Cost-effectiveness of abbreviated drugs is a competitive lead over branded drugs in the Generic Drugs Market
Generic Drugs market is anticipated to reach USD 652.6 billion by 2021 from a projected USD 395.20 billion in 2016, at a CAGR of 10.53%.
(EMAILWIRE.COM, March 01, 2018 ) The Generic Drugs market is anticipated to reach USD 652.6 billion by 2021 from a projected USD 395.20 billion in 2016, at a CAGR of 10.53%. The requirement for the growth of the generic drugs market is necessary to control the cost of the expensive private healthcare and therefore, demand for the market is growing steadily.
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Another prominent factor attributing to the growth of the market is losing patent right of most of the top branded drugs in the forecast period due to rise in the competition of the market. Outsourcing of drug development is estimated to boost the demand for the market. However, the threat of using counterfeit drugs coupled with increasing of risk complications and need to follow the strict rules of FDA for approval of drugs are inhibiting the rapid growth of market.
By products and services, the Super generics segment accounted for the largest share of the market in 2016. Bio-similar drugs are estimated to have major growth in the market in 2016. Super generics are sold-out at the higher value when compared to the pure generic segment. However, Biosimilars are relatively cost effective among generic medicine because of their quality. Biosimilars medicine is anticipated to possess important growth throughout the forecast period.
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North America accounted for the largest share of the Generic drugs market in 2016, and it is followed by Europe and Asia Pacific. Asia-Pacific is estimated to grow extensively because of the developing countries like India, China and Japan, as they are establishing their own pathways for the approvals of generic drugs.
The various players in the Generic drugs market include Teva Pharmaceutical, Mylan, Inc., Industries, Ltd., Hospira, Inc., Ranbaxy Laboratories, Sandoz International GmbH, Dr. Reddy’s Laboratories, Watson Pharmaceuticals, Ltd., Actavis, Apotex, Inc., and Par Pharmaceutical, Inc and others.
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Related Link: <||>rnhttps://www.marketdataforecast.com/market-reports/global-anticoccidial-drugs-market-13/
Sample Report: https://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/request-sample
Another prominent factor attributing to the growth of the market is losing patent right of most of the top branded drugs in the forecast period due to rise in the competition of the market. Outsourcing of drug development is estimated to boost the demand for the market. However, the threat of using counterfeit drugs coupled with increasing of risk complications and need to follow the strict rules of FDA for approval of drugs are inhibiting the rapid growth of market.
By products and services, the Super generics segment accounted for the largest share of the market in 2016. Bio-similar drugs are estimated to have major growth in the market in 2016. Super generics are sold-out at the higher value when compared to the pure generic segment. However, Biosimilars are relatively cost effective among generic medicine because of their quality. Biosimilars medicine is anticipated to possess important growth throughout the forecast period.
Get Full Report: https://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/
North America accounted for the largest share of the Generic drugs market in 2016, and it is followed by Europe and Asia Pacific. Asia-Pacific is estimated to grow extensively because of the developing countries like India, China and Japan, as they are establishing their own pathways for the approvals of generic drugs.
The various players in the Generic drugs market include Teva Pharmaceutical, Mylan, Inc., Industries, Ltd., Hospira, Inc., Ranbaxy Laboratories, Sandoz International GmbH, Dr. Reddy’s Laboratories, Watson Pharmaceuticals, Ltd., Actavis, Apotex, Inc., and Par Pharmaceutical, Inc and others.
Customized Report: https://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/customize-report
About MarketDataForecast™-
Market Data Forecast is a market research firm offering syndicated research, consults and industry newsletters across various domains & verticals. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for the majority of Fortune 500 companies. Along with the standards of reports being on par excellence, our unique services like free customization, analyst support for the period of six months post to the purchase will be the flag bearers and differentiates us from the rest. Our experience and in-depth understanding of various business environments will be a support to you and your organization in making well-informed decisions.
Related Link: <||>rnhttps://www.marketdataforecast.com/market-reports/global-anticoccidial-drugs-market-13/
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results