Generic Drugs Market Recent Industry Trends, Share and Forecast 2028

 

Generic Drugs Market Insights:

In a recent research report by Market Research Community, the Generic Drugs Market is expected to surpass USD 667.3 Billion by the year 2028, from USD 412.2 Billion in 2021.

The Generic Drugs Market Share is projected to grow at a significant pace reaching a CAGR of approximately 5.5%, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of the pandemic spread and lockdown restrictions imposed globally.

A generic drug is a medication that is equivalent to a brand-name product in dosage, strength, route of administration, quality, and intended use, but does not carry the brand name. Generic drugs are cheaper than the brand-name version and are just as safe and effective. They can be used to treat the same conditions as brand-name drugs and are available only after the brand-name drug's patent has expired.

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The study is consolidated into major segments and further into sub-segments, such as By Class (Analgesics, Antibiotics, Antidiabetic, Antihypertensive Antihistamines, Antipyretics, and Others), By Route of Administration (Topical, Injectable, Oral, and Others), By Therapeutic Application (Cardiovascular, Respiratory, Central nervous system (CNS), Oncology, Dermatology, and Others), to forecast the market size by value.

By Class

·        Analgesics, Antibiotics, Antidiabetic, Antihypertensive Antihistamines, Antipyretics, and Others

By Route of Administration

·        Topical, Injectable, Oral, and Others

By Therapeutic Application      

·        Cardiovascular, Respiratory, Central nervous system (CNS), Oncology, Dermatology, and Others

By Distribution Channel 

·        Drug Stores, Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies

Generic Drugs Market Includes Key Players:

·        Novartis AG

·        Fresenius SE & Co. KGaA

·        Aurobindo Pharma Limited

·        Lupin Ltd.

·        Cipla Inc.

·        Pfizer Inc.

·        Sun Pharmaceutical

·        Viatris Inc.

·        Teva Pharmaceutical Industries Ltd.

·        Aspen Holdings

·        Apotex Inc.

·        Reddy’s Laboratories

Generic Drugs Market Growth, and Asian nations are steadily emerging as a result of government policies that are favorable to this market and growing public understanding of the advantages of these systems. Further, regions such as the Latin America, and Europe Middle East and Africa, are expected to boost the market expansion during the forecast period.

By Region

•                    Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)

•                    Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)

•                    North America– (U.S., Canada, Mexico)

•                    Latin America- (Brazil, Argentina, Chile, Rest of Latin America)

•                    Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA)

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