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Booming US Generic Drug Market
RNCOS E-Services Private Limited, Aug 2008, Pages: 70
The growth of generics markets in the US is in full swing. Realizing its importance in minimizing the healthcare cost, government is also taking initiative to promote this market. Over the past ten years (1999-2008), the generic drugs have saved US$ 734 Billion for the American healthcare system. With patents of several blockbuster drugs expiring in next 3-4 years, generic drugs sector of the US presents a promising and availing opportunity for big pharma players from Europe, Asia and other regions to invest.
The US generics market is forecasted to grow at a CAGR of around 9.2% during 2010-2012, says our recent research report “Booming US Generic Drug Market”. Currently, the market is characterized by the emergence of new products as patents of branded drugs are getting expired. This trend is likely to continue in next few years. Anticipating the future growth, big pharma players are making deals with some generics manufactures from Asian countries, like India, to access their products and market them in the US.
We have discovered that generics market is expected to grow more strongly due to global economic downturn. The people are buying more generic products in order to cut their healthcare cost. Although several challenges, such as price erosion and litigations from branded manufacturers, may hamper the growth, the overall growth prospects of the market remain good. In this regard, our report provides rational analysis of various factors which will drive this market segment over the forecasted period.
The report also provides extensive information on the generics market in the US, besides discussing the emerging trends like contract manufacturing and biogenerics. Thus, it provides valuable information to pharmaceutical & generics companies and investors looking to enter this market. Analysis and statistics regarding market size, growth, share, regulatory environment and trends in technology development have been thoroughly analyzed to provide clients a comprehensive overview of the market.
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