Generic Drugs Market Size, Share & Growth Report, 2032

The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed. Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare. In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers.

Strategies for Expanding Access

With over 20 years of experience, GALPHARMA is dedicated to providing high-quality medications across various therapeutic classes to meet the daily needs of patients with acute and chronic illnesses. The landscape of the generic drugs industry is constantly evolving, driven by factors such as changing patent expirations, market demand, and advancements in technology. As a result, the industry is highly competitive, with numerous companies vying for market share and striving to deliver cost-effective medications to consumers.

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Broadly, all companies implement at least some strategies to promote a continuous supply of their products and mitigate the risk of shortages and stockouts, and to ensure the quality and safety of their marketed products. If you want to find more companies that develop, manufacture, and distribute cost-effective medications you can do so with Inven. Throughclose collaboration with a network of trusted partners in development,manufacturing, and distribution, STADA consistently enriches its Genericsportfolio.

Cost-Effective Solutions

Global Pharma is a leading generics partner in the region, specializing in the production of medicines and herbal remedies. With a manufacturing facility in Dubai Investment Park, the company has an extensive product range that covers various therapeutic areas. They work closely with healthcare professionals to understand their needs and offer support programs for better patient management. Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024.

[Ranking] TOP 25 Generic Drugs / Pharmaceuticals Companies Q3/2023

Our Generic Formulations business addresses this urgent need by offering more than 200 high-quality generic versions of expensive innovator medicines—at a fraction of the cost—in over 20  countries around the world. Despite this, an analysis of ten essential medicines per company reveals that companies have registered these products – identified as priorities for access – in 77 countries in scope, out of the 90 in which they have existing regulatory reach. Some of these products have been registered in very few LMICs, and analysis of the companies’ product registration practices in LMICs shows significant variation between companies. Through generics and biosimilars, people around the world gain access to the medicines they require – including lifesaving treatments. Of the medicines classed as “essential” by the World Health Organization (WHO), 90% are off patent, including treatments for cancers, heart disease, epilepsy, diabetes, maternal haemorrhage, bacterial infection, tuberculosis, malaria and HIV. When patents expire, generic and biosimilar manufacturers can enter the market and develop these medicines at a lower cost, potentially introducing competition and increasing supply.

Study says generic drugs are as effective as branded ones

Known for pioneering breakthrough medications like Viagra and Lipitor, Pfizer also offers a diverse portfolio of high-quality generic drugs across therapeutic areas such as cardiovascular, central nervous system, and respiratory diseases. With a strong commitment to research, quality, and affordability, Pfizer continues to innovate and expand its generic drug offerings, ensuring patients worldwide have access to essential medications at competitive prices. They offer a wide range of medications, including generic and branded drugs, as well as contract manufacturing services for other pharmaceutical companies. With a strong focus on quality and innovation, Hikma.com aims to improve global healthcare through their reliable and affordable solutions. The expiration of patents on many brand-name drugs has led to a surge in demand for generic alternatives due to their lower cost, particularly in addressing chronic diseases that account for a significant portion of global mortality.

Novartis AG [Annual Revenue: USD 46.66 Billion]

Drawingfrom over 50 years of experience in manufacturing active pharmaceuticalingredients (APIs), Cipla has developed over 200 generics and complex APIs. Thecompany is eager to collaborate with leading generic firms to introduce newproducts, thus expanding its presence in markets such as Japan, Korea, andBrazil. Moreover, Cipla is actively pursuing strategies to deepen itspenetration in the generic distribution channel through digital platforms,engaging directly with retailers. By March 2023, it had onboarded over 135,000retailers, facilitating enhanced market outreach and accessibility. Asthe 10th largest generics company in the United States, Sun Pharma possesses aformidable research and development infrastructure, equipped to developtechnologically advanced products in both generics and specialty segments.

• Some amendments, such as the US Generic Drug User Fee Act, are expected to result in a much stronger focus on quality with a much shorter approval process for these generic medicines.
• This diverse portfolio includes significant generics alongside a widearray of consumer healthcare products and specialty pharmaceuticals.
• This indicates a dynamic and evolving landscape, with room for new entrants and innovative approaches.
• Notable drugs that are open to generic competition in 2024 include Novo Nordisk’s Victoza (liraglutide), an anti-diabetic medication used to treat type 2 diabetes (T2D) and chronic obesity.
• Avet Pharma aims to provide high-quality medications to patients, ensuring their safety and well-being.
• The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans.
• The generic drug production industry encompasses companies that focus on the manufacturing and distribution of generic medications.

Companies have potential to register more of their essential products in LMICs

The generics industry plays a vital role in expanding access to medicines in emerging markets. By addressing the challenges and seizing the opportunities, generic medicine manufacturers can ensure that high-quality, safe, and effective medications are available to those who need them most. As Jayasree K. Iyer, CEO of the Access to Medicine Foundation, emphasized, “It is vitally important that all healthcare sectors address inequality and improve access, which we have articulated in our new Strategic Direction”.

Joint event with World Economic Forum on the evolving role of generics – Meeting Report

While generics share the same active pharmaceutical ingredient (API) as brand-name drugs, variations in characteristics such as formulation and packaging exist. Government regulations, including FDA evaluations, ensure their safety and efficacy, marking them as reliable alternatives to brand-name counterparts. The widespread availability of generic medicines plays a pivotal role in controlling and eradicating infectious diseases, notably demonstrated in the cases of HIV/AIDS, malaria, and tuberculosis. Generic antiretrovirals and antimalarials have been instrumental in globally expanding treatment options for these conditions. He excels at analysing complex market trends and producing comprehensive, actionable reports that help companies foster innovation and enhance end user experience. Also, his ability to tailor research solutions to the specific needs of healthcare clients, combined with his collaborative approach with industry stakeholders, has made him an invaluable resource in navigating the intricate healthcare market.

New Markets New Geographies Competition

• Our in-depth knowledge of regulation and intellectual property also helps us to bring high-quality, regulatory-compliant medicines within reach of millions throughout the world.
• The issue of cheaper generics is grounded on measurable and enforceable assurance about quality through tests and other internationally mandated parameters.
• Non-communicable diseases (NCDs) such as cardiovascular disorders, chronic respiratory diseases such as COPD and asthma, malignancies, and diabetes are the most common.
• Access to high-quality generic medications continues to be a pivotal issue across the globe in 2024, with various regions deploying targeted strategies to overcome barriers to affordability and quality.
• These corporations are an integral part of global healthcare systems, catering to different therapeutic areas to help patients overcome various health conditions.
• Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines.
• Anushka Bhattacharya is an editor and content writer for a market research and business consultancy company, IMARC Services Pvt.
• Sandoz (Novartis) Sandoz, a division of Novartis, stands as a leading global player in generic pharmaceuticals and biosimilars.

They focus on providing high-quality, cost-effective solutions in various therapeutic areas, including antibiotics, antidepressants, anti-inflammatories, epilepsy, and angina. With a commitment to research and development, Rivopharm continuously reinvests its financial performance to expand laboratory and production facilities. The company is firmly committed to adhering to regulatory compliance requirements in different markets, which has facilitated its expansion into new markets and bolstered its business growth. Latin America is anticipated to hold a considerable share of the worldwide market during the forecast period. Healthcare costs are growing significantly, making it difficult for people to afford quality healthcare. Due to this, the demand for affordable healthcare is growing in the Latin American region, driving the generic drugs market in Latin America as these drugs are an effective alternative to branded drugs.

Torrent.com.br is a pharmaceutical company that specializes in the production and distribution of high-quality medications in areas such as cardiovascular and diabetes, central nervous system, and generics. SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976. They offer custom manufacturing of pharmaceutical forms for several national and international pharmaceutical companies. With a production base that allows the manufacture of 13 different pharmaceutical forms, SOTHEMA represents 35 client laboratories ranking among the global R&D leaders.

• Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices are the four reportable segments for Abbott.
• Currently ranked 3rd globally in pharmaceutical production by volume and 14th by value, India commands a 20% share in global generic medicine supply and dominates vaccine manufacturing with a 60% market share.
• On the other hand, the branded generic drugs market had decent occupancy in the global market in 2023 and is predicted to showcase a CAGR of 8.8% during the forecast period.
• When not writing or editing files, you will find her sketching, exploring heritage and historic places, or cooking.
• The United States had the largest market share of 92% for generic drugs in North America in 2022, followed by Canada, which had a market share of 8%.
• Generic drugs are medications that have the same active ingredients as brand-name drugs, but are typically sold at a lower price.
• In 2020, the company operated commercial activities with a global organization that included two businesses—Biopharma and Upjohn, which were each directed by a single manager until November 16, 2020.

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Viatris seeks to provide improved access to inexpensive, high-quality medications for patients worldwide, regardless of region or circumstance, by combining the assets of these two businesses. Laurus Labs is an innovative company with world-class research capabilities, specializing in the manufacturing and marketing of pharmaceutical products. Laurus Labs is committed to developing new cures, building a profitable business, and improving the quality of life through affordable medicines. The success of these top companies can be attributed to several shared elements and approaches. Firstly, they have invested heavily in research and development, constantly striving to bring new and improved generic drugs to the market. Secondly, they have built robust manufacturing capabilities, ensuring high-quality and cost-effective production.

Top 10 Generic Drugs Companies in the World:

• India asserts its dominance by claiming a substantial 20% share in the global generic drug market, securing its position as the largest international provider.
• Compulsory licensing is a significant measure allowing the production and export of low-cost generic drugs by bypassing patent monopolies, especially crucial during public health crises like pandemics.
• Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals.
• Pfizer’s generic drug portfolio includes a diverse range of products across various therapeutic areas, including cardiovascular disease, pain management, and central nervous system disorders.
• The industry is also witnessing advancements in manufacturing techniques and the introduction of biosimilar products, further contributing to its growth.
• A global leader in the generics space, Teva boasts a massive portfolio of over 1,600 molecules across various therapeutic areas.
• This is particularly important in emerging markets, where access to affordable and effective medicines is limited, and communicable diseases remain significant public health concerns.

Generic drugs sales are facing increasing challenges in the US, mainly due to pricing pressures. Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls. This has led many US and foreign generic drug companies to lower their expectations for growth in the US. Consequently, low-cost generics from India and China will remain in high demand from the US until sufficient subsidies or alternative support for domestic generic drugs production expansion are offered. Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US. According to the FDA, India is the second-largest provider of finished dose pharmaceuticals to the US, and accounts for nearly 20% of the global exports of generics.

Normon is a pharmaceutical company that has been manufacturing high-quality prescription and non-prescription drugs for 80 years. The Indian pharmaceutical industry is a global leader, with the domestic market poised to reach US$ 65 billion by 2024 and an expected surge to US$ 130 billion by 2030. Currently ranked 3rd globally in pharmaceutical production by volume and 14th by value, India commands a 20% share in global generic medicine supply and dominates vaccine manufacturing with a 60% market share. The generics industry is positioned to enhance access to essential health products in low- and middle-income countries. Initiatives, such as the Access to Medicine Foundation’s work, aim to mobilize generic medicine manufacturers, ensuring greater access to generic medicines. Formed through the merger of Mylan and Pfizer’s Upjohn business, Viatris is a relatively new player that has quickly risen through the ranks.

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The high cost of branded medicines has been a significant barrier to healthcare access, especially in developing nations. Indian pharmaceutical companies have been instrumental in breaking down this barrier by producing generic drugs at a fraction of the cost of their branded equivalents. This cost-effectiveness is a boon for developing countries and healthcare systems in developed nations striving to contain rising healthcare expenditures. Anticipating significant growth by 2030, the Indian generic medicine industry is driven by factors such as increased demand for affordable medicines, a growing geriatric population, and a skilled workforce.

#13 Eli Lilly And Company

With a focus on affordability and accessibility, Mylan expanded its reach worldwide, particularly in emerging markets. In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence. Aspen Pharmacare Holdings Ltd (Aspen) is a prominent supplier of specialty and generic pharmaceuticals for the treatment of various acute and chronic ailments. Aspen Pharmacare has a robust quality management system and adheres to strict regulatory compliance standards and is approved by multiple regulatory agencies on a global level. Aspen’s generic drugs provide a cost-effective option for patients, thereby enhancing accessibility to its products for a broader population, particularly in emerging markets.

Gabapentin is already available in other generic forms, but the specific release characteristics and dosing regimen of Gralise are protected by patents. Once these patents expire and if any market exclusivity periods have lapsed, other companies can produce generic versions of this particular formulation, potentially leading to price reductions and increased accessibility for patients. The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans. We expect a positive impact for both patients and healthcare providers, as the lower cost could facilitate treatment adherence and reduce the financial burden on individuals and insurance systems. China will retain the largest proportion of generic drug sales through to 2030, at around 70% of the APAC region. Growth within the generic drug sub-sector will be mainly supported by increased volume consumption, driven by rising medicine demand and cost-containment measures, such as centralised drug procurement programmes encouraged by regulatory authorities.

Ritedose is a leader in aseptic production of sterile, single-dose medication for the contract development manufacturing, generics, and 503B outsourcing markets. With over 27 years of experience, Ritedose has delivered more than 10 billion doses since 2012 without any interruptions, demonstrating a commitment to precision and reliability. Generic medicine manufacturers can develop business models prioritizing long-term sustainability, and balancing commercial viability with approaches that increase access to medicines. Discover the top 20 fine chemicals companies offering tailored solutions for pharmaceuticals, crop protection, and specialty polymers.

Cardiology, psychiatry, neurology, gastroenterology, ophthalmology, and psychiatry are some of the therapeutic areas where the company is a significant player. With operations in over 100 countries, Sun Pharma is a global company, with a well-positioned presence in markets, such as the United States, Europe, Japan, and India. Apotex is a global pharmaceutical company that offers a wide range of generic and over-the-counter medications.

For instance, in May 2022, Sandoz will expand its respiratory portfolio by launching the first generic pirfenidone in the United States for patients with idiopathic pulmonary fibrosis. Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue. Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option. They’re considered the most effective because the drug’s bioavailability is higher through this route than the others. The market in the Middle East and Africa is expected to hold a moderate share of the worldwide market during the forecast period. The rising number of improvements in the healthcare infrastructure and healthcare system of MEA countries is favoring the generic drugs market in MEA.

Baxter International Inc. is a leading healthcare company renowned for its diverse portfolio of generic drugs, encompassing injectables, oral solid formulations, and essential pharmaceuticals across various therapeutic areas. With a history dating back to 1931, Baxter has earned recognition for its commitment to quality, innovation, and affordability. Leveraging strategic partnerships and investments in R&D, the company continues to expand its offerings and enhance its manufacturing capabilities to meet the evolving needs of healthcare providers and patients worldwide. Beximco Pharmaceuticals Ltd. is a company that specializes in the manufacturing and marketing of generic pharmaceutical products. They offer a wide range of high-quality and affordable medicines for various therapeutic areas.

• With 40 manufacturing facilities, Mylan produces complex dosage forms, injectables, solid dosages, and active pharmaceutical ingredients, along with an industry-leading pipeline that includes several complex generics and global key brands.
• Producing 60,000 generic brands across 60 categories, India meets substantial global demand and provides affordable HIV treatment.
• They offer a wide range of products such as Mycophenolate Mofetil, Propofol Injectable Emulsion, and Octreotide Acetate.
• Cardiology, psychiatry, neurology, gastroenterology, ophthalmology, and psychiatry are some of the therapeutic areas where the company is a significant player.
• Beyond his professional achievements, Anil is deeply passionate about the intersection of technology and healthcare.
• With their commitment to quality and the use of modern knowledge, Alborz Bulk aims to become a leading player in the pharmaceutical industry and achieve self-sufficiency in the national economy.
• With a strong commitment to quality, accessibility, and affordability, Sandoz continues to drive innovation and improve healthcare outcomes worldwide.

Operating across 47 manufacturingfacilities worldwide, Cipla produces over 50 dosage forms and more than 1,500generic products, catering to a broad spectrum of 85 markets. Furthermore, itholds a prominent position among the top ten generic players in the UnitedStates. While cost-effectiveness is critical, Indian pharmaceutical companies have not compromised quality. Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs.

As these populations age, there is a corresponding increase in the prevalence of chronic diseases, which in turn raises the demand for affordable long-term medication. Generic drugs, being less expensive than their branded counterparts, are thus in higher demand to manage healthcare costs for this growing segment of the population. Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry. For instance, Sun Pharma recalled 747 bottles of generic diabetes medication in October 2020 because they could contain cancer-causing nitroso dimethylamine above the limit. Emerging markets like India and China are supposed to generate more opportunities for the generic drugs market. Viatris Inc. is a global healthcare firm founded in November 2020 by the merger of Mylan and Upjohn.

Interviews with them, along with a retrospective study at Ruijin Hospital, showed no significant dosage changes before and after the bulk procurement program. This commentary is published lapatinib price in singapore by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources.

This commitment to quality ensures that patients worldwide can access affordable medicines without compromising safety or efficacy. The government must take appropriate steps to encourage global pharmaceutical firms to set up new generic facilities through joint ventures by offering tax breaks. Some amendments, such as the US Generic Drug User Fee Act, are expected to result in a much stronger focus on quality with a much shorter approval process for these generic medicines.