We are monitoring the impact of COVID-19 & Recession alarm on North America Generic Drugs Market Get in touch with us for detailed analysis Know More
Share on

North America Generic Drugs Market Research Report - Segmented By Type, Application, & Country (the United States, Canada & Rest of North America) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 2091
Pages: 145

North America Generic Drugs Market Size (2022 to 2027)

The size of the North America Generic drugs market has been calculated at USD 87.04 billion in 2022. It is expected to reach USD 121.45 billion by 2027, growing at a CAGR of 6.89% between 2022 to 2027.

Generic drugs have the same dosage, safety, effects, side effects, intended use, risks, and strength as a genuine drug. An example of a generic drug for diabetes is metformin. They are cost-effective compared to branded drugs. Generic drugs are also known as abbreviated drugs. To sell a generic drug, the manufacturing company must submit an Abbreviated New Drug Application for approval. This market will increase tremendously during the forecast period.

The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. A key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 billion worth of patents for branded drugs will expire by 2020, which will give generic drugs a huge advantage. 

One more trend which influences market growth is outsourcing. Currently, most doctors in the US are prescribing generic drugs, which will improve even further. As a result, vendors are using outsourcing to reduce their capital which will be an advantage to generic drugs. The only restraint for this market is rigid rules set up by the FDA for approval of these drugs and the threat of counterfeit drugs.

Factors such as increased disposable incomes, the cost-effectiveness of the drugs, and the rising prevalence of chronic diseases are significant factors boosting the North American generic drugs market. In addition, the key drivers of the market are patent expiry and the adoption of thorough evaluations by various regulatory agencies to guarantee optimum standards throughout medication manufacture.

There is a lack of awareness among individuals about generic drugs, which is estimated to restrict the growth rate unleashing its full potential. They perceive them as duplicate drugs and do not seem to trust their effectiveness. Many doctors and pharmacists prescribe branded medications over generic drugs to the patients. High competition between drugs can affect the market growth during the forecast period. Also, the FDA has set up strict rules for approval of these types of drugs which makes it difficult to enter the market itself. Also, counterfeit drugs of these generic drugs are abundantly found in the market, which restricts North American generic drugs market growth.

Impact of COVID-19 on the North American generic drugs market:

Due to the global pandemic, the prices of generic medicines elevated due to the sudden increase in the demand for COVID-19 treatment, rising travel and logistics expenses.

It has impacted the demand for generic drugs as the persistence shortage in COVID-19 led to an increase in the demand. Government and manufactures strategic decisions include some collaborations, agreements with market participants. The supply of the generic drugs, as several active pharmaceutical ingredients (APIs) manufacturers in China, was unable to return due to COVID-19; some Indian generic medicine firms faced production interruption as they were the major which eventually impacted the supply chain.

This research report on the North American generic drugs market has been segmented and sub-segmented into the following categories:

By Type: 

  • Pure Generic Drugs
  • Branded Generic Drugs

By Application: 

  • The Central Nervous System (CNS)
  • Cardiovascular
  • Dermatology
  • Oncology
  • Respiratory
  • Others

By Country:

  • The United States
  • Canada
  • Rest of North America

Geographically, the U.S. generic drugs market had the highest share of the market in the world in 2020. The generic drugs market in the United States is anticipated to develop rapidly between 2022 and 2027. Generic medicines have seen a significant increase in manufacturing in the United States since they are less expensive than branded pharmaceuticals and do not need considerable research and testing as generic medicines. Thus, it plays a crucial role in the US healthcare sector.

In comparison to the previous year, generic prescriptions increased by 2.2%. Apotex is Canada's largest manufacturer; it is owned and managed by itself. There are around 15 generic medication providers, with 13 businesses having production facilities in the nation.

KEY MARKET PLAYERS:

A few of the promising companies operating in the North America generic drugs market profiled in the report are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.

1.Introduction           

                1.1 Market Definition    

                1.2 Study Deliverables  

                1.3 Base Currency, Base Year and Forecast Periods   

                1.4 General Study Assumptions

2. Research Methodology     

                2.1 Introduction        

                2.2 Research Phases      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design  

                2.4 Study Timeline   

3. Overview 

                3.1 Executive Summary

                3.2 Key Inferences  

                3.3 Epidemology       

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)             

                4.1 Market Drivers   

                4.2 Market Restraints    

                4.3 Key Challenges  

                4.4 Current Opportunities in the Market       

5. Market Segmentation        

                5.1 Type       

                                5.1.1 Introduction           

                                5.1.2 Biosimilars               

                                5.1.3 simple generics     

                                5.1.4 Super generics      

                                5.1.5  Y-o-Y Growth Analysis, By Product              

                                5.1.6  Market Attractiveness Analysis, By Product            

                                5.1.7  Market Share Analysis, By Product              

                5.2 Therapeutic drugs   

                                5.2.1 Introduction           

                                5.2.2 Cardiovascular Products    

                                5.2.3 Anti-infective Drugs            

                                5.2.4 Anti Arthritis Drugs              

                                5.2.5 Central Nervous System Drugs       

                                5.2.6 Anti Cancer Drugs

                                5.2.7 Respiratory System Drugs

                                5.2.8 Others      

                                5.2.9 Y-o-Y Growth Analysis, By Therapeutic Drugs          

                                5.2.10 Market Attractiveness Analysis, By Therapeutic Drugs      

                                5.2.11 Market Share Analysis, By Therapeutic Drugs        

6. Geographical Analysis        

                6.1 Introduction        

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

6.1.3.1 By Geographical Area                                     

6.1.3.2 By Type                                 

6.1.3.3 By Therapeutic Drugs                                      

                                6.1.4  Market Attractiveness Analysis     

6.1.4.1 By Geographical Area                                     

6.1.4.2 By Type                                 

6.1.4.3 By Therapeutic Drugs                                      

                                6.1.5  Market Share Analysis      

6.1.5.1 By Geographical Area                                     

6.1.5.2 By type                                 

6.1.5.3 By Therapeutic Drugs                                      

                6.2 United States     

                6.3 Canada  

7.Strategic Analysis  

                7.1 PESTLE analysis  

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis       

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8.Market Leaders' Analysis   

                8.1 Ranbaxy Laboratories     

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 Actavis   

                8.3 Mylan, Inc. Industries, Ltd.  

                8.4 Dr. Reddy’s Laboratories      

                8.5 Par Pharmaceutical, Inc. 

                8.6 Sandoz International GmbH

                8.7 Celgene Corporation       

                8.8 Apotex, Inc.        

                8.9 Watson Pharmaceuticals, Ltd.     

                8.10 Teva Pharmaceutical and others.    

9.Competitive Landscape      

                9.1 Market share analysis     

                9.2 Merger and Acquisition Analysis

                9.3 Agreements, collaborations and Joint Ventures  

                9.4 New Product Launches  

10.Market Outlook and Investment Opportunities    

Appendix     

                a) List of Tables

                b) List of Figures       

  1. North America Generic Drugs Market, By Type, From 2022 - 2027 (USD Million)
  2. North America Biosimilars Market, By Region, From 2022 - 2027 (USD Million)
  3. North America Simple Generics Market, By Region, From 2022 - 2027 (USD Million)
  4. North America Super Generics Market, By Region, From 2022 - 2027 (USD Million)
  5. North America Generic Drugs Market, By Therapeutic Drugs, From 2022 - 2027 (USD Million)
  6. North America Cardiovascular Drugs Market, By Region, From 2022 - 2027 (USD Million)
  7. North America Anti-Infective Drugs Market, By Region, From 2022 - 2027 (USD Million)
  8. North America Anti-Arthritic Drugs Market, By Region, From 2022 - 2027 (USD Million)
  9. North America Central Nervous system Drugs Market, By Region, From 2022 - 2027 (USD Million)
  10. North America Anti-Cancer Drugs Market, By Region, From 2022 - 2027 (USD Million)
  11. North America Respiratory Products Market, By Region, From 2022 - 2027 (USD Million)
  12. North America Others Market, By Region, From 2022 - 2027 (USD Million)
  13. United States Generic Drugs Market, By Type, From 2022 - 2027 (USD Million)
  14. United States Generic Drugs Market, By Therapeutic Drugs, From 2022 - 2027 (USD Million)
  15. Canada Generic Drugs Market, By Type, From 2022 - 2027 (USD Million)
  16. Canada Generic Drugs Market, By Therapeutic Drugs, From 2022 - 2027 (USD Million)

Please wait. . . . Your request is being processed

Related Reports

PURCHASE OPTIONS

excel
$

3335


pdf excel
$

3680


pdf excel powerbi
$

5520


excel
$

2000

What You Get :

  • PDF Report Format.
  • Can be accessible by 1 single user.
  • 6 Months of Free Analyst Support.
  • PDF and Excel Datasheet Formats.
  • Can be accessible upto 2 to 5 users.
  • 1 Year of Free Analyst Support.
  • PDF, Excel and Power BI Dashboard.
  • Can be accessible by unlimited users.
  • 1 Year of Free Analyst Support.
  • Excel Datasheet Format.
  • Customized access as per user request.
  • Upgradable to other licenses.
customer-support
ASK FOR CUSTOMIZATION

Talk to our analyst and get customised report done according to your research needs

tag
INQUIRE FOR DISCOUNT

Check if you can avail any discount. Submit your details and our team will get back to you.

cloud-download
DOWNLOAD FREE SAMPLE

Request to avail a free sample report that reflects this market and its growth.

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 3335

Didn’t find what you’re looking for?
TALK TO OUR TEAM

Find it too expensive?
NO WORRIES!

Click for Request Sample