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Thursday, June 24, 2021

Global Generic Drugs Market to be Driven by Rising Cardiometabolic Risk Factors Across the Globe in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Generic Drugs Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Global Generic Drugs Market, assessing the market based on its segments like drug delivery, applications, distribution channel and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 370 Billion
  • Forecast CAGR (2021-2026): 5.5%
  • Forecast Market Size (2026): USD 510 Billion

The substantial increase in cardiometabolic risk factors among the population is driving the global generic drugs market. Furthermore, diabetes, dyslipidaemia, hypertension, metabolic syndrome, and obesity are becoming more common because of various factors such as changing dietary habits, sedentary lifestyles, and hectic work schedules. This has resulted in a major increase in the uptake of medicines, accelerating the industry’s growth.

Industry Definition and Major Segments

Based on efficacy, strength, consistency, durability, effects, intended usage, dosage type, and route of administration, generic drugs are referred to as the bioequivalent of brand-name drugs. These medications have been shown to be safe and successful in the same way as their brand-name counterparts have been. Generic drug manufacturers are not expected to invest in drug discovery, production, or marketing, which makes these drugs more affordable and contributes to their popularity.

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Based on application, the generic drugs market is divided into:

  • CNS
  • Cardiovascular
  • Dermatology
  • Genitourinary/Hormonal
  • Respiratory
  • Rheumatology
  • Diabetes
  • Oncology
  • Others

Based on drug delivery, the industry is segmented into:

  • Oral
  • Injectables
  • Dermal/Topical
  • Inhalers

Based on distribution channel, the industry is categorised into:

  • Retail Pharmacies
  • Hospital Pharmacies

Based on region, the market is divided into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The global generic drugs market is boosted by the high prices associated with the treatment of numerous chronic and lifestyle disorders, which has led to a shift in customer preference for lower-cost alternatives, boosting demand even further. Apart from that, the industry is expected to expand due to the patent expiration of key blockbuster drugs, as well as a range of favourable steps taken by governments in several countries to promote the use of generic drugs. Several regulatory authorities are conducting thorough investigations to ensure that these drugs are manufactured to the highest possible standards.

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Key Market Players

The major players in the market are Teva Pharmaceutical Industries Ltd., Mylan N.V., Novartis AG, Sun Pharmaceutical Industries Ltd., and Fresenius Kabi AG. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

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Contact Person:-Ian Bell, Business Consultant
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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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