India Generic Drugs Market to reach USD36.51 billion by 2028
The
aging population of the nation and increasing incidences of chronic diseases are driving the growth of India
generic drugs market in the forecast period.
According to TechSci Research report, “India Generic Drugs Market – By Region,
Forecast & Opportunities, 2018-2028”, the India Generic Drugs market stood at USD24.53 billion in 2022 and is
anticipated to reach USD36.51 billion by 2028. This can be attributed to the
growing demand for generic drugs from hospitals & clinics. The rise
in chronic diseases and increased cost of living can substantially raise the
demand for generic drugs among the population. Generic medications follow
strict rules to ensure that the same amount of active ingredients is supplied
to the body simultaneously. Small molecule drugs are organic compounds with low
molecular weight. They have several distinct advantages, such that most can be
administered orally and pass-through cell membranes to reach intracellular
targets. They can also be designed to engage biological
targets by various modes of action. Their distribution can further be tailored,
for example, to allow for systemic exposure with or without brain penetration.
However, patients consider them inferior to branded medications, and some are
still in doubt of their efficacy and are reluctant to replace them with branded
drugs.
Browse over 33 market data Figures
spread through 70 Pages and an in-depth TOC on "India Generic Drugs Market"
https://www.techsciresearch.com/report/india-generic-drugs-market/10642.html
The India generic
drugs market is segmented into type, mode of drug delivery, form, source, distribution
channel, application, region and by company. Based on generic drug type, the
market is bifurcated into small molecule generic drugs and biosimilar generic
drugs. Small molecule generic drugs held the largest market share of around 70.01%
market share in 2022. This can be attributed to low-cost of the generic drugs
in comparison to the branded drugs and affordability by the large segment of
patients belonging from middle to low-income family.
Based on the mode
of drug delivery, the market is divided among
oral, parenteral, topical routes and others. The oral mode of drug delivery segment dominated
the market in 2022 and is anticipated to continue maintaining its dominance
during the forecast period. This
is the most common method of drug delivery since it is the most convenient and
cost-effective. Tablets and capsules, for example, provide a high degree of
medication stability and give precise dosage. It is non-invasive thus patient
can administer it by themself leading to more demand of generic drugs for oral
administration in the forecast year.
Based on regional
analysis, North India is expected to witness growth in the India generic drugs market
in the coming years due to the high number of establishments of Jan Aushadi Kendra
for the people and increasing population which will require more demand of medications
thus requiring more generic drugs, this is expected to play a major role in
accelerating the market demand for the generic drugs over the next five years.
The leading
companies operating in the India generic drugs market are:
Sun
Pharmaceutical Industries Limited- Torrent
Pharmaceuticals Limited
- Cipla
Limited
- Lupin
Limited
- Piramal
Group
- Glenmark
Pharmaceuticals Limited
- Biocon
Limited
- Dr.
Reddy's Laboratories Limited
- Aurobindo
Pharma Limited
- Teva
Pharmaceuticals Limited
India generic
drugs market is a highly fragmented market, with many established companies
holding significant shares in the industry, followed by several domestic
players. However, the market is highly dependent on imports of active
pharmaceutical ingredients, especially from China.
Download Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=10642
Customers
can also request for 10% free customization on this report.
“As healthcare expenses rise, it's critical to
produce generic alternatives and make them available to consumers. This could
help curb the rise in healthcare costs often passed on to people. Small
molecule drugs have been the mainstay of the pharmaceutical industry for nearly
a century. Patients are three times more likely to abandon branded medicines
than generic alternatives, and hefty copays frequently cause this abandonment.
When it comes to aiding the many people who need to take prescription drugs,
generic drugs are a convenient and economical choice that may boost the
likelihood that patients would follow through with their doctor's
recommendations which will boost the demand for generic drugs in the upcoming
years", said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“India
Generic Drugs Market by Type (Small Molecule Generics
& Biosimilars), By Mode of Drug Delivery (Oral, Parenteral, Topical,
Others), By Form (Tablets, Capsules, Injections, Others), By Source (Contract
Manufacturing Organizations & In-house), By Distribution Channel (Retail
Pharmacies, Hospital Pharmacies, Online Pharmacies & Others) By Application
(Neurology, Oncology, Cardiovascular
Diseases, Diabetes, Anti-Inflammatory Diseases, Others), By Region, has evaluated the future growth potential of India
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 India generic drugs market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com