FEATURED COMPANIES
- Abbott Laboratories
- Baxter International Inc.
- F. Hoffmann-La Roche AG
- H. Lundbeck A/S
- Novartis International AG
- Sanofi-Aventis U.S. LLC
Global Generic Drugs Market to Reach $507.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Generic Drugs estimated at US$365.9 Billion in the year 2020, is projected to reach a revised size of US$507.8 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. Small-Molecule Generics, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$325.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Biosimilars segment is readjusted to a revised 6.3% CAGR for the next 7-year period. This segment currently accounts for a 37.7% share of the global Generic Drugs market.
The U.S. Market is Estimated at $116.2 Billion in 2021, While China is Forecast to Reach $91.2 Billion by 2026
The Generic Drugs market in the U.S. is estimated at US$116.2 Billion in the year 2021. The country currently accounts for a 30.46% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$91.2 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$97.6 Billion by the close of the analysis period.
The market is expected to be driven by the steadily rising risk of various chronic diseases such as hypertension, obesity and diabetes. Though pharma companies continue to develop branded drugs due to the dearth of new blockbuster drugs coming into the marketplace, generic drugs are expected to continue meeting the majority of these therapeutic needs of the population, especially the expanding elderly population. With high cost of branded medication becoming a financial burden for people, efforts have intensified to develop cost effective generic variants. Several branded drugs are unable to extend their exclusivity leading to loss of patents and giving way to the manufacture of affordable generics. Major application areas for generic drugs include cardiology, anti-infection, anti-arthritis, CNS, anti-cancer and respiratory among others. Generic drugs for CVDs represent the dominant segment currently, accounting for majority share in the overall market. Cardiovascular diseases such as heart failure, high BP, circulatory disorders, dyslipidemia, cholesterol, arrhythmias, stroke and angina are the major causes of global deaths. The cardiovascular segment is expected to cover a larger part of the global generic drug market owing to several patent expirations of these drugs. Generic drugs for infectious diseases would gain much traction over the coming years mainly because of increasing number of cases worldwide. The COVID-19 pandemic emerged as a significant growth driver for generic drugs market over the past one year. As economies of nations crashed because of increasing unemployment, the demand for cheaper substitutes of branded drugs increased.
Select Competitors (Total 42 Featured) -
- Abbott Laboratories
- Apotex Inc.
- ASKA Pharmaceutical Co., Ltd.
- Aspen Pharmacare Holdings Limited
- AstraZeneca Plc
- Baxter International Inc.
- Dr. Reddy’s Laboratories Limited
- Eli Lilly and Company
- Endo International plc
- Fresenius Kabi
- GlaxoSmithKline Plc.
- H. Lundbeck A/S
- Hospira
- Lupin Pharmaceuticals, Inc.
- Mylan N.V.
- Novartis International AG
- Novo Nordisk A/S
- F. Hoffmann-La Roche AG
- Sandoz International GmbH
- Sanofi-Aventis U.S. LLC
- STADA Arzneimittel AG
- Sun Pharma
- Teva Pharmaceutical Industries Ltd.
Frequently Asked Questions about the Global Market for Generic Drugs
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FEATURED COMPANIES
- Abbott Laboratories
- Baxter International Inc.
- F. Hoffmann-La Roche AG
- H. Lundbeck A/S
- Novartis International AG
- Sanofi-Aventis U.S. LLC
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
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A selection of companies mentioned in this report includes:
- Abbott Laboratories
- Apotex Inc.
- ASKA Pharmaceutical Co., Ltd.
- Aspen Pharmacare Holdings Limited
- AstraZeneca Plc
- Baxter International Inc.
- Dr. Reddy’s Laboratories Limited
- Eli Lilly and Company
- Endo International plc
- Fresenius Kabi
- GlaxoSmithKline Plc.
- H. Lundbeck A/S
- Hospira
- Lupin Pharmaceuticals, Inc.
- Mylan N.V.
- Novartis International AG
- Novo Nordisk A/S
- F. Hoffmann-La Roche AG
- Sandoz International GmbH
- Sanofi-Aventis U.S. LLC
- STADA Arzneimittel AG
- Sun Pharma
- Teva Pharmaceutical Industries Ltd.
Note: Product cover images may vary from those shown