December 23, 2021 08:34 ET | Source: ReportLinker ReportLinker
New York, Dec. 23, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “United States Generic Drugs Market, By Type, By Application, By Mode of Drug Delivery, By Form, By Source, By Distribution Channel, By Region, Competition, Forecast and Opportunity, 2026” – https://www.reportlinker.com/p06192577/?utm_source=GNW
United States generic drugs market was valued USD70.78 billion in 2020 and is forecast to grow at CAGR of 9.43% during the forecast period and may achieve market value of USD126.74 billion by the year 2026. Factors like cost effective nature of generic drugs and increasing demand from the developing economies are majorly responsible for this futuristic growth estimation of the United States generic drugs market in the upcoming five years. Generic drugs do not require extensive research and development as in case of prescription drugs and patented drugs. Market players and research institutes invest heavily on patent pharmaceuticals. Also, FDA approvals for the generic drugs are not required since generic drugs contain same composition as that of previously patented drug and thus supports the growth of the United States generic drugs market in the next five years. United States healthcare industry, in terms of the generic drugs, has grown from registering 80% growth in 2020 from previous growth of 20% in 2015.
Increased export of generic drugs to the developing economies like Kenya, India, etc. is also substantiating the growth of the United States generic drugs market in the future five years.
The United States generic drugs market is segmented based on type, mode of drug delivery, form, source of manufacturing, application, company and regional distribution.Based on type, the market can be split into small molecule generics and biosimilars.
Small molecule generics are anticipated to register largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of its simpler and easier manufacturing processes.Generic drug manufacturers during the production of small molecule generics are required to prove that the final product contains identical chemical compounds as that of the patent drug.
With similar pharmacokinetic functions and properties, the small molecule generic is accepted. Moreover, the demand for the cost-effective generic drugs is anticipated to further support the growth of the United States generic drugs market in the future five years.
Based on application, the market can be fragmented into cardiovascular diseases, diabetes, neurology, oncology, infectious diseases, and others.Cardiovascular diseases are expected to dominate the market segment while registering largest revenue shares of the market in the upcoming five years on the account of increasing instances of cardiovascular diseases in the United States.
Moreover, increased demand for the treatment and prolonged medication protocols drives the growth of the sub-segment cardiovascular diseases meanwhile supporting the growth of the Untied States generic drugs market in the next five years. Increasing researches and pharmaceutical developments for the oncology disease is anticipated to drive the growth of the oncology sub-segment and drive the growth of the United States generic drugs market in the future five years.
Teva Pharmaceuticals USA, Inc., Pfizer Inc., Sandoz US, Endo Pharmaceuticals Inc., Aurobindo Pharma USA, Inc., Abbott Laboratories Inc., Eli Lilly and Company, Sun Pharma Inc., Lupin Pharmaceuticals, Inc., and Zydus Pharmaceutical USA Inc. are among the major market players in the United States that lead the market growth of generic drugs.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze the historical growth in the market size of United States generic drugs market from 2016 to 2020.
• To estimate and forecast the market size of United States generic drugs market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast United States generic drugs market based on type, application, mode of drug delivery, form, source, distribution channel, competitional landscape, and regional distribution.
• To identify dominant region or segment in the United States generic drugs market.
• To identify drivers and challenges for United States generic drugs market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States generic drugs market.
• To identify and analyze the profile of leading players operating in United States generic drugs market.
• To identify key sustainable strategies adopted by market players in United States generic drugs market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of the United States generic drugs market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Generic drugs manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to generic drugs
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, United States generic drugs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• United States Generic Drugs Market, By Type:
o Small Molecule Generic
• United States Generic Drugs Market, By Application:
o Cardiovascular Diseases
o Infectious Diseases
• United States Generic Drugs Market, By Mode of Drug Delivery:
• United States Generic Drugs Market, By Form:
• United States Generic Drugs, By Source:
o In House Manufacturing
o Contract Manufacturing Organizations
• United States Generic Drugs Market, By Distributions Channels:
o Retail Pharmacies
o Online Pharmacies
o Hospital Pharmacies
• United States Generic Drugs Market, By Region:
Company Profiles: Detailed analysis of the major companies present in global generic drugs market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06192577/?utm_source=GNW
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