- Cardiovascular
- CNS
- Antibiotics
- Oncology
- Gastrointestinal
- Hormones
- Pain Management
- Others
Generic Drugs Market was valued at USD 418.1 billion in 20223 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 generic drugs 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 generic drugs 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.
Generic Drugs Market 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).
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
Generic drugs market is highly fragmented market, presence of large players and small players. To improve their market position in generic drug market 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 generic drugs market.
North-America Got Significant Share
Generic Drugs Market Regional Analysis
Geographically generic drugs market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America generic drugs market is expected to grow at significant rates owing to availability of more number of generics, increase awareness about the generic drugs and favourable regulatory policies and acts such as Affordable Care Act 2010. In Europe region, Belgium and UK expected to grow at notable rates owing to prevalence of chronic diseases, increase in investment on biosimilars, and increase awareness about generic drugs. Asia Pacific Region expected to be fastest growing due to increased government initiatives in usage of generic drugs and increase in awareness about generic drugs. Especially emerging countries like India government initiating different policies and schemes to boost the usage of generic drugs, For instance, Government of India taken an initiative of opening Jan aushadhi stores to make available quality generic medicines at affordable prices to all citizens.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- 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
Global Generic Drugs Market Segmentation
By Therapeutic Area
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa (MEA)
Frequently Asked Questions
The generic drugs market size was valued at USD 418.1 billion in 2022
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 |
- 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)