DUBLIN--(BUSINESS WIRE)--The "Generic Drugs Market: Global Industry Trends, Manufacturing Process, Share, Size, Growth, Opportunity and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global generic drugs market was valued at around US$ 244.5 Billion in 2017, growing at a CAGR of around 8% during 2010-2017.
Generic drugs are launched and marketed after the expiry date of the patent or other exclusive rights. Although generic drugs are chemically identical to their branded counterparts, they are typically sold at substantial discounts from the branded price. Unlike branded drug manufacturers who spend millions of dollars on R&D and marketing, generic drug manufacturers do not require such investments. Since the drug's formula is known, the clinical trials are complete; the generic drug manufacturer's only requirement is to demonstrate to the regulators that its version is as good and effective as the innovator or branded drug.
The biggest catalyst for growth is an increasing global pharmaceutical spending trend towards generics. Continuously increasing healthcare expenditures have pushed governments and third-party payers to seek ways to control their healthcare expenditures. This is catalyzing an increasing demand for generics versus their branded counterparts. Another major driver of this industry is the continued patent cliff that is providing growing pipelines opportunities for generic firms.
Similarly, a growth in the overall global population and aging demographics is also proving to be beneficial for the overall healthcare sector including generic drug manufacturers. Healthcare reforms in the US and other developed markets coupled with strong growth in emerging market are some other important drivers for the generic drugs market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
5 Global Generic Drug Industry
6 Performance of Key Countries
7 Competitive Landscape
8 Generic Drug Manufacturing Process
9 Project Details, Requirements and Costs Involved
10 Loans and Financial Assistance
11 Project Economics
- Teva Pharmaceuticals
For more information about this report visit https://www.researchandmarkets.com/research/bc6xft/global_generic?w=4