United States Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Infectious Diseases, Others), 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, Others), By Region, Competition, Forecast and Opportunity, 2026

United States generic drugs stood at USD 70.78 Billion in 2020 and is expected to grow at a steady CAGR of 9.43% during the forecast period. This can be attributed to the growing prevalence of chronic diseases such as cardiovascular diseases, diabetes, respiratory problems, renal disorders, cancer, among others across the country. Additionally, the sudden outbreak and spread of the COVID-19 pandemic has led to an increase in demand for generic drugs for the treatment of different symptoms such as cold, cough & flu, body pain, among others. This in turn is expected to support the market growth in the next few years. Additionally, the United States is emerging out as a hub for manufacturing of generic drugs in order to reduce the dependency for generic drugs on countries like India and China. All these factors are expected to support the market growth over the next few years.

Sudden Outbreak & Spread of COVID-19 Driving Market Growth

The growing number of people infected by the virus significantly changed the scenario of healthcare industry across United States. Various healthcare companies and research institutes launched several generic drugs to boost the immune system. Generic drugs play a very important role to fight against COVID-19. Generic Drugs Like analgesic, anticoagulants, steroids, and others are mainly used to manage the critical conditions of COVID-19 patients. This in turn is expected to support the market growth over the next few years as well.

Growing Prevalence of Cardiovascular Diseases and Diabetes Supporting Market Growth

Demand of generic drugs is increasing significantly due to growing prevalence of cardiovascular diseases, diabetes and other infectious diseases in United States. According to the data provided by National Diabetes Statistics Report, as of 2017, 10.5% of the US population had Diabetes and in every 36 seconds, one person dies in United States from cardiovascular diseases. Thus, creating the widespread demand for generic drugs in the market of United States.

Increasing Healthcare Expenditure to Support Market Growth

The healthcare spending in the US increased by 4.6% in 2019 which amounted to USD3.8 trillion, which was 17.7% of the GDP as compared to 17.6% in 2018. The Medicare spending increased by 6.7% in 2019 which accounted for 21% of the National Healthcare spending. The healthcare spending is expected to reach USD6.2 trillion by 2028, growing at a CAGR of 5.4% between 2019 and 2028. The national per capita healthcare expenditure also increased from USD11,597 in 2019 to around USD12,118. This in turn is expected to increase the market growth of generic drugs through 2026.

Lower Pricing of Generic Drugs Supports Market Growth

Low pricing of generic drugs is the main factor which supports the growth of generic drugs market in the United States. Generic Drugs are cost effective and have same effect as the patented drugs. Additionally, many pharmaceutical companies are preferring to manufacture generic drugs since they require less manufacturing cost and cut down the cost of research and development.

Market Segmentation

The United States generic drugs market is segmented based on type, mode of drug delivery, form, source of manufacturing, application, company and regional distribution. Based on type, the market can be split into small molecule generics and biosimilars. Based on application, the market can be fragmented into cardiovascular diseases, diabetes, neurology, oncology, infectious diseases, and others. Based on mode of drug delivery, the market can be divided into oral, topical, parenteral and others. In terms of form, the market can be segmented into tablet, capsule, injection, and others. Based on source, the market can be divided into in-house manufacturing and contract manufacturing organizations. By distribution channel, the market can be fragmented into retail pharmacies, online pharmacies, hospital pharmacies and others.

Company Profiles

Teva Pharmaceuticals USA, Inc., Pfizer Inc., Sandoz US, Endo Pharmaceuticals Inc., Aurobindo Pharma USA, Inc., Abbott Laboratories Inc., Eli Lilly and Company, Sun Pharma Inc., Lupin Pharmaceuticals, Inc., and Zydus Pharmaceutical USA Inc. are among the major market players in the United States that lead the market growth of generic drugs.

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Report Scope:

In this report, United States generic drugs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Generic Drugs Market, By Type:
• Small Molecule Generic
• Biosimilars
• Generic Drugs Market, By Application:
• Cardiovascular Diseases
• Diabetes
• Neurology
• Oncology
• Infectious Diseases
• Others
• Generic Drugs Market, By Mode of Drug Delivery:
• Oral
• Parenteral
• Topical
• Others
• Generic Drugs Market, By Form:
• Tablet
• Capsule
• Injection
• Others
• Generic Drugs, By Source:
• In House Manufacturing
• Contract Manufacturing Organizations
• Generic Drugs Market, By Distributions Channels:
• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies
• Others
• Generic Drugs Market, By Region:
• South
• Midwest
• West
• Northeast

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global generic drugs market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).