Global Generic Drugs Market Size, Share & Trends Analysis Report by Type (super Generic drugs, Biosimilar), Application (Anti-infective, Cardiovascular, Diabetes, Oncology) and Region, By End-use, And Segment Forecast Period – 2022 – 2028

Report ID - MRC_308 | Pages - 354 | Category - Healthcare and Pharma

Global Generic Drugs Market Insights

The Global Generic Drugs Market was evaluated USD 465.96 million in 2021 and is expected to rise with a CAGR of 5.5% from 2022- 2028 during the forecast period. Generic medicine works in the similar way as branded medicine with respect to strength, effect, form, quality, administration, dosage and safety with FDA approval for prescription and consumption. 80% of pharmaceutical medications are composed of generic medicine, an alternative to costly branded drugs. FDA conduct a rigorous review to ensure generic medicines meet certain standards, it may vary in colour, shape, and packaging. Diseases like cancer, diabetes, AIDS, cardiovascular disease have huge demand in the market the market.

Globally, cardiovascular disease is the largest disease predominating that accounts for 15% of all the diseases, as per Institute for Health Metrics and Evaluation (IHME). According to Crohn’s & Colitis Foundation of America (CCFA), predominance of Asthma has also been high in regions such as Asia and United states. In America there are 1.6 million people suffering from inflammatory bowel disease (IBD) which contributes to the highest number of patients globally. These genetic and infectious disease prevalence will increase the consumption of generic drugs in the long term as generics have the same dosage, effects, and side effects, safety, and strength as the original drug. Increasing knowledge about the cost difference, despite providing same benefit, along with the global prevalence of diseases will increase the consumption of various generic drugs in the upcoming years.

After rapid population explosion, Medical and healthcare have been a top priority for various developing nations. This is driving factor in increased consumption of various generic drugs. According to Oxford Business Group, regionally, the Philippines is the third-largest pharmaceuticals market among ASEAN states, just after Indonesia and Thailand. Following the government’s decision to alter the National Health Insurance Act, making it essential for all Filipinos to be insured by PhilHealth, the national insurance authority, the pharmaceutical business has been impacted by increased overall demand for pharmaceuticals.

Increasing government initiatives in various nations such as Pradhan Mantri Bhartiya Janaushadhi Pariyojana, PhilHealth, Seguro Popular de Salud (SPS), and others will boost the market of generic drugs in various developing nations in the upcoming years.

COVID-19 Analysis of Global Generic Drugs Market

Generic drugs market has a direct impact caused by variable in demand owing to disruption in supply chain. In 2020, Covid-19 impacted the overall medical supplies market severely and different segments of the market experience wide-ranging effects. Medical supply markets that are imperative to supplying medicines for treatment of Covid-19 and associated diseases, such as cardiovascular, normal fever, cold, and others experienced a surge in sales to fulfil the overwhelming demand. However, the pandemic caused in terminations of elective procedures, along with less prescription medicines. From March to April 2020, Manufacturers focusing on supply of raw materials for manufacturing of generic drugs were extensively impacted financially during the worst-hit months of the pandemic. In addition, to contain the COVID-19 outbreak, the government announced a lockdown in several countries in the first half of the year. This resulted in a temporary closure of doctor clinics, reduction inpatient consultations, postponement of non-critical treatments including elective surgeries and restrictions in the movement of the medical representatives. As per AIOCD AWACS data for the 12 months ended March-2021, average industry growth was 2.1% with acute and semi-chronic segments getting impacted due to lockdown restrictions.

The post-Covid market for generic drugs has the potential to grow during the forecast period. For instance, during September 2020, under policy development policies, UK government has announced that would offer USD 178 million of funding to local players for the modernization of manufacturing plants. The funding is anticipated to boost the production capacity of manufacturing plants with a rise in capacity by 30% during the coming years.

Therefore, the aid being provided to various industries is anticipated to give a boost to the medical industry thus providing a growth opportunity for generic drugs market. Additionally, the delay in approvals, from regulatory authorities, witnessed during COVID-19 restrictions will ease up and more products can be found entering the market. Furthermore, the demand for prescription medicines can also be anticipated to become above average, considering the complications faced by most recovering COVID patients. Such factors will further boost the demand for generic medicines.

Global Generic Drugs Market Report Coverage

Global Generic Drugs Market is bifurcated by type, Application, and Region. By type the market is bifurcated into Simple Generic Drugs, Super Generic drugs, Biosimilar, and Others. By Application, the market is segmented Anti-infective, Cardiovascular, Central Nervous System, Diabetes, Oncology, Respiratory, and Rheumatology. The report also covers the market size and forecasts for the Global Generic Drugs Market in 22 countries across major regions.

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028USD 507.76 Billion
CAGR (2022-2028)5.5%
By TypeSimple Generic Drugs, Super Generic drugs, Biosimilar, Others
By geographyNorth America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

Global Generic Drugs Market Segmental Analysis

Market Research Community provides extensive analysis of the size, share , major trends in each sub-segment of the Global Generic Drugs Market, along with forecasts at the global, regional and country level from 2022-2028.

The Simple Generic Drugs Type Holds the Major Share 

The Simple Generic Drugs segment accounted for a market revenue USD 385.73 Billion during the year 2021 of the Generic Drugs in the Global Generic Drugs Market. This segment is anticipated to grow at a CAGR of 4.4% during the forecast period to reach USD 507.76 billion by 2028.  Simple Generic Drug contains the same chemical substance as brand-name medicines, originally protected by the patents.

Global Generic Drugs Market Revenue (USD Billion), by Simple Generic Drugs, 2016-2028

They are typically sold at immense discounts, which are estimated 80 to 85% less than the price of the brand-name medicine. Therefore, generic drugs find substantial use in the government hospitals & clinics and pharmacy, which is one of the driving factors for growing generic drug in developing nation.

Cardiovascular Diseases are Expected to Fuel the Growth of in the Global Generic Drugs Market

Cardiovascular diseases accounted for a market revenue of USD 112.10 Billion in 2021 in the Global Generic Drugs Market. This segment is anticipated to grow at a CAGR of 6.2% during the forecast period.

Cardiovascular diseases (CVDs) are a group of heart disorders and blood vessels. Coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, deep vein thrombosis and pulmonary embolism are included in the cardiovascular segment.

Low and middle-income nations account for at least three-quarters of all CVD deaths worldwide. Since primary health care programs are less exposed to their requirements, they are less prone to receive early diagnosis. As a result, late detection of disease and people die at a younger age from CVDs. This is probable to increase the demand for CVD generic drugs in the market owing to their fewer expenses and affordable treatment options. Hence, increasing prevalence of cardiovascular diseases is expected to fuel the growth of the generic drugs market in the forecast period. 

Global Generic Drugs Market Revenue (USD Million), by Cardiovascular, 2016-2028

U.S. Dominates the Market of Global Generic Drugs Market

North America region is experiencing a rise in number of diseases during past decade. It has been witnessed that most of population is getting affected with number of infections and diseases along with increased in prices for prescribed drugs.

The U.S. accounted for a market revenue of USD 141.40 USD Billion during the year 2021 of the Global Generic Drugs Market. This segment is expected to grow at a CAGR of 4.3% during the forecast period to reach USD 185.34 billion by 2028.

U.S. Global Generic Drugs Market Revenue (USD Million), 2016-2028

Diabetes cases has raised over the year owing to sedentary lifestyle among individuals and lack of proper diet has further worsen the situation. With a rise in price of insulin within the region by an approximate 450% during these years have made it much difficult for the diabetic persons to afford these medicines (Source- Washington State, Department of Health).

As per Office of Generic Drugs (OGD) in the Centre for Drug Evaluation and Research (CDER) of the U.S. Food and Drug Administration (FDA), access of affordable medicines is a foremost priority. In addition, this approach is providing an opportunity for the players to adopt new technologies in the manufacturing of generic drugs that will ultimately reduce the prices of generic drugs. As of 2021, it is projected that 9 out of 10 prescriptions in the United States are filled by generic drugs.

Global Generic Drugs Market Competitive Landscape

Global Generic Drugs Market study is highly competitive, with a considerable number of global and regional players. The key strategies adopted by these firms product innovations, include expansions, and mergers and acquisitions. The market is anticipated to be highly fragmented.

Key Players

  • Sun Pharmaceutical
  • Viatris Inc.
  • Teva Pharmaceutical Industries Ltd.
  • Pfizer Inc.
  • Novartis AG
  • Fresenius SE & Co. KGaA
  • Aurobindo Pharma Limited
  • Lupin Ltd.
  • Cipla Inc.
  • Aspen Holdings
  • Apotex Inc.
  • Reddy’s Laboratories
  • Sawai Pharmaceutical Co., Ltd.
  • Hikma Pharmaceuticals PLC
  • Zydus Lifesciences Ltd.

An advanced supply-demand gap is anticipated to be low due to presence of large number of suppliers for most generic drugs in Global Generic Drugs Market. The industry has five large players dominating small fraction of the market who corresponds to hold around 9% market share. The market strategies adopted by players is expected to be high since all players try to dominate one another.

Recent Developments

2022 – Novartis, launches generic lenalidomide in 19 countries across Europe, broadening to essential oncology medicine. As the cost of medication to multiple patients of myeloma is high and continues to rise. Costliness of an entrance to new multiple myeloma treatments pose is challenging around the world. Therefore, low price from Lenalidomide Sandoz provides treatment options for multiple myeloma patients.

2021 – Sandoz completes owning of GSK’s cephalosporin business, supporting leading global position in antibiotics, including global brand Zinnat, felicitate Sandoz leadership in generic penicillin with leading position in cephalosporin.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Product Picture of Generic Drug Market
    • Global Generic Drug Market Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief:
    • Parent Market Overview
    • Overall Generic Drug Market Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews:
    • Average primary breakdown ratio
  2. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
    • Opportunity
      • Impact forces on market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Distribution Channel
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Technology Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor
    • Covid-19 impact on Global Economy
    • Covid-19 impact on Generic Drug Market demand
    • Post-Covid Impact on Generic Drug Market Market Demand
    • Impact Analysis of Russia-Ukraine Conflict
  3. Global Generic Drug Market Market Segmentation, by Volume (Kilo Tons) & Revenue (USD Billion), (2022-2030)
    • By Type
      • Simple Generic Drugs
      • Super Generic drugs
      • Biosimilar
      • Others
  1. Global Generic Drug Market Market Overview, By Region
    • North America Generic Drug Market Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
      • US
        • By Type
      • Canada
      • Mexico
    • Europe Generic Drug Market Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
      • France
      • UK
      • Spain
      • Russia
      • Italy
      • BENELUX
    • Asia Pacific Generic Drug Market Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
      • China
      • Japan
      • Australia
      • South Korea
      • India
      • ASEAN
  1. Latin America Generic Drug Market Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
    • Brazil
    • Argentina
    • Chile
  2. Middle East and Africa Generic Drug Market Market Volume (Kilo Tons) & Revenue (USD Billion), by Countries, (2022-2030)
    • GCC
    • Turkey
    • South Africa
  3. Global Generic Drug Market Market Revenue: Competitive Analysis, 2021
    • Key strategies by players
    • Revenue (USD Billion and %), By manufacturers, 2021
    • Player Positioning by Market Players, 2021
  4. Competitive Analysis
    • Sun Pharmaceutical
      • Business Overview
      • Business Financials (USD Million)
      • Product Category, Type, and Specification
      • Main Business/Business Overview
      • Geographical Analysis
      • Recent Development
      • Swot Analysis
    • Viatris Inc.
    • Teva Pharmaceutical Industries Ltd.
    • Pfizer Inc.
    • Novartis AG
    • Fresenius SE & Co. KGaA
    • Aurobindo Pharma Limited
    • Lupin Ltd.
    • Cipla Inc.
    • Aspen Holdings
    • Apotex Inc.
    • Reddy’s Laboratories
    • Sawai Pharmaceutical Co., Ltd.
    • Hikma Pharmaceuticals PLC
    • Zydus Lifesciences Ltd.
  1. Market Research Findings & Conclusion


Research Methodology

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Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.
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