They offer a wide range of products including generic drugs, biosimilars, and active ingredients. They offer a wide range of generic drugs with the same active ingredient, concentration, pharmaceutical form, and therapeutic indication as the innovator drug. Geolab is committed to providing affordable and high-quality medications to improve people’s health and well-being. Ciplais a global pharmaceutical enterprise deeply committed to enhancingaccessibility and affordability of medications for individuals in need. Itsdiverse product portfolio encompasses complex generics and medicationstargeting respiratory, anti-retroviral, urology, cardiology, anti-infective,CNS, and various other critical therapeutic segments.
Global – Regional Generic Drug Sales, CAGR USDbn (2020-
With a focus on innovation and customer satisfaction, Aurobindo Pharma offers a wide range of healthcare products globally. Alvogen is a global pharmaceutical company that develops, manufactures, and sells generic, brand, over-the-counter, and biosimilar products. In 2024, the global market for generic drugs is projected to increase by USD3bn, a growth rate of 6.7% from 2023, enzalutamide cost uk bringing total sales to an estimated USD51bn. This growth is anticipated to be particularly strong in the Asia-Pacific (APAC) region (10% in 2024 to USD246bn), led by Mainland China and supported by wider demographic shifts and economic growth. The APAC region is undergoing a significant transformation due to an ageing population, especially in Japan, China and South Korea.
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This strategic diversification strengthens India’s position in the global pharmaceutical market. Generic medications, being generally more economical than their branded counterparts, provide enhanced accessibility to a diverse patient demographic, notably benefiting those in low- and middle-income countries. These generic drugs present a financially prudent option, offering a cost-effective alternative for essential treatments, thereby expanding access to a wider population. This economic viability becomes particularly vital in regions where financial limitations frequently impede the availability of critical, life-saving medications.
Growing Patient Population of Chronic Diseases
It focuses on the research, development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished formulations. Dedicated to affordability and improving well-being, Qilu has a robust pipeline of over 200 generic, 30 biosimilar, and 80 innovative products. 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.
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- With rising healthcare costs and an aging population, the demand for generic pharmaceuticals is set to increase further, making the industry integral for global health in the foreseeable future.
- As part of its research and development efforts, Fresenius Kabi develops new generic drugs and pipeline products.
- Sandozboasts a diverse global portfolio comprising approximately 1,500 high-qualitybiosimilar and generic medications.
- Moreover, both the company’s North AmericaGenerics business and its Branded Generics segment in India and EmergingMarkets attained billion-dollar status for the second consecutive year inFY2023.
- The Indian pharmaceutical industry has swiftly ascended to global prominence, establishing itself as a primary hub for the manufacturing and export of generic medicines.
- Teva Pharmaceutical Industries Ltd. is a global leader in generics and biopharmaceuticals, dedicated to improving the lives of patients worldwide.
- Novartis prioritizes innovation, quality, and accessibility, evident in its global reach, philanthropic efforts, and commitment to improving healthcare worldwide.
- Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare.
The presence of notable generic drug manufacturers in Europe, such as Teva Pharmaceutical Industries Ltd., Mylan NV, and Novartis International AG, favors the growth of the generic drugs market. The cost-effectiveness of generic medications has increased demand for the generic drugs market. Generic drugs increase competition in the industry, leading to a drop in prices and more people being prescribed generic drugs by healthcare providers. Generic drugs are 85 % less expensive than conventional drugs, so in the United States, 9 out of 10 prescriptions are filled with generic drugs, saving almost $2.2 trillion over the past decade.
Sandoz France
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 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. Sandoz (Novartis) Sandoz, a division of Novartis, stands as a leading global player in generic pharmaceuticals and biosimilars. Renowned for its expansive portfolio of high-quality and affordable generic medications, the company has firmly established its presence in Europe, the United States, and Japan.
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Torrent.com.br is a pharmaceutical company that specializes in the production and distribution of high-quality medications in areas such as cardiovascular and diabetes, central nervous system, and generics. SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976. They offer custom manufacturing of pharmaceutical forms for several national and international pharmaceutical companies.
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Broadly, all companies implement at least some strategies to promote a continuous supply of their products and mitigate the risk of shortages and stockouts, and to ensure the quality and safety of their marketed products. If you want to find more companies that develop, manufacture, and distribute cost-effective medications you can do so with Inven. Throughclose collaboration with a network of trusted partners in development,manufacturing, and distribution, STADA consistently enriches its Genericsportfolio.
Cost-Effective Solutions
Sun Pharmaceutical Industries Limited is a Mumbai-based Indian multinational pharmaceutical firm that develops and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. Psychiatry, anti-infectives, neurology, cardiology, orthopedics, diabetology, gastroenterology, ophthalmology, nephrology, urology, dermatology, gynecology, respiratory, oncology, dental, and nutrition are among the therapeutic categories covered by the goods. Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol. Viatris has over 1,400 approved compounds across a broad spectrum of therapeutic areas, including globally renowned iconic and key brands, generics, complex generics, and biosimilars. Viatris manufactures oral solid dosages, injectable, complicated dosage forms, and APIs at roughly 50 manufacturing sites across the world. Viatris is based in Pittsburgh, Pennsylvania, with global offices in Shanghai, China, and Hyderabad, India.
- In 2023, notable additions included the anticoagulant apixaban, thediabetes medication sitagliptin, and the analgesic tapentadol.
- 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.
- Abbott’s main business is the research, development, manufacturing, and distribution of a wide range of healthcare products.
- Moreover, the FDA has taken a crucial step toward easing the entry of generic medicines into the market by introducing generic competition to the level of branded medicines known as complex drugs.
- Firstly, they have invested heavily in research and development, constantly striving to bring new and improved generic drugs to the market.
- These corporations are an integral part of global healthcare systems, catering to different therapeutic areas to help patients overcome various health conditions.
Novartis AG [Annual Revenue: USD 46.66 Billion]
The cardiovascular segment is estimated to showcase a healthy CAGR during the forecast period. CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke. Moreover, the cardiovascular segment covers more than 6% of the global generic drug market due to a series of cardiovascular drug patent expiration. In addition, global population growth and aging benefit the healthcare sector and the manufacturers of generic drugs. Hetero.com is a pharmaceutical company that specializes in the research, development, and production of high-quality and affordable medicines.
Despite initiatives to strengthen manufacturing, further efforts needed to safeguard product availability
With a strong commitment to research and development, Beximco Pharmaceuticals aims to improve the health and well-being of people globally. The global healthcare landscape has witnessed a paradigm shift, with Indian pharmaceutical companies emerging as critical players in improving healthcare access worldwide. In Africa, the African Medicines Agency (AMA) aims to enhance the continent’s pharmaceutical regulatory environment to ensure that the generic drugs supplied meet international quality standards. The AMA seeks to harmonise the disparate regulatory policies and to streamline the approval processes for generic medicines across member states. In South East Asia, Thailand has implemented the ‘National List of Essential Medicines’, which prioritises generics in government procurement and healthcare delivery, ensuring that the public healthcare system provides cost-effective treatment options.
Driving Forces Behind Generic Drug Industry Growth
The FDA generic drug program conducts a thorough review before approving the medicines to ensure they meet these requirements. 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. These medicines cost less than branded medicines as they do not involve repeated animal and clinical studies required for branded medicines. However, the issue of these medicines in certain countries is about something other than being expensive but about dubious quality.
#17 Takeda Pharmaceutical Co., Ltd
The government’s involvement is essential in facilitating the export of generic medicines through policies and laws that promote competition and ensure affordability. 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. Additionally, governmental policies aim to streamline access to generic medicines, promote their use, reduce healthcare costs, and ensure affordability for all. Generic medicines play a crucial role in bridging healthcare gaps on a global scale by providing affordable and accessible healthcare solutions. This blog post will discuss the importance of generic medicines in addressing healthcare disparities and their potential to improve health outcomes worldwide. Alkem Labs is a pharmaceutical company that specializes in cardiovascular health, dyslipidemia, and hypertension.
Spotlight on the generics industry: New analysis looks at access efforts of 5 major companies
- With a robust network of 43 manufacturingfacilities, the company delivers high-quality, cost-effective medicationstrusted by healthcare professionals and patients across more than 100 countriesworldwide.
- This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region.
- The analysis of the top companies in the Generic Drugs sub-industry has revealed some interesting findings.
- The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed.
- Their cost-effectiveness serves as a practical solution, bridging the availability gap between developed and developing nations.
- 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.
Krka is an international pharmaceutical company and one of the leading generic manufacturers worldwide. Macleods Pharma is a pharmaceutical company that offers a wide range of high-quality generic and branded drugs. With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally. The high cost of branded medicines has been a significant barrier to healthcare access, especially in developing nations.
Growth within the generic drug sub-sector will be mainly supported by increased volume consumption, driven by rising medicine demand and cost-containment measures, such as centralised drug procurement programmes encouraged by regulatory authorities. The ongoing expansion of drugs available to China’s public health insurance fund will also promote growth in generics domestically. We anticipate growth for generics in all global regions in 2024, with growth outside of China being led by the US, India, Italy and Germany in absolute value terms. The global demand for generics will continue to rise, as the global burden of disease also increases. This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region.
Novartis AG
Among the premier companies in the Generic Drugs sub-industry are ABC Pharmaceuticals, XYZ Pharmaceuticals, and PQR Healthcare. These companies have established themselves as leaders in the production and distribution of generic drugs. With their extensive product portfolios and global reach, they have gained the trust of healthcare professionals and patients alike. The pharmaceutical industry plays a critical role in the worldwide economy, providing essential medications to people around the globe.
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.
GALPHARMA is a pharmaceutical company based in Tunisia that specializes in the production of generic medications. With over 20 years of experience, GALPHARMA is dedicated to providing high-quality medications across various therapeutic classes to meet the daily needs of patients with acute and chronic illnesses. The landscape of the generic drugs industry is constantly evolving, driven by factors such as changing patent expirations, market demand, and advancements in technology. 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.
Notably,in the Generics segment, STADA introduced Sugammadex, Fampridin, and Apixabanin 2023, providing healthcare practitioners and patients with additionaltherapeutic options. In summary, generic medicines are indispensable for sustaining healthcare systems, especially in Europe where costs are rising. Generic medicine suppliers play a vital role in reducing expenses, enhancing access to essential treatments, and bridging global healthcare gaps.
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.
The industry is also witnessing advancements in manufacturing techniques and the introduction of biosimilar products, further contributing to its growth. Is a global pharmaceutical company and a key player in the generic drug market which was founded in 1961. With several thousand drugs, including generics, biosimilars, and over-the-counter products, the company offers a wide range of healthcare options. With 40 manufacturing facilities, Mylan produces complex dosage forms, injectables, solid dosages, and active pharmaceutical ingredients, along with an industry-leading pipeline that includes several complex generics and global key brands. As a result of strong collaborations with several partners, Mylan is able to produce high-quality generic drugs and biosimilars at a lower price.
- The generic pharmaceuticals industry is a sector that focuses on the development, manufacture, and sale of generic drugs.
- The journey of Indian pharmaceutical companies exemplifies a synergistic blend of economic viability and social responsibility, positioning them as true leaders in the pursuit of global health equity.
- Eli Lilly and Company, founded in 1876, is a global pharmaceutical leader headquartered in Indianapolis, USA.
- The Diagnostic Products segment contains a diverse range of diagnostic systems and tests that are produced, marketed, and sold around the world.
- They work closely with healthcare professionals to understand their needs and offer support programs for better patient management.
- Technological advancements such as biosimilar development and Artificial Intelligence (AI) are enhancing generic drug manufacturing processes, while partnerships between pharmaceutical companies, like CytoReason and Pfizer, are driving innovation.
Initiatives, such as the Access to Medicine Foundation’s work, aim to mobilize generic medicine manufacturers, ensuring greater access to generic 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. They boast a diverse portfolio of over 1,400 molecules and maintain a strong presence in over 160 countries. Viatris’ focus on affordability and accessibility aligns well with the growing demand for generic drugs worldwide.
Sandozboasts a diverse global portfolio comprising approximately 1,500 high-qualitybiosimilar and generic medications. Annually, it delivers over 800 milliontreatments to patients, resulting in over USD 18 billion in direct savingsacross the US and Europe. This not only enhances healthcare accessibility butalso facilitates resource allocation, leading to an estimated annual socialimpact of around USD 400 billion worldwide.
Biodeal is a manufacturer of generic drugs, specializing in the production of tablets, capsules, creams, ointments, syrups, suspensions, veterinary products, and disinfectants. With advanced manufacturing equipment, cutting-edge instrumentation, and state-of-the-art laboratories, Biodeal ensures the highest quality in drug manufacturing. One unexpected finding from the investigation is the increasing competition among the top companies. Despite the dominance of a few major players, smaller companies are also making their mark in the generic drugs market. This indicates a dynamic and evolving landscape, with room for new entrants and innovative approaches.
Generic medicines play a vital role in enhancing healthcare accessibility, particularly in low- and middle-income countries where financial constraints hinder access to essential treatments. Their cost-effectiveness serves as a practical solution, bridging the availability gap between developed and developing nations. Additionally, by enabling broader production and distribution, generic drugs help alleviate medicine scarcity in underserved regions, contributing significantly to global health equity and addressing healthcare disparities worldwide. The quality issues of generic drugs are another significant challenge to the global market growth. To get approval from the Food and Drug Administration (FDA), generic medicines should be demonstrated to be the same as brand-name medicines in dosage, effectiveness, strength, safety, quality, stability, and how they are taken.
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.
