BigNews.Biz - Feb 17,2017 - The global market for generic drugs should reach $533 billion by 2021 from $352 billion in 2016 at a compound annual growth rate (CAGR) of 8.7%, from 2016 to 2021.
STUDY GOALS AND OBJECTIVES
The aim of this report is to provide detailed market, technology and industry analyses to help readers quantify and qualify the market for prescription generic drugs. Important trends are identified and sales forecasts by product categories and major country markets are provided through 2018; these are based on industry sources and considered assessment of the regulatory environment, healthcare policies, demographics and other factors that directly affect the generic drug market. The wider economic environment is also taken into account.
The report examines strategies employed by companies specializing in generics to meet the challenges of this highly competitive market, while also summarizing strategies employed by “originator” companies to respond to generic competition.
REASONS FOR DOING THE STUDY
This is a time of growth and change for the generic pharmaceutical sector. Major aspects that have combined to create an opportunity for an up-to date market analysis include the following:
-The demand for generics is increasing steadily because of pressure to control healthcare costs. At the same time, fierce price competition in this area has put some companies in difficulties because of slashed profit margins. The main result has been a wave of M&A activity, and the rise of “supergenerics” offering added value as well as low prices. Not all traditional companies are positioned to exploit this trend.
-A major growth driver for the generics sector is the fact that several blockbuster pharmaceutical brands are coming off-patent and are therefore open to generic competition – the phenomenon widely known as the “patent cliff.” But the originator companies are deploying formidable strategies to protect their franchise, including marketing their own branded generics.
-With first-generation biopharmaceutical products reaching the end of their patent lives, a whole new market field — biogenerics, or biosimilars — is opening up, for those generics companies capable of (or prepared to buy in) the technological expertise required.
-The international landscape is changing for generics as for all pharmaceuticals. The BRIC nations (Brazil, Russia, India and China) are among rising centers of generic activity.
SCOPE OF REPORT
This report discusses the implications of all the above-mentioned trends, in the context of the current size and growth of the generics market, both in global terms and analyzed by the most important national markets. The nature and structure of the generics industry is discussed, with profiles of the leading 20+ generics companies and an update on M&A activity. Five-year sales forecasts are provided for the national markets and the major therapeutic categories of products involved.
MARKET ANALYSES AND FORECASTS
Market figures are based on revenues at the manufacturer level and are projected on the basis of 2016 dollar value without attempting to predict the effect of inflation/deflation.
Therapeutic categories quantified and forecast include antibacterials, antidepressants, anticancer agents, anti-arthritics, cardiovascular drugs (e.g. hypolipidemics and antihypertensive) and drugs for respiratory