Global generic Medicnes market is driven by the prevalence of various diseases, need for cost effective Medicnes for treatment, and government initiatives to increase the use of generic Medicnes. In addition, favourable regulatory policies, expiry of the branded Medicnes, and growth in biosimilars segment are expected to boost the generics Medicnes market. Furthermore, participants in the supply chain such as wholesalers, retailers and pharmacies also benefit from the sale of the generic Medicnes with high margins compared to branded generics. This emerged as key driver for the growth of global generic Medicnes market. However, lack of awareness about the availability of generic Medicnes, competition from branded generics and lack of price control are hampering the generic Medicnes market.A sample of this report is available upon request @ [URL]https://www.precisionbusinessinsights.com/market-reports/global-generic-drugs-market/#ulp-4H8Z4LpNMLEuOnnx[/URL]
Generic Medicnes market segmented based on therapeutic area and distribution channel
Based on therapeutic area, global generic Medicnes market is segmented into
Cardiovascular
CNS
Antibiotics
Oncology
Gastrointestinal
Hormones
Pain Management
Others
Based on distribution channel, global generic Medicnes market is segmented into
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
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Generic Medicine market is highly fragmented market, presence of large players and small players. To improve their market position in generic Medicine market companies are adopting strategies like expanding their market presence through collaboration and entering into new markets. For instance, in January 2017, Medical inhaler company Vectura Group PLC collaborated with Sandoz, a division of Novartis AG, to develop a generic version of an inhaler therapy for asthma and COPD (chronic obstructive pulmonary disease). In January 2016, Momenta collaborated with Mylan Laboratories for the development, manufacture and commercialization of six of its biosimilar candidates, including M834, Orencia (abatacept) a biosimilar candidate. Mergers and acquisitions are key strategies adopted by various market players. For instance, in August 2016, Teva Pharmaceutical Industries Ltd Acquired Allergen’s generic business Actavis Generics to expand their product, R&D portfolio and geographical footprint in generic market.
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Some of the market players in generic Medicnes market are Mylan N.V. (U.S.), Sun Pharmaceutical Industries Limited (India), Teva Pharmaceutical Industries, Ltd. (Israel), Dr Reddy’s Laboratories (India), Novartis AG (Sandoz International GmbH) (Switzerland), Apotex Holdings Inc. (Canada), Endo International plc (U.S.), Pfizer Inc. (U.S.), Johnson & Johnson Services Inc., (Janssen Pharmaceutica) (U.S.), Lupin Limited (India), Merck & Co, Inc. (U.S.), Mitsubishi Tanabe Pharma (Japan), Momenta Pharmaceuticals (U.S.), Nexus Pharmaceuticals (U.S.), and Novo Nordisk (Denmark) to name a few.
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