Market Research Report
Generic Drugs Market: Global Industry Trends, Manufacturing Process, Share, Size, Growth, Opportunity and Forecast 2018-2023
|Published by||IMARC Services Private Limited||Product code||662794|
|Published||Content info||82 Pages
Delivery time: 1-2 business days
|Generic Drugs Market: Global Industry Trends, Manufacturing Process, Share, Size, Growth, Opportunity and Forecast 2018-2023|
|Published: June 7, 2018||Content info: 82 Pages||
A generic drug is a pharmaceutical product that is generally intended to be interchangeable with an innovator or a branded drug. Generics are manufactured without a licence from the innovator company and are identical or bio-equivalent to an innovator drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. Generic drugs are launched and marketed after the expiry date of the patent or other exclusive rights. Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. Unlike branded drug manufacturers who spend millions of dollars on R&D and marketing, generic drug manufacturers do not require such investments. Since the drug's formula is known, the clinical trials are complete; the generic drug manufacturer's only requirement is to demonstrate to the regulators that its version is as good and effective as the innovator or branded drug.
According to the IMARC Group, the global generic drugs market was valued at around US$ 244.5 Billion in 2017, growing at a CAGR of around 8% during 2010-2017. The biggest catalyst for growth is an increasing global pharmaceutical spending trend towards generics. Continuously increasing healthcare expenditures have pushed governments and third-party payers to seek ways to control their healthcare expenditures. This is catalyzing an increasing demand for generics versus their branded counterparts. Another major driver of this industry is the continued patent cliff that is providing growing pipelines opportunities for generic firms. Similarly, a growth in the overall global population and aging demographics is also proving to be beneficial for the overall healthcare sector including generic drug manufacturers. Healthcare reforms in the US and other developed markets coupled with strong growth in emerging market are some other important drivers for the generic drugs market.
IMARC's latest study "Generic Drugs Market: Global Industry Trends, Manufacturing Process, Share, Size, Growth, Opportunity and Forecast 2018-2023" provides a comprehensive roadmap for stakeholders who are planning to setup and run a generic drugs manufacturing plant. The study covers all the requisite aspects of the generic drugs market. This ranges from macro overview of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the generic drugs market in any manner.