Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Generic Drugs Market: By Therapeutic Area, By Distribution Channel and Geography
Generic Drugs Market size was valued at US$ 418.1 billion in 2023 and is poised to grow at a CAGR of 5.6% from 2024-2030. A generic drug is pharmaceutical drug, which is bio equivalent to branded drug. Generic drugs are usually approved after patent expiration of patent drugs. global Market is driven by the prevalence of various diseases, need for cost effective drugs for treatment, and government initiatives to increase the use of generic drugs. In addition, favourable regulatory policies, expiry of the branded drugs, and growth in biosimilars segment are expected to boost the generics drugs market. Furthermore, participants in the supply chain such as wholesalers, retailers and pharmacies also benefit from the sale of the generic drugs with high margins compared to branded generics.This emerged as key driver for the growth of the market.
However, lack of awareness about the availability of generic drugs, competition from branded generics and lack of price control are hampering the market. Because researchers were not allowed to attend laboratories and conduct ongoing experiments owing to the pandemic, several clinical trials were postponed. Those molecules would enter the market as a patented molecule if there were no interruptions, resulting in an increase in the market during the predicted period. Because the global market is so large, it is expected to keep rising over the projection period. The rising prevalence of chronic diseases, the growing senior population, and rising healthcare costs are all factors contributing to this trend.
Study Period
2024-2030Base Year
2023CAGR
5.6%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Generic drugs market is highly fragmented market, presence of large players and small players. To improve their market position in companies are adopting strategies like expanding their market presence through collaboration and entering into new markets. Robotic Process Automation (RPA) is the utilization of artificial intelligence (AI) technology to automate repetitive, rule-based tasks. This automation enables key players within a target market to allocate more time, resources, and capital to more advanced value-added tasks. One significant emerging trend in the market for generic brands is the adoption of RPA to ensure compliance with regulations and standards, which is expected to gain momentum in the coming years is one of the key factor for the growth of the market.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 418.1 billion |
Market CAGR |
5.6% |
By Therapeutic Area |
|
By Distribution Channel |
|
By Region |
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The global generic drugs market size was valued at US$ 418.1 billion in 2023 and is projected to grow at a CAGR of 5.6% from 2024 to 2030.
Europe is the fastest-growing for generic drugs market
The generic drugs market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
1.Executive Summary |
2.Global Generic Drugs Market Introduction |
2.1.Global Generic Drugs Market - Taxonomy |
2.2.Global Generic Drugs Market - Definitions |
2.2.1.Therapeutic Area |
2.2.2.Distribution Channel |
2.2.3.Region |
3.Global Generic Drugs Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4.Global Generic Drugs Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Generic Drugs Market By Therapeutic Area, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
5.1. Heptane |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Hexane |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Mineral Spirits |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Varnish Makers & Painters Naphtha |
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Others (Paraffinic Solvent, Pentane, and Solvent 140) |
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
6.Global Generic Drugs Market By Distribution Channel, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
6.1. Adhesives |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Aerosols |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Cleaning & Degreasing |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
6.4. Paints & Coatings |
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.4.3. Market Opportunity Analysis |
6.5. Printing inks |
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.5.3. Market Opportunity Analysis |
6.6. Rubbers & polymers |
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.6.3. Market Opportunity Analysis |
6.7. Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.7.3. Market Opportunity Analysis |
7.Global Generic Drugs Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
7.1. North America |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia Pacific (APAC) |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Middle East and Africa (MEA) |
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Latin America |
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
8.North America Generic Drugs Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
8.1. Therapeutic Area Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.1.1.Heptane |
8.1.2.Hexane |
8.1.3.Mineral Spirits |
8.1.4.Varnish Makers & Painters Naphtha |
8.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
8.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.2.1.Adhesives |
8.2.2.Aerosols |
8.2.3.Cleaning & Degreasing |
8.2.4.Paints & Coatings |
8.2.5.Printing inks |
8.2.6.Rubbers & polymers |
8.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
8.3.1.United States of America (USA) |
8.3.2.Canada |
9.Europe Generic Drugs Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
9.1. Therapeutic Area Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Heptane |
9.1.2.Hexane |
9.1.3.Mineral Spirits |
9.1.4.Varnish Makers & Painters Naphtha |
9.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
9.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Adhesives |
9.2.2.Aerosols |
9.2.3.Cleaning & Degreasing |
9.2.4.Paints & Coatings |
9.2.5.Printing inks |
9.2.6.Rubbers & polymers |
9.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Germany |
9.3.2.France |
9.3.3.Italy |
9.3.4.United Kingdom (UK) |
9.3.5.Spain |
10.Asia Pacific (APAC) Generic Drugs Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
10.1. Therapeutic Area Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Heptane |
10.1.2.Hexane |
10.1.3.Mineral Spirits |
10.1.4.Varnish Makers & Painters Naphtha |
10.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
10.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Adhesives |
10.2.2.Aerosols |
10.2.3.Cleaning & Degreasing |
10.2.4.Paints & Coatings |
10.2.5.Printing inks |
10.2.6.Rubbers & polymers |
10.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.China |
10.3.2.India |
10.3.3.Australia and New Zealand (ANZ) |
10.3.4.Japan |
10.3.5.Rest of APAC |
11.Middle East and Africa (MEA) Generic Drugs Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
11.1. Therapeutic Area Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Heptane |
11.1.2.Hexane |
11.1.3.Mineral Spirits |
11.1.4.Varnish Makers & Painters Naphtha |
11.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
11.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Adhesives |
11.2.2.Aerosols |
11.2.3.Cleaning & Degreasing |
11.2.4.Paints & Coatings |
11.2.5.Printing inks |
11.2.6.Rubbers & polymers |
11.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.GCC Countries |
11.3.2.South Africa |
11.3.3.Rest of MEA |
12.Latin America Generic Drugs Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
12.1. Therapeutic Area Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Heptane |
12.1.2.Hexane |
12.1.3.Mineral Spirits |
12.1.4.Varnish Makers & Painters Naphtha |
12.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
12.2. Distribution Channel Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Adhesives |
12.2.2.Aerosols |
12.2.3.Cleaning & Degreasing |
12.2.4.Paints & Coatings |
12.2.5.Printing inks |
12.2.6.Rubbers & polymers |
12.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Brazil |
12.3.2.Mexico |
12.3.3.Rest of LA |
13. Competition Landscape |
13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
13.2.1.Mylan N.V. (U.S.) |
13.2.2.Sun Pharmaceutical Industries Limited (India) |
13.2.3.Teva Pharmaceutical Industries, Ltd. (Israel) |
13.2.4.Dr Reddy’s Laboratories (India) |
13.2.5.Novartis AG (Sandoz International GmbH) (Switzerland) |
13.2.6.Apotex Holdings Inc. (Canada) |
13.2.7.Apotex Holdings Inc. (Canada) |
13.2.8.Endo International plc (U.S.) |
13.2.9.Pfizer Inc. (U.S.) |
13.2.10.Johnson & Johnson Services Inc., (Janssen Pharmaceutica) (U.S.) |
13.2.11.Lupin Limited (India) |
13.2.12.Merck & Co, Inc. (U.S.) |
13.2.13.Mitsubishi Tanabe Pharma (Japan) |
13.2.14.Momenta Pharmaceuticals (U.S.) |
13.2.15.Nexus Pharmaceuticals (U.S.) |
13.2.16.Novo Nordisk (Denmark) |
14. Research Methodology |
15. Appendix and Abbreviations |
Key Market Players