The Business Research Company’s Generic Pharmaceuticals Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, August 6, 2021 /EINPresswire.com/ — According to the new market research report ‘Generic Pharmaceuticals Global Market Report 2021: COVID-19 Growth And Change To 2030’ published by The Business Research Company, the generic pharmaceuticals market is expected to grow from $233.66 billion in 2020 to $245.6 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The generic pharmaceuticals market is expected to reach $331.54 billion in 2025 at a CAGR of 7.8%. The rising incidence of chronic diseases is one of the major drivers of the generic pharmaceuticals market.
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The generic pharmaceuticals market consists of sales of generic pharmaceuticals. A generic medicine is a medication designed to be identical to branded drugs marketed by private companies in dosage form, strength, safety, route of administration, performance characteristics, quality, and intended use. Generic drugs work in the same way as branded drugs in terms of clinical benefits. Generic drugs are manufactured after the expiration of the exclusive rights or patent of the branded drugs. For example, some of the generic drugs in the generic pharmaceuticals market include metformin, metoprolol, acarbose, acebutolol, aztreonam, and many more.
Trends In The Global Generic Pharmaceuticals Market
3D printing technology has the ability to transform the manufacturing of drugs in the generic pharmaceuticals market. 3D printed pharmaceuticals help improve R&D productivity and deliver new benefits to patients. 3D printing allows the manufacturer to produce drugs with customized size, shape, and texture which is not possible in the traditional manufacturing of generic drugs. 3D printing can help the manufacturer to make generic drugs that have different release dates, appearances, and tastes. For example, GlaxoSmithKline (GSK) completed a study where ultraviolet (UV) and 3D printing were used to manufacture tablets to treat Parkinson’s disease. Martin Wallace, director of GSK Technology, said that GSK is investing in 3D printing advantages to manufacture pills and tablets. Also, Aprecia pharmaceutical company launched ‘ZipDose’ technology which manufactures 3D printed drugs.
Global Generic Pharmaceuticals Market Segments:
The global generic pharmaceuticals market is further segmented based on therapy, distribution channel, type, drug delivery and geography.
By Therapy: CNS, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
By Type: Biosimilar, Simple Generic, Super Generic
By Drug Delivery: Oral, Injectables, Dermal/Topical, Inhaler
By Geography: The global generic pharmaceuticals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Generic Pharmaceuticals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides generic pharmaceuticals global market overviews, analyzes and forecasts market size and growth for the global generic pharmaceuticals market, generic pharmaceuticals global market share, generic pharmaceuticals global market players, generic pharmaceuticals global market segments and geographies, generic pharmaceuticals market’s leading competitors’ revenues, profiles and market shares. The generic pharmaceuticals global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Generic Pharmaceuticals Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Generic Pharmaceuticals Market Organizations Covered: Teva Pharmaceuticals, Mylan NV, Sandoz International GmbH, Hospira (Pfizer Inc.) and Sun Pharmaceutical.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Generic Pharmaceuticals Global Market Report 2021:
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