of around US$ 245 Billion in 2017. The report further anticipates the market to reach a value of US$ 376 Billion by 2023, at a projected CAGR of 7.4% over the forecast period.

Request free sample report: https://www.imarcgroup.com/request?type=report&id=549&flag=B

Global Generic Drugs Market Drivers/Constraints:

Generic drugs are as safe and effective as the brand-name drugs since they are inspected, approved and regulated by the FDA or the government of the respective nation. A surge in the awareness regarding the efficacy of these drugs has helped in propelling their demand.

The patent expiries of a number of blockbuster drugs in the recent years have further improved the growth aspects of the generic drug manufacturers worldwide.

A rise in the number of chronic diseases like diabetes, cardiovascular diseases, Parkinson’s disease, Alzheimer’s disease, etc. has increased the demand for low-cost generic drugs, particularly in regions with aging population.

There are several factors that hamper the growth of the generic drugs market. For instance, these drugs are perceived inferior by various consumers, doctors and physicians as they contain different inactive ingredients which may behave differently on consumption.

Read full report with TOC: https://www.imarcgroup.com/generic-drug-manufacturing-plant

Regional Insights:

On a geographical front, the Unites States exhibits a clear dominance in the generic drug market, accounting for the majority of the global share. Rising cases of chronic diseases, due to changing lifestyle and eating patterns, is one of the major reasons for the expansion in the demand for generic drugs. The Unites States is followed by China, Brazil, Germany and France.

Competitive Landscape:

The market is fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices. There is an intense competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:

Teva Pharmaceuticals
Novartis – Sandoz
Mylan
Freseunis
Hospira

Browse related reports:

GCC Generic Drug Market: https://www.imarcgroup.com/gcc-generic-drug-market

Generic Oncology Drug Market: https://www.imarcgroup.com/generic-oncology-drug-manufacturing-plant

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

# # #


Media Contacts:
IMARC Group
USA: +1-631-791-1145
Email:
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Document Attached Image Attached Download file at: https://www.imarcgroup.com/generic-drug-manufacturing-plant
(Right click and save file to download.)

Submitted by Imarc Group, IMARC Group on Thursday, 14 June 2018 at 2:49 PM
Category: Health Care & Medical
 
Related News

Self-monitoring Blood Glucose Market Growth Trends and Competitive Analysis 2018-2026
Tuesday, 23 Oct 2018

Self-monitoring Blood Glucose Market Growth Trends and Competitive Analysis 2018-2026
Tuesday, 23 Oct 2018

Joint Pain Injection Market Generating Healthy Revenue Opportunities
Tuesday, 23 Oct 2018

Benefits and User Guide for Trenbolone Steroids
Tuesday, 23 Oct 2018

Medical Coding Market Will Witness Substantial Growth in the Upcoming years
Tuesday, 23 Oct 2018

Related Events

92nd Annual Clinical Reviews 2018
Monday, 22 Oct 2018

2nd Annual NASH Summit Europe
Monday, 22 Oct 2018

Precision CRISPR: Drug Discovery and Gene Therapy London 2018
Monday, 22 Oct 2018

Gene Therapy for Rare Disorders Europe Summit
Monday, 22 Oct 2018

Targeted Protein Degradation Summit
Tuesday, 23 Oct 2018

Latest News

Used Car Auction in Japan by Japan Auction Access
Tuesday, 23 Oct 2018

Starch Derivatives Market: Busy Lifestyle to Propel Market Growth
Tuesday, 23 Oct 2018

Sugar Confectionery Market in Asia Pacific & Latin America–Overview of Vital Industry Drivers
Tuesday, 23 Oct 2018

Engineering Plastics market 2018 - Leading Players and Market Analysis
Tuesday, 23 Oct 2018

Ray Roots Academics – Your True Partner in Assignment Help Service
Tuesday, 23 Oct 2018

 
Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2018
Today is Tuesday, 23 October 2018

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Business
Consumer Technology
Economy
Education
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
Legal/Law
News & Media
Religion
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!


Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.


  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.


    Resources
  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • 92nd Annual Clinical Reviews 2018
  • Precision CRISPR: Drug Discovery and Gene Therapy London 2018
  • Argus Biofuels and Carbon Markets Summit
  • SMPTE 2018 Annual Technical Conference and Exhibition (SMPTE 2018)
  • 2nd Annual NASH Summit Europe

  • Latest Jobs
    Sorry, there are currently no entries posted here.