Precision Business Insights has published a report on the global generic drugs market, estimating its value at USD 441.5 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/global-generic-drugs-market

Market Definition:

Medications known as generics have the same active components and therapeutic effects as their name-brand equivalents. Usually, they are released onto the market once the brand-name drug's patent has expired, enabling other producers to make and market them. Because they don't need to undergo as many clinical trials as name-brand medications, generic medications are frequently less expensive, even if they still need to adhere to stringent safety, efficacy, and quality regulations.

Drivers:

1)      Rising prevalence of generic diseases.

2)      Rising healthcare infrastructure in developed regions.

The global generic drugs market segmentation:
1) By Therapeutic Area: Cardiovascular, CNS, Antibiotics, Oncology, Gastrointestinal, Hormones, Pain Management, Others.
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others.

Regional Overview:
The report also examines the current concerns and their Future Effects on the generic drugs market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the generic drugs market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like 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)

About Precision Business Insights:
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