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Global Generic Pharmaceuticals Market to reach USD 648.50 billion by the end of 2030.

Global Generic Pharmaceuticals Market Size study & Forecast, by Type ( Simple Generics, Specialty Generics, Biosimilars), by Application ( Central Nervous System Disorders, Respiratory Diseases, Hormones & Related Diseases, Gastrointestinal Diseases, Cardiovascular Diseases, Infectious Diseases and Others), by Product (Small Molecule, Large Molecule), By Route of Administration (Oral, Injectable, Inhalable and Others), by Distribution Channel (Online Pharmacies, Hospitals Pharmacies, Retail Pharmacies)and Regional Analysis, 2023-2030

Product Code: HLSDT-33024383
Publish Date: 20-05-2023
Page: 200

Global Generic Pharmaceuticals Market is valued at approximately USD 361.7 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.3% over the forecast period 2022-2029. Generic pharmaceuticals are medications that are identical, or bioequivalent, to brand-name drugs in terms of dosage, safety, strength, route of administration, quality, and intended use. Generic drugs are produced after the patent for the original brand-name drug has expired. This allows other pharmaceutical companies to manufacture and sell the same medication at a lower cost because they do not need to invest in the costly research and development that is required to create a new drug. The Generic Pharmaceuticals market is expanding because of factors such as rising, increasing ANDA approval and generic product launches and government initiatives to promote the usage of generics.

The rise in the number of ANDA approvals and generic medication product launches accounts for the market growth. according to the U.S. FDA’s Generic Drugs Annual report, the number of ANDA approvals increased from 948 in 2020 to 776 in 2021. Additionally, from the same source, it was reported that 100 ANDAs had been approved overall by the end of 2021. Governments have implemented programs that offer various opportunities for significant generic drug players to cut back on expenditure on pharmaceuticals. As an illustration, by using generic medications in 2021, the U.S. government saved USD 373 million on pharmaceutical costs. According to the AAM Generic Drug & Biosimilars Access & Savings Report 2021, 91% of prescriptions are filled with generic medication, which represents 18.2% of prescription drug costs. In addition, the increasing Disease Burden and Rising Geriatric Population are creating lucrative growth in the market. However, a lack of transparency about the actual price of generic drugs hampers the market growth.

The key regions considered for the Global Generic Pharmaceuticals Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market growth and the region’s increasing disease prevalence, along with these increasing number of favorable government initiatives coupled with the rising number of product launches and demand for a generic drug is driving the market growth in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations for product development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Teva Pharmaceutical Industries Ltd.
Viatris Inc.
Novartis AG
Sun Pharmaceutical Industries Ltd.
AbbVie Inc. (Allergan)
Sawai Pharmaceutical Co., Ltd.
Hikma Pharmaceuticals PLC
Dr. Reddy’s Laboratories Ltd.

Recent Developments in the Market:
Ø In January 2022, the Mark Cuban Cost Plus Drugs Company (MCCPDC) announced the launch of an online pharmacy. The pharmacy would offer around more than 100 generic drugs at a low cost to patients.

Global Generic Pharmaceuticals Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Product, Application, Route of Administration, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Simple Generics
Specialty Generics

By Application:
Central Nervous System Disorders
Respiratory Diseases
Hormones & Related Diseases
Gastrointestinal Diseases
Cardiovascular Diseases
Infectious Diseases
By Product:
Small Molecule
Large Molecule
By Route of Administration:
Distribution Channel:
Online Pharmacies
Hospitals Pharmacies
Retail Pharmacies
By Region:
North America
Asia Pacific
South Korea
Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Generic Pharmaceuticals Market, by Region, 2020-2030 (USD Billion)
1.2.2. Generic Pharmaceuticals Market, by Type, 2020-2030 (USD Billion)
1.2.3. Generic Pharmaceuticals Market, by Application, 2020-2030 (USD Billion)
1.2.4. Generic Pharmaceuticals Market, by Product, 2020-2030 (USD Billion)
1.2.5. Generic Pharmaceuticals Market, by Route of Administration, 2020-2030 (USD Billion)
1.2.6. Generic Pharmaceuticals Market, by Distribution Channel, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Generic Pharmaceuticals Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Generic Pharmaceuticals Market Dynamics
3.1. Generic Pharmaceuticals Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing ANDA approval and Generic Product Launches Government initiatives to promote usage of generics
3.1.2. Market Challenges High Cost of Generic Pharmaceuticals Pricing issues
3.1.3. Market Opportunities Increasing Disease Burden Rising Geriatric Population
Chapter 4. Global Generic Pharmaceuticals Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Generic Pharmaceuticals Market, by Type
5.1. Market Snapshot
5.2. Global Generic Pharmaceuticals Market by Type, Performance – Potential Analysis
5.3. Global Generic Pharmaceuticals Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Generic Pharmaceuticals Market, Sub Segment Analysis
5.4.1. Simple Generics
5.4.2. Specialty Generics
5.4.3. Biosimilars
Chapter 6. Global Generic Pharmaceuticals Market, by Application
6.1. Market Snapshot
6.2. Global Generic Pharmaceuticals Market by Application, Performance – Potential Analysis
6.3. Global Generic Pharmaceuticals Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Generic Pharmaceuticals Market, Sub Segment Analysis
6.4.1. Central Nervous System Disorders
6.4.2. Respiratory Diseases
6.4.3. Hormones & Related Diseases
6.4.4. Gastrointestinal Diseases
6.4.5. Cardiovascular Diseases
6.4.6. Infectious Diseases
6.4.7. Others
Chapter 7. Global Generic Pharmaceuticals Market, by Product
7.1. Market Snapshot
7.2. Global Generic Pharmaceuticals Market by Product, Performance – Potential Analysis
7.3. Global Generic Pharmaceuticals Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
7.4. Generic Pharmaceuticals Market, Sub Segment Analysis
7.4.1. Small Molecule
7.4.2. Large Molecule
Chapter 8. Global Generic Pharmaceuticals Market, by Route of Administration
8.1. Market Snapshot
8.2. Global Generic Pharmaceuticals Market by Route of Administration, Performance – Potential Analysis
8.3. Global Generic Pharmaceuticals Market Estimates & Forecasts by Route of Administration 2020-2030 (USD Billion)
8.4. Generic Pharmaceuticals Market, Sub Segment Analysis
8.4.1. Oral
8.4.2. Injectable
8.4.3. Inhalable
8.4.4. Others
Chapter 9. Global Generic Pharmaceuticals Market, by Distribution Channel
9.1. Market Snapshot
9.2. Global Generic Pharmaceuticals Market by Distribution Channel, Performance – Potential Analysis
9.3. Global Generic Pharmaceuticals Market Estimates & Forecasts by Distribution channel 2020-2030 (USD Billion)
9.4. Generic Pharmaceuticals Market, Sub Segment Analysis
9.4.1. Online Pharmacies
9.4.2. Retail Pharmacies
9.4.3. Hospital Pharmacies
Chapter 10. Global Generic Pharmaceuticals Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Generic Pharmaceuticals Market, Regional Market Snapshot
10.4. North America Generic Pharmaceuticals Market
10.4.1. U.S. Generic Pharmaceuticals Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Product breakdown estimates & forecasts, 2020-2030 Route of Administration breakdown estimates & forecasts, 2020-2030 Distribution Channel breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Generic Pharmaceuticals Market
10.5. Europe Generic Pharmaceuticals Market Snapshot
10.5.1. U.K. Generic Pharmaceuticals Market
10.5.2. Germany Generic Pharmaceuticals Market
10.5.3. France Generic Pharmaceuticals Market
10.5.4. Spain Generic Pharmaceuticals Market
10.5.5. Italy Generic Pharmaceuticals Market
10.5.6. Rest of Europe Generic Pharmaceuticals Market
10.6. Asia-Pacific Generic Pharmaceuticals Market Snapshot
10.6.1. China Generic Pharmaceuticals Market
10.6.2. India Generic Pharmaceuticals Market
10.6.3. Japan Generic Pharmaceuticals Market
10.6.4. Australia Generic Pharmaceuticals Market
10.6.5. South Korea Generic Pharmaceuticals Market
10.6.6. Rest of Asia Pacific Generic Pharmaceuticals Market
10.7. Latin America Generic Pharmaceuticals Market Snapshot
10.7.1. Brazil Generic Pharmaceuticals Market
10.7.2. Mexico Generic Pharmaceuticals Market
10.8. Rest of The World Generic Pharmaceuticals Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Teva Pharmaceutical Industries Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Viatris Inc.
11.3.3. Novartis AG
11.3.4. Sun Pharmaceutical Industries Ltd.
11.3.5. LUPIN
11.3.6. AbbVie Inc. (Allergan)
11.3.7. AstraZeneca
11.3.8. Sawai Pharmaceutical Co., Ltd.
11.3.9. Hikma Pharmaceuticals PLC
11.3.10. Dr. Reddy’s Laboratories Ltd.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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