Generic Pharmaceuticals Global Market Report 2024

The generic pharmaceuticals market size has grown strongly in recent years. It will grow from $381 billion in 2023 to $402.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The historical growth can be attributed to an increase in healthcare awareness and expenditure, patent expiration of drugs, a higher prevalence of respiratory diseases, lifestyle changes, a rise in the number of surgical procedures, robust economic growth in emerging markets, expanded insurance coverage, rapid growth in the elderly population, and an increased number of approvals.

The generic pharmaceuticals market size is expected to see strong growth in the next few years. It will grow to $514.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The forecasted growth can be attributed to the increasing incidence of chronic diseases, growing regulatory support, advancements in drug discovery and delivery methods, increased healthcare expenditure, a rising geriatric population, and significant drug patents. Major trends in the forecast period include the increasing use of 3D printing, adoption of artificial intelligence (AI), utilization of biomarkers for drug development, collaborations to drive innovation, combination drug therapy, modification of existing epilepsy drugs, and the rise of generic respiratory drugs.

The increasing prevalence of chronic diseases stands out as a significant driver for the generic pharmaceuticals market. As the number of individuals diagnosed with chronic conditions rises, there is a growing demand for medications. Branded drugs often come with a premium price tag, whereas generic drugs offer the same chemical composition at a lower cost. The affordability and comparable effectiveness of generic drugs make them a preferred choice for patients, particularly for prolonged treatments associated with chronic diseases. For instance, the World Health Organization (WHO) projects a 17% increase in deaths due to chronic diseases over the next decade.

The anticipation of cost-effective treatment through generic drugs is expected to fuel the growth of the generic pharmaceutical market. Cost-effective treatment entails achieving a high level of health benefits at a reasonable cost. Generic drugs, known for their affordability, not only offer substantial cost savings for patients but also contribute to overall healthcare system savings compared to their branded counterparts. As an example, data from 2021, provided by the Association for Accessible Medicines, reveals that the average out-of-pocket cost for a generic prescription is $6.61, significantly lower than the average out-of-pocket cost of $55.82 for a brand-name drug. Consequently, the pursuit of cost-effective treatment with generic drugs is a key driver behind the growth of the generic pharmaceutical market.


The advent of 3D printing technology holds the potential to revolutionize drug manufacturing within the generic pharmaceuticals market. The utilization of 3D printing in pharmaceuticals enhances research and development (R&D) efficiency, offering novel advantages for patients. Unlikeas traditional methods of generic drug manufacturing, 3D printing enables the production of drugs with customized sizes, shapes, and textures. This technology empowers manufacturers to create generic drugs with diverse release dates, appearances, and tastes. For example, GlaxoSmithKline (GSK) conducted a study incorporating ultraviolet (UV) and 3D printing to manufacture tablets for treating Parkinson's disease. Martin Wallace, the director of GSK Technology, expressed the company's commitment to investing in 3D printing for pill and tablet production. Additionally, Aprecia, a pharmaceutical company, introduced 'ZipDose' technology, specializing in the manufacture of 3D-printed drugs.

Leading companies in the generic pharmaceuticals market are actively introducing new products to maximize their market share and profits. The introduction of generic pharmaceutical products involves launching a generic version of a brand-name drug. For instance, in July 2023, Amneal Pharmaceuticals Inc., a publicly traded generics and specialty pharmaceutical company based in the United States, released its authorized generic for Xyrem 1 (Sodium Oxybate) oral solution CIII in the U.S. Sodium oxybate oral solution, 0.5 g/mL, is a central nervous system depressant prescribed for narcoleptic patients aged seven and older experiencing cataplexy or excessive daytime sleepiness (EDS).

In April 2021, Hikma Pharmaceuticals PLC, a UK-based manufacturer of non-branded generic and in-licensed pharmaceutical products, acquired Custopharm Inc. for $425 million. This strategic acquisition enhances Hikma's distinctive U.S. portfolio, with nearly 130 commercialized injectable medications - a more than fivefold increase over the past decade - and strengthens the company's research and development capabilities and pipeline. Custopharm Inc. is a U.S.-based developer of generic pharmaceuticals.

Major companies operating in the generic pharmaceuticals market report are Teva Pharmaceutical Industries Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Fresenius Kabi, Aurobindo Pharma Limited, Cipla Limited, Stada Arzneimittel AG, Lupin Pharmaceuticals, Inc., Dr. Reddy's Laboratories, Mylan Inc., Shanghai Generic Pharmaceuticals, Shanghai Acebright Generic Pharmaceuticals Group Co., Ltd., Sandoz, Glenmark, Kent Pharma, GlaxoSmithKline (GSK), Zentiva, Sanofi, Merck & Co., Apotex, Pfizer, Gilead Sciences, Roche, Bayer, AbbVie Inc., AstraZeneca, Amgen, Abbott Laboratories, Janssen Pharmaceutica, Accord Healthcare Inc., Acerus Pharmaceutical Drugs Corporation, AA Pharma Inc., Sanfer, LABORATORIOS SENOSIAIN SA DE CV (Senosiain), Siegfried Rhein, Johnson and Johnson, Bristol Myers Squibb, Eli Lilly & Company, Biogen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Boehringer Ingelheim, Mantecorp Farmasa, Libbs, Cimed, FQM Grupo, Spimaco, Jamjoom Pharma, Tabuk Pharmaceutical Manufacturing, Jazeera Pharmaceutical Industries, Adcock Ingram, Eurolab, Ranbaxy (Pty) Ltd., Aspen.

North America was the largest region in the generic pharmaceuticals market in 2023. Middle East is expected to be the fastest-growing region in the generic pharmaceuticals market report during the forecast period. The regions covered in the generic pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generic pharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The three primary types of generic pharmaceuticals are biosimilars and generics. Biosimilars are biological products closely resembling a reference biologic, demonstrating no clinically significant differences in safety, purity, or potency. These drugs are administered through various methods, including oral, injectable, dermal/topical, and inhalers, catering to therapies such as CNS, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, biosimilars, and oncology. Distribution channels encompass hospital pharmacies, retail pharmacies, and online pharmacies.

The generic pharmaceuticals market research report is one of a series of new reports that provides generic pharmaceuticals market statistics, including generic pharmaceuticals industry global market size, regional shares, competitors with a generic pharmaceuticals market share, detailed generic pharmaceuticals market segments, market trends and opportunities, and any further data you may need to thrive in the generic pharmaceuticals industry. The generic pharmaceuticals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The generic pharmaceuticals market consists of sales of paracetamol, cefixime, amoxicillin, and ofloxacin. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.