The generic drugs are defined as the medications which have the same active ingredient as that of branded drugs. They also yield the same therapeutic effect and are prescribed in the same dosing. The inactive ingredients are differ as compared to their branded counter parts. Generic drugs are mainly marketed after a patent expiry of the branded drug. These drugs are of equivalent quality as compared to the branded drugs & are manufactured under the same safety and manufacturing procedures.
The growing prevalence of chronic diseases such as cancer, diabetes, cardiovascular diseases etc., which expected to boost the global generic drugs market growth over the forecast period. The generic drugs are cheaper & equivalent to barded drugs in strength, dosage, route of administration, performance, quality, and application. Also, the increase in geriatric population positively influence the global generic drugs market growth during this forecast period. Furthermore, the increase in healthcare expenditure expected to fuel the market growth. Moreover, huge demand for generic medicine as well as a large number of patents expired branded drugs will propel the global generic drugs market growth. In addition, the growing demand for newer versions of generic drugs, and large numbers of licensing & partnering strategies to launch new products by key vendors will support the market growth in near future.
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Stringent governmental regulations and adverse effects associated with drugs are anticipated to hamper the global generic drugs market during this forecast timeframe.
The Global Generic Drugs Market is segmented into product type such as Simple Generics, Super Generics, and Biosimilars, by application such as Anti-infective Drugs, Anti-Arthritis Drugs, Central Nervous System Drugs, Respiratory Products, Anti-Cancer Drugs, and Others. Further, market is segmented into distribution channel such as Pharmacies, Private Clinics, Drug Stores, Hospitals, Retail Pharmacies, and Others.
Also, the Global Generic Drugs Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Abbott Laboratories, GlaxoSmithKline Plc., Eli Lilly and Company, Pfizer Inc, STADA Arzneimittel AG, Teva Pharmaceutical, Mylan N.V., Sandoz International, Baxter International, ALLERGAN, etc.
By Product Type
By Distribution Channel
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