United Kingdom Generic Drugs Market Led To Growth By Obesity Control Medicines
The United
Kingdom Generic Drugs Market, 2023-2027F may grow with expanding pharmaceutical
industry in the country.
According to TechSci report on, “United
Kingdom Generic
Drugs Market - By
Region, Competition Forecast & Opportunities, 2027”, United
Kingdom generic drugs market may flourish with an impressive CAGR during the
forecast period of 2023-2027, on the backbone of growing demands for effective
and cheaper drugs for treatment. Rising instances of chronic diseases that
require prolonged medication further drives the growth of the United Kingdom
generic drugs market in the upcoming five years. Low cost of generic drugs, and as a perfect alternative for the
branded drugs the demands for the generic drugs surges rapidly. Higher
prevalence of robotic process automation and its utilization to facilitate the pharmaceutical demands and patient care further facilitates
the growth of the United Kingdom generic drugs market in the next five years.
Moreover, use of artificial intelligence to make the drug routines automated
along with the rule based process is also aiding the market growth. The market
players utilize the robotic process automation and artificial intelligence to regulate and standardize the product
quality. Growing prevalence of these procedures and product standardization
would support the authenticity of the generic drug thereby substantiating the
growth of the United Kingdom generic drugs market in the forecast years through
2027.
Furthermore,
COVID-19 also had severe impact over the generic drug market in the United
Kingdom. Although the supply chain disruption posed as restraining factor
toward the industrial growth, the demand for the generic drugs for the
symptomatic relief from the coronavirus infection aided the growth of the
United Kingdom generic drugs market in the forecast period.
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The
United Kingdom generic drugs market is segmented by type, mode of drug
delivery, form, source, distribution channel, application, competitional landscape,
and regional distribution. Based on type, the market is differentiated between
small molecule generics and biosimilars. Biosimilars are anticipated to hold
the largest revenue shares of the market and dominate the market segment in the
upcoming five years on grounds of growing demand for the affordable and equally
effective drugs as the branded medicines. Growing demands for the treatment
drugs against obesity, diabetes, and high blood pressure also facilitate the
growth of the segment along with the growth of the United Kingdom generic drugs
market in the next five years.
By
mode of drug delivery, the market is further segmented into oral, topical,
parenteral, and others. Oral drug delivery may lead the segment in the upcoming
five years and hold the largest revenue shares of the market due to easier drug
delivery through the oral route of administration. Based on form, the market is
fragmented into tablet, capsule, injection, and others. By source, the market
is differentiated into in house and contract manufacturing organizations. Based
on distribution channel, the market is bifurcated into hospital pharmacies,
retail pharmacies, and online pharmacies. By application, the market is also
segmented into cardiovascular diseases, diabetes, neurology, oncology,
anti-inflammatory diseases, and others. The market analysis also studies the
regional segmentation to devise regional market segmentation, divided among
London, East Anglia, Southwest, Southeast, Scotland, East Midlands, and Yorkshire
& Humberside.
A
partial list of major market players of the United Kingdom generic drugs market
includes :
·
GlaxoSmithKline Plc.
·
Abbott Laboratories Limited
·
Eli Lilly and Company Limited
·
Teva UK Limited
·
Mylan UK Healthcare Limited
·
Pfizer Limited
·
Novartis UK Limited
·
Sun Pharmaceuticals UK Limited
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“Growing demand for the generic drugs and affordable medicine for
various categorical diseases drive the growth of the market. Pharmaceutical
industry is rapidly expanding in the country growing on the backbone of higher
investments and increasing expenses over pharmaceutical products by the
consumers. Although National Healthcare Services (NHS) provides majority of the
healthcare products and services for the consumers, private sector of the
healthcare has been recently expanding rapidly and aiding the overall
industrial growth in the recent years. Also, due to the lifestyle of the
population, there has been a surge in the number of populations looking to
overcome the consequences of lifestyle diseases like diabetes, obesity, and
infectious diseases like anti-inflammatory diseases, bacterial infections etc.
and thus aiding the growth of the United Kingdom generic drugs market in the
future five years. New market players may focus on the research and development
along with product development with advanced technologies to support their
brand establishment in the market players,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“United Kingdom Generic
Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug
Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule,
Injection, Others), By Source (In House v/s Contract Manufacturing
Organizations), By Distribution Channel (Hospital Pharmacies, Retail
Pharmacies, Online Pharmacies), By Application (Cardiovascular Diseases,
Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region,
Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United
Kingdom generic drugs market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in United Kingdom generic
drugs market.
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