Table of Contents
Generics drugs are bioequivalent versions of the originator medicines. These drugs are cheaper and offer similar health benefits as those of branded counterparts. Generics are showing high penetration in the pharma market across the globe. In India, these drugs account for nearly 75% of the pharma market. This is due to the factors, such as rising healthcare expenditure, ageing population, high incidences of obesity, diabetes and cardiovascular diseases, as well as ongoing patent cliff of blockbuster drugs in the US and European markets. India is a market dominated by branded generics. Approximately 80% of the generics are off-patented drugs sold under brand names by big pharmaceutical companies like Pfizer, Bristol-Myer-Squibb and Glaxosmithkline among others. Branded generics are available at very high cost leading to affordability issues, particularly in rural india.
In the report “Indian Generic Drug Market Outlook 2020”, RNCOS analysts have endeavoured to address the current scenario of generics drug industry, factors favouring growth of the market, major roadblocks for the lack of penetration of unbranded drugs, and government initiatives to promote generic drugs. The report covers detailed description of the market size of generic drugs and its future forecast till 2020. Additionally, market segmentation of generic drugs by therapeutic segments is also included. RNCOS predicts that owing to the implementation of government schemes, like Jan Aushadhi, Free essential drug, and Sehat, the unbranded generic drug market is likely to show a promising growth in the near future. The generic drug market is anticipated to grow at a CAGR of 16.3% from 2014-2020.
The latter half of the report provides competitive landscape including the market shares of key players, such as Sun-Pharma, Dr. Reddys, Cipla, Lupin, Biocon, and others. Finally, a separate section comprising of opportunity assessment for the domestic generic manufactures is also added. The last part of the report describes several steps that need to be taken by the Government to promote unbranded drugs. On the whole, the report provides information that will prove to be vital for investors interested in the domestic market.
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