Generic Drug Market Size, Trends and Insights By Brand (Branded generic drugs, Pure generic drugs), By Route of Administration (Topical, Oral, Parental, Others), By Therapeutic Application (Cardiovascular system, Oncology , Dermatology, Respiratory system, Central nervous system, Others), By Distribution Channel (Retail pharmacies, Hospital pharmacies, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Alkem Laboratories Limited
- Teva Pharmaceutical Industries Limited
- Cipla Ltd.
- Reddy’s Laboratories Ltd.
- Others
Reports Description
According to Custom Market Insights (CMI), The Global Generic Drug Market Size was valued at USD 390.57 billion in 2021 and is expected to reach USD 443.13 billion in 2022, is estimated to reach USD 675.18 billion by the end of 2030 at a CAGR of approximately 6.2% during the forecast period 2022-2030.
The market has recently seen a rise in demand for generic medications as a result of individuals becoming more aware of the range of affordable options offered by both the public and private sectors. Also, the main market players’ considerable research and development efforts to bring cutting-edge medications under the umbrella of generic drugs have helped the market to experience phenomenal growth over the course of the projection period.
The vast aging population has contributed to a sharp rise in patient numbers globally, which has helped the market reach new heights. People frequently choose generic medications since they work similarly to branded medications in terms of how they affect the body. Also, the prevalence of chronic diseases among individuals around the world has contributed to the generic medication market’s notable growth. The market always necessitates the demand and supply of specific medicines since chronic illnesses take a long time to fully treat. As a result, the ability of these medications, which fall into the generic drug category, has been developing, greatly accelerating the market’s growth.
COVID-19 Analysis:
- Due to the enormous demand and supply that existed in the market, the COVID pandemic outbreak had a substantial impact on the generic medication industry.
- The people who were affected by the epidemic also endured a number of related illnesses and ailments, adding to the financial burden on the populace. As a result, the leading market participants’ provision of cutting-edge generic medications became apparent as a feasible solution for these individuals.
People’s growing preference for generic medications due to their similarity to the medicine’s primary ingredients has enabled the market to expand significantly over the course of the forecast period. As a result, the market placed a huge demand on the sales and supply of medications that affect the cardiovascular system. Also, the large number of persons who had the disease during the pandemic contributed to the market for generic medications seeing enormous growth. In order to lower the overall cost of therapy, patients chose branded and pure generic medications.
Developing Factors:
- Leading players in the generic drug market have released new medications that use cutting-edge technology to treat patients and speed up cures while having fewer negative side effects on the body of the patient. T
- The economics of the market has been bolstered by significant investments made by the major market participants to improve and develop the production and manufacturing process for generic drugs.
- Modern technology has dramatically lowered the overall cost of production, which has become a key factor in the growth of the generic medication market.
- Also, the economy of the generic medicine industry has been greatly bolstered by recent developments that have occurred in the market in the form of acquisitions and collaborations among various market competitors.
- Additionally, growing consumer acceptance of generic medications has also been identified as a critical aspect that is anticipated to significantly increase market size during the projection period.
- The market’s abundance of wholesale distributors and dealers has further boosted demand for generic medications.
- Also, the prevalence of various chronic conditions among older adults who already have a limited amount of disposable income emerges as a significant driving force that significantly boosts the market and is anticipated to continue to do so given the current market trend. During the anticipated period, these elements started to emerge as the market’s drivers of growth.
Segmental Insights
Segmentation of the generic drug market based on Brand
Due to the high demand shown in the market, the segment of pure generics, based on the Brand, has proven to be the fastest-growing category. The segment of pure genetics has also shown great growth, and it is anticipated that this trend will continue in the future, thanks to the public’s growing knowledge of the originality and quality of pharmaceuticals.
Pure generic drugs are now capturing the present industry thanks to the growing competition among the major market companies to introduce cutting-edge, extremely high-quality medications. The therapeutic value of pure generic medications is far higher than that of their rivals. The usage of pure generic medications has had a significant positive impact on people’s health, which has increased life expectancy.
In order to meet their needs, potential customers also buy these medications in huge quantities. The necessity for specific components in medications has led to a sharp rise in the sales and demand of pure genetic drugs, which has significantly increased market size. On the other hand, because of their market recognition and brand value, branded generic medications are predicted to have a better future.
The branded generics’ current position has been aided by the loyalty with which they have served the public. It enables people to select a better option than name-brand medications. Branded generics are slightly more expensive than their rivals, nevertheless. The supply and demand of branded generics have primarily increased in urban areas as a result of growing urbanization.
Segmentation of generic drugs based on the route of Administration
Oral formulations have dominated the market in terms of the Administration route. Almost all patients over the world have shown this administration method to be the most popular one. The oral route of administration has traditionally been regarded as the safest and most practical, for humans to animals. As a result, this mode of drug administration has seen the highest sales and demand in the pharmaceutical industry.
The market has seen a significant increase in demand for topical applications, which is anticipated to continue during the projected period. The need for topical applications has increased due to the rise in occurrences of skin problems. After oral preparations, it is regarded as the most practical mode of administration.
This method of administration is frequently used to treat skin conditions in infants and young children. Since the injection is regarded as a typical route of administration in the healthcare industry, it has also made a significant contribution to the market’s expansion. Due to its quick effects on the physiological systems, this area is also seeing a growth in demand.
Segmentation of generic drugs based on Therapeutic Application
Due to the enormous number of patients present around the world, the oncology market sector has amassed the highest share in terms of therapeutic application. Cancer is a major cause of death in young and middle-aged persons. The market’s high cost of treatment alternatives puts further strain on the average person’s disposable money.
The availability of generic cancer medications on the market has greatly benefited society. Cardiovascular illnesses are the next sector that has had a significant growing contribution to the market. They must grow quickly during the projected time due to diseases of the cardiovascular system. Also, the younger generations are under immense pressure and stress owing to the workload, which has increased the number of people with cardiovascular illnesses.
Given the high cost of the medications used to treat cardiovascular disorders, generic medications are in high demand in the current market. The worldwide increase in pollution has also led to an increase in the number of occurrences of respiratory diseases. Moreover, the pandemic’s effects on and deterioration of the respiratory system had a considerable negative impact on people’s health. The number of occurrences of respiratory illnesses has also increased as a result of poor lifestyle choices.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 390.57 Billion |
| Projected Market Size in 2030 | USD 675.18 Billion |
| CAGR Growth Rate | 6.2% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | Alkem Laboratories Limited, Teva Pharmaceutical Industries Limited, Cipla Ltd., Dr. Reddy’s Laboratories Ltd., Mylan N.V., Lupin Limited, STADA Arzneimittel AG, Hikma Pharmaceuticals plc, Torrent Pharmaceuticals Ltd., Endo International plc, Aurobindo Pharma Limited, Sawai Pharmaceutical Co. Ltd., Mallinckrodt plc, Amneal Pharmaceuticals Inc., and Others |
| Key Segment | By Brand (Branded generic drugs, Pure generic drugs), By Route of Administration (Topical, Oral, Parental, Others), By Therapeutic Application (Cardiovascular system, Oncology, Dermatology, Respiratory system, Central nervous system, Others), By Distribution Channel (Retail Pharmacies, Hospital pharmacies, Others), and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Regional Perspectives:
Geographically speaking, North America is thought to be the largest consumer of generic medications. This is due to the fact that many residents of this area suffer from various chronic ailments. Also, as more residents of this region became aware of the healthcare services provided by public and private institutions, generic drug sales and demand grew quickly.
The huge increase in the population of elderly persons has increased the use of outdated medications. Also, the market for generic medications has grown due to the frequency of respiratory and cardiovascular disorders among people.
The high price of name-brand medications has increased the demand for generic medications as well. The Asia-Pacific region has become the generic medicine industry’s second-largest market. The residents in this region are under added stress due to a lack of disposable income, which has significantly increased the demand for generic medications. Due to the enormous need for generic drugs, Europe and South America have made a substantial contribution to the market’s expansion.
Key Players
- Alkem Laboratories Limited
- Teva Pharmaceutical Industries Limited
- Cipla Ltd.
- Reddy’s Laboratories Ltd.
- Mylan N.V.
- Lupin Limited
- STADA Arzneimittel AG
- Hikma Pharmaceuticals plc
- Torrent Pharmaceuticals Ltd.
- Endo International plc
- Aurobindo Pharma Limited
- Sawai Pharmaceutical Co. Ltd.
- Mallinckrodt plc
- Amneal Pharmaceuticals Inc.
Recent Development
- In September 2018 – Allergan purchased the California-based biotechnology company Bonti endurance biotech.
- In March 2019 – Allergan purchased Envy Medical, a biotechnology company that provides dermatology and medical aesthetic treatments.
- In 2018 – In order to expand its line of products for the elements that maintain the skin’s elasticity, Allergan purchased Elastagen.
Segments covered in this report
By Brand
- Branded generic drugs
- Pure generic drugs
By Route of Administration
- Topical
- Oral
- Parental
- Others
By Therapeutic Application
- Cardiovascular system
- Oncology
- Dermatology
- Respiratory system
- Central nervous system
- Others
By Distribution Channel
- Retail pharmacies
- Hospital pharmacies
- Others
On the basis of Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Generic Drug Market, (2022 – 2030) (USD Billion)
- 2.2 Global Generic Drug Market: snapshot
- Chapter 3. Global Generic Drug Market – Industry Analysis
- 3.1 Generic Drug Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Use Advanced Technology To Treat Patients And Bring About Cures In A Shorter Period
- 3.2.2 Develop Generic Drug Production And Manufacturing Process
- 3.2.3 Cost Of Production Has Been Tremendously Reduced With Modern Technology
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Brand
- 3.7.2 Market attractiveness analysis By Route of Administration
- 3.7.3 Market attractiveness analysis By Therapeutic Application
- 3.7.4 Market attractiveness analysis By Distribution Channel
- Chapter 4. Global Generic Drug Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Generic Drug Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Generic Drug Market – Brand Analysis
- 5.1 Global Generic Drug Market overview: By Brand
- 5.1.1 Global Generic Drug Market share, By Brand, 2021 and 2030
- 5.2 Branded generic drugs
- 5.2.1 Global Generic Drug Market by Branded generic drugs, 2022 – 2030 (USD Billion)
- 5.3 Pure generic drugs
- 5.3.1 Global Generic Drug Market by Pure generic drugs, 2022 – 2030 (USD Billion)
- 5.1 Global Generic Drug Market overview: By Brand
- Chapter 6. Global Generic Drug Market – Route of Administration Analysis
- 6.1 Global Generic Drug Market overview: By Route of Administration
- 6.1.1 Global Generic Drug Market share, By Route of Administration, 2021 and 2030
- 6.2 Topical
- 6.2.1 Global Generic Drug Market by Topical, 2022 – 2030 (USD Billion)
- 6.3 Oral
- 6.3.1 Global Generic Drug Market by Oral, 2022 – 2030 (USD Billion)
- 6.4 Parental
- 6.4.1 Global Generic Drug Market by Parental, 2022 – 2030 (USD Billion)
- 6.1 Global Generic Drug Market overview: By Route of Administration
- Chapter 7. Global Generic Drug Market – Therapeutic Application Analysis
- 7.1 Global Generic Drug Market overview: By Therapeutic Application
- 7.1.1 Global Generic Drug Market share, By Therapeutic Application, 2021 and 2030
- 7.2 Cardiovascular system
- 7.2.1 Global Generic Drug Market by Cardiovascular system, 2022 – 2030 (USD Billion)
- 7.3 Oncology
- 7.3.1 Global Generic Drug Market by Oncology, 2022 – 2030 (USD Billion)
- 7.4 Dermatology
- 7.4.1 Global Generic Drug Market by Dermatology, 2022 – 2030 (USD Billion)
- 7.5 Respiratory system
- 7.5.1 Global Generic Drug Market by Respiratory system, 2022 – 2030 (USD Billion)
- 7.6 Central nervous system
- 7.6.1 Global Generic Drug Market by Central nervous system, 2022 – 2030 (USD Billion)
- 7.1 Global Generic Drug Market overview: By Therapeutic Application
- Chapter 8. Global Generic Drug Market – Distribution Channel Analysis
- 8.1 Global Generic Drug Market overview: By Distribution Channel
- 8.1.1 Global Generic Drug Market share, By Distribution Channel, 2021 and 2030
- 8.2 Retail pharmacies
- 8.2.1 Global Generic Drug Market by Retail pharmacies, 2022 – 2030 (USD Billion)
- 8.3 Hospital pharmacies
- 8.3.1 Global Generic Drug Market by Hospital pharmacies, 2022 – 2030 (USD Billion)
- 8.1 Global Generic Drug Market overview: By Distribution Channel
- Chapter 9. Generic Drug Market – Regional Analysis
- 9.1 Global Generic Drug Market Regional Overview
- 9.2 Global Generic Drug Market Share, by Region, 2021 & 2030 (USD Billion)
- 9.3. North America
- 9.3.1 North America Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.3.1.1 North America Generic Drug Market, by Country, 2022 – 2030 (USD Billion)
- 9.3.1 North America Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.4 North America Generic Drug Market, by Brand, 2022 – 2030
- 9.4.1 North America Generic Drug Market, by Brand, 2022 – 2030 (USD Billion)
- 9.5 North America Generic Drug Market, by Route of Administration, 2022 – 2030
- 9.5.1 North America Generic Drug Market, by Route of Administration, 2022 – 2030 (USD Billion)
- 9.6 North America Generic Drug Market, by Therapeutic Application, 2022 – 2030
- 9.6.1 North America Generic Drug Market, by Therapeutic Application, 2022 – 2030 (USD Billion)
- 9.7 North America Generic Drug Market, by Distribution Channel, 2022 – 2030
- 9.7.1 North America Generic Drug Market, by Distribution Channel, 2022 – 2030 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.8.1.1 Europe Generic Drug Market, by Country, 2022 – 2030 (USD Billion)
- 9.8.1 Europe Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.9 Europe Generic Drug Market, by Brand, 2022 – 2030
- 9.9.1 Europe Generic Drug Market, by Brand, 2022 – 2030 (USD Billion)
- 9.10 Europe Generic Drug Market, by Route of Administration, 2022 – 2030
- 9.10.1 Europe Generic Drug Market, by Route of Administration, 2022 – 2030 (USD Billion)
- 9.11 Europe Generic Drug Market, by Therapeutic Application, 2022 – 2030
- 9.11.1 Europe Generic Drug Market, by Therapeutic Application, 2022 – 2030 (USD Billion)
- 9.12 Europe Generic Drug Market, by Distribution Channel, 2022 – 2030
- 9.12.1 Europe Generic Drug Market, by Distribution Channel, 2022 – 2030 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.13.1.1 Asia Pacific Generic Drug Market, by Country, 2022 – 2030 (USD Billion)
- 9.13.1 Asia Pacific Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.14 Asia Pacific Generic Drug Market, by Brand, 2022 – 2030
- 9.14.1 Asia Pacific Generic Drug Market, by Brand, 2022 – 2030 (USD Billion)
- 9.15 Asia Pacific Generic Drug Market, by Route of Administration, 2022 – 2030
- 9.15.1 Asia Pacific Generic Drug Market, by Route of Administration, 2022 – 2030 (USD Billion)
- 9.16 Asia Pacific Generic Drug Market, by Therapeutic Application, 2022 – 2030
- 9.16.1 Asia Pacific Generic Drug Market, by Therapeutic Application, 2022 – 2030 (USD Billion)
- 9.17 Asia Pacific Generic Drug Market, by Distribution Channel, 2022 – 2030
- 9.17.1 Asia Pacific Generic Drug Market, by Distribution Channel, 2022 – 2030 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.18.1.1 Latin America Generic Drug Market, by Country, 2022 – 2030 (USD Billion)
- 9.18.1 Latin America Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.19 Latin America Generic Drug Market, by Brand, 2022 – 2030
- 9.19.1 Latin America Generic Drug Market, by Brand, 2022 – 2030 (USD Billion)
- 9.20 Latin America Generic Drug Market, by Route of Administration, 2022 – 2030
- 9.20.1 Latin America Generic Drug Market, by Route of Administration, 2022 – 2030 (USD Billion)
- 9.21 Latin America Generic Drug Market, by Therapeutic Application, 2022 – 2030
- 9.21.1 Latin America Generic Drug Market, by Therapeutic Application, 2022 – 2030 (USD Billion)
- 9.22 Latin America Generic Drug Market, by Distribution Channel, 2022 – 2030
- 9.22.1 Latin America Generic Drug Market, by Distribution Channel, 2022 – 2030 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Generic Drug Market, by Country, 2022 – 2030 (USD Billion)
- 9.23.1 The Middle-East and Africa Generic Drug Market, 2022 – 2030 (USD Billion)
- 9.24 The Middle-East and Africa Generic Drug Market, by Brand, 2022 – 2030
- 9.24.1 The Middle-East and Africa Generic Drug Market, by Brand, 2022 – 2030 (USD Billion)
- 9.25 The Middle-East and Africa Generic Drug Market, by Route of Administration, 2022 – 2030
- 9.25.1 The Middle-East and Africa Generic Drug Market, by Route of Administration, 2022 – 2030 (USD Billion)
- 9.26 The Middle-East and Africa Generic Drug Market, by Therapeutic Application, 2022 – 2030
- 9.26.1 The Middle-East and Africa Generic Drug Market, by Therapeutic Application, 2022 – 2030 (USD Billion)
- 9.27 The Middle-East and Africa Generic Drug Market, by Distribution Channel, 2022 – 2030
- 9.27.1 The Middle-East and Africa Generic Drug Market, by Distribution Channel, 2022 – 2030 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Alkem Laboratories Limited
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Teva Pharmaceutical Industries Limited
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 Cipla Ltd.
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Dr. Reddy’s Laboratories Ltd.
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Mylan N.V.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Lupin Limited
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 STADA Arzneimittel AG
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Hikma Pharmaceuticals plc
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Torrent Pharmaceuticals Ltd.
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Endo International plc
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 Aurobindo Pharma Limited
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 Sawai Pharmaceutical Co. Ltd.
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Mallinckrodt plc
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Amneal Pharmaceuticals Inc.
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.1 Alkem Laboratories Limited
List Of Figures
Figures No 1 to 30
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Key Players
- Alkem Laboratories Limited
- Teva Pharmaceutical Industries Limited
- Cipla Ltd.
- Reddy’s Laboratories Ltd.
- Mylan N.V.
- Lupin Limited
- STADA Arzneimittel AG
- Hikma Pharmaceuticals plc
- Torrent Pharmaceuticals Ltd.
- Endo International plc
- Aurobindo Pharma Limited
- Sawai Pharmaceutical Co. Ltd.
- Mallinckrodt plc
- Amneal Pharmaceuticals Inc.
- Others
FAQs
“North America” region will lead the global Generic Drug market during the forecast period 2022 to 2030.
The low price of generic drugs as a substitute for branded medications is the leading crucial factor in the growth of the global market for generic drugs.
The key players operating in the Generic Drug market are Alkem Laboratories Limited, Teva Pharmaceutical Industries Limited, Cipla Ltd., Dr. Reddy’s Laboratories Ltd., Mylan N.V., Lupin Limited, STADA Arzneimittel AG, Hikma Pharmaceuticals plc, Torrent Pharmaceuticals Ltd., Endo International plc, Aurobindo Pharma Limited, Sawai Pharmaceutical Co. Ltd., Mallinckrodt plc, Amneal Pharmaceuticals Inc.
The global Generic Drug market is expanding growth with a CAGR of approximately 6.2% during the forecast period (2022 to 2030).
The global Generic Drug market size was valued at USD 390.57 Billion in 2021 and it is projected to reach around USD 675.18 Billion by 2030.