Europe Generic Drugs Market is predicted to reach a market value of USD 98.36 Billion by 2023.
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.
(EMAILWIRE.COM, September 27, 2018 ) Overview:
In the year 2018, Europe Generic Drugs Market was valued at USD 69.80 Billion. By the year 2023, it is expected to reach USD 98.36 Billion at pace of 7.10% CAGR.
Generic drugs are medications that have the same chemical composition and possess similar performance characteristic to its branded variants. These drugs are bioequivalent to brand name drugs in terms of concentration, quality, dose, form, effect, side effect, intended use and route of administration. The most important benefit of generic drugs is that they are less expensive when compared to branded drugs because they do not require for repeating expensive clinical trials, paying for marketing, advertising and promotion.
View sample and decide: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/request-sample
Underlying Causes
The growth for Generic Drugs Market is driven due to factors like increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease and Parkinson’s disease, rising healthcare expenditures, growing demand for generic drugs, and increasing aging population. In addition, generic drugs is patent expiry for branded drugs, advancement of technologies in medical industry, increasing investments by government authorities, and introduction of various innovative medication and formulation such as Biosimilars is expected to drive the market growth. However, stringent regulations by FDA for approval of generic drug is the major restraining factor which is expected to hinder the growth rate for Europe Generic Drugs Market.
To know more read: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/
Geographic Segmentation:
Based on geography the Europe Generic Drugs Market has been primarily divided into United Kingdom, France, Spain, Italy and Germany. Europe is expected to have a steady growth rate for Generic Drugs Market during the forecast period.
Get your customized report: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/customize-report
Key Players:
Leading companies for Europe Generic Drugs 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., and Teva Pharmaceutical.
In the year 2018, Europe Generic Drugs Market was valued at USD 69.80 Billion. By the year 2023, it is expected to reach USD 98.36 Billion at pace of 7.10% CAGR.
Generic drugs are medications that have the same chemical composition and possess similar performance characteristic to its branded variants. These drugs are bioequivalent to brand name drugs in terms of concentration, quality, dose, form, effect, side effect, intended use and route of administration. The most important benefit of generic drugs is that they are less expensive when compared to branded drugs because they do not require for repeating expensive clinical trials, paying for marketing, advertising and promotion.
View sample and decide: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/request-sample
Underlying Causes
The growth for Generic Drugs Market is driven due to factors like increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes, Alzheimer’s disease and Parkinson’s disease, rising healthcare expenditures, growing demand for generic drugs, and increasing aging population. In addition, generic drugs is patent expiry for branded drugs, advancement of technologies in medical industry, increasing investments by government authorities, and introduction of various innovative medication and formulation such as Biosimilars is expected to drive the market growth. However, stringent regulations by FDA for approval of generic drug is the major restraining factor which is expected to hinder the growth rate for Europe Generic Drugs Market.
To know more read: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/
Geographic Segmentation:
Based on geography the Europe Generic Drugs Market has been primarily divided into United Kingdom, France, Spain, Italy and Germany. Europe is expected to have a steady growth rate for Generic Drugs Market during the forecast period.
Get your customized report: https://www.marketdataforecast.com/market-reports/europe-generic-drugs-market-2185/customize-report
Key Players:
Leading companies for Europe Generic Drugs 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., and Teva Pharmaceutical.
Contact Information:
Market Data Forecast.
Abhishek Shukla
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
Market Data Forecast.
Abhishek Shukla
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