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The Business Research Company Global Generic Pharmaceuticals Market Report 2021: Growth and Evolution of COVID-19 to 2030
LONDON, GREATER LONDON, United Kingdom, August 6, 2021 /EINPresswire.com/ – According to the new ‘Generic Pharmaceuticals Global Market Report 2021: COVID-19 Growth And Change To 2030’ market research report released by The Business Research Company, the generic drug market is expected to grow from $ 233.66 billion in 2020 to $ 245.6 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The growth is primarily driven by businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The generic pharmaceuticals market is expected to reach $ 331.54 billion in 2025 at a CAGR of 7.8%. One of the main drivers of the generic drug market is the growing incidence of chronic disease.
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The generic pharmaceuticals market includes sales of generic pharmaceuticals. A generic drug is a drug designed to be identical to brand name drugs marketed by private companies in dosage form, strength, safety, route of administration, performance characteristics, quality and use. planned. Generic drugs work the same as brand name drugs in terms of clinical benefits. Generic drugs are manufactured after the exclusive rights or patent for brand name drugs expire. For example, some of the generic drugs in the generic pharmaceutical market include metformin, metoprolol, acarbose, acebutolol, aztreonam, and many more.
Global Generic Pharmaceuticals Market Trends
3D printing technology has the ability to transform drug manufacturing in the generic pharmaceutical market. 3D printed pharmaceuticals help improve R&D productivity and provide new benefits to patients. 3D printing allows the manufacturer to produce drugs with a custom size, shape and texture, which is not possible in traditional generic drug manufacturing. 3D printing can help the manufacturer make generic drugs that have different release dates, looks and tastes. For example, GlaxoSmithKline (GSK) completed a study where ultraviolet (UV) and 3D printing was used to make tablets to treat Parkinson’s disease. Martin Wallace, director of GSK Technology, said GSK is investing in the benefits of 3D printing to make pills and tablets. In addition, the pharmaceutical company Aprecia has launched the “ZipDose†technology which manufactures 3D printed drugs.
Global generic pharmaceutical market segments:
The global generic pharmaceutical market is further segmented on the basis of therapy, distribution channel, type, drug administration, and geography.
By therapy: CNS, cardiovascular, dermatology, genitourinary / hormonal, respiratory, rheumatology, diabetes, oncology
By distribution channel: hospital pharmacies, retail pharmacies, online pharmacies
By type: biosimilar, single generic, super generic
By drug administration: oral, injectable, dermal / topical, inhaler
By Geography: The global generic pharmaceutical market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa.
Learn more about the Global Generic Drugs Market Report at:
https://www.thebusinessresearchcompany.com/report/generic-pharmaceuticals-global-market-report
Generic Pharmaceuticals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides global Generic Pharmaceuticals market overviews, analysis and forecast on market size and growth for the global Generic Pharmaceuticals market. Generic Pharmaceuticals, Global Generic Pharmaceuticals Market Share, Global Generic Pharmaceuticals Market Players, Global Generic Drugs Market Segments and Geographies, Revenue, Profiles and Market Share of Major Competitors of Generic Drugs Market. The Global Generic Pharmaceuticals Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read the 2021 Global Generic Pharmaceuticals Market Report from The Business Research Company for insight into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Generic Pharmaceuticals Market Organizations Covered: Teva Pharmaceuticals, Mylan NV, Sandoz International GmbH, Hospira (Pfizer Inc.) and Sun Pharmaceutical.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 in various markets. Here is a list of reports from The Business Research Company similar to Generic Pharmaceuticals Global Market Report 2021:
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