Global Generic drugs market Growth, Trends, and Forecasts
According to the report Global Generic drugs market, published by Market Data Forecast, The Market was worth USD 200.20 Billion in 2015 and estimated to reach USD 180 Billion by 2021 with a growing potential of 10.53%.
(EMAILWIRE.COM, September 25, 2017 ) According to the report Global Generic drugs market, published by Market Data Forecast, The Market was worth USD 200.20 Billion in 2015 and estimated to reach USD 180 Billion by 2021 with a growing potential of 10.53%.
Browse market data tables and in-depth TOC of the Global Generic drugs to 2021 @ http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/
Generic drugs are copies of branded drugs which have exactly same composition, intended use, effects, side effects, risks, safety, and strength as the genuine drug. An example of a generic drug for diabetes is metformin. They are cost effective compared to branded drugs.
Free sample of the report is available @ http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/request-sample
Generic drugs are also known as abbreviated drugs. To sell a generic drug manufacturing company must submit an Abbreviated New Drug Application for approval. The Drug Price Competition and Patent Term Restoration Act of 1984, mostly known as the Hatch-Waxman Act, made ANDAs feasible by creating a compromise in the drug industry. Generic drug companies have obtained greater access to the market for prescription drugs, and branded companies have obtained restoration of patent life for their drugs lost during FDA's approval process.
The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage. One more trend which influences market growth is outsourcing. Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
Global Generic Drugs Market: Segmentation
• Type
o Biosimilars
o simple generics
o Super generics
o Y-o-Y Growth Analysis, By Product
o Market Attractiveness Analysis, By Product
o Market Share Analysis, By Product
• Therapeutic drugs
o Cardiovascular Products
o Anti-infective Drugs
o Anti Arthritis Drugs
o Central Nervous System Drugs
o Anti Cancer Drugs
o Respiratory System Drugs
o Others
o Y-o-Y Growth Analysis, By Therapeutic Drugs
o Market Attractiveness Analysis, By Therapeutic Drugs
o Market Share Analysis, By Therapeutic Drugs
• Geographical Analysis
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East and Africa
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Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
About Market Data Forecast:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases
Browse market data tables and in-depth TOC of the Global Generic drugs to 2021 @ http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/
Generic drugs are copies of branded drugs which have exactly same composition, intended use, effects, side effects, risks, safety, and strength as the genuine drug. An example of a generic drug for diabetes is metformin. They are cost effective compared to branded drugs.
Free sample of the report is available @ http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/request-sample
Generic drugs are also known as abbreviated drugs. To sell a generic drug manufacturing company must submit an Abbreviated New Drug Application for approval. The Drug Price Competition and Patent Term Restoration Act of 1984, mostly known as the Hatch-Waxman Act, made ANDAs feasible by creating a compromise in the drug industry. Generic drug companies have obtained greater access to the market for prescription drugs, and branded companies have obtained restoration of patent life for their drugs lost during FDA's approval process.
The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage. One more trend which influences market growth is outsourcing. Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
Global Generic Drugs Market: Segmentation
• Type
o Biosimilars
o simple generics
o Super generics
o Y-o-Y Growth Analysis, By Product
o Market Attractiveness Analysis, By Product
o Market Share Analysis, By Product
• Therapeutic drugs
o Cardiovascular Products
o Anti-infective Drugs
o Anti Arthritis Drugs
o Central Nervous System Drugs
o Anti Cancer Drugs
o Respiratory System Drugs
o Others
o Y-o-Y Growth Analysis, By Therapeutic Drugs
o Market Attractiveness Analysis, By Therapeutic Drugs
o Market Share Analysis, By Therapeutic Drugs
• Geographical Analysis
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East and Africa
Avail Discount @ http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/request-discount
Buy now @ https://www.marketdataforecast.com/cart/buy-now/global-generic-drugs-market-2183
Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
About Market Data Forecast:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases
Contact Information:
Market Data Forecast.
Abhishek
Tel: +1-888- 702-9626
Email us
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Market Data Forecast.
Abhishek
Tel: +1-888- 702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results