The global generic drugs market is estimated at US$xyz billion in 2020 and is projected to reach at a CAGR of xyz% during forecast period 2020-2030 to grow at a market value of US$xyz billion by 2030, taking into account assumptions for V-shaped economic conditions. The increase in healthcare expenditure and a rise in the cost of pharmaceuticals worldwide results in a strained national budget due to which a high proportion of people are not able to access to essential medications. As per the World Health Organization (WHO), approximately 30% of the world’s population lack access to essential medicines. The main factor that hampers access to these medicines is the cost of these pharmaceutical drugs. The robust growth of the pharmaceutical market and increase in the share of total healthcare spending have reignited the age-old debate on how to balance the cost of innovation in drug research and grant universal access to that research.
Reduction in healthcare expenditure by generic medicines has been acknowledged for a long time. Multiple studies have proven that substituting the brand name drugs with cheaper generic medicines can prove to save about 10-90% of the cost spent on the preparation of these medicines. Government initiatives like reimbursement policies have further encouraged the use of generic drugs and this policy has led the adoption of using generic medicines as a substitute over expensive branded original medications by various healthcare systems.
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Market Driving Forces • Emerging market: This factor has a direct link with the growth of the geographical generic drug market. So, with the emergence of new generic markets, the competition for generic drugs is increasing because of which various regions and companies are competing to increase their sales of generic drugs in the market.• Awareness and advance healthcare systems: Earlier, people, as well as the doctors, were not quite aware of the use of generic drugs but after the introduction of generic drugs, companies and organizations have come up with workshops, conferences and training to promote the idea of generic drugs so that, people could be well-aware of its use.• Cost-effectiveness and increasing investments: The cost of generic drugs is quite cheap as compared to the brand-name drugs which have increased the sales of generic drugs in the market. As the cost of these drugs is affordable so, many companies have started investing in manufacturing the generic drugs.• Increase of chronic diseases and the ageing population: This is one of the most important factors that contribute to driving the sales of generic drugs.
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Report Scope
• Generic Drugs Market by Drug Delivery forecasts from 2020-2030
• Generic Drugs Market by Distribution Channel forecasts from 2020-2030
Generic Drugs Market by Application forecasts from 2020-2030
• Generic Drugs Market forecasts from 2020-2030 by Regional and National Market:
The global generic drugs market is estimated at US$xyz billion in 2020 and is projected to reach at a CAGR of xyz% during forecast period 2020-2030 to grow at a market value of US$xyz billion by 2030, taking into account assumptions for V-shaped economic conditions.
• Profiles and generic drugs revenue forecasts from 2020-2030 of these selected leading companies:
• Qualitative analysis of the generic drugs market:
• Key Questions Answered by This Report:
Visiongain’s study is intended for anyone requiring commercial analyses for the Generic Drugs Market. You find data, trends and predictions.
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Buy our report today Generic Drugs Market Report 2020-2030 : 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)
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1. Report Overview
2. Executive Summary
3. Generic Drugs Industry Overview
4. Regulatory Environment: Major Generic Issues
5. Market Dynamics
6. Global Generic Drugs Market Analysis
7. Generic Drugs Market Analysis by Geography
8. North America Generic Drugs Market Analysis
9. Europe Generic Drugs Market Analysis
10. Asia-Pacific Generic Drugs Market Analysis
11. Middle East and Africa Generic Drugs Market
12. Latin America Generic Drugs Market
13. Porter’s Five Forces Analysis of Global Generic Drugs Market
14. Leading Generic Drugs Manufacturing Company Profiles
15. Global Generic Drugs Mapping and Analysis
16. Conclusion and Future Implication
Glossary
List of Tables
List of Figures
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