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Generic Drug Industry: Market Research Reports, Statistics and Analysis

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(Photo: P. Thauvin)Global Generic Drug Industry

 

The global generic drug market should grow at a compound annual growth rate of 15% over five years to be worth just under $169 billion in 2014, according to a report from BCC Research.

 

The generic drug industry covers the marketing and sale of medication containing the same active ingredients and dosages as brand-name drugs manufactured by the pharmaceutical industry. Drugs can be prescribed under their chemical name without specifying a particular pharmaceutical brand or company. A key benefit of generic drugs is that they usually cost a fraction of the price of brand-name drugs, as much as 80% to 85% less according to the US Food and Drug Administration. For example, Glucotrol, a drug used in the treatment of diabetes, represents a monthly cost to patients of between $42 and $84 for 10 mg tablets; however, the drug’s generic version, Glipizide, costs up to 10 times less at between $4 and $8 per month.

 

Generic drugs are under the same governance as brand-name drugs and must adhere to the same standards. When brand-name drugs come off patent, the market is opened up to generic versions. Patent protection generally protects a drug’s intellectual property rights for about 20 years, but as the patent is effective from the clinical trial stage, the actual time the drug is on the market can be far less, often between 10 and 14 years. After a patent expires, pharmaceutical companies come under fierce pricing pressure due to competition from their less-expensive generic counterparts.

 

Drugs coming off patent through 2014 represent a forecast annual loss of $136 billion, according to industry analysis. Generics help reduce government spending on healthcare, accounting in part for a near 5% decrease in US drug spending, reports the FDA. The FDA acts as a governing body for generic drugs to enforce maximum standards of variation with brand-name drugs. However, in an 11-year study, variation in absorption of branded and generic drugs was found to be as little as 3.5%. Such negligible variation could equally exist in a comparison of two branded drugs.

 

Value of Products at risk to Generic Competition - 2010 to 2014 

 


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Global Generic Drug Market

  • Industry report
  • February 2014
  • 5 pages
  • Industries: Generic Drug
  • Countries: World

Generic Drug Business in The United States and India

  • Industry report
  • January 2014
  • 13 pages

... World 09/01/2014 generic competitors novartis acquired 2 generic companies low-cost firms from india and eastern europe are growing generic drugs were released by innovative firms 09 ...

  • Industries: Generic Drug
  • Countries: World, United States, India

The European Generic Drug : Sector Statistics

  • Industry report
  • November 2013
  • 31 pages

... The generic medicines market grow 16 increase savings for the bulgarian health system making the generic medicines market grow 17 external reference pricing not for generics key risks when introducing erp ...

  • Industries: Generic Drug
  • Countries: Europe, Bulgaria

Generic Drug in Asia : Sector Overview and Key Players

  • Industry report
  • September 2013
  • 6 pages

... The answer How will other players such as cmos, cros, drug delivery companies all contribute to growing the super generics portfolio Will there be a shift or balance of power for pharma and generics ...

  • Industries: Generic Drug
  • Countries: Asia, Thailand, Singapore

Generic Drug Sector in Japan

  • Industry report
  • December 2012
  • 20 pages

... For stable supply of generics as for compliance with the stable supply of generics, mhlw has set three requirements for generic medicines companies in 2006: At least five-year supply continuity ...

  • Industries: Generic Drug
  • Countries: Japan

Generic Drug Business in Australia and Italy

  • Industry report
  • November 2012
  • 13 pages

... Ingredient as branded products. At the beginning of the campaign 72% of consumers said they would use a generic medicine and this rose to 77% after the campaign. generic medicines rose 5% as a proportion ...

  • Industries: Generic Drug
  • Countries: Australia, Italy

The Canadian Generic Drug Business

  • Industry report
  • June 2013
  • 50 pages

... Countries are focusing on controlling the cost of publicly- funded drugs and effectively allocating health resources, governments tend to favour pharmaceutical policies that call for greater use of generics ...

  • Industries: Generic Drug
  • Countries: Canada

Generic Drug Business in Europe, Brazil and The United States

  • Industry report
  • February 2013
  • 10 pages
  • Industries: Generic Drug
  • Countries: Europe, Brazil, United States

Generic Drug in The United States and China : Innovation and Technology Trends

  • Industry report
  • July 2013
  • 6 pages

... Approximately 45% of these savings came from generic drugs that entered the market since 2002, many of which became available months and even years before the expiration of the counterpart brand drug ...

  • Industries: Generic Drug
  • Countries: United States, China

Generic Drug in The United States and Australia : Innovation and Technology Trends

  • Industry report
  • March 2012
  • 23 pages

... Ctii tbild bt Continuing o uild on our ro us small-molecule generic pipeline Evolving in new directions beyond gy small-molecule compounds including biosimilars such as retacrit (Epo ...

  • Industries: Generic Drug
  • Countries: World, United States, Australia
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