Global Generic Drugs Market Benefited by Rising Patent Expiry of Branded Drugs

Published On : 23 Aug 2016

For numerous decades, generic drugs have been offering relief from the ever-increasing costs of branded prescription drugs. In many developing countries, generic drugs still remain a key element for governments to offer cost-effective medications to the people. The launch of new generic drugs by startups and key companies has benefited the global market. The availability of generic drugs at affordable prices is the key factor expected to propel the global market through the forecast period. 

A new report in the market intelligence repository of, titled ‘Global Generic Drugs Market Professional Survey Report 2016,’ highlights the types, applications, and classifications of generic drugs. The analysts also focus on various regions where key companies operate and offer their services. Based on region, the global market for generic drugs is divided into North America, Europe, Asia Pacific, and Rest of the World. After focusing on the dominance of key companies in various regions, the analysts have briefed readers about technical advancements, capacity production, commercial production, manufacturing plants, the status of research and development activities, and sources of raw materials of generic drugs.  

Prominent players in the global generic drugs market are profiled with information such as product pictures, specifications, product type, sales of generic drugs, ex-factory price, gross margin, and revenue. The study also focuses on key companies willing to acquire the new entrants in the market. Some of the prominent players listed in the report are Teva Pharma., Novartis Company, Mylan, Allergan, Hospira, Dr. Reddy’s Lab., Stada, Greenstone, Par Pharma, Sun Pharmaceutical, Aspen Pharmacare, Fresenius, Lupin. Currently, prominent players are concentrating on improving their research and development activities to discover new generic drugs. With this, they are expected to maintain their dominance in the global market. 

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The availability of advanced medical devices and the implementation of new technologies in manufacturing procedures have helped manufacturers in introducing new generic drugs. Over the past decade, sales of generic copies of branded medicines have been increasing.

The report highlights the key factors expected to drive the global generic drugs market in the coming years. Rising patent expiry has prevented manufacturers of branded drugs from expanding the lifecycle of their products. Thus, the global market for generic drugs has expanded and is further predicted to flourish at a rapid pace. However, the changing regulations in many nations are predicted to hamper the growth of the global generic drugs market. In many nations, governments have made it mandatory for healthcare centers, hospitals, and medical centers to supply prescription drugs, which might affect the sales of generic drugs.  

To conclude, the report measures the feasibility of new projects that are planned by key companies. SWOT analysis and other such industry-standard tools are used by manufacturers of generic drugs to measure the feasibility of the new projects. Factors such as international trade figures, import, export, commercial production, and capacity production of generic drugs are highlighted in the report by the analysts.  

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