Product Code: GVR-4-68040-031-8
Generic Pharmaceuticals Market Growth & Trends:
The global generic pharmaceuticals market is expected to reach over USD 682.9 billion expanding at a CAGR of 8.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The growth of the generic pharmaceuticals market is largely attributable to the expiry of product patents which clears the way for generic drugs and biosimilar manufacturers to launch products in the market. For instance, in July 2020, Teva Pharmaceutical Industries Ltd. entered into a joint venture with Takeda Pharmaceutical Company Limited aimed to manufacture and commercialize specialty assets, complex generic drugs, and other pipeline opportunities. This joint venture was anticipated to drive the generic pharmaceuticals market.
Furthermore, increasing government initiatives to promote generic drug products for reducing the overall healthcare expenditure on pharmaceuticals and the patent expiry of major products. For instance, the Therapeutic Goods Administration (TGA) Australia aims to offer affordable, efficient, high-quality, and accessible generic drugs to citizens for their treatment. In support of generic drugs, the TGA has been trying to reduce regulatory and reimbursement burdens such as changing the landscape of generic drugs and reducing barriers through international collaboration with manufacturers to launch their generic drugs in the market. Such initiatives of the Australian government open new avenues in the market.
In the U.S., every year millions of Americans use a generic drug for their treatment, hence, generic drugs remain the best bargain in the health care insurance programs, and given the recent enactment of healthcare reform legislation such as the introduction of the Patient Protection and Affordable Health Care Act. P.L. 111-148. Under this act, prescription drug coverage is mandated by the government as part of these new health insurance plans. The introduction of such policies may improve the quality and efficiency of healthcare, thereby, driving market growth.
The rising disease burden of infectious & non-infectious diseases coupled with the increasing geriatric population which is prone to chronic diseases such as diabetes, and hypertension, among others, may positively affect the market growth. According to an article published, in September 2022, around 17.9 million general population suffer from cardiovascular diseases (CVD) every year worldwide. Diseases including TB, diabetes, cardiovascular diseases, and HIV were among the major causes of death. The increasing incidence and prevalence of these diseases is expected to drive the market.
Generic Pharmaceuticals Market Report Highlights:
- The small molecule segment by type held the largest share of 91.2% in 2022 and the large molecule segment is expected to grow at the fastest rate. The increasing approval and uptake of biosimilars is expected to drive the growth of the large molecule segment.
- Based on the route of administration, the injectable segment is the fastest-growing segment due to the rising approval for biosimilar drugs.
- By application, cardiovascular diseases dominated the market with a share of 18.27% in 2022, owing to the highest prescription rate of generic statins coupled with a high disease burden.
- Specialty generics are expected to grow moderately due to increasing investments and the focus of pharmaceutical companies to develop value-added products. In 2019, the U.S. FDA approved 110 complex generics.
- Based on distribution channel, the retail pharmacy segment dominated the market space in 2022. Retail pharmacy chains across the world are investing in advanced technologies and undertaking new initiatives to improve sales and attract more customers.
- North America held the majority share in 2022. Favorable government initiatives coupled with an evolving reimbursement landscape for pharmaceutical products support continual growth.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market segmentation
- 1.1.1 Estimates and Forecast Timeline
- 1.2 Research Methodology
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Primary Research
- 1.3.5 Details of Primary Research
- 1.4 Information or Data Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation & Validation
- 1.6 Model Details
- 1.6.1 Commodity Flow Analysis
- 1.6.1.1 Approach 1: Commodity Flow Approach
- 1.6.1.2 Approach 2: Country-wise market estimation using bottom-up approach
- 1.7 Global Market: CAGR Calculation
- 1.8 Research Assumptions
- 1.9 List of Secondary Sources
- 1.10 List of Primary Sources
- 1.11 Primary Research Analysis
- 1.11.1 Market scenario
- 1.11.2 Key KoL responses
- 1.12 Objectives
- 1.12.1 Objective 1:
- 1.12.2 Objective 2:
- 1.13 List of Abbreviations
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Snapshoty
Chapter 3 Market Variables, Trends & Scope
- 3.1 Penetration and Growth Prospect Mapping
- 3.2 Regulatory Landscape
- 3.3 SWOT Analysis, By Factor (Political & Legal, Economic, and Technological)
- 3.4 Porter's Five Forces Analysis
- 3.5 User Perspective Analysis
- 3.6 Generic Pharmaceuticals Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.1.1 Patent expiry of biologics and small molecules
- 3.6.1.2 Increasing ANDA approval and Generic Product Launches
- 3.6.1.3 Government initiatives to promote usage of generics
- 3.6.1.4 Increasing Disease Burden and Rising Geriatric Population
- 3.6.2 Market Restraint Analysis
- 3.6.2.1 Pricing Pressures
Chapter 4 Generic Pharmaceuticals Market - Segment Analysis, By Type, 2018 - 2030 (USD Billion)
- 4.1 Generic Pharmaceuticals Market: Type Movement Analysis
- 4.2 Simple Generics
- 4.2.1 Simple Generics Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 4.3 Specialty Generics
- 4.3.1 Specialty Generics Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.4 Biosimilars
- 4.4.1 Biosimilars Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5 Generic Pharmaceuticals Market - Segment Analysis, By Application, 2018 - 2030 (USD Billion)
- 5.1 Generic Pharmaceuticals Market: Application Movement Analysis
- 5.2 Central Nervous System Disorders
- 5.2.1 Central Nervous System Disorders Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.3 Respiratory Diseases
- 5.3.1 Respiratory Diseases Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.4 Hormones and Related Diseases
- 5.4.1 Hormones and Related Diseases Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.5 Gastrointestinal Diseases
- 5.5.1 Gastrointestinal Diseases Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.6 Cardiovascular Diseases
- 5.6.1 Cardiovascular Diseases Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.7 Infectious Diseases
- 5.7.1 Infectious Diseases Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.8 Cancer
- 5.8.1 Cancer Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.9 Diabetes
- 5.9.1 Diabetes Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 5.10 Others
- 5.10.1 Others Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Chapter 6 Generic Pharmaceuticals Market - Segment Analysis, By Product, 2018 - 2030 (USD Billion)
- 6.1 Generic Pharmaceuticals Market: Product Movement Analysis
- 6.2 Small Molecule
- 6.2.1 Small Molecule Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.3 Large Molecule
- 6.3.1 Large molecule Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7 Generic Pharmaceuticals Market - Segment Analysis, By Route of Administration, 2018 - 2030 (USD Billion)
- 7.1 Generic Pharmaceuticals Market: Route of Administration Movement Analysis
- 7.2 Oral
- 7.2.1 Oral Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 7.3 Injectable
- 7.3.1 Injectable Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 7.4 Inhalable
- 7.4.1 Inhalable Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 7.5 Others
- 7.5.1 Others Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Chapter 8 Generic Pharmaceuticals Market - Segment Analysis, By Distribution Channel, 2018 - 2030 (USD Billion)
- 8.1 Generic Pharmaceuticals Market: Distribution Channel Movement Analysis
- 8.2 Hospital Pharmacy
- 8.2.1 Hospital Pharmacy Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 8.3 Retail Pharmacy
- 8.3.1 Retail Pharmacy Market Estimates and Forecast, 2018 - 2030 (USD Billion)
- 8.4 Online Pharmacy
- 8.4.1 Online Pharmacy Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Chapter 9 Generic Pharmaceuticals Market - Segment Analysis, By Region, 2018 - 2030 (USD Billion)
- 9.1 Generic Pharmaceuticals Market, Market Share by Region, 2022 & 2030
- 9.2 North America
- 9.2.1 SWOT Analysis
- 9.2.1.1 North America Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.2 U.S.
- 9.2.2.1 Key Country Dynamics
- 9.2.2.2 Target Disease Prevalence
- 9.2.2.3 Competitive Scenario
- 9.2.2.4 Regulatory Framework
- 9.2.2.5 Reimbursement Scenario
- 9.2.2.6 U.S. Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.3 Canada
- 9.2.3.1 Key Country Dynamics
- 9.2.3.2 Target Disease Prevalence
- 9.2.3.3 Competitive Scenario
- 9.2.3.4 Regulatory Framework
- 9.2.3.5 Reimbursement Scenario
- 9.2.3.6 Canada Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2 Europe
- 9.2.1 SWOT Analysis:
- 9.2.1.1 Europe Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.2 Germany
- 9.2.2.1 Key Country Dynamics
- 9.2.2.2 Target Disease Prevalence
- 9.2.2.3 Competitive Scenario
- 9.2.2.4 Regulatory Framework
- 9.2.2.5 Reimbursement Scenario
- 9.2.2.6 Germany Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.3 U.K.
- 9.2.3.1 Key Country Dynamics
- 9.2.3.2 Target Disease Prevalence
- 9.2.3.3 Competitive Scenario
- 9.2.3.4 Regulatory Framework
- 9.2.3.5 Reimbursement Scenario
- 9.2.3.6 UK Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.4 France
- 9.2.4.1 Key Country Dynamics
- 9.2.4.2 Target Disease Prevalence
- 9.2.4.3 Competitive Scenario
- 9.2.4.4 Regulatory Framework
- 9.2.4.5 Reimbursement Scenario
- 9.2.4.6 France Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.5 Italy
- 9.2.5.1 Key Country Dynamics
- 9.2.5.2 Target Disease Prevalence
- 9.2.5.3 Competitive Scenario
- 9.2.5.4 Regulatory Framework
- 9.2.5.5 Reimbursement Scenario
- 9.2.5.6 Italy Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.6 Spain
- 9.2.6.1 Key Country Dynamics
- 9.2.6.2 Target Disease Prevalence
- 9.2.6.3 Competitive Scenario
- 9.2.6.4 Regulatory Framework
- 9.2.6.5 Reimbursement Scenario
- 9.2.6.6 Spain Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.7 Denmark
- 9.2.7.1 Key Country Dynamics
- 9.2.7.2 Target Disease Prevalence
- 9.2.7.3 Competitive Scenario
- 9.2.7.4 Regulatory Framework
- 9.2.7.5 Reimbursement Scenario
- 9.2.7.6 Denmark Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.8 Sweden
- 9.2.8.1 Key Country Dynamics
- 9.2.8.2 Target Disease Prevalence
- 9.2.8.3 Competitive Scenario
- 9.2.8.4 Regulatory Framework
- 9.2.8.5 Reimbursement Scenario
- 9.2.8.6 Sweden Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.9 Norway
- 9.2.9.1 Key Country Dynamics
- 9.2.9.2 Target Disease Prevalence
- 9.2.9.3 Competitive Scenario
- 9.2.9.4 Regulatory Framework
- 9.2.9.5 Reimbursement Scenario
- 9.2.9.6 Norway Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.2.9.7 Rest of Europe Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3 Asia Pacific
- 9.3.1 SWOT Analysis:
- 9.3.1.1 Asia Pacific Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.2 Japan
- 9.3.2.1 Key Country Dynamics
- 9.3.2.2 Target Disease Prevalence
- 9.3.2.3 Competitive Scenario
- 9.3.2.4 Regulatory Framework
- 9.3.2.5 Reimbursement Scenario
- 9.3.2.6 Japan Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.3 China
- 9.3.3.1 Key Country Dynamics
- 9.3.3.2 Target Disease Prevalence
- 9.3.3.3 Competitive Scenario
- 9.3.3.4 Regulatory Framework
- 9.3.3.5 Reimbursement Scenario
- 9.3.3.6 China Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.4 India
- 9.3.4.1 Key Country Dynamics
- 9.3.4.2 Target Disease Prevalence
- 9.3.4.3 Competitive Scenario
- 9.3.4.4 Regulatory Framework
- 9.3.4.5 Reimbursement Scenario
- 9.3.4.6 India Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.5 Australia
- 9.3.5.1 Key Country Dynamics
- 9.3.5.2 Target Disease Prevalence
- 9.3.5.3 Competitive Scenario
- 9.3.5.4 Regulatory Framework & Reimbursement Scenario
- 9.3.5.5 Australia Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.6 Thailand
- 9.3.6.1 Key Country Dynamics
- 9.3.6.2 Target Disease Prevalence
- 9.3.6.3 Competitive Scenario
- 9.3.6.4 Regulatory Framework & Reimbursement Scenario
- 9.3.6.5 Thailand Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.7 South Korea
- 9.3.7.1 Key Country Dynamics
- 9.3.7.2 Target Disease Prevalence
- 9.3.7.3 Competitive Scenario
- 9.3.7.4 Regulatory Framework & Reimbursement Scenario
- 9.3.7.5 South Korea Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.3.7.6 Rest of Asia Pacific Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4 Latin America
- 9.4.1 SWOT Analysis:
- 9.4.1.1 Latin America Generic Pharmaceutical market estimates and forecasts, 2018 - 2030 (USD Billion)
- 9.4.2 Brazil
- 9.4.2.1 Key Country Dynamics
- 9.4.2.2 Target Disease Prevalence
- 9.4.2.3 Competitive Scenario
- 9.4.2.4 Regulatory Framework
- 9.4.2.5 Reimbursement Scenario
- 9.4.2.6 Brazil Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.3 Mexico
- 9.4.3.1 Key Country Dynamics
- 9.4.3.2 Target Disease Prevalence
- 9.4.3.3 Competitive Scenario
- 9.4.3.4 Regulatory Framework
- 9.4.3.5 Reimbursement Scenario
- 9.4.3.6 Mexico Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.4 Argentina
- 9.4.4.1 Key Country Dynamics
- 9.4.4.2 Target Disease Prevalence
- 9.4.4.3 Competitive Scenario
- 9.4.4.4 Regulatory Framework
- 9.4.4.5 Reimbursement Scenario
- 9.4.4.6 Argentina Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.4.4.7 Rest of Latin America Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5 Middle East & Africa (MEA)
- 9.5.1 SWOT Analysis:
- 9.5.1.1 Middle East & Africa Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.2 South Africa
- 9.5.2.1 Key Country Dynamics
- 9.5.2.2 Target Disease Prevalence
- 9.5.2.3 Competitive Scenario
- 9.5.2.4 Regulatory Framework
- 9.5.2.5 Reimbursement Scenario
- 9.5.2.6 South Africa Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.3 Saudi Arabia
- 9.5.3.1 Key Country Dynamics
- 9.5.3.2 Target Disease Prevalence
- 9.5.3.3 Competitive Scenario
- 9.5.3.4 Regulatory Framework
- 9.5.3.5 Reimbursement Scenario
- 9.5.3.6 Saudi Arabia Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.4 UAE
- 9.5.4.1 Key Country Dynamics
- 9.5.4.2 Target Disease Prevalence
- 9.5.4.3 Competitive Scenario
- 9.5.4.4 Regulatory Framework
- 9.5.4.5 Reimbursement Scenario
- 9.5.4.6 UAE Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.5 Kuwait
- 9.5.5.1 Key Country Dynamics
- 9.5.5.2 Target Disease Prevalence
- 9.5.5.3 Competitive Scenario
- 9.5.5.4 Regulatory Framework
- 9.5.5.5 Reimbursement Scenario
- 9.5.5.6 Kuwait Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 9.5.5.7 Rest of MEA Generic Pharmaceutical Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 10 Generic Pharmaceuticals Market - Competitive Analysis
- 10.1 Recent Developments & Impact Analysis, by Key Market Participants
- 10.1.1 New Product Launch
- 10.1.2 Merger and Acquisition
- 10.1.3 Licensing Agreements
- 10.1.4 Conferences and Campaigns
- 10.2 Company Categorization
- 10.2.1 Innovators
- 10.2.2 Market Leaders
- 10.3 Vendor Landscape
- 10.3.1 List of key distributors and channel partners
- 10.3.2 Key customers
- 10.4 Public Companies
- 10.4.1 Key company market share analysis, 2022
- 10.4.2 Company market position analysis
- 10.4.3 Heat map analysis
- 10.4.4 Competitive Dashboard Analysis
- 10.4.4.1 Market Differentiators
- 10.5 Private Companies
- 10.5.1 List of key emerging companies
- 10.5.2 Regional Network Map
- 10.6 Company Profile
- 10.6.1 Teva Pharmaceutical Industries Ltd
- 10.6.1.1 Company overview
- 10.6.1.2 Financial performance
- 10.6.1.3 Product benchmarking
- 10.6.1.4 Strategic initiatives
- 10.6.2 Viatris Inc.)
- 10.6.2.1 Company overview
- 10.6.2.2 Financial performance
- 10.6.2.3 Product benchmarking
- 10.6.2.4 Strategic initiatives
- 10.6.3 Sun Pharmaceutical Industries Ltd.
- 10.6.3.1 Company overview
- 10.6.3.2 Financial performance
- 10.6.3.3 Product benchmarking
- 10.6.3.4 Strategic initiatives
- 10.6.4 LUPIN
- 10.6.4.1 Company overview
- 10.6.4.2 Financial performance
- 10.6.4.3 Product benchmarking
- 10.6.4.4 Strategic initiatives
- 10.6.5 Novartis AG
- 10.6.5.1 Company overview
- 10.6.5.2 Sandoz International GmbH
- 10.6.5.3 Financial performance
- 10.6.5.4 Product benchmarking
- 10.6.5.5 Strategic initiatives
- 10.6.6 Allergan
- 10.6.6.1 Company overview
- 10.6.6.2 Financial performance
- 10.6.6.3 Product benchmarking
- 10.6.6.4 Strategic initiatives
- 10.6.7 AstraZeneca
- 10.6.7.1 Company overview
- 10.6.7.2 Financial performance
- 10.6.7.3 Product benchmarking
- 10.6.7.4 Strategic initiatives
- 10.6.8 Sawai Pharmaceutical Co., Ltd.
- 10.6.8.1 Company overview
- 10.6.8.2 Financial performance
- 10.6.8.3 Product benchmarking
- 10.6.8.4 Strategic initiatives
- 10.6.9 Hikma Pharmaceuticals PLC
- 10.6.9.1 Company overview
- 10.6.9.2 Financial performance
- 10.6.9.3 Product benchmarking
- 10.6.9.4 Strategic initiatives
- 10.6.10 Dr. Reddy's Laboratories Ltd.
- 10.6.10.1 Company overview
- 10.6.10.2 Financial performance
- 10.6.10.3 Product benchmarking
- 10.6.10.4 Strategic initiatives
- 10.6.11 Cipla Inc.
- 10.6.11.1 Company overview
- 10.6.11.2 Financial performance
- 10.6.11.3 Product benchmarking
- 10.6.11.4 Strategic initiatives
- 10.6.12 Sanofi
- 10.6.12.1 Company overview
- 10.6.12.2 Financial performance
- 10.6.12.3 Product benchmarking
- 10.6.12.4 Strategic initiatives
- 10.6.13 Aurobindo Pharma
- 10.6.13.1 Company overview
- 10.6.13.2 Financial performance
- 10.6.13.3 Product benchmarking
- 10.6.13.4 Strategic initiatives
- 10.6.14 Endo International plc
- 10.6.14.1 Company overview
- 10.6.14.2 Financial performance
- 10.6.14.3 Product benchmarking
- 10.6.14.4 Strategic initiatives