Generic Drugs Market to record USD 138.9 Bn growth — Technavio identifies North America as a key growth region

The global generic drugs market is fragmented and is characterized by global and regional vendors. Vendors are partnering with research organizations and hospitals for R&D and participate in various scientific conferences to showcase their products and explore long-term development opportunities. The key vendors in the global generic drugs market focus on product approvals, M&A, and product launches to gain a competitive edge in the market. Inorganic growth strategies, robust R&D, and pricing strategies will also increase the competition among these vendors.

Technavio identifies Amgen Inc., Dr. Reddys Laboratories Ltd., Fresenius SE and Co. KGaA, Merck and Co. Inc., Novartis AG, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc. as some of the key market participants. Although the availability of low-cost alternatives, increased outsourcing of drug discovery and development, and the rising drug patent expirations will offer immense growth opportunities, rising credibility issues, increasing side effects, and stringent regulations will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Download Report Sample Now

The generic drugs market is segmented as below:

• Type
  • Small-molecule generics
  • Biosimilars

The small-molecule generics segment will have the largest share of the market. The availability of generic medicines at discounted prices is driving the growth of the segment. Also, the emergence of super generics, lower investment requirements by manufacturers, and simpler synthesis chemical reactions to produce exact copies of the product are contributing to the growth of the segment.

• Geography
  • North America
  • Europe
  • Asia
  • ROW

39% of the market growth will originate from North America during the forecast period. The presence of a large number of key vendors that offer a variety of highly differentiated products is driving the growth of the regional market. In addition, the rise in the prevalence of major health disorders is mainly due to lifestyle changes, and increased consumption of alcohol and tobacco in the US will have a positive impact on the growth of the generic drugs market in North America. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our generic drugs market report covers the following areas:

• Generic Drugs Market Size
• Generic Drugs Market Trends
• Generic Drugs Market Industry Analysis

We provide a detailed analysis of around 25 vendors operating in the generic drugs market, including some of the dominant vendors. Backed with competitive intelligence and benchmarking, our research report on the generic drugs market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will assist generic drugs market growth during the next five years
• Estimation of the generic drugs market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the generic drugs market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of generic drugs market vendors

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