Generic Drugs Market Report 2022: Aging Population and Increasing Incidences of Chronic Diseases Driving Growth -ZMR
Generic Drugs Market
Generic Drugs Market region
The global Generic Drugs market accounted for USD 515.0 billion in 2020 and is expected to reach USD 1,042.1 billion by 2028
SUITE N202, NEW YORK, UNITED STATES, October 6, 2022 /EINPresswire.com/ -- The global Generic Drugs market accounted for USD 515.0 billion in 2020 and is expected to reach USD 1,042.1 billion by 2028, growing at a CAGR of around 9.4% between 2021 and 2028.
The report covers forecast and analysis for the Generic Drugs market on a global and regional level. The study provides historic data of 2016 along with a forecast from 2021 to 2028 based on revenue (USD Billion). The study includes drivers and restraints for the Generic Drugs market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Generic Drugs market on a global level.
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This report offers comprehensive coverage on global Generic Drugs market along with, market trends, drivers, and restraints of Generic Drugs market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the Generic Drugs market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared by using data sourced from in-house databases, secondary and primary research team of industry experts. Research analysts and consultants cooperate with leading companies of the concerned domain to verify every value of data exists in this report.
The study provides a decisive view on the Generic Drugs market by segmenting the market based on type of brand, application, and regions. All these segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2028. The brand covered under this study includes pure generic drugs and Branded generic drugs.
The application based market covered under this study includes Central nervous system (CNS), Cardiovascular, Dermatology, Oncology, Respiratory, and Others.
The market of the generic drug has been segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. North America is dominating the generic drug market due to high demand and increasing the prevalence of chronic diseases. Asia-Pacific is expected to show good growth in the forecast period. In Asia Pacific, India and China are leading countries in the genetic drug market.
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Browse the full “Generic Drugs Market by Brand (Pure generic drugs, Branded generic drugs) By Application (Central nervous system (CNS), Cardiovascular, Dermatology, Oncology, Respiratory, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
COVID-19 Impact Analysis:
The pandemic has led to increase the demand for drugs and APIs, those used against malaria are most in the demand and then antibiotics and antivirals. A second wave of deficiency is observed among various diseases patients which is needed to care. As the pandemic progresses, the manufacturer of generic drugs work around the clock to ensure American patients have access to drugs they need.
Growth Factors
Globally, the market for the generic drug has been propelled by new government initiatives to produce generic drugs and mainly to promote the use of generic drugs against chronic diseases. Patent expiration of branded drugs is one of the key influencers for the growth and prime reason for generating more revenue for generic drugs market. Moreover, new emerging markets of developing countries and low cost of generic drugs are majorly responsible for thickening the growth of generic drugs market.
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By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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