Press Release

United States Generic Drug Market to Grow at a CAGR of 12% During 2024-2032, Aided by the Generic Drug Approvals and Rising Chronic Diseases

United States Generic Drug Market

According to a new report by EMR titled, ‘The United States Generic Drug Market Report and Forecast 2024-2032’, the market reached a value of about USD 163.68 billion in 2023. The market is further expected to grow at a CAGR of 12% in the forecast period of 2024-2032 to reach nearly USD 453.98 billion by 2032.

In recent years, the United States has witnessed a surge in generic drug approvals, attributed to the FDA's Drug Competition Action Plan aimed at eliminating barriers for generic drug manufacturers. According to the Food and Drug Administration, 956 generic drugs were approved or tentatively approved in the United States in 2023. Additionally, the USFDA authorised the Generic Drug User Fee Amendments (GDUFA) in 2017 to enhance the production and approval processes. GDUFA II allows manufacturers to pay user fees, providing the FDA with additional resources for generic drug reviews. Government initiatives further encourage physicians and pharmacists to promote generic substitution. Furthermore, the upcoming expiration of patents for several brand-name medicines is expected to positively impact the United States generic drug market.


The United States leads the global market for generic drugs due to rigorous evaluations by regulatory bodies ensuring high-quality manufacturing processes. Generic medicines are increasingly produced in the US for their cost-effectiveness and streamlined development without extensive research. They contribute to healthcare system improvement by enhancing patient care and generating savings for various stakeholders. The market is growing rapidly driven by increasing chronic diseases not just in the United States but globally, including diabetes, cardiovascular diseases, respiratory, dermatology and Parkinson's. In 2021, over 32.22 million people in the USA had diabetes and the number is expected to reach 36.29 million by 2045.


United States Generic Drug Market

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Market Breakup by Type, Therapy Area, Drug Delivery, and Distribution Channel:

  • The market is bifurcated into unbranded and branded based on type.
  • Based on the therapy area, the market can be divided into CNS, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, and oncology, among others.
  • Based on drug delivery, the market is divided into oral, injectables, dermal/topical, and inhalers, among others.
  • By distribution channel, the market is segmented into retail pharmacies and hospital pharmacies.


Key Findings of the Report:

  • The United States has experienced a notable increase in generic drug approvals, largely due to initiatives such as the FDA's Drug Competition Action Plan and the Generic Drug User Fee Amendments (GDUFA). In 2023 alone, 956 generic drugs were approved or tentatively approved.
  • Efforts to promote generic substitution by physicians and pharmacists contribute to the expansion of the generic drug market.
  • Generic drugs are valued for their affordability and streamlined development processes, as they do not require extensive research like brand-name medications. They play a vital role in improving patient care and generating savings for healthcare stakeholders, contributing to the overall healthcare system improvement.
  • The increasing prevalence of chronic diseases globally, including cardiovascular diseases, Alzheimer's, diabetes, and Parkinson's, is driving the growth of the generic drug market. With conditions like diabetes projected to affect millions more in the coming years, there is a growing need for accessible and cost-effective medications.


Key Offerings of the Report:

  • The EMR report gives an overview of the United States generic drug market for the periods (2017-2023) and (2024-2032).
  • The report also offers historical (2017-2023) and forecast (2024-2032) market information for the type, therapy area, drug delivery, and distribution channel of the generic drug market.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.


The major players in the United States generic drug market are Teva Pharmaceuticals USA, Inc., Sandoz Inc., Sun Pharmaceutical Industries Ltd., Lupin Pharmaceuticals, Inc., Par Pharmaceutical, and Endo Pharmaceuticals, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.


Key Highlights of the Report

Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Therapy Area
  • Drug Delivery
  • Distribution Channel
Breakup by Type
  • Unbranded
  • Branded
Breakup by Therapy Area
  • CNS
  • Cardiovascular
  • Dermatology
  • Genitourinary/Hormonal
  • Respiratory
  • Rheumatology
  • Diabetes
  • Oncology
  • Others
Breakup by Drug Delivery
  • Oral
  • Injectables
  • Dermal/Topical
  • Inhalers
  • Others
Breakup by Distribution Channel
  • Retail Pharmacies
  • Hospital Pharmacies
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Teva Pharmaceuticals USA, Inc.
  • Sandoz Inc.
  • Sun Pharmaceutical Industries Ltd.
  • Lupin Pharmaceuticals, Inc.
  • Par Pharmaceutical
  • Endo Pharmaceuticals
  • Others


About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.


EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.


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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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