US Generic Drug Market Size, Share, Outlook, Industry Overview, Regional Analysis, Latest Trends and Forecast 2022-2027

The US Generic Drug Market is Expected to reach US$ 105.7 Billion by 2027, exhibiting a CAGR of 3.9% during 2022-2027.

SHERIDAN, WY, USA, November 22, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “𝗨𝗦 𝗚𝗲𝗻𝗲𝗿𝗶𝗰 𝗗𝗿𝘂𝗴 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝟮𝟬𝟮𝟮-𝟮𝟬𝟮𝟳”, the US generic drug market size reached US$ 83.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 105.7 Billion by 2027, exhibiting a CAGR of 3.9% during 2022-2027.

Generic drugs are off-patent, non-branded medications that act as bioequivalent to their branded counterparts and contain similar active ingredients. In terms of their strength, purity, and quality, they are able to meet the batch-to-batch requirements as the original manufactured products. They are further identical in dose, route of administration, safety, functionality, intended usage, and yielding the same therapeutic effect. Apart from this, generic drugs are more inexpensive than authentic products since they do not require extensive research and development (R&D) procedures to formulate drugs from scratch or spend money on advertising and marketing. Consequently, generic drugs are introduced and marketed after a patent expires or if the original producer waives its rights.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗳𝗿𝗲𝗲 𝘀𝗮𝗺𝗽𝗹𝗲 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.imarcgroup.com/us-generics-market/requestsample

𝗨𝗦 𝗚𝗲𝗻𝗲𝗿𝗶𝗰 𝗗𝗿𝘂𝗴 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀:

The increasing need for cost-effective medications to treat various cardiovascular diseases is primarily driving the market growth. Furthermore, the ongoing generic drug approvals facilitated by the implementation of the Drug Competition Action Plan by the food and drug administration (FDA), aiming to eliminate hurdles faced by generic-drug manufacturers and improve their development and approval, are favoring the market growth. Moreover, the widespread adoption of several schemes to incentivize physicians and pharmacists to encourage generic substitution and the growing consumer awareness regarding the availability of low-cost-treatment options are impelling the market growth. Besides this, the rising usage of artificial intelligence (AI) technology and robotic process automation (RPA) to automate generic drug production at the minimized time, energy, and capital while complying with rules-based procedures to meet regulatory standards is supporting the market growth.

𝗖𝗵𝗲𝗰𝗸𝗼𝘂𝘁 𝗡𝗼𝘄: https://www.imarcgroup.com/checkout?id=567&method=1

US Generic Drug Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the US generic drug market has been studied in the report with the detailed profiles of the key players operating in the market.

𝗦𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:
• Teva
• Mylan
• Actavis (Teva)
• Sandoz (Novartis)
• Sun Pharma
• Par Pharmaceuticals (Endo Pharmaceuticals)
• Lupin Pharmaceuticals
• Dr Reddy’s
• Hospira (Pfizer)

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:

The report has segmented the US generic drug market on the basis of segment, therapy area, drug delivery and distribution channel.

Breakup by Segment:

• Unbranded
• Branded

Breakup by Therapy Area:

• CNS
• Cardiovascular
• Dermatology
• Genitourinary/Hormonal
• Respiratory
• Rheumatology
• Diabetes
• Oncology
• Others

Breakup by Drug Delivery:

• Oral
• Injectables
• Dermal/Topical
• Inhalers

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies

𝗔𝘀𝗸 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗳𝗼𝗿 𝟭𝟬% 𝗳𝗿𝗲𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗿𝗲𝗽𝗼𝗿𝘁: https://www.imarcgroup.com/request?type=report&id=567&flag=C

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝗕𝗿𝗼𝘄𝘀𝗲 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗥𝗲𝗽𝗼𝗿𝘁𝘀:

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