North America Generic Drugs Market by type (Biosimilars, simple generic and super generic) by therapeutic drugs (Cardiovascular products, anti-infective products, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others) and by Region.
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According to the report North America Generic drugs market, published by Market Data Forecast, The Market was worth USD 58.06 Billion in 2015 and estimated to reach USD 93.50 Billion by 2021 with a growing potential of 10.0%.
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Generic drugs are pharmaceutical drugs which have exactly same dosage, safety, effects, side effects, intended use, risks, and strength as the genuine drug. An example of a generic drug for diabetes is metformin.
They are cost effective compared to branded drugs.
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To sell a generic drug, manufacturing company must submit an Abbreviated New Drug Application for approval.
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The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs.
Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage.
One more trend which influences market growth is outsourcing. Right now most of the doctors in US are prescribing generic drugs which will improve even further.
Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
North America Generic Drugs Market: Segmentation
- simple generics
- Super generics
- Y-o-Y Growth Analysis, By Product
- Market Attractiveness Analysis, By Product
- Market Share Analysis, By Product
By Therapeutic drugs
- Cardiovascular Products
- Anti-infective Drugs
- Anti Arthritis Drugs
- Central Nervous System Drugs
- Anti Cancer Drugs
- Respiratory System Drugs
- Y-o-Y Growth Analysis, By Therapeutic Drugs
- Market Attractiveness Analysis, By Therapeutic Drugs
- Market Share Analysis, By Therapeutic Drugs
- North America
- o United States
- o Canada
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Reasons to access North America Generic Drugs Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
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