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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Attribute
|
Details
|
Market Size Value in 2020
|
USD70.78 Billion
|
Revenue
Forecast in 2026
|
USD126.74 Billion
|
Growth Rate
|
9.43%
|
Base
Year
|
2020
|
Historical Years
|
2016 – 2019
|
Estimated
Year
|
2021
|
Forecast Period
|
2022 – 2026
|
Quantitative
Units
|
Revenue in USD Billion,
and CAGR for 2016-2020 and 2021-2026
|
Report Coverage
|
Revenue forecast, company share, competitive
landscape, growth factors, and trends
|
Segments
Covered | - Type
- Application
- Mode of Drug Delivery
- Form
- Source
- Distribution Channel
|
Regional Scope
|
South, Midwest, West & North-East
|
Key Companies
Profiled
|
Pfizer Inc, Abbott
Laboratories Inc, Teva Pharmaceuticals USA Inc, Eli Lilly and Company, Sandoz
US, Sun Pharma Inc, Endo Pharmaceuticals Inc, Lupin Pharmaceuticals Inc,
Aurobindo Pharma USA Inc and Zydus Pharmaceuticals USA Inc.
|
Customization Scope
|
10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
|
Pricing
and Purchase Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
Delivery Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request)
|
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).
In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com