According to the latest report by IMARC Group, titled “US Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the US generic drug market reached a value of US$ 83.2 Billion in 2021. Generic drugs refer to bioequivalents of brand name drugs which offer identical pharmacological effects in terms of risk, dosage, safety, side-effect, intended use and route of administration. They are available at low rates as their manufacturing requires minimal resources for drug approval, research, promotion and packaging. Currently, a rise in the demand for generic drugs has been witnessed in the United States owing to the prevalence of chronic diseases, reducing life expectancy, high mortality rates and aging population in the region. Additionally, the Government is emphasizing on the use of generics as they assist in reducing the overall healthcare expenditure in the country. It has also established the Office of Generic Drugs (OGD) to ensure that people have easy access to safe and affordable drugs.

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Market Trends:

Since decades, the US population has been dependent on fast food, frozen items and packaged food products that are high in calories and sodium. This trend can be accredited to the easy availability of these products, long working hours, high per capita income and expanding fast-food chains. These factors, coupled with the sedentary lifestyle led by the population, have increased the cases of heart diseases, cancer, diabetes, obesity, and Alzheimer’s and Parkinson’s disease, thereby creating a strong demand for generic drugs. Moreover, the Government is promoting the uptake of these drugs as a cost-containment measure which is providing a thrust to the generics market. Further, several branded drugs are anticipated to lose their patent protection in the upcoming years which is expected to offer remunerative opportunities to the generic drugs manufacturers. Looking forward, IMARC Group expects the market to reach US$ 105.7 Billion by 2027, exhibiting a CAGR of 3.9% during 2022-2027.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the US generic drug market, along with forecasts at the global level and for the United States from 2022-2027. Our report has categorized the market based on segment, therapy area, drug delivery and distribution channel.

Competitive Landscape:

  • Teva
  • Mylan
  • Actavis (Teva)
  • Sandoz (Novartis)
  • Sun Pharma
  • Par Pharmaceuticals (Endo Pharmaceuticals)
  • Lupin Pharmaceuticals
  • Dr Reddy’s
  • Hospira (Pfizer)

Breakup by Segment:

  • Unbranded
  • Branded

Breakup by Therapy Area:

  • CNS
  • Cardiovascular
  • Dermatology
  • Genitourinary/Hormonal
  • Respiratory
  • Rheumatology
  • Diabetes
  • Oncology
  • Others

Breakup by Drug Delivery:

  • Oral
  • Injectables
  • Dermal/Topical
  • Inhalers

Breakup by Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies

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Key highlights of the report:                                                           

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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