The increasing application of robotic process automation, branded medicine patent expiries and the rising prevalence of chronic diseases are expected to make the global generics drug market to reach $574.63 billion by 2030. According to Precedence Research, the global generic drugs market was worth $390.57 billion in 2020 and is projected to reach approximately $574.63 billion by 2030, attaining a compound annual growth rate (CAGR) of 5.59 percent between 2021 and 2030. A generic drug is ‘created to be the same as an existing approved brand-name drug in dosage form, safety, strength, method of administration, quality, and performance characteristics’, according to the US Food and Drug Administration (FDA).
Generic drugs work in the same way as branded drugs in terms of clinical benefits. Generic drugs are manufactured after the expiration of the exclusive rights or patent of the branded drugs. For example, some of the generic drugs in the generic pharmaceuticals market include metformin, metoprolol, acarbose, acebutolol, aztreonam and many more.
After a drug’s patent expires, the cost savings associated with generic use do not appear right away. Generic medications, like branded drugs, require generic market competition before costs decline; two to three years after losing exclusivity protection, generic drug prices typically fall by 60–70 percent relative to their branded counterparts. The rising...
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 | Aurobindo Pharma | An Indian pharmaceutical company that is specialised in manufacturing generic pharmaceuticals with itskey focous on neurosciences, cardiovascular, antiretrovirals,antidiabetics and gastroenterology |
 | Biocon | A global biopharmaceutical company able to ensure thateveryone, everywhere get access to affordable qualitymedicines |
 | Cipla Pharmaceutical | Constantly work towards ensuring access to high qualityand affordable medicines to support patients in need |
 | Dr. Reddy's Laboratories | An integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. |
 | Glenmark Pharmaceuticals | An Indian multinational pharmaceutical company headquartered in Mumbai committed to enriching lives worldwide |
 | Lupin | To achieve it's determined objective, it has invested in research, continuous learning and technology to develop high quality and affordable medicines to address unmet patient |
 | Piramal | In the three decades of its existence it become a globalbusiness conglomerate with diverse interests in Pharma |
 | Pristine Pearl | Combining domain expertise and robust managementskills, Pristine Pearl offers a wide range of high-qualitygeneric and branded formulations at affordable prices |
 | Sun Pharma | The world's fourth largest specialty generic pharmaceutical company and No.1 in India, provides high-quality, affordable medicines trusted by customers and patients in over 100 countries |
 | Torrent Pharmaceuticals | Pioneers in initiating the concept of niche marketing in India and today is ranked amongst the leaders in therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI) and women healthcare (WHC) |
