“Generic Drugs market set to grow to $424bn by 2024” says new Visiongain report

14 June 2019
Pharma

Visiongain has launched a new pharma report Generic Drugs Market Forecast 2019-2029: Growth in Leading Regional and National Markets – North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America, US, Canada, Germany, France, UK, Italy, Spain, India, China, Australia, South Korea, Japan, South Africa, Saudi Arabia, U.A.E, Brazil, Argentina, Mexico, Teva, Novartis, Mylan, Pfizer, Abbott, Sun Pharma, Aspen, Fresenius Kabi, Sanofi, Dr. Reddy’s Laboratories Limited, Apotex.

Generic drugs play a major role in the pharmaceutical industry of most nations. This rings true for countries both in developed and developing economic regions. Generic drugs typically account for over 50-80% of pharmaceutical sales by volume and 10-20% of sales by value. Traditional pharmaceutical companies in the past have viewed generics as ways of diversifying their business. Over the last two decades, sales of these products in emerging markets in particular have provided major growth opportunities for traditional pharma companies.

The lead analyst of the report commented "Visiongain believes the market will see more traditional pharma companies beginning to embrace the generic business in order to take advantage of higher growth rates in this area. At the same time, successful generic companies will try to innovate, pursuing more research-based pipeline candidates releasing patented drugs as well as high-value generics and biosimilars. A note of caution has to be sounded, however, in that we note that generic drug manufacturers must continuously revise their business models in an attempt to outsmart market challenges. New strategic decisions will have to be made to define their future path. This may include steps such as merging for scale, complementing the generic portfolio with a branded portfolio, or adding new offerings and services in order to provide new revenue streams."

Leading companies featured in the report include Abbott, Apotex, Aspen, Dr. Reddy’s Laboratories Limited, Fresenius Kabi, Mylan, Novartis, Pfizer, Sanofi, Sun Pharma, Teva and other companies.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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