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IMARC Group’s latest research report, titled “Generic Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global generic drugs market share reached a value of US$ 386 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. A generic drug is an off-patented drug that is identical to other branded medicines in terms of effect, form, dosage, intended use, quality, and safety. These drugs can be manufactured only after the patent expiration of the brand-name drug. As compared to other branded drugs, these are less expensive and do not require extensive research and testing.
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Important Attribute and highlights of the Report:
The global market is primarily driven by the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease. Furthermore, the significant growth in the pharmaceutical industry has driven market growth across the globe. Apart from this, the rising expenditure by the government as well as private companies to manufacture generic drugs that can improve the healthcare system has created a positive outlook for the market. Moreover, the growth in the geriatric population has positively influenced the market growth. Additionally, the upcoming patent expiry of many brand-name drugs is expected to drive the market towards growth.
Key Players Included in Global Generic Drugs Market Research Report:
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Therapy Area:
Breakup by Drug Delivery:
Breakup by Distribution Channel:
Breakup by Region:
TOC for the Generic Drugs Market Research Report:
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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