Dublin, April 19, 2021 (GLOBE NEWSWIRE) -- The "Global Generic Drugs Market, By Type (Small Molecule Generics vs Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Others), By Drug Delivery, By Form, By Source, By Distribution Channel, By Company, By Region, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Generic Drugs Market was valued at USD371.04 billion in 2020 and is anticipated to reach USD564.43 billion until 2026 by witnessing a CAGR of 7.08% during the forecast period.
The Global Generic Drugs Market is driven by rising prevalence of chronic diseases across the globe. Moreover, availability of generic drugs at a lower cost and having the same chemical composition of branded drugs is one of the key factors which is positively impacting the growth of the market during the forecast period. Also, increasing count of drug patent expirations is further expected to bolster the growth of the market over the next few years.
The Global Generic Drugs Market is segmented based on type, application, drug delivery, form, source, distribution channel, company, and region. In terms of application, the market can be categorized into cardiovascular diseases, diabetes, neurology, oncology, anti-inflammatory diseases, others.
Out of which, the cardiovascular diseases segment dominated the market by holding 35.05% market share in 2020 and the segment is expected to maintain its leading position in the market during the forecast period as well. This can be ascribed to majority of population dealing with cardiovascular diseases across the globe.
On the contrary, the diabetes segment is anticipated to register the highest growth in the coming years which can be attributed to ever increasing prevalence of diabetes predominantly in Asia-Pacific region. Also, growing use of metformin generic drug for the treatment of diabetes owing to its effectiveness, is further contributing to the segmental growth.
The major players operating in the Global Generic Drugs Market are Teva Pharmaceutical Industries Ltd, Mylan NV, Sandoz International GmbH (Novartis AG), Lupin Limited, Pfizer Inc., Sun Pharmaceutical Industries Limited, Endo Pharmaceuticals Inc., Aurobindo Pharma Limited, Dr Reddy's Laboratories Ltd., Fresenius Kabi AG, Aspen Pharmacare Holdings Limited, Sanofi S.A., Cipla Ltd., Novo Nordisk A/S, Abbott Laboratories Inc., and others.
Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions, partnership, agreements, and new developments in order to expand their geographic reach and to increase their customer base.
Objective of the Study:
To analyze historical growth in market size of the Global Generic Drugs Market from 2016 to 2019.
To estimate and forecast the market size of the Global Generic Drugs Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Generic Drugs Market based on type, application, drug delivery, form, source, distribution channel, company and regional distribution.
To identify dominant region or segment in the Global Generic Drugs Market.
To identify drivers and challenges for the Global Generic Drugs Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Generic Drugs Market.
To conduct pricing analysis for the Global Generic Drugs Market.
To identify and analyze the profiles of leading players operating in the Global Generic Drugs Market.
To identify key sustainable strategies adopted by market players in the Global Generic Drugs Market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Generic Drugs Market, By Type:
Small Molecule Generics
Global Generic Drugs Market, By Application:
Global Generic Drugs Market, By Drug Delivery:
Global Generic Drugs Market, By Form:
Global Generic Drugs Market, By Source:
Contract Manufacturing Organizations
Global Generic Drugs Market, By Distribution Channel:
Global Generic Drugs Market, By Region:
Middle East & Africa
Teva Pharmaceutical Industries Ltd.
Sandoz International GmbH (Novartis AG)
Sun Pharmaceutical Industries Limited
Endo Pharmaceuticals Inc.
Aurobindo Pharma Limited
Dr Reddy's Laboratories Ltd.
Fresenius Kabi AG
Aspen Pharmacare Holdings Limited
Novo Nordisk A/S
Abbott Laboratories Inc.
Key Target Audience:
Generic drugs manufacturers
Market research and consulting firms
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to generic drugs
For more information about this report visit https://www.researchandmarkets.com/r/nxfvy6
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