Global Generic Drugs Market Growing at 10.53% CAGR to 2020
Pune: The global generic drugs market 2016 report forecasts patent expiry of drugs worth $150 billion by 2020, which a key growth driver for top-selling drugs as well as new, inexpensive generic drugs. With many pharmaceutical drugs set to lose their patents during the forecast period, the competition in the generic market is expected to increase. Patent expiry of a branded drug results in the introduction of inexpensive generic drugs in the market. Branded drugs with sales of up to $135 billion expired by the end of 2015, offering pharmaceutical companies opportunities to capitalize on this market.
Complete report on generic drugs market spread across 111 pages, analyzing 6 major companies.
The analysts forecast global generic drugs market to grow at a CAGR of 10.53% during the period 2016-2020. One trend which is influencing generic drugs market growth is the outsourcing of drug development. Vendors are increasingly using outsourcing as a business strategy as they have been experiencing a decline in venture capital investment. Some vendors outsource parts of their R&D process, such as product characterization testing, and toxicology testing, to contract research organizations. Similarly, some of them outsource parts or even the entirety of their manufacturing processes to other organizations. In this way, outsourcing is becoming a trend in the global generic drugs market.
The global generic drugs market is fragmented with the top vendors accounting for about 26% of the global generic sales. These vendors continually compete for the top position, with occasional spurts of competition coming from local manufacturers. The market is characterized by the presence of a large number of local, large pharmaceutical companies, and is densely distributed with suppliers. The top international pharmaceutical companies are facing challenges in the form of price pressure, regulatory constraints, and competition from local and international pharmaceutical companies.
The following companies are the key players in the global generic drugs market: Teva Pharmaceuticals, Sandoz, Allergan, Mylan, Sun Pharmaceuticals, and STADA Arzneimittel. Other prominent vendors in the market are: Abbott, Amgen, Apotex, Aspen, AstraZeneca, Aurobindo Pharma, Baxter, Berlin-Chemie, Biocon, Biogen, Boehringer Ingelheim, Celltrion, Cipla, Coherus Biosciences, Dr. Reddy's Laboratory, Daiichi Sankyo, Eli Lilly, Emcure Pharmaceuticals, Eurofarma Laboratories, Gedeon Richter, Gilead Sciences, GlaxoSmithKline, Hospira, Impax, InnoPharma, Intas Pharmaceuticals, Jannsen, Lupin, Merck, Mitsubishi Tanabe Pharma, Momenta Pharmaceuticals, Natco Pharma, Nexus Pharmaceuticals, Novo Nordisk, Orchid Chemicals & Pharmaceuticals, Parenteral Drugs India, Par Pharmaceutical, Pfizer, Piramal (Abbott Laboratories), Roche Holdings, Sanofi, Synthon, Towa, Valeant Pharmaceuticals, Zentiva, Zhejiang Chiral, Medicine Chemicals, Zhejiang Hisun Pharmaceutical, and Zydus Cadila Healthcare.
Global Generic Drugs Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global generic drugs market for 2016-2020. To calculate the market size, it considers revenue generated from the sales of simple generics, super generics, and biosimilars. Further, the report states that one challenge that can have restricted market growth is the threat of counterfeit drugs.
Another related report is Global Human Vaccine Market 2016-2020, the analysts forecast global human vaccines market to grow at a CAGR of 11.69% during the period 2016-2020. A major trend being witnessed in the global human vaccines market is the increase in strategic alliances. Increase in threat from regional vendors in developing countries may cause price erosion and may compel major players to operate under low-margin models. M&A are usually intended to increase the market penetration of the acquirer or to enhance the product portfolio of the parent company. The growth of the global human vaccines market is driven by the inclusion of several pediatric vaccines in the national immunization schedule of various countries