US Generic Drug Market (Drug Type: Simple Generics and Super Generics; By Brand: Pure generic drugs and Branded generic drugs; By Route of Drug Administration: Oral, Topical, Parental, and Others; By Therapeutic Application: Central nervous system (CNS), Cardiovascular, Dermatology, Oncology, Respiratory, and Others; By Distribution Channel: Hospitals Pharmacies, Retail Pharmacies, and Others) - Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2022 - 2030

The U.S. Generic Drug market size was valued at US$ 123.75 billion in 2021 and is expected to hit US$ 155.82 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.59% from 2022 to 2030.

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Growth Factors:

Generics are off-patented drugs that are bioequivalent to branded medications in terms of dosage, strength, quality, form, effect, intended use, side effects, and route of administration. In the US, generic drugs have witnessed a substantial rise in production as they are less expensive than branded drugs and do not require extensive research and testing. Additionally, the introduction of generic medicines has helped in sustaining the healthcare system of the country with improved patient access and generating savings for taxpayers, employers and insurance providers. Moreover, the market is currently experiencing significant growth due to a rise in the prevalence of chronic diseases across the region, such as cardiovascular diseases, diabetes, Alzheimer’s disease, and Parkinson’s disease.

Report Scope of the U.S. Generic Drug Market

Report Coverage

Details

Market Size in 2021

USD 123.75 Billion

Revenue Projection By 2030

USD 155.82  Billion

Growth Rate

CAGR of 2.59% from 2022 to 2030

Base Year

2021

Historical data

2017 - 2020

Forecast Period

2022 to 2030

Segments Covered

Drug, Brand, Route of Drug Administration, Therapeutic Application, Distribution Channel 

Companies Mentioned

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

Market Drivers:

In recent years, there has been a rise in the number of generic drug approvals across the US supported by the implementation of the Drug Competition Action Plan of the FDA that aims towards the elimination of barriers faced by the generic-drug manufacturers. Furthermore, to enhance the generic-drug development and approval process, the US Food and Drug Administration (USFDA) has reauthorized the Generic Drug User Fee Amendments in 2017. The GDUFA II allows the collection of user fees from generic-drug manufacturers to provide the FDA with additional resources for generic-drug reviews. Other than this, the Government has introduced several programs for offering incentives to physicians and pharmacists to promote generic substitution in the nation. Besides, numerous brand-name drugs are set to lose their patent protection in the near future which will have a positive effect on the generic drugs market in the country.

Some of the prominent players in the Generic Drug market include:

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

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

By Brand

  • Pure generic drugs
  • Branded generic drugs

By Route of Drug Administration

  • Oral
  • Topical
  • Parental
  • Others

By Therapeutic Application

  • Central nervous system (CNS)
  • Cardiovascular
  • Dermatology
  • Oncology
  • Respiratory
  • Others

Key Distribution Channel

  • Hospitals Pharmacies
  • Retail Pharmacies
  • Others

Key Points Covered in U.S. Generic Drug Market Study:

  • Growth of U.S. Generic Drug in 2022
  • Market Estimates and Forecasts (2017-2030)
  • Brand Share and Market Share Analysis
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise
  • Competition Mapping and Benchmarking
  • Recommendation on Key Winning Strategies
  • COVID-19 Impact on Demand for U.S. Generic Drug and How to Navigate
  • Key Product Innovations and Regulatory Climate
  • U.S. Generic Drug Consumption Analysis
  • U.S. Generic Drug Production Analysis
  • U.S. Generic Drug and Management