Global Generic Drugs Market: Snapshot
Generic drugs are refereed to medications with same chemical makeup to that of existing branded drugs. These drugs are as good as branded drugs in quality, strength, dosage, route of administration, application, and performance. One of the key reasons of the popularity of these drugs is their cost-effectiveness.
TMR’s upcoming research report on the generic drugs market gives complete analysis of vital elements shaping the future of this market. It offers study of drivers, restraints, challenges, and opportunities in the market for generic drugs during the 2024–2030.
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Global Generic Drugs Market: Growth Dynamics
The global generic drugs market is growing on the back of increasing cases of critical diseases all across the world. This aside, growing number of people living with cardiovascular diseases and diabetes will fuel market growth in the years ahead. In addition to this, growth in geriatric population is providing fertile ground for the development of the generic drugs market.
Increased demand for generic medicines, expired patent of huge number of branded medications, and improvement in healthcare expenditure are some of the important factors pushing generic drugs market growth.
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Global Generic Drugs Market: Notable Development and Competitive Analysis
The global generic drugs market experiences presence of many international-level players. As a result, the competitive landscape of this market very much intense.
The list of key players in the global generic drugs market includes:
- Teva Pharmaceutical Industries Ltd.
- Abbott Laboratories
- Sandoz International GmbH
- ALLERGAN
- STADA Arzneimittel AG
- Mylan N.V.
- Baxter International Inc.
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Global Generic Drugs Market: Regional Assessment
The global generic drugs market shows presence in many regions, namely, Europe, North America, LAMEA, and Asia Pacific. Of them, the market for generic drugs is projected to gain prominent growth opportunities in North America.
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