The US is the largest pharmaceutical market in the world. Driven by the factors such as large healthcare spending, high per-capita income, and strong research & development investments, the pharmaceutical market in the US has witnessed an upward surge over the past few years. Additionally, the share of Generics has increased steadily in the pharmaceutical market, in terms of both revenue and prescriptions.
The US generic drugs market accounts for a share of around 45% in the global Generics market. This share has been growing at a fast pace on the back of factors, such as demand for cost-effective medications, rising healthcare expenditure, increasing ageing population, patent expiration of blockbuster drugs, and enhanced government support. Besides, factors such as surging drug prices, lack of FDA support, long product approval process, and legal controversies related to drug approvals are holding back growth in the Generics industry.
According to RNCOS “US Generic Drug Market Outlook 2018”, the US Generics market, which was US$ 43.5 Billion in 2013, is anticipated to grow at a CAGR of around 11% during 2013-2018. Currently, the market is witnessing significant developments in terms of new product categories that are attracting huge investments from both public and private players. The Generics market in the US will showcase a healthy growth potential in various therapy segments, such as oncology, respiratory, thyroid, ulcers as well as cholesterol disorders in the coming years. Growth in the aforementioned segments will be the result of patent expirations of a number of the major drugs in the next few years. The support from the US government in the form of approvals and incentives, will also act as a catalyst for future growth in the generic domain.
The report covers all the important aspects of the US Generics market and provides an in-depth analysis on the current status of the market, emerging trends, competitive landscape and future outlook, among other pointers. It also provides valuable information to pharmaceutical and generic drug companies and investors looking to enter this market. Facts and figures regarding market size, growth, share, regulatory environment and trends in technology development have been thoroughly analyzed in the report to provide clients a comprehensive overview of the market.
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