The Business Research Company’s Generic Pharmaceuticals Market 2022 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, July 1, 2022 /EINPresswire.com/ — Generic pharmaceutical companies are increasingly using biomarkers in the drug development process to reduce the time taken to bring the product into the market. Biomarkers are biological indicators that are objectively measured and evaluated for biological processes, pathogenic processes, or pharmacological responses to a therapeutic intervention. According to the generic pharmaceuticals market analysis, they are helpful to predict the drug efficacy faster than conventional clinical endpoints, the point at which an undesired or abnormal effect of the drug is observed indicating withdrawal from therapy. Companies in this market are investing in the development of biomarkers for use in various activities such as tracking drug activity, studying pharmacodynamics (relationship between the drug concentration at the site of action and the biochemical and physiological effect) of drugs, and studying diseases and treatment pathways.
The rising incidence of chronic diseases is one of the major drivers of the generic pharmaceuticals market growth. As more individuals are diagnosed with chronic diseases, they look for more medicines for treatment. Branded drugs come at a premium price, while generic drugs are available at a lower cost having the same chemical composition as branded drugs. The low cost and same chemical composition and strength of generic drugs make a patient buy generic drugs instead of branded drugs. If it is a chronic disease, the treatment goes on for a longer period, and hence, the sales of generic drugs also increase.
Read more on the Global Generic Pharmaceuticals Market Report
The global generic pharmaceuticals market size reached a value of nearly $185.98 billion in 2020 to $258.16 billion in 2025 at a rate of 6.8%. The global generic pharmaceuticals market share is then expected to grow at a CAGR of 7.4% from 2025 and reach $369.15 billion in 2030.
Major players covered in the global generic pharmaceuticals industry are Teva Pharmaceutical Industries Ltd., Novartis AG, Sun Pharmaceutical Industries Ltd., Fresenius Kabi, Aurobindo Pharma Limited.
North America was the largest region in the global generic pharmaceuticals market, accounting for 48.3% of the total in 2020. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the global generic pharmaceuticals market will be South America and Middle East, where growth will be at CAGRs of 10.1% and 9.4% respectively during 2020-2025.
TBRC’s generic pharmaceuticals market report is segmented by therapy into CNS, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, oncology, biosimilars, others, by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies, by type into biosimilar, generics, by drug delivery into oral, injectables, dermal/topical, inhaled.
Generic Pharmaceuticals Market 2022 – By Therapy (CNS, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, Biosimilars), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, And Online Pharmacies), By Type (Biosimilars, Generics), By Drug Delivery (Oral, Injectables, Dermal/Topical, Inhaled), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides a generic pharmaceuticals global market overview, forecast generic pharmaceuticals global market size and growth for the whole market, generic pharmaceuticals market segments, geographies, generic pharmaceuticals market trends, generic pharmaceuticals market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Article originally published on www.einpresswire.com as Generic Pharmaceuticals Market Players Invest In Biomarkers To Improve The Drug Development Process
originally published at World News - 195News