Irving, Texas (PRWEB) November 28, 2012
The global generic drugs industry, which experienced solid growth over the last five years, is expected to continue its momentum to reach an estimated $335 billion in 2017 with a CAGR of 6.5% over the next five years. Increasing government efforts to reduce healthcare costs, patent expirations of blockbuster drugs, and rising incidence of chronic diseases are expected to drive the demand for generic drugs during the forecast period.
Lucintel, a leading global management consulting and market research firm, has analyzed the global generic drugs industry and presents its findings in “Global Generic Drugs Industry 2012-2017: Trend, Profit, and Forecast Analysis.”
The industry comprises firms primarily engaged in the development, manufacture, and marketing of generic drugs. The generic segment includes generic drugs from all therapeutic areas including central nervous system drugs, cardiovascular drugs, oncology drugs, and all such generic drugs. The industry is fragmented and affected by government regulations in different regions and countries.
As the study indicates, cost effectiveness and increasing awareness have increased the demand for generic drugs. Stringent regulatory approval processes, price control measures for generic drugs, and increasing export barriers are some of the challenges for the industry.
Asia Pacific (APAC) is forecast to witness the highest growth over 2012-2017 and North America will remain the largest market during forecast period. Transformation in the healthcare sector and desire to control costs are anticipated to boost generic drugs use in North America.
Lucintel’s study provides an overview of the global generic drugs industry and tracks industry performance in four geographic regions. The market research report studies manufacturers and distributors of generic drugs, providing a five-year annual trend analysis that highlights market size, profit and cost structure for North America, Europe, APAC, and the Rest of the World. The report also provides a forecast, addressing market opportunities for each of these regions.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at [email protected] provides cutting-edge decision support services Target Screening / Merger & Acquisition that facilitate critical decisions with greater speed, insight, and cost efficiency.
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