According to our latest report “Booming US Generic Drug Market”, the generics market in the US has experienced a significant surge during the past few years on the back of prominent factors, such as expiring patents of blockbuster drugs, government support, and shift in consumer behavior. The market was estimated to have crossed US$ 80 Billion mark in 2010, which represented a growth of around 10% over 2009. In future, the market is likely to witness good growth patterns when several major products, including the world’s two biggest selling medicines Lipitor and Plavix will lose their patents. The market is projected to be worth US$ 108.5 Billion by 2013.
Our report has found that generic drugs in the US are effectively being recognized by public as diseases related to cardiovascular, depression; obesity, cancer, and diabetes have become prevalent. Hence, the market potential of generics has become quite wide. Various application segments are lipid regulators, antipsychotics, angiotensin II receptor, anti depressants, human insulin, proton pump inhibitors, and erythropoietin.
The report “Booming US Generic Drug Market” provides an in depth analysis of the regulatory environment regarding generic drugs in the US and outlines all the key acts and policies by the government. Description related to Hatch-Waxman Act, ANDA Filing, Para IV filing, FDA requirement, Generic Initiative for Value and Efficiency (GIVE) program, among others have been covered in the report. The report also illustrates the current market performance and analyzes sector in terms of both value and volume.
The report is an outcome of an extensive research and prudent analysis of the US generic drugs market that defines current market trends prevailing in the market along with their impact on the industry performance. The forecasting section in the key areas of the report makes use of effective methods and techniques that seek to present a realistic projection. Last though not the least, the profiling of key market players adds value to the overall analysis.
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Article By: Shushmul Maheshwari