According to Nova one advisor, the U.S. Generic Drug market size was valued at US$ 123.75 billion in 2021 and is expected to hit US$ 155.82 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.59% from 2022 to 2030.
US Generic Drug Market (Drug Type: Simple Generics And Super Generics; By Brand: Pure Generic Drugs And Branded Generic Drugs; By Route Of Drug Administration: Oral, Topical, Parental, And Others; By Therapeutic Application: Central Nervous System (CNS), Cardiovascular, Dermatology, Oncology, Respiratory, And Others; By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, And Others) - Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2022 - 2030
According to Nova one advisor, the U.S. Generic Drug market size was valued at US$ 123.75 billion in 2021 and is expected to hit US$ 155.82 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.59% from 2022 to 2030.
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Generics are off-patented drugs that are bioequivalent to branded medications in terms of dosage, strength, quality, form, effect, intended use, side effects, and route of administration. In the US, generic drugs have witnessed a substantial rise in production as they are less expensive than branded drugs and do not require extensive research and testing. Additionally, the introduction of generic medicines has helped in sustaining the healthcare system of the country with improved patient access and generating savings for taxpayers, employers and insurance providers. Moreover, the market is currently experiencing significant growth due to a rise in the prevalence of chronic diseases across the region, such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease.
Report Scope of the U.S. Generic Drug Market
| Report Coverage | Details |
| Market Size in 2021 | USD 123.75 Billion |
| Revenue Projection By 2030 | USD 155.82 Billion |
| Growth Rate | CAGR of 2.59% from 2022 to 2030 |
| Base Year | 2021 |
| Historical data | 2017 - 2020 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Drug, Brand, Route of Drug Administration, Therapeutic Application, Distribution Channel |
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Market Drivers:
In recent years, there has been a rise in the number of generic drug approvals across the US supported by the implementation of the Drug Competition Action Plan of the FDA that aims towards the elimination of barriers faced by the generic-drug manufacturers. Furthermore, to enhance the generic-drug development and approval process, the US Food and Drug Administration (USFDA) has reauthorized the Generic Drug User Fee Amendments in 2017. The GDUFA II allows the collection of user fees from generic-drug manufacturers to provide the FDA with additional resources for generic-drug reviews. Other than this, the Government has introduced several programs for offering incentives to physicians and pharmacists to promote generic substitution in the nation. Besides, numerous brand-name drugs are set to lose their patent protection in the near future which will have a positive effect on the generic drugs market in the country.
Some of the prominent players in the Generic Drug market include:
- Teva
- Mylan
- Actavis (Teva)
- Sandoz (Novartis)
- Sun Pharma
- Par Pharmaceuticals (Endo Pharmaceuticals)
- Lupin Pharmaceuticals
- Dr Reddy’s
- Hospira (Pfizer)
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
By Brand
- Pure generic drugs
- Branded generic drugs
By Route of Drug Administration
- Oral
- Topical
- Parental
- Others
By Therapeutic Application
- Central nervous system (CNS)
- Cardiovascular
- Dermatology
- Oncology
- Respiratory
- Others
Key Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Others
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Key Questions Answered in US Generic Drug Market Report
- What will be the sales/revenue generated by US Generic Drug across all regions during the forecast period?
- What are the opportunities in the US Generic Drug market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which application is expected to generate the highest revenue U.S. in 2030?
- Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the U.S. market?
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You can place an order or ask any questions, please feel free to sales@novaoneadvisor.com| +1 9197 992 333
US Generic Drug Market (Drug Type: Simple Generics And Super Generics; By Brand: Pure Generic Drugs And Branded Generic Drugs; By Route Of Drug Administration: Oral, Topical, Parental, And Others; By Therapeutic Application: Central Nervous System (CNS), Cardiovascular, Dermatology, Oncology, Respiratory, And Others; By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, And Others) - Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2022 - 2030
According to Nova one advisor, the U.S. Generic Drug market size was valued at US$ 123.75 billion in 2021 and is expected to hit US$ 155.82 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.59% from 2022 to 2030.
Full Report is Ready | Request Sample of This Report@ https://www.novaoneadvisor.com/report/sample/6745
Generics are off-patented drugs that are bioequivalent to branded medications in terms of dosage, strength, quality, form, effect, intended use, side effects, and route of administration. In the US, generic drugs have witnessed a substantial rise in production as they are less expensive than branded drugs and do not require extensive research and testing. Additionally, the introduction of generic medicines has helped in sustaining the healthcare system of the country with improved patient access and generating savings for taxpayers, employers and insurance providers. Moreover, the market is currently experiencing significant growth due to a rise in the prevalence of chronic diseases across the region, such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease.
Report Scope of the U.S. Generic Drug Market
| Report Coverage | Details |
| Market Size in 2021 | USD 123.75 Billion |
| Revenue Projection By 2030 | USD 155.82 Billion |
| Growth Rate | CAGR of 2.59% from 2022 to 2030 |
| Base Year | 2021 |
| Historical data | 2017 - 2020 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Drug, Brand, Route of Drug Administration, Therapeutic Application, Distribution Channel |
Full Report is Ready | Quick Buy This Premium Report From Here@ https://www.novaoneadvisor.com/report/checkout/6745
Market Drivers:
In recent years, there has been a rise in the number of generic drug approvals across the US supported by the implementation of the Drug Competition Action Plan of the FDA that aims towards the elimination of barriers faced by the generic-drug manufacturers. Furthermore, to enhance the generic-drug development and approval process, the US Food and Drug Administration (USFDA) has reauthorized the Generic Drug User Fee Amendments in 2017. The GDUFA II allows the collection of user fees from generic-drug manufacturers to provide the FDA with additional resources for generic-drug reviews. Other than this, the Government has introduced several programs for offering incentives to physicians and pharmacists to promote generic substitution in the nation. Besides, numerous brand-name drugs are set to lose their patent protection in the near future which will have a positive effect on the generic drugs market in the country.
Some of the prominent players in the Generic Drug market include:
- Teva
- Mylan
- Actavis (Teva)
- Sandoz (Novartis)
- Sun Pharma
- Par Pharmaceuticals (Endo Pharmaceuticals)
- Lupin Pharmaceuticals
- Dr Reddy’s
- Hospira (Pfizer)
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030
By Brand
- Pure generic drugs
- Branded generic drugs
By Route of Drug Administration
- Oral
- Topical
- Parental
- Others
By Therapeutic Application
- Central nervous system (CNS)
- Cardiovascular
- Dermatology
- Oncology
- Respiratory
- Others
Key Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Others
Click Here to View Full Report Table of Contents
Key Questions Answered in US Generic Drug Market Report
- What will be the sales/revenue generated by US Generic Drug across all regions during the forecast period?
- What are the opportunities in the US Generic Drug market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which application is expected to generate the highest revenue U.S. in 2030?
- Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market position of different companies operating in the U.S. market?
Full Report is Ready | Quick Buy This Premium Report From Here@ https://www.novaoneadvisor.com/report/checkout/6745
You can place an order or ask any questions, please feel free to sales@novaoneadvisor.com| +1 9197 992 333