+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Generic Drugs Market - Growth, Trends, COVID 19 Impact, and Forecasts (2021 - 2026)

  • ID: 5318624
  • Report
  • April 2021
  • Region: Global
  • 135 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Abbott Laboratories
  • Abbvie (Allergan)
  • Baxter International Inc.
  • Eli Lilly and Company
  • GlaxoSmithKline Plc.
  • Mylan N.V.
The Global Generic Drugs market is valued at approximately USD 263 billion in 2020 and is expected to witness a revenue of USD 385 billion in 2026, with a CAGR of 6.58% over the forecast period.

The outbreak of COVID 19 showed an impact on the global generic drugs market because hospitals, healthcare services, drug manufacturers were significantly reduced due to social distancing measures taken by the government across the globe. The offices were not functioning properly, as it was work from home. COVID 19 has put a direct impact on both supply and demand, and also created disruption in the supply chain also, as many drugs couldn't able to reach the market on time. Although the impact of COVID 19 in the pharmaceutical industry was a bit lesser than the other industry, still it has harmed in some ways. Many clinical trials were delayed due to this pandemic as researchers were not permitted to visit the laboratories and continue those ongoing trials, if there were no disruption happened then those molecules will come into the market as a patented molecule and will go off the patient and hence this will increase the generic drug market in forecasted periods. Due to the problems in supply and demand many pharma manufacturing companies has taken a hit in terms of loss. Hence from this it is evident that COVID 19 has put negative impact in global generic drugs market.

As global generic drugs market is very big and it will continue to rise up in the forecasted period, the reasons which are attributed for this growth are-Inreasing prevalence of chronic disease, increase in geriatric population, increasing healthcare expenditure. Everyyear there is a significant increase in the number of chronic cases be it Central nervous system, Cardiovascular disease, Oncology (according to National Cancer Institute there are more than 18 million cases detected on 2020), Diabetes (according to European Society of Cardiology, every seven seconds someone is loosing his/her to diabetes), and several other disease as well, hence the more number of people will be intaking the generic drugs. As many North American and Asia-Pacific countries are facing an issue of rise in geriatric population, which will also increase the demand of the generic drugs, as older oeople need more drugs because of comorbidities and few other factors. Due to the prevalence of chronic disorders, government and many pharma players are increasing their expenditure in R&Ds for the new molecules and also the advancement in the present technology, so that more patients issue can be addressed. Hence from all these qualitative data it is clearly visible that the global market of generic drugs will increase significantly in the forecasted period.

Key Market Trends

Injectable Segment is Expected to Witness a major Share in the Studied Market Over the Forecast Period

Tablets, capsules, pills are not the only way to administer the drug in the body, the injectable is another way of administration of the drug, and this is considered to be the most effective way, as the bioavailability of the drug through this route is higher than the other routes. Nowadays new advancements are happening in this injectable segment. Through this route, the drug takes less time to react. Recent developments in needle-free injectors have helped its growth. For instance, Bespak Europe Limited works closely with its biopharmaceutical partners to develop a customized device for the needs of specific patient groups. Moreover, the prevalence of diabetes, cardiovascular problems, cancer, and several other chronic diseases will help the injectables to grow more in the forecast period.

Moreover, based upon the application segment, Cardiovascular drugs are contributing more in generating the overall revenue from generic drugs, as Cardiovascular disease cases are increasing year on year globally which includes- heart failure, high blood pressure, high cholesterol, angina, stroke, and few others are also involved. The rise in Cardiovascular cases is due to lack of physical exercises, food habits which contain mostly fat and sugar, some other reasons are also involved. As the Cardiovascular cases will rising, hence the demand for their therapy will also rise, so the market will grow significantly in the forecasted period.

North America Dominated the overall Market and is Expected to Retain its Dominance

North America holds the maximum share when it comes to revenue generation from generic drugs. The reason for this high revenue is due to the presence of many players in the North American countries and they are kept on focusing on the introduction of new products and the market and also the prescription pattern in the US, which consists of mainly branded generic drugs. Hence the global generic drugs market will tend to grow here in the forecast period.

Asia-Pacific has shown the fastest growing trend in the global generic market owing to increased awareness among the people related to any disorder, the rise in population can also be attributed to the increase in demand for generic drugs. Countries like India, China in Asia-Pacific contribute more than the other nations.

India is the major supplier of generic drugs to the US and European countries. According to FDA's recent report, there are around 40 leading generic pharmaceutical companies in India. Indian has many pharmaceutical companies which manufacture a large number of generic drugs e.g- Alkem Laboratories, Sun Pharma, Aurobindo Pharma Limited, several others are also there. Hence the market for global generic drugs will tend to increase in the forecast period.

Competitive Landscape

The Global Generic Drugs Market is highly competitive with many players dominating the market. The presence of major players such as- Mylan N.V., Abbott Laboratories, Abbive (Allergan), Eli Lilly and Company, GlaxoSmithKline plc, Pfizer Inc, Sun Pharma, Novartis, and Sanofi among others is intensifying the competition. The market players are adopting strategies such as rising R&D investment, mergers, acquisitions, and product innovations, in order to sustain the increasing market rivalry.

In February 2021- Sandoz, a division of Novartis, has struck a deal to acquire GlaxoSmithKline's cephalosporin antibiotic business, to reinforce Novartis's global position in the antibiotic segment.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • Abbvie (Allergan)
  • Baxter International Inc.
  • Eli Lilly and Company
  • GlaxoSmithKline Plc.
  • Mylan N.V.
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Rise in Geriatric Population
4.2.3 Increase in Healthcare Expenditure
4.3 Market Restraints
4.3.1 Stringent Government Regulations
4.3.2 Adverse Effects Associated with the Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Route of Administration
5.1.1 Oral
5.1.2 Topical
5.1.3 Injectable
5.1.4 Others
5.2 By Application
5.2.1 Cardiovascular Products
5.2.2 Anti-Infective Drugs
5.2.3 Anti-Arthritis Drugs
5.2.4 Central Nervous System Drugs
5.2.5 Anti-Cancer Drugs
5.2.6 Respiratory Products
5.2.7 Others
5.3 By Distribution Channel
5.3.1 Hospitals/Clinics
5.3.2 Retail Pharmacies
5.3.3 Others
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Mylan N.V.
6.1.2 Abbott Laboratories
6.1.3 Abbvie (Allergan)
6.1.4 Teva Pharmaceutical Industries Limited
6.1.5 Eli Lilly and Company
6.1.6 STADA Arzneimittel AG
6.1.7 GlaxoSmithKline Plc.
6.1.8 Baxter International Inc.
6.1.9 Pizer Inc.
6.1.10 Sandoz Inrernational GmbH
6.1.11 Sanofi
6.1.12 Sun Pharma

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
  • Mylan N.V.
  • Abbott Laboratories
  • Abbvie (Allergan)
  • Teva Pharmaceutical Industries Limited
  • Eli Lilly and Company
  • STADA Arzneimittel AG
  • GlaxoSmithKline Plc.
  • Baxter International Inc.
  • Pizer Inc.
  • Sandoz Inrernational GmbH
  • Sanofi
  • Sun Pharma
Note: Product cover images may vary from those shown

Loading
LOADING...

Adroll
adroll