February 27, 2017
Wellesley, Mass., Feb 27, 2017 – New proprietary research by BCC Research predicts the global generics market to reach $533 billion from 2016-2021, driven by pharmaceutical drugs facing patent expiry, the pressure to control healthcare costs, the rise of biosimilar drug technologies, and high-growth market activity in emerging regions.
BCC Research's Global Market for Generic Drugs reports thegenerics sector, which has consistently outperformed sales in the original brand market for the past five years, appears set for continued double-digit growth as cost containment efforts intensify and many of the great blockbusters mature and go off patent.
"The generic drug markets in the BRIC region are taking off, as evidenced by the region's leading 10.7% CAGR from 2016-2021," notes Kevin Fitzgerald, BCC Research Editorial Director. "In China, generic sales are easily outpacing the overall pharma market growth. The increasing sophistication among domestic producers seems to be galvanizing the growth of generics."
Patent Protection Loss is Generics Gain
The value of small-molecule products facing loss of patent expiry in developed markets from 2014 to 2018 is estimated at $121 billion, compared to $154 billion from 2009 to 2013.
"The price of a generic copy may be around 60% of the original brand immediately after patent loss, while after a year, when several generic copies have appeared, the average price may have fallen to less than 20% of the original," says Fitzgerald. "BCC Research predicts the global generics market will capitalize as name drugs fall off, and continue to grow at an annual rate significantly higher than the pharmaceutical sector overall."
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Global Markets for Generic Drugs( PHM009H )
Publish Date: Feb 2017
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