Irving, TX (PRWEB) January 13, 2013
Increased per capita income and GDP with more government support, rising numbers of patent expirations of branded drugs, and changing demographics are expected to drive the global generic drugs industry in 2012-2017. The global generic drugs industry is expected to register good growth and reach an estimated $335.8 billion in 2017 with a CAGR of 6.5% over the next five years.
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.”
Asia Pacific (APAC) emerged as the region depicting the most growth potential during 2006-2011, driven by low purchasing power parity and increasing demand for low-cost generic drugs. Growth in middle class population, changing demographic profile, increase in medical insurance, expanding economy, and increasing GDP per capita are expected to provide enormous opportunity for generic drug companies in the APAC region.
India is expected to become one of the major suppliers of generic drugs. Increasing population and number of aging patients will continue to fuel the growth of generic drugs. The increasing focus on the Asian market by Indian drug makers is anticipated to boost the generic drugs market. Transformation in the healthcare sector is forecast to be a boon to generic drug sales in North America. US healthcare spending is estimated to reach 19.3% of the country's GDP by 2019.
The challenges for the generic drugs industry include increasing global competitiveness that will drive the introduction of more effective generic drugs that are safer and have more efficacy for the patients, additional ease of deliverability, and growing patient comfort with generic drugs.
This medical research report provides an overview of the global generic drugs industry The 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 helpdesk (at) lucintel (dot) com. Lucintel offers a broad range of industry research reports, market research reports, and management consulting services.