Generic drugs are drugs with the chemical makeup of a drug equivalent to an existing branded drug. These drugs are cheaper and equivalent to branded drugs in dosage, strength, route of administration, quality, performance, and application. Generic drugs are subjected to government regulations in various countries rather than being associated with a particular company.
The major factors that contribute to the growth of the generic drugs market include increasing prevalence of chronic diseases, diabetes & cardiovascular diseases, growth in the geriatric population, increasing healthcare expenditure, high demand for generic medicines, and a large number of patents expired branded drugs. However, stringent governmental regulations and adverse effects associated with drugs are expected to restrain market development.
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The rising demand for newer versions of generic drugs, additional numbers of clinical trials, and large numbers of licensing & partnering strategies to launch new products by key vendors contribute to significant demand for generic drugs in the near future.
The Major key players Are:
- Abbott Laboratories
- Teva Pharmaceutical Industries Ltd.
- Sandoz International GmbH
- Mylan N.V.
- STADA Arzneimittel AG
- Baxter International Inc.
- Eli Lilly and Company
- GlaxoSmithKline Plc.
- Pfizer Inc.
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The global generic drugs market is segmented on the basis of product type, application, distribution channel, and region. On the basis of product type, the market is segmented into simple generics, super generics, and biosimilars. Based on application the market is divided into cardiovascular products, anti-infective drugs, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. On the basis of the distribution channels, the market is segmented into hospitals, pharmacies, private clinics, drug stores, retail pharmacies, and others. Geographically, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- The study provides an in-depth analysis of the global generic drugs market with current trends and future estimations to elucidate imminent investment pockets.
- The report provides information about the current and upcoming trends in the global generic drugs market from 2016 to 2023, which helps determine prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the global generic drugs market has been provided.
- Identification of factors that are instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global and regional scale have been provided.
- Key market players within the market have been profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global generic drugs market.
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