‘Generic Drugs Market Worth $384.0bn In 2021’ Says Visiongain Report
29 August 2018
Visiongain’s new report Generic Drugs Market Forecast 2017-2027: Growth in Leading Regional and National Markets – US, EU5, Asia-Pacific, Emerging Markets indicates that the generic drugs market will see $384.0bn in spending in 2021.
The generic drugs market is expected to grow at a CAGR of 8.8% in the first half of the forecast period and CAGR of 7.0% in the second half of the forecast period. The market is expected to grow at a CAGR of 7.9% from 2015 to 2027. The market is estimated at $254.6bn in 2016, $384.0bn in 2021, and $574.7bn in 2027.
The lead analyst of the report said: “The global generics market is assured of good growth rates and high revenues. Drivers in this market include the continual assistance of governments in promoting the use of generics as a mean to cut healthcare costs and the perpetual loss of patents of high earning branded pharmaceuticals. Other drivers include an increase in the ageing population who are most likely to become ill and will therefore demand cheap and effective drugs, generic or otherwise. However, a major concern to generic companies has to be the high level of competition within this market which will inevitably lead to lower prices and overall profitability. A general trend in response to this will be a higher level of merger and acquisitions between generic companies.
In a further response to this competition there will be an increasingly number of generic companies who will be investing in the production of their own branded patentable drugs. However, the future of the generics market, whatever form it takes, will continue to be lucrative and very attractive“
The 303 page report contains 89 tables and 87 charts that add visual analysis in order to explain the developing trends within the Generic Drugs Market. Visiongain provides revenue forecasts for the period 2017-2027.
The 303 page report offers market forecasts and analysis for 14 leading national markets: US, Japan, Germany, UK, France, Spain, Italy, Brazil, Russia, China, India, South Korea, Mexico and Turkey. In addition, the report contains a dedicated leading companies’ chapter covering companies leading the field in the generic drugs market.
The Generic Drugs Market Forecast 2017-2027: Growth in Leading Regional and National Markets – US, EU5, Asia-Pacific, Emerging Markets report will be of value to anyone who wants to better understand the Generic Drugs market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the Generic Drugs industry.
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