Generic Drugs Market 2024-2028: Size and Rising credibility issues related to generic drugs; growth driven by the Route Of Administration, Some of key Companies Positioned Strategically

The generic drugs market size by Route Of Administration (Oral, Injectables, Topical, and Inhalers), Type (Small-molecule generics and Biosimilars), and Geography (North America, Europe, Asia, and Rest of World (ROW)), is forecast to increase by USD 212.58 billion. The market is expected to grow at a CAGR of   7.86% between 2024 and 2028.

• The generic drugs market signifies substantial growth potential, driven by increasing demand for affordable alternatives to branded medicines. With regulatory bodies ensuring stringent quality control, the sector is poised for expansion. Market players focus on strategic collaborations, product development, and regulatory compliance to capitalize on this opportunity. The business landscape remains competitive, necessitating continuous innovation and cost optimization.
• The North American region dominates the global generic drugs market, with the United States serving as a primary hub for major players such as Merck (Merck and Co. Inc.), Pfizer (Pfizer Inc.), and Amgen (Amgen Inc.). These key vendors differentiate themselves through a wide range of offerings, which significantly influence both healthcare professionals and patients. A key factor fueling market expansion in North America is the rising incidence of chronic diseases, primarily attributable to lifestyle modifications and increased consumption of alcohol and tobacco in the US. In Canada, the demand for biosimilars is surging due to their therapeutic advantages and cost savings. Notably, the prevalence of breast cancer in Canada is driving this trend.

Access the full report to know who are the other key countries segment-wise forecast and historic data

Some of the Key Companies:

• Abbott Laboratories
• Amgen Inc.
• Amneal Pharmaceuticals Inc.
• Apotex Inc.
• Aspen Pharmacare Holdings Ltd
• Aurobindo Pharma Ltd.
• Baxter International Inc.
• Biocon Ltd.
• Cadila Pharmaceuticals Ltd.
• Cipla Ltd.
• Dr Reddys Laboratories Ltd.
• Eli Lilly and Co.
• Endo International Plc
• Fresenius SE and Co. KGaA
• GlaxoSmithKline Plc
• Hikma Pharmaceuticals Plc
• Lupin Ltd.
• Merck and Co. Inc.
• Novartis AG
• Pfizer Inc.
• PlantForm Corporation
• Sanofi SA
• STADA Arzneimittel AG
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.

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Jesse Maida
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Email: media@technavio.com
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