India Generic Drug Market Discussed in New RNCOS Study Recently Published at MarketPublishers.com15 Sep 2015 • by Natalie Aster
LONDON – Generic drugs (generics) are cheaper and provide similar health benefits as those of brand-name counterparts. The global pharmaceuticals sector is seeing a high penetration rate of generics. In India, these drugs capture close to 75% of the total pharma market. This is owing to a number of factors, like ageing population; rising healthcare spending; high incidence rates for obesity, cardiovascular diseases and diabetes; and also continuous patent cliff for blockbuster drugs in the markets of USA and Europe. The Indian market is dominated by branded generic drugs. Around 80% of the generics are off-patented drugs sold under different brand names by large pharmacos like Bristol-Myer-Squibb, Pfizer and Glaxosmithkline, amid others. Branded generics are available at very high prices resulting in affordability issues, especially in rural India.
Due to the implementation of the schemes launched by the Government of India, such as Jan Aushadhi, Free Essential Drug, and Sehat, the market for unbranded generic drugs is poised to demonstrate a promising growth in short run. The generic drug market is poised to grow at 16.3% CAGR through to 2020. Lupin, Sun-Pharma, Cipla, Dr. Reddys and Biocon, among others, are the major players in the industry.
New research study “Indian Generic Drug Market Outlook 2020” created by RNCOS E-Services Pvt. Ltd (RNCOS) draws up a comprehensive picture of the generic drug market worldwide. It addresses the present-day scenario of the industry, looks at the factors supporting the growth of the sector, uncovers key hindrances to the lack of unbranded drug penetration, and reviews the various government incentives to promote generic drugs. The report includes an in-depth analysis of the size of the generic drug market along with offering future forecasts of the market development to 2020. Furthermore, the research publication offers detailed market segmentation of generic drugs based on therapeutic segments. The report canvasses the competitive landscape including the market shares of the dominant players, assesses key opportunities for the domestic generic producers. It also describes the steps needed to be taken by the Government to promote unbranded drugs.
Indian Generic Drug Market Outlook 2020
Published: September, 2015
Price: US$ 800.00
More reports by the publisher can be found at RNCOS page.