PUBLISHER: MarketLine | PRODUCT CODE: 1337442
PUBLISHER: MarketLine | PRODUCT CODE: 1337442
Global Generics industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
For the purposes of this profile, a generic drug is defined as a copy of an ethical (prescription) drug formerly protected by patents that have now expired. Both unbranded generics and branded generics are included in our market scope. However, off-patent drugs that continue to be offered by the original manufacturer under the original name, and which form part of the 'generic-eligible' market, are not included. The market value is evaluated at ex-factory prices.
Market volume is quantified here as the percentage of the total ethical pharmaceutical market volume in a country or region which is accounted for by generic drugs. It is therefore a generics penetration rate measure, not an absolute measure of market volume.
Regional volumes are calculated as weighted averages of countries that comprise the region where volume data exists.
All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.
The global generics market had total revenues of $336.9 billion in 2022, representing a compound annual growth rate (CAGR) of 7.2% between 2017 and 2022.
Market consumption volume increased with a CAGR of 1.8% between 2017 and 2022, to reach a total of 40.1% in 2022.
In 2022, the growth of the global generics market decelerated, witnessing an annual growth of 7.2% due to the reduction in generic drug prices.