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Generic Drugs Market by Type, Route Of Administration, and Geography - Forecast and Analysis 2023-2027

  • Published: Dec 2022
  • Pages: 167
  • SKU: IRTNTR44584
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The generic drugs market is estimated to grow at a CAGR of 7.11% between 2022 and 2027. The size of the market is forecasted to increase by USD 176.25 billion. The growth of the market depends on serval factors, including low-cost alternatives, the increased outsourcing of drug discovery and development, and the rising drug patent expirations. 

This report extensively covers market segmentation by type (small-molecule generics and biosimilars), route of administration (oral, injectables, topical, and inhalers), and geography (North America, Europe, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Generic Drugs Market During the Forecast Period?

Generic drugs Market Size

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Parent Market Analysis

Technavio categorizes the global generic drugs market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent market, the global pharmaceuticals market, covers products and companies engaged in the R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Generic Drugs Market: Key Drivers, Trends, Challenges, and Customer Landscape

The rising drug patent expirations are notably driving the market growth, although factors such as stringent regulations may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Generic Drugs Market Driver

The rising drug patent expirations are notably driving the market growth. Increasing patent expirations are helping other drug companies, such as Abbott, to produce generic drugs with the same APIs as brand-name drugs. The expiration of patent drugs gives such companies the opportunity to design branded drugs and make them more affordable because when the patent expires, the company's drug monopoly ceases to exist.

More and more drug patents are expiring, forcing more and more generic companies to produce branded generics. After the patent period expires, any drug manufacturer can apply to the FDA for a generic version that is chemically identical to the brand name.  Therefore, the increase in the number of generics due to patent expiry will significantly affect the growth of the global generics market during the forecast period.

Significant Generic Drugs Market Trend

Hospital-owned generics are a major trend in the market. A huge number of hospitals are focusing on forming generic drug companies to solve the problem of shortage or significantly overpriced drugs. The shortage of medicines forces hospitals to pay exorbitant prices to procure medicines.

The generic drug industry is irrational and arbitrary in drug pricing and creates artificial scarcity to maximize profits. Thus, rather than relying on generic manufacturers, hospitals are forming consortia to produce their own generic drugs. More hospitals are producing their own generic drugs to gradually reduce drug costs. Thus, the number of hospitals focusing on forming generic drug companies will fuel the market growth during the forecast period.

Major Generic Drugs Market Challenge

Stringent regulation is a major challenge impeding the market growth. The use of fake generic drugs can lead to treatment failure, worsening of the disease, drug resistance, and death. Such factors also undermine trust in healthcare systems, healthcare professionals, pharmaceutical manufacturers, and distributors. Hence, governments have developed rules and regulations to protect their citizens who may not be aware of the harmful effects of the drugs they are using. They will establish strong national regulatory agencies to ensure effective regulation of the production, trade, and use of medicines.

The US FDA and Health Canada require generic drugs to match original brand drugs in terms of strength, quality, purity, and safety. The FDA requires manufacturers to conduct bioequivalence testing of generic drugs because generic drugs must also deliver the same amount of API into the human body as their brand-name counterparts. Pharmaceutical companies must also submit an ANDA for approval to market a generic drug that is bioequivalent to the branded version. After the FDA approves a drug, it continues to investigate the drug's safety by constantly monitoring the drug. Thus, strict government measures for the approval and supervision of drugs will restrict players from entering the market, which will hinder the market growth during the forecast period.

Key Generic Drugs Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Generic drugs Market Share by Geography

Global Generic drugs Market Customer Landscape

Who are the Major Generic drugs Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Biocon Ltd. - The company operates under multiple segments including biosimilars, and generics among others with a high focus on biosimilars.? The company under this segment?offers to develop high-quality, affordable biosimilars that can expand access to cutting-edge therapeutics for patients globally. The company's key offerings include a range of generic drugs. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Abbott Laboratories
  • Amgen Inc.
  • Aurobindo Pharma Ltd.
  • Baxter International Inc.
  • Dr Reddys Laboratories Ltd.
  • Eli Lilly and Co.
  • Endo International Plc
  • Fresenius SE & Co. KGaA
  • GlaxoSmithKline Plc
  • Merck and Co. Inc.
  • Novartis AG
  • Pfizer Inc.
  • Sanofi SA
  • Teva Pharmaceutical Industries Ltd.
  • Viatris Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Generic Drugs Market?

The market share growth by the small-molecule generics segment will be significant during the forecast period. Generic drugs are copies of brand-name drugs that have the same dosage, intended use, side effects, and other pharmacological effects as brand-name drugs. 

Generic drugs Market Size

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The small-molecule generics segment was valued at USD 318.51 billion in 2017 and continued to grow until 2021. Generic drugs work the same and offer the same clinical benefits as their brand-name versions because they act as equivalent substitutes for the brand name. Pharmaceutical companies can make generic drugs when the patent for the brand name has expired. Globally, the use of small-molecule generics is increasing because they cost significantly less than brand-name drugs, and the shorter approval process for small-molecule generics without animal testing and clinical trials reduces drug development time and research and development costs. Several generic drug manufacturers also receive approval to market a single product, which brings competition to the market and lowers drug prices. Recently, super generics have also appeared, which are better versions of small-molecule generics. Therefore, the low cost of small-molecule generics, the emergence of super-generics, lower investment requirements for manufacturers, and simpler synthetic chemical reactions to produce exact copies of the brand name are driving market entry. Thus, these factors are expected to contribute to the growth of the generic drugs market during the forecast period.

Which are the Key Regions for the Generic Drugs Market?

Generic drugs Market Share by Geography

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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

North America is leading the global generic drugs market. The US is home to key players. These vendors offer various highly differentiated products, which both physicians and patients tend to adopt. One of the reasons for market growth in North America is the increase in chronic diseases. The rise in major health disorders is mainly due to lifestyle changes and increased consumption of alcohol and tobacco in the US. Meanwhile, in Canada, an increase in the incidence of breast cancer is triggering the demand for biosimilars, supported by their therapeutic benefits and reduced costs.

As these drugs are bioequivalent to brand-name drugs in dosage, form, safety, strength, route of administration, and intended use, they are gaining popularity. Organizations represent generic pharmaceutical and biosimilar companies and work to maintain the low cost of current drugs and reduce the cost of developing new drugs. The presence of such organizations in the region strengthens the adoption of generic drugs. 

The US and Canada are the leading countries in North America using generic drugs. Generic drugs are extensively sold in the US at substantial discounts. The Government of Canada requires companies to submit information on drugs and other health products to Health Canada before their products can be sold; this is to monitor the product's safety, effectiveness, and quality. Therefore, the increased presence of such prominent generic pharmaceutical companies boosts the sales and exports of generic drugs, thereby leading to the growth of the market during the forecast period.

The outbreak of COVID-19 adversely affected most countries in North America. However, the regional generic drugs market witnessed a mixed impact. Moreover, as pharmaceuticals were included under essential services, the demand for and supply of generic drugs was not affected in the region. Like many other pharmaceutical products, generic drugs were made available to the related stakeholders in 2021. Hence, the above factors will grow the regional market during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Type (Small-molecule generics and Biosimilars), Route Of Administration (Oral, Injectables, Topical, and Inhalers), and Geography (North America, Europe, Asia, and Rest of World (ROW)).

  • Type Outlook (USD Billion, 2017 - 2027)
    • Small-molecule generics
    • Biosimilars
  • Route Of Administration Outlook (USD Billion, 2017 - 2027)
    • Oral
    • Injectables
    • Topical
    • Inhalers
  • Region Outlook (USD Billion, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia
      • China
      • India
      • Vietnam
      • Thailand
      • Others
    • Rest of World
      • Saudi Arabia
      • South Africa
      • Brazil
      • Chile
      • Argentina
      • Others

Generic Drugs Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.11%

Market growth 2023-2027

USD 176.25 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

6.18

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 37%

Key countries

US, Germany, UK, China, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Abbott Laboratories, Amgen Inc., Aurobindo Pharma Ltd., Baxter International Inc., Biocon Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, Fresenius SE & Co. KGaA, GlaxoSmithKline Plc, Merck and Co. Inc., Novartis AG, Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries Ltd., Viatris Inc., Sun Pharmaceutical Industries Ltd., Lupin Ltd., Cadila Pharmaceuticals Ltd., and Cipla Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Generic Drugs Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the generic drugs market  between 2023 and 2027
  • Precise estimation of the generic drugs market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across North America, Europe, Asia, and Rest of World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of generic drugs market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Route of Administration
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global generic drugs market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global generic drugs market 2017 - 2021 ($ billion)
    • 4.2 Type Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
    • 4.3 Route of administration Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Route of administration Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Small-molecule generics - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Small-molecule generics - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Small-molecule generics - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Small-molecule generics - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Small-molecule generics - Year-over-year growth 2022-2027 (%)
    • 6.4 Biosimilars - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Biosimilars - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Biosimilars - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Biosimilars - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Biosimilars - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ billion)

    7 Market Segmentation by Route of Administration

    • 7.1 Market segments
      • Exhibit 43: Chart on Route of Administration - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Route of Administration - Market share 2022-2027 (%)
    • 7.2 Comparison by Route of Administration
      • Exhibit 45: Chart on Comparison by Route of Administration
      • Exhibit 46: Data Table on Comparison by Route of Administration
    • 7.3 Oral - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Oral - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Data Table on Oral - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Chart on Oral - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Oral - Year-over-year growth 2022-2027 (%)
    • 7.4 Injectables - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Injectables - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Injectables - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Injectables - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Injectables - Year-over-year growth 2022-2027 (%)
    • 7.5 Topical - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Topical - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 56: Data Table on Topical - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Chart on Topical - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Topical - Year-over-year growth 2022-2027 (%)
    • 7.6 Inhalers - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Inhalers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 60: Data Table on Inhalers - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 61: Chart on Inhalers - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Inhalers - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Route of Administration
      • Exhibit 63: Market opportunity by Route of Administration ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 65: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 66: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 67: Chart on Geographic comparison
      • Exhibit 68: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 Asia - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Asia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Asia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Asia - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Asia - Year-over-year growth 2022-2027 (%)
    • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • 9.7 US - Market size and forecast 2022-2027
      • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.8 Germany - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 India - Market size and forecast 2022-2027
      • Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.12 Market opportunity by geography
      • Exhibit 105: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 108: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 109: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 110: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 111: Matrix on vendor position and classification
            • 12.3 Amgen Inc.
              • Exhibit 112: Amgen Inc. - Overview
              • Exhibit 113: Amgen Inc. - Product / Service
              • Exhibit 114: Amgen Inc. - Key offerings
            • 12.4 Aurobindo Pharma Ltd.
              • Exhibit 115: Aurobindo Pharma Ltd. - Overview
              • Exhibit 116: Aurobindo Pharma Ltd. - Product / Service
              • Exhibit 117: Aurobindo Pharma Ltd. - Key offerings
            • 12.5 Baxter International Inc.
              • Exhibit 118: Baxter International Inc. - Overview
              • Exhibit 119: Baxter International Inc. - Business segments
              • Exhibit 120: Baxter International Inc. - Key news
              • Exhibit 121: Baxter International Inc. - Key offerings
              • Exhibit 122: Baxter International Inc. - Segment focus
            • 12.6 Biocon Ltd.
              • Exhibit 123: Biocon Ltd. - Overview
              • Exhibit 124: Biocon Ltd. - Business segments
              • Exhibit 125: Biocon Ltd. - Key offerings
              • Exhibit 126: Biocon Ltd. - Segment focus
            • 12.7 Cadila Pharmaceuticals Ltd.
              • Exhibit 127: Cadila Pharmaceuticals Ltd. - Overview
              • Exhibit 128: Cadila Pharmaceuticals Ltd. - Product / Service
              • Exhibit 129: Cadila Pharmaceuticals Ltd. - Key offerings
            • 12.8 Cipla Ltd.
              • Exhibit 130: Cipla Ltd. - Overview
              • Exhibit 131: Cipla Ltd. - Business segments
              • Exhibit 132: Cipla Ltd. - Key news
              • Exhibit 133: Cipla Ltd. - Key offerings
              • Exhibit 134: Cipla Ltd. - Segment focus
            • 12.9 Dr Reddys Laboratories Ltd.
              • Exhibit 135: Dr Reddys Laboratories Ltd. - Overview
              • Exhibit 136: Dr Reddys Laboratories Ltd. - Business segments
              • Exhibit 137: Dr Reddys Laboratories Ltd. - Key offerings
              • Exhibit 138: Dr Reddys Laboratories Ltd. - Segment focus
            • 12.10 Fresenius SE and Co. KGaA
              • Exhibit 139: Fresenius SE and Co. KGaA - Overview
              • Exhibit 140: Fresenius SE and Co. KGaA - Business segments
              • Exhibit 141: Fresenius SE and Co. KGaA - Key news
              • Exhibit 142: Fresenius SE and Co. KGaA - Key offerings
              • Exhibit 143: Fresenius SE and Co. KGaA - Segment focus
            • 12.11 Merck and Co. Inc.
              • Exhibit 144: Merck and Co. Inc. - Overview
              • Exhibit 145: Merck and Co. Inc. - Business segments
              • Exhibit 146: Merck and Co. Inc. - Key news
              • Exhibit 147: Merck and Co. Inc. - Key offerings
              • Exhibit 148: Merck and Co. Inc. - Segment focus
            • 12.12 Novartis AG
              • Exhibit 149: Novartis AG - Overview
              • Exhibit 150: Novartis AG - Business segments
              • Exhibit 151: Novartis AG - Key offerings
              • Exhibit 152: Novartis AG - Segment focus
            • 12.13 Pfizer Inc.
              • Exhibit 153: Pfizer Inc. - Overview
              • Exhibit 154: Pfizer Inc. - Product / Service
              • Exhibit 155: Pfizer Inc. - Key news
              • Exhibit 156: Pfizer Inc. - Key offerings
            • 12.14 Sanofi SA
              • Exhibit 157: Sanofi SA - Overview
              • Exhibit 158: Sanofi SA - Business segments
              • Exhibit 159: Sanofi SA - Key news
              • Exhibit 160: Sanofi SA - Key offerings
              • Exhibit 161: Sanofi SA - Segment focus
            • 12.15 Sun Pharmaceutical Industries Ltd.
              • Exhibit 162: Sun Pharmaceutical Industries Ltd. - Overview
              • Exhibit 163: Sun Pharmaceutical Industries Ltd. - Product / Service
              • Exhibit 164: Sun Pharmaceutical Industries Ltd. - Key offerings
            • 12.16 Teva Pharmaceutical Industries Ltd.
              • Exhibit 165: Teva Pharmaceutical Industries Ltd. - Overview
              • Exhibit 166: Teva Pharmaceutical Industries Ltd. - Business segments
              • Exhibit 167: Teva Pharmaceutical Industries Ltd. - Key news
              • Exhibit 168: Teva Pharmaceutical Industries Ltd. - Key offerings
              • Exhibit 169: Teva Pharmaceutical Industries Ltd. - Segment focus
            • 12.17 Viatris Inc.
              • Exhibit 170: Viatris Inc. - Overview
              • Exhibit 171: Viatris Inc. - Business segments
              • Exhibit 172: Viatris Inc. - Key offerings
              • Exhibit 173: Viatris Inc. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 174: Inclusions checklist
                • Exhibit 175: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 176: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 177: Research methodology
                • Exhibit 178: Validation techniques employed for market sizing
                • Exhibit 179: Information sources
              • 13.5 List of abbreviations
                • Exhibit 180: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Generic drugs market growth will increase by $176.25 billion during 2023-2027.
              The generic drugs market is expected to grow at a CAGR of 7.11% during 2023-2027.
              Technavio has segmented the generic drugs market by type (Small-molecule generics and Biosimilars) ,route of administration (Oral, Injectables, Topical, and Inhalers) , and geography (North America, Europe, Asia, and Rest of World (ROW)).
              Abbott Laboratories, Amgen Inc., Aurobindo Pharma Ltd., Baxter International Inc., Biocon Ltd., Dr Reddys Laboratories Ltd., Eli Lilly and Co., Endo International Plc, Fresenius SE and Co. KGaA, GlaxoSmithKline Plc, Merck and Co. Inc., Novartis AG, Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries Ltd., Viatris Inc., Sun Pharmaceutical Industries Ltd., Lupin Ltd., Cadila Pharmaceuticals Ltd., Cipla Ltd. are a few of the key vendors in the generic drugs market.
              North America will register the highest growth rate of 37.29% among the other regions. Therefore, the generic drugs market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the generic drugs market growth are:
              • Low-cost alternatives
              • Advent of RPA
              The generic drugs market vendors should focus on grabbing business opportunities from the small-molecule generics segment as it accounted for the largest market share in the base year.
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