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Global Generic Drugs Market Size, Share, Growth, Trends: By Therapy Area: Cardiovascular, Dermatology, Respiratory, Oncology, Rheumatology, Others; By Route of Administration: Oral, Injectables, Dermal/Topical, Inhalers, Others; By Distribution Channels: Hospital Pharmacy, Others; Regional Analysis; Supplier Landscape 2024-2032
Global Generic Drugs Market Size
The global generic drugs market was valued at USD 370.3 billion in 2023, driven by the rising incidence of chronic diseases along with increasing drug approvals across the globe. The market is expected to grow at a CAGR of 6.8% during the forecast period of 2024-2032, with the values likely to reach USD 678.2 billion by 2032.
Global Generic Drugs Market Outlook
- The market value is expected to grow with increasing incidence of generic drug approvals. In April 2024, Zydus Lifesciences launched a generic medication, Mirabegron, extended-release tablets in strength of 25 mg for the treatment of overactive bladder in the US market.
- Asia Pacific region will undergo rapid growth in the forecast period, while North America holds the largest market share.
- Oncology to lead the market segmentation based on therapeutic areas in coming years.
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Global Generic Drugs Market Overview
Generic drugs are medications that are similar to the dosage, strength, route of administration, quality, performance, and intended use, of a drug already floating in the market under a specific brand name. The market is bolstered by the growing prevalence of chronic diseases such as cardiovascular diseases, diabetes, cancer, arthritis, and others. Moreover, the rising expenditure on drug development, patent expirations of vital medications and evolving regulatory changes are expected to boost the market value for generic drugs in the forecast period.
Global Generic Drugs Market Growth Factors
Surge in Drug Approvals Boost the Market Value
The market is poised to be propelled by the increasing number of drug approvals. For instance, in April 2024, Zydus Lifesciences launched a generic medication in the US market to treat overactive bladder. The company launched Mirabegron extended-release tablets in the strength of 25 mg. The drug has been approved by the US Food and Drug Administration (USFDA). The launch of such generic drugs, intended to make overactive bladder treatment more affordable and accessible is expected to help in the expansion overall market. This could also trigger competition among market players to manufacture more generic drugs, resulting in drugs being more cost-effective, and boosting the market demand.
In March 2024, Zydus Lifesciences, launched olaparib, a PARP inhibitor intended to treat cancer in the Indian market. The drug is available under the brand name IBYRA and targets specific genetic mutations prevalent in certain types of cancers, paving the way for a more tailored and effective treatment approach. The launch of a generic drug for this condition showcases the focus of manufacturers on entering specialised high-value areas, escalating the credibility of manufacturers in the market, and driving the market growth.
Increasing Incidence of Strategic Partnerships to Boost the Generic Drugs Market Demand
In March 2024, the Institute of Drug Technology (Farmanguinhos/Fiocruz) collaborated with Boehringer Ingelheim's Brazilian unit to develop a generic version of Jardiance®, empagliflozin, for submission to Brazil's Health Regulatory Agency (Anvisa). The partnership is targeted at enhancing accessibility to treatments for critical medical conditions such as type 2 diabetes and heart failure, improving glycemic control, and reducing risks of cardiovascular complications. The generic medication is expected to enable these therapies to be more affordable, addressing major health challenges in Brazil and potentially influencing global market dynamics.
Global Generic Drugs Market Trends
| Key Trends | Impact |
| Drug Launches | The market growth is likely to be influenced by the escalating number of drug launches by market players. The regulatory authorities such as the US Food and Drug Administration are approving generic drugs frequently which are fulfilling a crucial gap of unmet needs in the market and propels the market growth. |
| Prevalence of Chronic Diseases | The increasing prevalence of chronic diseases such as diabetes, and cardiovascular diseases worldwide is contributing to increasing demand for generic drugs. Patients suffering from these diseases often consume generic drugs for the long term, owing to its accessibility and affordability. |
| Increasing Research and Development Activities | With increasing prevalence and rising demand for generic drugs, the number of research activities has also increased in the market. The market demand is attracting market players to develop new, better, and personalised formulations for patients suffering from chronic diseases. |
| Growth in Patent Expiration | In recent years, there has been a significant growth in patent expiration for essential medications used in treating cancer, diabetes, and cardiovascular diseases. As a result, the market has witnessed an influx of generic drugs to meet the increasing requirement for cost-effective and over the counter alternatives. |
Global Generic Drugs Market Segmentation
Market Breakup by Therapy Area
- Cardiovascular
- Dermatology
- Respiratory
- Oncology
- Rheumatology
- Others
Market Breakup by Route of Administration
- Oral
- Injectables
- Dermal/Topical
- Inhalers
- Others
Market Breakup by Distribution Channels
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Global Generic Drugs Market Share
Oral Leads the Market Share in Route of Administration
The market segmentation by route of administration includes oral, injectables, dermal/topical, inhalers, and others. The oral route of administration leads the market segment as tablets, pills, and capsules. It is preferred due to factors like ease of administration, patient compliance, and its convenience for bulk manufacturing and distribution. In addition, oral generic drugs are also easy to consume for long term treatment.
Oncology Dominates the Therapy Area Segment
The therapy area segment is distributed into cardiovascular, dermatology, respiratory, oncology, rheumatology, and others. The oncology therapy area dominates the segment due to increasing incidence of cancer across the globe. It is expected to hold the largest market share in the forecast period, followed by anti-infectives, and cardiovascular among other therapeutic areas.
Global Generic Drugs Market Analysis by Region
North America Holds the Largest Market Share while Asia Pacific Poised to Register Fastest Growth
Based on the regional analysis, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with each region contributing to the overall dynamics of the market. North America holds the largest market share which can be attributed to the high prevalence of diabetes, cardiovascular diseases, and cancer, among others. The market growth can further be attributed to continuous generic drug launches. For instance, in August 2023, Dr Reddy’s Laboratories launched a generic drugs for the treatment of diabetes in the United States market. The launch included Saxagliptin and Metformin Hydrochloride extended-release tablets, a therapeutic equivalent generic version of Kombiglyze XR tablets.
Owing to rising healthcare expenditure to bring economical treatment alternatives to patients, Asia Pacific is anticipated to witness fastest growth in the forecast period. The market demand for generic drugs is also fuelled by a significant portion of geriatric population in the region, that is more susceptible to developing chronic diseases.
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Leading Players in the Global Generic Drugs Market
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Teva Pharmaceutical Industries Ltd
- Viatris Inc.
- Sun Pharmaceutical Industries Ltd
- Lupin
- AstraZeneca
- Almirall, S.A
- Takeda Pharmaceutical Company Limited
- GSK plc
- Bausch + Lomb
- Novartis AG
- Sanofi
- Pfizer Inc.
- Fresenius SE & Co. KGaA
- Hikma Pharmaceuticals PLC
- Aurobindo Pharma
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| 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:
|
| Breakup by Therapy Area |
|
| Breakup by Route of Administration |
|
| Breakup by Distribution Channels |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
Key Queries Solved in the Global Generic Drugs Market Report
- What was the global generic drugs market value in 2023?
- What is the global generic drugs market forecast outlook for 2024-2032?
- What are the major factors aiding the global market demand?
- What are the major global market trends?
- What is the market segmentation based on the therapy area?
- What is the market breakup by route of administration?
- What are the major distribution channels of generic drugs?
- What are the application areas of generic drugs?
- What are the major markets according to the EMR report?
- Who are the key players involved in the global generic drugs market?
- How will the market landscape evolve in the upcoming years?
- How does the rising prevalence of chronic diseases boost generic drugs demand?
- What are the major drivers, opportunities, and restraints in the market?
- Why does the cardiovascular therapy area dominate the generic drugs market?
- How does the oncology segment contribute to the generic drugs market dynamics?
- How does the inclusion of online pharmacies impact the distribution of generic drugs?
- What will be the effect of each driver, challenge, and opportunity on the market?
- Which country is poised to lead the market share in the forecast period?
- Which distribution channel is anticipated to propel the market growth?
- Which segment has the highest impact on the market size?
- How are partnerships, collaborations, mergers and acquisitions shaping the market dynamics?
- What is the clinical trial landscape for generic drugs?
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Generic Drugs Market Overview
3.1 Global Generic Drugs Market Historical Value (2017-2023)
3.2 Global Generic Drugs Market Forecast Value (2024-2032)
4 Global Generic Drugs Market Landscape*
4.1 Global Generic Drugs: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Generic Drugs: Product Landscape
4.2.1 Analysis by Therapy Area
4.2.2 Analysis by Route of Administration
4.2.3 Analysis by Distribution Channels
5 Global Generic Drugs Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Generic Drugs Market Segmentation (2017-2032)
6.1 Global Generic Drugs Market (2017-2032) by Therapy Area
6.1.1 Market Overview
6.1.2 Cardiovascular
6.1.3 Dermatology
6.1.4 Respiratory
6.1.5 Oncology
6.1.6 Rheumatology
6.1.7 Others
6.2 Global Generic Drugs Market (2017-2032) by Route of Administration
6.2.1 Market Overview
6.2.2 Oral
6.2.3 Injectables
6.2.4 Dermal/Topical
6.2.5 Inhalers
6.2.6 Others
6.3 Global Generic Drugs Market (2017-2032) by Distribution Channels
6.3.1 Market Overview
6.3.2 Hospital Pharmacy
6.3.3 Retail Pharmacy
6.3.4 Online Pharmacy
6.3.5 Others
6.4 Global Generic Drugs Market (2017-2032) by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Generic Drugs Market (2017-2032)
7.1 North America Generic Drugs Market (2017-2032) by Therapy Area
7.1.1 Market Overview
7.1.2 Cardiovascular
7.1.3 Dermatology
7.1.4 Respiratory
7.1.5 Oncology
7.1.6 Rheumatology
7.1.7 Others
7.2 North America Generic Drugs Market (2017-2032) by Route of Administration
7.2.1 Market Overview
7.2.2 Oral
7.2.3 Injectables
7.2.4 Dermal/Topical
7.2.5 Inhalers
7.2.6 Others
7.3 North America Generic Drugs Market (2017-2032) by Country
7.3.1 United States of America
7.3.2 Canada
8 Europe Generic Drugs Market (2017-2032)
8.1 Europe Generic Drugs Market (2017-2032) by Therapy Area
8.1.1 Market Overview
8.1.2 Cardiovascular
8.1.3 Dermatology
8.1.4 Respiratory
8.1.5 Oncology
8.1.6 Rheumatology
8.1.7 Others
8.2 Europe Generic Drugs Market (2017-2032) by Route of Administration
8.2.1 Market Overview
8.2.2 Oral
8.2.3 Injectables
8.2.4 Dermal/Topical
8.2.5 Inhalers
8.2.6 Others
8.3 Europe Generic Drugs Market (2017-2032) by Country
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Others
9 Asia Pacific Generic Drugs Market (2017-2032)
9.1 Asia Pacific Generic Drugs Market (2017-2032) by Therapy Area
9.1.1 Market Overview
9.1.2 Cardiovascular
9.1.3 Dermatology
9.1.4 Respiratory
9.1.5 Oncology
9.1.6 Rheumatology
9.1.7 Others
9.2 Asia Pacific Generic Drugs Market (2017-2032) by Route of Administration
9.2.1 Market Overview
9.2.2 Oral
9.2.3 Injectables
9.2.4 Dermal/Topical
9.2.5 Inhalers
9.2.6 Others
9.3 Asia Pacific Generic Drugs Market (2017-2032) by Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 ASEAN
9.3.5 Australia
9.3.6 Others
10 Latin America Generic Drugs Market (2017-2032)
10.1 Latin America Generic Drugs Market (2017-2032) by Therapy Area
10.1.1 Market Overview
10.1.2 Cardiovascular
10.1.3 Dermatology
10.1.4 Respiratory
10.1.5 Oncology
10.1.6 Rheumatology
10.1.7 Others
10.2 Latin America Generic Drugs Market (2017-2032) by Route of Administration
10.2.1 Market Overview
10.2.2 Oral
10.2.3 Injectables
10.2.4 Dermal/Topical
10.2.5 Inhalers
10.2.6 Others
10.3 Latin America Generic Drugs Market (2017-2032) by Country
10.3.1 Brazil
10.3.2 Argentina
10.3.3 Mexico
10.3.4 Others
11 Middle East and Africa Generic Drugs Market (2017-2032)
11.1 Middle East and Africa Generic Drugs Market (2017-2032) by Therapy Area
11.1.1 Market Overview
11.1.2 Cardiovascular
11.1.3 Dermatology
11.1.4 Respiratory
11.1.5 Oncology
11.1.6 Rheumatology
11.1.7 Others
11.2 Middle East and Africa Generic Drugs Market (2017-2032) by Route of Administration
11.2.1 Market Overview
11.2.2 Oral
11.2.3 Injectables
11.2.4 Dermal/Topical
11.2.5 Inhalers
11.2.6 Others
11.3 Middle East and Africa Generic Drugs Market (2017-2032) by Country
11.3.1 Saudi Arabia
11.3.2 United Arab Emirates
11.3.3 Nigeria
11.3.4 South Africa
11.3.5 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by Year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Housing Material
14.5 Analysis by Funding Institute
14.6 Analysis by Departments
14.7 Analysis by Recipient Organization
15 Funding and Investment Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Supplier Landscape
17.1 Market Share by Top 5 Companies
17.2 Teva Pharmaceutical Industries Ltd
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Viatris Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Sun Pharmaceutical Industries Ltd
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Lupin
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 AstraZeneca
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Almirall, S.A
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Takeda Pharmaceutical Company Limited
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 GSK plc
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Bausch + Lomb
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Novartis AG
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Sanofi
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Pfizer Inc.
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Fresenius SE & Co. KGaA
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Hikma Pharmaceuticals PLC
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
17.16 Aurobindo Pharma
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisitions
17.16.5 Certifications
18 Global Generic Drugs Market – Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
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