Product ID: UCMIG35I2163
Report ID:
UCMIG35I2163 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2022, the global generic pharmaceuticals market reached a significant valuation of USD 361.7 billion. Experts predict that this market is poised for further growth, with a projected compound annual growth rate (CAGR) of 8.3% between 2023 and 2030. This anticipated expansion can be attributed to several factors, including the increasing demand for affordable healthcare solutions, patent expirations of brand-name drugs, and the rising prevalence of chronic diseases worldwide. Generic pharmaceuticals play a crucial role in providing cost-effective alternatives to branded medications, making healthcare more accessible and affordable for a larger population. The steady growth of this market highlights the importance and potential of generic drugs in addressing global healthcare needs.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Pharmaceuticals by segment aggregation, the contribution of the Pharmaceuticals in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG35I2163