How Has The Generic Pharmaceuticals Market Size Evolved In Recent Years?
The generic pharmaceuticals market has seen considerable growth due to a variety of factors.
• Over the past few years, there's been substantial growth in the generic pharmaceuticals market size. The market, which was valued at $457.04 billion in 2024, is expected to increase to $492.16 billion in 2025. This growth is projected to occur at a compound annual growth rate (CAGR) of 7.7%.
The historical growth can be linked to various factors such as heightened health awareness and spending, the ending of drug patents, a rising incidence of respiratory conditions, lifestyle modifications, an increase in surgical procedures, strong economic growth in the emerging markets, greater insurance coverage, a rapidly aging population, and an upsurge in approvals.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Generic Pharmaceuticals Market?
The generic pharmaceuticals market is expected to maintain its strong growth trajectory in upcoming years.
• Over the next few years, the market for generic pharmaceuticals is anticipated to experience robust growth, forecasting to hit $666.48 billion in 2029, growing at a compound annual growth rate (CAGR) of 7.9%.
Factors that can account for this growth include an increased occurrence of chronic diseases, supportive regulatory bodies, innovative drug discovery and delivery techniques, upward trend in healthcare expenditure, a growing elderly population, and key drug patents. The forecast period is also projected to witness trends such as the increased utilization of 3D printing technology, the adoption of artificial intelligence (AI), the use of biomarkers in drug development, collaborative efforts for spurring innovation, combination drug therapy, the modification of existing epilepsy medications, and the surge of generic respiratory drugs.
What Are The Leading Drivers Of Growth In The Generic Pharmaceuticals Market?
One of the significant influences propelling growth in the generic pharmaceuticals market is the escalating rate of chronic disease cases. As these illnesses become more prevalent, the demand for medication increases. Although the branded drugs are offered at a higher price, generic medicine, being cost-effective, with the same molecular formula as branded medicine, is often the preferred choice. The affordability of generic drugs, coupled with their identical chemical properties and efficacy, attract patients to purchase them over their branded counterparts. Particularly in chronic disease cases, the treatment is typically prolonged, thereby boosting the sales of generic medicine. For instance, the World Health Organization predicts a 17% rise in fatalities caused by chronic diseases over the forthcoming decade. Thus, the surge in chronic diseases contributes significantly to driving the generic pharmaceuticals market.
What Are The Key Segments Within The Global Generic Pharmaceuticals Market?
The generic pharmaceuticals market covered in this report is segmented –
1) By Type: Biosimilars, Generics
2) By Drug Delivery: Oral, Injectables, Dermal/Topical, Inhaled
3) By Therapy: CNS, Cardiovascular, Dermatology, Genitourinary/Harmonal, Respiratory, Rheumatology, Diabetes, Oncology, Biosimilars, Others
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, And Online Pharmacies
Subsegments:
1) By Biosimilars: Monoclonal Antibodies, Recombinant Proteins, Other Biologic Products
2) By Generics: Branded Generics, Generic Small Molecules, Generic Extended-Release Formulations, Over-The-Counter (OTC) Generics
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How Are New Trends Impacting The Size Of The Generic Pharmaceuticals
The application of 3D printing technology has the potential to revolutionize the production process in the generic pharmaceuticals market. This technology facilitates enhanced productivity in research and development, while also introducing new advantages for patients. It enables manufacturers to create drugs with personalized size, form, and texture, something which is unattainable through conventional generic drug manufacturing methods. Moreover, 3D printing allows for the production of generic drugs with varying release timings, appearances, and flavors. For instance, GlaxoSmithKline (GSK) concluded an investigation using ultraviolet (UV) and 3D printing to fabricate tablets for Parkinson's disease treatment. GSK Technology director, Martin Wallace, confirmed that GSK is capitalizing on 3D printing for pill and tablet production. In another interesting development, the Aprecia pharmaceutical firm introduced the 'ZipDose' technology dedicated to the production of 3D printed medications.
Who Are the Key Players in the Generic Pharmaceuticals Market?
Major companies operating in the generic pharmaceuticals market include:
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Sun Pharmaceutical Industries Ltd.
• Fresenius Kabi
• Aurobindo Pharma Limited
• Cipla Limited
• Stada Arzneimittel AG
• Lupin Pharmaceuticals. Inc.
• Dr. Reddy's Laboratories
• Mylan Inc.
• Shanghai Generic Pharmaceuticals
• Shanghai Acebright Generic Pharmaceuticals Group Co. Ltd.
• Sandoz
• Glenmark
• Kent Pharma
• Zentiva
• Apotex
• Accord Healthcare Inc.
• Acerus Pharmaceutical Drugs Corporation
• AA Pharma Inc
• LABORATORIOS SENOSIAIN SA DE CV (Senosiain)
• Siegfried Rhein
• EMS Pharma
• Hypermarcas
• Eurofarma
• Teuto Brasileiro
• Biolab Farmaceutica
• Cristalia
• União Quimica
• Boehringer Ingelheim
• Mantecorp Farmasa
• Libbs
• Cimed
• FQM Grupo
• Spimaco
• Jamjoom Pharma
• Tabuk Pharmaceutical Manufacturing
• Jazeera Pharmaceutical Industries
• Adcock Ingram
• Eurolab
• Ranbaxy (Pty) Ltd
• Aspen
What are the Regional Insights into the Generic Pharmaceuticals Market?
North America was the largest region in the generic pharmaceuticals market in 2024. Middle East is expected to be the fastest-growing region in the generic pharmaceuticals market report during the forecast period. The regions covered in the generic pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
