IMARC Group, a leading market research company, has recently released a report titled “Europe Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Europe generic drug market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Europe Generic Drug Market?
The Europe generic drug market size reached US$ 56.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 89.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.
What is a Generic Drug?
A generic drug is a medication that is bioequivalent to a brand-name drug as per the dosage strength, quality, form, route of administration, performance, and intended use. It contains the same active pharmaceutical ingredient (API) as its branded counterpart, which makes it therapeutically equivalent. It is produced and sold after the patent expiration of the original branded drug that allows multiple pharmaceutical manufacturers to enter the market and compete by offering more affordable alternatives. It plays a crucial role in providing cost-effective healthcare solutions and ensuring accessibility to essential medications for a larger population.
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What are the Growth Prospects and Trends in the Europe Generic Drug Industry?
The Europe generic drug market is experiencing stable growth on account of the escalating demand for cost-effective pharmaceuticals. With rising healthcare costs and the need to optimize healthcare budgets, governing agencies and healthcare providers in Europe are encouraging the use of generic drugs to minimize medication expenditures without compromising patient care. Generic drugs offer substantial cost savings as compared to their branded counterparts, which makes them an attractive option for both public and private healthcare sectors. Additionally, the expiration of patents for several blockbuster drugs is offering lucrative growth opportunities to generic drug manufacturers operating in the region. Another significant trend in the European generic drug market is the growing emphasis on biosimilars. Biosimilars are generic versions of biologic drugs, which are complex molecules derived from living organisms. The introduction of biosimilars has revolutionized the treatment landscape by providing more affordable options for patients suffering from chronic diseases such as cancer, rheumatoid arthritis, and diabetes.
Key Market Segmentation:
The report has categorized the market based on segment, therapy area, drug delivery, distribution channel and region.
Breakup by Segment:
- Unbranded Generics
- Branded Generics
Market by Therapy Area:
- Central Nervous System
- Cardiovascular
- Dermatology
- Genitourinary/Hormonal
- Respiratory
- Rheumatology
- Diabetes
- Oncology
- Others
Based on Drug Delivery:
- Oral
- Injectables
- Dermal/Topical
- Inhalers
Analysed by Distribution Channel:
- Retail
- Hospital
Countries Covered:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Who are the Key Players Operating in the Europe Generic Drug Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- 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 Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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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