Generic Drugs Market: By Therapeutic Area, By Distribution Channel and Region Forecast 2019-2030

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Generic Drugs Market Size, Share, Growth, Trends, and Global Industry Analysis: By Therapeutic Area (Cardiovascular, CNS, Antibiotics, Oncology, Gastrointestinal, Hormones, Pain Management, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others) and Region Forecast 2019-2030

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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.

Key Developments

  • In August 2017, Nexus Pharmaceuticals got U.S. FDA approval for the first generic version of Hospira’s Isuprel, for the treatment of bradycardia, heart block.
  • In January 2015, Ivax Pharmaceuticals, a subsidiary of Teva Pharmaceuticals has got FDA approval for first generic version of AstraZeneca’s Nexium to treat gastroesophageal reflux disease (GERD).

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Global Generic Drugs Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.6%

Largest Market

North America

Fastest Growing Market

Asia Pacific

Generic Drugs Market Dynamics

The 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.

Global Generic Drugs Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 418.1 billion

Market CAGR

5.6%

By Therapeutic Area

  • Cardiovascular
  • CNS
  • Antibiotics
  • Oncology
  • Gastrointestinal
  • Hormones
  • Pain Management
  • Others

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The generic drugs market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis 

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Frequently Asked Questions

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 the market.

The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

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Author

Muni Kumar Meravath

Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....

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

  • Mylan N.V. (U.S.)
  • Sun Pharmaceutical Industries Limited (India)
  • Teva Pharmaceutical Industries, Ltd. (Israel)
  • Dr Reddy’s Laboratories (India)
  • Novartis AG (Sandoz International GmbH) (Switzerland)
  • Apotex Holdings Inc. (Canada)
  • Endo International plc (U.S.)
  • Pfizer Inc. (U.S.)
  • Johnson & Johnson Services Inc., (Janssen Pharmaceutica) (U.S.)
  • Lupin Limited (India)
  • Merck & Co, Inc. (U.S.)
  • Mitsubishi Tanabe Pharma (Japan)
  • Momenta Pharmaceuticals (U.S.)
  • Nexus Pharmaceuticals (U.S.)
  • Novo Nordisk (Denmark)

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