According to our research report, “Booming US Generic Drug Market”, the generic drug sector in the US is one of the fastest growing sectors, both in terms of drug sales as well as prescriptions. The growth is primarily driven by prominent factors, such as patent expiration of key blockbuster drugs, price differences, aging population, and government support. The generic drugs industry in the US was valued at US$ 81.5 Billion in 2010, and is expected to grow further at a CAGR of around 10% during 2010-2013.
Our research revealed human insulin segment to offer a significant growth potential for generics players as diabetes prevalence is rapidly increasing and there are key drugs going off-patent in the near future. Humalog and Novolog are the key drugs whose patents are likely to get expired in 2014 and 2017, respectively. Moreover, the cost of insulin in the US is one the highest in the world and no generic version of drugs is available at present.
The report, “Booming US Generic Drug Market”, illustrates the market potential for human insulin segment and covers detailed analysis on other related segments, such as lipid regulator, antipsychotics, angiotensin II receptor, anti-depressants, ppi etc. It also investigates the recent market trends and analyzes their impact on the market performance. These trends have been identified after an in-depth analysis of market developments and industry focus.
In short, the report is an outcome of an extensive research and prudent analysis of the US generics market that effectively evaluates past, present, and future market performance. The forecasts in the report make use of proper base and methods so that future outlook may be more realistic. Overall, the report is likely to provide clients with a significant insight into the US generics market.
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Article By: Shushmul Maheshwari