The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s generic pharmaceuticals market report forecasts the generic pharmaceuticals market size to grow to $453.19 Billion by 2027, with a CAGR (compound annual growth rate) of 6%.

Learn More On The Generic Pharmaceuticals Market Report 2023 – https://www.thebusinessresearchcompany.com/report/generic-pharmaceuticals-global-market-report

Generic Pharmaceuticals Market Size Forecast
The global generic pharmaceuticals market is expected to grow from $332.43 billion in 2022 to $358.5 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The generic pharmaceuticals market is expected to grow from $453.19 billion in 2027 at a CAGR of 6.0%.

North America held the largest generic pharmaceuticals market share, and Middle East was the fastest-growing region in 2022.

Key Generic Pharmaceuticals Market Driver ­– Rise In The Incidence Of Chronic Diseases
According to the WHO (World Health Organisation), the number of fatalities from chronic disease is expected to rise by 17% over the next ten years. Furthermore, chronic diseases will account for nearly three-quarters of all fatalities worldwide in 2020.

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Key Generic Pharmaceuticals Market Trend – Adopting 3D Printing Technology
3D printed drugs help to increase R&D productivity while also providing new benefits to patients. 3D printing enables the maker to create pharmaceuticals with customizable size, shape, and texture, which is not achievable in standard generic drug manufacturing. 3D printing can assist manufacturers in producing generic pharmaceuticals with varying release dates, looks, and tastes. GlaxoSmithKline (GSK), for example, completed a trial in which ultraviolet (UV) and 3D printing were utilised to make pills to treat Parkinson’s disease. GSK Technology Director Martin Wallace stated that the company is investing in 3D printing to create pills and tablets. In addition, Aprecia Pharmaceuticals introduced ‘ZipDose’ technology, which produces 3D printed medications.

Generic Pharmaceuticals Market Segment
1) By Therapy: CNS, Cardiovascular, Dermatology, Genitourinary/Harmonal, Respiratory, Rheumatology, Diabetes, Oncology
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By Type: Biosimilar, Simple Generic, Super Generic
4) By Drug Delivery: Oral, Inectables, Dermal/Topical, Inhaler

Generic Pharmaceuticals Market Major Players and Strategies
Major players in the generic pharmaceuticals market are Teva Pharmaceuticals, Mylan NV, Sandoz International GmbH, Hospira (Pfizer Inc.), Sun Pharmaceutical, Lupin Limited, Endo International PLC., Dr Reddy’s Laboratories, Apotex Holdings, Fresenius Kabi Ag, Aurbindo Pharma, Aspen Pharmacare, Sanofi, Cipla, Hikma Pharmaceuticals, Stada Arzneimittel, Krka Group, Nichi-Iko Pharmaceutical, Valeant, Zydus Cadila, Merck & Co., Mitsubishi Tanabe Pharma, Momenta Pharmaceuticals, Nexus Pharmaceuticals, Novo Nordisk, Ranbaxy Laboratories Ltd., Sawai Pharmaceuticals, Novartis AG, Pfizer and Johnson & Johnson Services.

In January 2020, ANI Pharmaceuticals, Inc., a USA-based integrated specialty pharmaceutical company focused on developing, manufacturing, and marketing high-quality branded and generic prescription pharmaceuticals, paid $52.5 million in cash to American Pharmaceuticals, Ltd. for Commercial and Pipeline Generic Products. This acquisition expands ANI Pharmaceuticals, Inc.’s commercial portfolio and late-stage generic pipeline significantly. Amerigen Pharmaceuticals is a firm established in the United States that specialises in the research, manufacture, and distribution of high-quality generic pharmaceutical products.

The Generic Pharmaceuticals Global Market Report 2023 covers regional data on generic pharmaceuticals market size, generic pharmaceuticals market trends and drivers, opportunities, strategies, and generic pharmaceuticals market competitor analysis. The countries covered in the generic pharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Generic pharmaceuticals are drugs that have the same dosage form, safety, strength, route of administration, quality, performance attributes, and intended application as a brand-name medicine that is currently on the market. A generic medicine’s action and clinical advantages are identical to those of a brand-name drug.

View More Reports Related To The Generic Pharmaceuticals Market –
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Branded Generics Global Market Report 2023

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