Global Generic Drug Market Strategy

The global generic drugs market reached value of US$340 Billion in 2018, registering a CAGR of 6.6% during 2011-2018. A generic drug is a medicine that contains the similar active ingredient and has an bioequivalent therapeutic effects like original drug. It is also identical in case of safety, quality, dosage, strength, route of intake, usage, effects, form, quality and side effects. These drugs can be produced only after the patent expiration of the brand-name drug. As compared to branded drugs, the production of generics cheaper as it does not require the repeated clinical (human) and animal studies to understand the effectiveness and safety of the medicine. The Global market for generic drugs should reach the target value $533 billion by 2021 from $352 billion in 2016 at a compound annual growth rate (CAGR) of 8.7%, from 2016 to 2021. Global drug markets for generic drugs, includes such as antibacterial, antidepressants, anticancer agents, anti-arthritics, cardiovascular drugs, Drugs for respiratory conditions, including asthma and COPD.

 

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