Market Overview:

Generic drugs market was worth USD 290.83 billion in 2018 and is expected to reach USD 412.50 billion by 2023 with a CAGR of 7.24%. A Generic drug is a pharmaceutical drug, which has the equal chemical substance as the first developed drug. Generic drugs are allowed for profits after patent(s) on unique drug expired. Because the active chemical substance is the same, the medical profile of generics is thought about as being identical in overall performance.

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Increasing number of patent expiration of branded capsules is propelling the growth of the market

Factors affecting market growth:

•  Increasing the prevalence of persistent sicknesses (+)
•  Low cost of the drugs (+)
•  Outsourcing of the manufacturing process (+)
•  Increasing number of patent expiration of branded capsules (+)
•  Increasing geriatric population (+)
•  High competition and the shortage of drugs (-)
•  Threat of using counterfeit capsules (-)

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Super Generics segment holds the largest share of the market

Market Segmentation

The Global Generic drugs market is segmented on the basis of

Type                              

• Introduction           
• Biosimilars               
• Simple generics     
• Super generics     

Therapeutic drugs                   

• Introduction           
• Cardiovascular Products    
• Anti-infective Drugs            
• Anti Arthritis Drugs              
• Central Nervous System Drugs       
• Anti Cancer Drugs
• Respiratory System Drugs
• Others      

Super generics are bought at a better rate than their pure usual counterpart. Super generics account for 18% of overall spending on generic drugs.

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Key players:

The main industries of the market include Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., and Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.