Specializing in therapeuticsolutions for critically and chronically ill patients, the company’s diverseportfolio encompasses biopharmaceuticals, clinical nutrition, MedTech products,generic IV drugs, and IV fluids. TevaPharmaceutical Industries Limited is a renowned global pharmaceuticalcorporation dedicated to facilitating worldwide patient access tocost-effective medications and leveraging innovations to enhance healthoutcomes. The company’s overarching objective is to assume a prominent globalposition in generics, pioneering medicines, and biopharmaceuticals, therebyenhancing patient well-being. Sun Pharma is a global pharmaceutical company committed to conducting business with the highest standards of professional integrity and ethical behavior. They offer a wide range of pharmaceutical products and aim to improve the health and well-being of people around the world. Despite this potential, generic and biosimilar medicines remain out of reach for many in LMICs, particularly vulnerable populations and those living in low-income countries.
- China will retain the largest proportion of generic drug sales through to 2030, at around 70% of the APAC region.
- In addition, chronic diseases can cause almost 38 Billion deaths per year worldwide, according to the WHO.
- Many patients in conflict zones and low-income countries have limited pharmaceutical manufacturing and are heavily reliant upon imports to access generics.
- Amneal Pharmaceuticals is a pharmaceutical company that specializes in the development and production of essential medicines.
- Grupo NC is a Brazilian pharmaceutical company that specializes in the production and distribution of generic medications.
- The inception of generic medicine in India dates back to the post-independence era in 1947 when the pharmaceutical landscape was dominated by foreign companies, holding over 90% of the market share.
- By March 2023, it had onboarded over 135,000retailers, facilitating enhanced market outreach and accessibility.
- With a focus on quality and innovation, the company produces its own generic drugs and food supplements, as well as offers manufacturing services for other companies.
- Among the premier companies in the Generic Drugs sub-industry are ABC Pharmaceuticals, XYZ Pharmaceuticals, and PQR Healthcare.
Strategies for Expanding Access
The global generic drugs market is forecasted to generate $404.3 billion in revenue in 2022, with an estimated compound annual growth rate of 7.20% until 2030, reaching $705.1 billion. In the dynamic landscape of healthcare, the demand for accessible and cost-effective medications is more pronounced than ever before. A significant player in this realm is the global market for generic drugs — a sphere that has witnessed remarkable growth and transformation in recent years. Generic drugs are medicinal products that can be manufactured and marketed by entities other than the innovator company once the original patents have expired. These drugs are bioequivalent to their brand-name counterparts, offering the same therapeutic benefits but at a fraction of the cost. Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community.
Top 10 Generic Drugs Companies in the World:
Lupin is a global pharmaceutical company that specializes in the development, manufacture, and sale of a wide range of generic and specialty drugs. With a focus on key therapeutic areas like cardiovascular and respiratory health, Lupin offers innovative and cost-effective solutions to patients and healthcare providers worldwide. While there is continued unrest in some regions, both economically and politically, the regional pharmaceutical market is becoming more attractive. In addition, although most of the market was held previously by the originator drugs, new guidelines favoring generic drugs are being implemented worldwide. Publicly funded health systems are under amplified pressure to reduce the ever-rising drug budgets.
Joint event with World Economic Forum on the evolving role of generics – Meeting Report
As a result, the industry is highly competitive, with numerous companies vying for market share and striving to deliver cost-effective medications to consumers. Cipla’sgenerics division has solidified its leadership in the trade generics sectorthrough continual expansion of its portfolio and efficient executionstrategies. This concerted effort has enabled the company to extend its reachto over 15,000 pin codes, ensuring access to quality medications for patientsin tier 2 cities and beyond. With a portfolio comprising over 200 brands across26 therapeutic categories, the generics segment has achieved remarkable 9%growth, driven by the robust performance of flagship brands and successfullaunches of new products. AurobindoPharma Limited, headquartered in Hyderabad, India, stands as a leading globalpharmaceutical entity renowned for its expertise in manufacturing both genericformulations and active pharmaceutical ingredients (API). With a strategicemphasis on crafting intricate pharmaceutical products for global markets,Aurobindo specializes in tackling complex and challenging manufacturingprocesses.
- Generics and biosimilars are crucial in providing affordable and effective treatments for various diseases.
- They started with the production of solid dosage forms and later expanded to other types of dosages.
- In the dynamic landscape of healthcare, the demand for accessible and cost-effective medications is more pronounced than ever before.
- In Europe, Freseniusswiftly introduced Sugammadex, a neuromuscular block reversal agent, to themarket upon patent expiry.
- With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years.
- Annually, it delivers over 800 milliontreatments to patients, resulting in over USD 18 billion in direct savingsacross the US and Europe.
- Abbott’s main business is the research, development, manufacturing, and distribution of a wide range of healthcare products.
What was the value of the global generic drugs market in 2023
The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base. A world leader in generic drug manufacturing with operations in North America, Europe, Asia, and Latin America, Teva has a strong distribution network with a presence in over 60 countries. One of the primary contributions of Indian pharmaceutical companies to global healthcare is the production of high-quality generic drugs. Generic medicines, which are bioequivalent to their branded counterparts, provide a cost-effective alternative without compromising efficacy. Indian pharmaceutical firms have become pioneers in producing generic versions of essential drugs, making treatments more affordable and accessible globally.
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Generic medicine manufacturers can develop business models prioritizing long-term sustainability, and balancing commercial viability with approaches that increase access to medicines. Discover the top 20 fine chemicals companies offering tailored solutions for pharmaceuticals, crop protection, and specialty polymers. Depending on the market covered, sales are conducted directly to customers or through distributors outside of the United States. IMARC Group is a leading market research company dedicated to providing data-driven insights and expert consulting services to support businesses in achieving their strategic objectives across diverse industries. Anushka Bhattacharya is an editor and content writer for a market research and business consultancy company, IMARC Services Pvt.
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The inception of generic medicine in India dates back to the post-independence era in 1947 when the pharmaceutical landscape was dominated by foreign companies, holding over 90% of the market share. Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history. Driven by Knowledge and Services, InviMeds to become essential to its customers by providing access to most advanced treatment medicines and related services to help improve people’s quality of life. Recent studies reveal concerning trends in the availability and pricing of generic drugs for Hepatitis B and C. Despite reduced pharmacy prices, out-of-pocket costs for entecavir, a generic Hepatitis B antiviral, increased for privately insured patients from 2014 to 2018. Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities.
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As the healthcare industry continues to prioritize cost-effective solutions, the generic drugs industry is likely to experience steady growth in the coming years. Sandoz Group AG is a leading global pharmaceutical company specializing in generic and biosimilar medicines. With a strong commitment to quality, accessibility, and affordability, Sandoz continues to drive innovation and improve healthcare outcomes worldwide. Pfizer Inc., a leading global pharmaceutical company founded in 1849, has a prominent presence in the generic drug market. Known for pioneering breakthrough medications like Viagra and Lipitor, Pfizer also offers a diverse portfolio of high-quality generic drugs across therapeutic areas such as cardiovascular, central nervous system, and respiratory diseases.
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The government is finding ways to restore the fiscal balance by transferring more funds to patients and private health insurance. The continued rise in the expenditure on prescribed drugs and the healthcare expenditure accounting for a substantial percentage of a nation’s GDP is attributed to the generic drug manufacturers producing effective products at an advantageous price. Also, it enables them to hold an attractive position to fulfill the increasing essential need for these medicines. Also, as generic-friendly policies are expected to be enacted, the market share of patented drugs is expected to erode further in the next decade, thereby resulting in the growth of the generic drugs market worldwide.
- The Sandoz Division of the corporation is a global leader in generic pharmaceuticals and biosimilars, pioneering unique techniques to help people access high-quality medications all around the world.
- Notably, Sandoz holds aleading global position in generic antibiotics, uniquely positioned with alarge-scale vertically integrated business headquartered in Europe.
- The success of Indian generics is attributed to competitive pricing, allowing these medicines to gain significant market share, especially in countries with cost-conscious healthcare systems or large populations lacking access to expensive brand-name drugs.
- The National Health Mission (NHM) operates a free drug initiative aimed at supporting the provision of essential generic medications at no cost in public health facilities.
- The Indian pharmaceutical industry has invested significantly in research and development (R&D) activities, creating innovative generic drugs.
- Compulsory licensing is a significant measure allowing the production and export of low-cost generic drugs by bypassing patent monopolies, especially crucial during public health crises like pandemics.
Opportunities for Generics in Emerging Markets
Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals. Teva Pharmaceuticals was the world’s second-largest generic medicine manufacturer and eighth-largest pharmaceutical firm in 2020. What sets these eminent companies apart from their industry rivals are their unique qualities. They have a deep understanding of regulatory frameworks and compliance requirements, allowing them to navigate complex approval processes smoothly. They also possess strong relationships with healthcare providers, enabling them to collaborate on drug development and distribution.
- Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol.
- In 2020, Mylan merged with Upjohn to form Viatris Inc., marking the end of its independent existence.
- Viatris is based in Pittsburgh, Pennsylvania, with global offices in Shanghai, China, and Hyderabad, India.
- It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor.
- Thecompany exhibits a robust presence in intricate generics such as injectablesand respiratory inhalers.
- Despite this potential, generic and biosimilar medicines remain out of reach for many in LMICs, particularly vulnerable populations and those living in low-income countries.
- Novartis prioritizes innovation, quality, and accessibility, evident in its global reach, philanthropic efforts, and commitment to improving healthcare worldwide.
- These companies, driven by innovation, efficiency, and a commitment to public health, are instrumental in making healthcare accessible worldwide.
- They focus on providing branded and generic medications, active pharmaceutical ingredients (APIs), and over-the-counter products.
India’s Export Markets: Global Healthcare Accessibility
This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region. Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs. With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market. They have also expanded internationally, with presence in 20 countries in Africa and the Middle East. Notable contributions include 40% of generics in the U.S., 25% in the U.K., 60% of global anti-retroviral drug supplies, and fulfilling 30% of UNICEF’s annual requirements.
The company a strong distribution network that spans more than 165 countries, with a prominent presence in emerging markets, such as India, China, and Brazil, with a continually growing demand for affordable generic drugs. The generic drug production industry encompasses companies that focus on the manufacturing and distribution of generic medications. These are companies producing drugs that have exactly the same active ingredients as brand-name drugs, but are accessible at a fraction of the cost. Their responsibilities include compliance with health, safety, and regulatory standards, and ensuring the efficacy and quality of the products. The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs. Future growth and expansion of the industry are projected due to factors such as growing drug patent expiracies and an increasing emphasis on cost-effective healthcare solutions.
- Generic medicine suppliers play a vital role in reducing expenses, enhancing access to essential treatments, and bridging global healthcare gaps.
- For instance, in May 2022, Sandoz will expand its respiratory portfolio by launching the first generic pirfenidone in the United States for patients with idiopathic pulmonary fibrosis.
- In2023, Teva obtained tentative approvals for generic counterparts of variousproducts including Tofacitinib Tablets, Fidaxomicin Tablets, EncorafenibCapsules, among others, while ensuring no duplication of applications.
- Whether working with small start-ups or large enterprises, Anil consistently delivers high-quality research that supports informed decision-making and drives impactful results in the healthcare industry.
Discover the top human resources software companies offering innovative solutions for workforce management, including Workday and BambooHR. The Nutritional Products segment encompasses a vast range of pediatric and adult nutritional items that are developed, marketed, and sold all over the world. Abbott-owned distribution centers or third-party distributors advertise and sell these items directly to customers, institutions, wholesalers, retailers, health care facilities, government organizations, and third-party distributors. In2023, Teva obtained tentative approvals for generic counterparts of variousproducts including Tofacitinib Tablets, Fidaxomicin Tablets, EncorafenibCapsules, among others, while ensuring no duplication of applications.
Aurobindo Pharma
This initiative establishes dedicated outlets known as Janaushadhi Kendras, which provide generic medicines at economical rates, thereby enhancing accessibility to essential healthcare treatments. In November 2023, US President Joe Biden announced a strategic pivot towards reducing dependence on foreign-made drugs and Active Pharmaceutical Ingredients (APIs), highlighted by a USD35mn investment in domestic API production. While such policies have the potential to increase domestic production of essential medicines, it will not be sufficient to cover an increasing list of generics shortages. The global market for generic drugs is expected to grow from $435.3 billion in 2023 and projected to reach $655.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028.
Tabuk Pharmaceuticals Manufacturing Company
With a strong commitment to research, quality, and affordability, Pfizer continues to innovate and expand its generic drug offerings, ensuring patients worldwide have access to essential medications at competitive prices. They offer a wide range of medications, including generic and branded drugs, as well as contract manufacturing services for other pharmaceutical companies. With a strong focus on quality and innovation, Hikma.com aims to improve global healthcare through their reliable and affordable solutions. The expiration of patents on many brand-name drugs has led to a surge in demand for generic alternatives due to their lower cost, particularly in addressing chronic diseases that account for a significant portion of global mortality. With only a fraction of prescriptions being for branded generics, the market is dominated by unbranded generic drugs, offering a cost-effective solution for patients.
Global – Regional Generic Drug Sales, CAGR USDbn (2020-
Producing 60,000 generic brands across 60 categories, India meets substantial global demand and provides affordable HIV treatment. Generic drugs first appeared in 1984, when the Hatch-Waxman Act encouraged the manufacture of generic drugs and developed system regulation. In contrast to branded products, generic drugs have the same API pharmacokinetic and pharmacodynamic properties. It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor. Branded drug manufacturers spend money on research and development and ads for their new products, and they are granted a monopoly for a set period. However, when a patent expires, manufacturers may ask the FDA for permission to produce generic drugs.
The Indian pharmaceutical industry has evolved significantly over the past few decades, transforming from primarily domestic to global. Today, it is the third-largest pharmaceutical market in terms of volume and ranks among the top 10 in terms of value. This growth has been fueled by a commitment to research, development, and a focus on producing cost-effective generic drugs. The industry’s expansion goes beyond generic drug manufacturing, with Indian pharmaceutical companies increasingly emphasizing innovation, novel drug development, and substantial investments in biopharmaceuticals and biosimilar research. This strategic diversification strengthens India’s position in the global pharmaceutical market.
Additionally, anesthesiologists and hospital officials from various hospitals in Shanghai said the generic versions of the anesthetics they use produce the desired clinical outcomes. Interviews with them, along with a retrospective study at Ruijin Hospital, showed no significant dosage changes before and after the bulk procurement program. This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources.
With subsidiaries and offices in over 80 countries across the Americas, Europe, the Middle East, Africa, and Asia-Pacific, Novartis products reach about 800 million customers globally. Viatris is a global pharmaceutical company offering a wide range of therapeutic products and services. They focus on providing branded and generic medications, active pharmaceutical ingredients (APIs), and over-the-counter products. With a commitment to sustainability and corporate responsibility, Viatris aims to improve global healthcare and enhance patient outcomes.
- In the event of negative reactions or patient side effects resulting in the report, the FDA investigates and makes required changes in the usage and manufacturing of these medicines.
- Formed through the merger of Mylan and Pfizer’s Upjohn business, Viatris is a relatively new player that has quickly risen through the ranks.
- Founded in 1983, Sun Pharmaceutical Industries Ltd. (Sun Pharma) is one of the world’s largest specialty generic pharmaceutical companies with over 40 manufacturing facilities.
- It focuses on the research, development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished formulations.
- Due to this, the demand for affordable healthcare is growing in the Latin American region, driving the generic drugs market in Latin America as these drugs are an effective alternative to branded drugs.
According to the National Health Interview Survey (NHIS), approximately 51.8 % of US adults have one chronic illness, while approximately 27.2% have several chronic conditions. In addition, chronic diseases can cause almost 38 Billion deaths per year worldwide, according to the WHO. As a result, the demand for generic drugs rises in tandem with the prevalence of chronic diseases, propelling the generic drugs market to new heights. They offer a wide range of generic drugs and steroids, including Carbamazepine, Cefixime, and Betamethasone Sodium Phosphate. With their commitment to quality and the use of modern knowledge, Alborz Bulk aims to become a leading player in the pharmaceutical industry and achieve self-sufficiency in the national economy.
DOC PHARMA exports its products to various European countries and has the potential for global expansion. Abbott, founded in 1888, is a global healthcare company renowned for its generic drug division offering a broad range of pharmaceuticals across therapeutic areas like cardiovascular, CNS, and women’s health. With a focus on quality, affordability, and innovation, Abbott continues to expand its portfolio through strategic acquisitions and R&D investments, ensuring the delivery of high-quality, accessible healthcare solutions worldwide. The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed. Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare.
For these ten assessed products per company – 50 overall – the analysis found that companies had strategies in place to expand access to 41 of them. However, these strategies are very limited in scope and especially do not address affordability considerations for the poorest patients, including those who are uninsured and must pay out-of-pocket for medicine. A global leader in the generics space, Teva boasts a massive portfolio of over 1,600 molecules across various therapeutic areas.
GSK plc, or GlaxoSmithKline, a prominent global pharmaceutical company, has been a leader in innovation since its formation in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham. Specializing in prescription medicines, vaccines, and consumer healthcare products, GSK offers a diverse portfolio spanning respiratory, HIV, oncology, and vaccines. A key factor contributing to the expansion of the worldwidegeneric drugs market is the expiration of patents protecting brandedmedications. When patents expire, generic drug manufacturers gain theopportunity to produce and market their versions of these medications. Thisleads to increased competition in the market, driving down prices and expandingaccess to affordable healthcare options for consumers. Besides, generic drugsare typically more affordable than their branded counterparts, making them anattractive option for both consumers and healthcare providers.
With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years. According to market research, the global generic drugs market is projected to reach a value of $380 billion by 2025, reflecting its upward trajectory and economic magnitude. Eli Lilly and Company, founded in 1876, is a global pharmaceutical leader headquartered in Indianapolis, USA. Specializing in a wide range of therapeutic areas, including oncology, diabetes, and neuroscience, Lilly is renowned for pioneering breakthroughs such as the first commercially available insulin and innovative drugs like Cialis and Prozac. Recent developments include advancements in oncology with drugs like Verzenio, as well as ongoing research into Alzheimer’s treatments.
Continuouslyexpanding its generic IV drug portfolio, Fresenius Kabi also introduced ZincSulfate, with one of its stock-keeping units earning a Competitive GenericTherapy (CGT) designation. Additionally, the company launched Vasopressin, acardiovascular medication available in single-dose vials. In Europe, Freseniusswiftly introduced Sugammadex, a neuromuscular block reversal agent, to themarket upon patent expiry. The administration said claims suggesting the generic drug is less effective are based on personal experiences. The ongoing study centers on assessing the availability, affordability, and acceptability of essential medicines under the PMBJP initiative. Learn more about the BMI products and services that empower you to make critical business decisions with confidence.
Encouragingly, the report found strong examples of how companies are engaging in adaptive R&D to tailoring products to the needs of people in LMICs, with nine adaptive R&D projects identified among the companies in scope. These include products specifically adapted for children; products adapted so that they do not require refrigeration; and formulations that simplify dosing regimens. BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype.
Generic drugs sales are facing increasing challenges in the US, mainly due to pricing pressures. Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls. This has led many US and foreign generic drug companies to lower their expectations for growth in the US. Consequently, low-cost generics from India and China will remain in high demand from the US until sufficient subsidies or alternative support for domestic generic drugs production expansion are offered. Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US.
Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic. Metformin, metoprolol, amphetamine salt combo, acyclovir, bupropion HCL tablet, cholestyramine, ibuprofen tablet, letrozole, and verapamil are some examples of generic drugs. The Sandoz Division of the corporation is a global leader in generic pharmaceuticals and biosimilars, pioneering unique techniques to help people access high-quality medications all around the world. Sandoz is the only generics firm in the top three in all major regions of the world, reaching over 500 million people annually and helping healthcare systems save money around the world. They have over 1,000 molecules covering a wide range of therapeutic areas and are a renowned pioneer in antimicrobials with over 150 product and technology combinations.
The generics industry plays a vital role in expanding access to medicines in emerging markets. By addressing the challenges and seizing the opportunities, generic medicine manufacturers can ensure that high-quality, safe, and effective medications are available to those who need them most. As Jayasree K. Iyer, CEO of the Access to Medicine Foundation, emphasized, “It is vitally important that all healthcare sectors address inequality and improve access, which we revolade price in mexico have articulated in our new Strategic Direction”. Generic drugs present several key benefits, foremost among them being the significant reduction in healthcare expenses. Opting for generic medications enables patients to save money while still receiving high-quality care. Additionally, these medicines contribute to equalizing the availability of treatments between developed and developing countries, ensuring widespread access to essential healthcare solutions.