Chronic diseases necessitate long-term therapy and marketed medications are prohibitively costly. 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.

Intas Pharmaceuticals

With a global presence in markets such as Africa, Philippines, and Kazakhstan, Alkem Labs aims to provide innovative healthcare solutions through their technologically advanced research facilities. Neo Química is a pharmaceutical company that offers a wide range of generic medicines and healthcare products. Another prominent Indian pharmaceutical company, Dr. Reddy’s Laboratories is a leading player in the global generics market.

Abbott [Annual Revenue: USD 40.108 Billion]

Sun Pharma, based in India, is among the largest and most influential generic drug manufacturers globally. The company has a strong presence in various therapeutic segments and operates in numerous countries. Abbott Laboratories is a worldwide medical device and healthcare corporation based in Abbott Park, Illinois, United Regións. Abbott’s main business is the research, development, manufacturing, and distribution of a wide range of healthcare products. Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices are the four reportable segments for Abbott.

MARKET RESTRAINTS

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.

#3 Novartis AG

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.

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• In addition, the patent expiration of several blockbuster drugs is anticipated to boost the segment’s growth rate.
• With a history dating back to 1931, Baxter has earned recognition for its commitment to quality, innovation, and affordability.
• The generic pharmaceuticals industry is a sector that focuses on the development, manufacture, and sale of generic drugs.
• Among the five companies, a handful of initiatives to bolster local manufacturing capacity in LMICs or facilitate technology transfer to local partners could be identified.

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. Aurobindohas garnered approvals for sophisticated injectable suspension products,including generic versions of Kenalog®, Depot-Medrol®, and Depo-Provera®,typically characterized by an extended duration of action lasting up to severalweeks. 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.

Mylan N.V. [Annual Revenue: USD 11.5 Billion]

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. Avet Pharmaceuticals Inc. is a pharmaceutical company that specializes in the production and distribution of various medications, including tablets, capsules, and injectables.

Want to find more generic pharmaceutical companies?

Her mission to educate business owners in all aspects of market analysis flows through the expert industry coverage she provides. When not writing or editing files, you will find her sketching, exploring heritage and historic places, or cooking. In2023, the company inaugurated its upgraded penicillin production facility, apivotal category within the global antibiotics market, in collaboration withthe Austrian government. The investment in Kundl, Austria, not only enhancesthe company’s industrial footprint in Europe but also underscores itsdedication to environmental stewardship. It further underscores the company’saspiration to be recognized as the foremost global leader in biosimilars andgenerics, valued for its commitment and excellence. Among the five companies, a handful of initiatives to bolster local manufacturing capacity in LMICs or facilitate technology transfer to local partners could be identified.

Biodeal Laboratories Limited

• These include products specifically adapted for children; products adapted so that they do not require refrigeration; and formulations that simplify dosing regimens.
• Aurobindo Pharma has established itself as a significant player in the global generic drug market with a substantial presence in critical markets worldwide, including the United Regións and Europe.
• The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal.
• With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years.
• The industry is constantly evolving, driven by advancements in technology, increasing demand for affordable medications, and government policies aimed at promoting generic drug use.
• Any comments or data included in the report are solely derived from BMI and independent sources.
• They offer custom manufacturing of pharmaceutical forms for several national and international pharmaceutical companies.

Almatica’s Gralise (gabapentin) is a medication primarily used to treat epilepsy and neuropathic pain, with patent set to expire in early 2024. Gabapentin is already available in other generic forms, but the specific release characteristics and dosing regimen of Gralise are protected by patents. Once these patents expire and if any market exclusivity periods have lapsed, other companies can produce generic versions of this particular formulation, potentially leading to price reductions and increased accessibility for patients. The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans. We expect a positive impact for both patients and healthcare providers, as the lower cost could facilitate treatment adherence and reduce the financial burden on individuals and insurance systems. China will retain the largest proportion of generic drug sales through to 2030, at around 70% of the APAC region.

Teva Pharmaceutical Industries Ltd. [Annual Revenue: USD 16.3 Billion]

They offer a wide range of products such as Mycophenolate Mofetil, Propofol Injectable Emulsion, and Octreotide Acetate. Avet Pharma aims to provide high-quality medications to patients, ensuring their safety and well-being. They specialize in pharmaceutical trading, contract development and manufacturing, and pharmacovigilance.

• Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community.
• With over 24,000 employees and presence in 155 countries, we strive to make affordable and accessible medicines available to everyone.
• Our Generic Formulations business addresses this urgent need by offering more than 200 high-quality generic versions of expensive innovator medicines—at a fraction of the cost—in over 20  countries around the world.
• The company values privacy and adheres to policies to ensure the security of their customers’ personal data.
• By March 2023, it had onboarded over 135,000retailers, facilitating enhanced market outreach and accessibility.
• This cost-effectiveness is a boon for developing countries and healthcare systems in developed nations striving to contain rising healthcare expenditures.

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. 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.

• 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.
• However, concerns persist regarding quality and safety, stemming from regulatory challenges and limited transparency in manufacturing processes, which may hinder market growth.
• The generic drug production industry encompasses companies that focus on the manufacturing and distribution of generic medications.
• STADAstands out as a premier producer of top-tier pharmaceuticals, boasting a legacydeeply rooted in pharmacy traditions that spans over 125 years.

Sun Pharma

Novartis AG is a Swiss pharmaceutical giant formed in 1996 through the merger of Ciba-Geigy and Sandoz, boasting a rich history in the industry. Its subsidiary Sandoz is a key player in the generic drug market, offering a diverse range of affordable pharmaceuticals across therapeutic areas. Novartis prioritizes innovation, quality, and accessibility, evident in its imbruvica cost mexico global reach, philanthropic efforts, and commitment to improving healthcare worldwide. The Indian pharmaceutical industry has invested significantly in research and development (R&D) activities, creating innovative generic drugs. This focus on innovation has resulted in the development of complex generics and biosimilars, addressing unmet medical needs globally.

Ampliaring Access to Medicines: The Role of Generics in Emerging Markets

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.

Educating stakeholders on their benefits is crucial, and the generics industry holds a central position in improving access globally. Grupo NC is a Brazilian pharmaceutical company that specializes in the production and distribution of generic medications. In 2024, we expect key pharmaceutical companies to see patent expiries for their drugs, which will cause reduced revenue and an increase in generic manufacturing of these drugs and more competition. Notable drugs that are open to generic competition in 2024 include Novo Nordisk’s Victoza (liraglutide), an anti-diabetic medication used to treat type 2 diabetes (T2D) and chronic obesity. Liraglutide is a glucagon-like peptide-1 (GLP-1) agonist, which has recently become a highly sought-after class of drug, with much media attention. Victoza is not approved for weight management, the aspect of GLP-1 that is recently of interest, nor will Victoza likely gain approval for such an indication based on its existing clinical trial results.

Products

Prioritizing long-term sustainability in business models ensures the widespread availability of essential treatments. Generics stand as pillars of global health, addressing challenges and fostering innovation for a more inclusive and sustainable healthcare future worldwide. 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. In many emerging markets, our products are available under a brand name, such as Omez (Omeprazole), Nise (Nimesulide),Ketorol (Ketorolac Thromethamine), Stamlo (Amlodipine Besylate), Razo (Rabeprazole), among many others.

#3 Novartis AG

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.