According to a new research report by RNCOS, “Booming US Generic Drug Market”
, the revenue patterns associated with the sales of generics drugs have surged significantly over the past few years. In 2010, the US generic drugs sector was valued at around US$ 81.5 Billion, and is anticipated to advance at a CAGR of around 10% during 2010-2013. Key factors supporting the market growth include expiring patents of blockbuster drugs, government support, and shift in consumer behavior. As the government seeks to adopt active measures in order to reduce the burgeoning healthcare costs, generics is expected to witness huge adoption rate in years to come.
Our report also revealed that in antipsychotics segment, branded drugs dominate the total pharmaceutical drugs sales. It is interesting that most of the patents in this category have already expired, but cost of drugs still remained high. The patent expiration of key antipsychotic, such as Seroquel and Zyprexa is likely to bring a cut-throat competition in the US generic drug market. Companies have already geared up for it and are participating in an active manner. Players and other industry stakeholders, however, are trying to focus on low-cost products.
The report prudently investigates the current market trends that may have huge impact on the generic drugs sales performance and also evaluates a host of opportunities for generics manufacturers to gain a competitive edge. In addition, it also identifies and effectively illustrates all the key market developments to cover an in-depth insight on private sector participation. It provides information on important drivers spurring the industry’s growth and key challenges confronted by the industry.
Overall, the report is an outcome of an extensive research and proper analysis of the US generic drugs market that seeks to identify possible areas of growth in terms of technological developments, payment patterns, and regulatory environment in the country. Effective methods and techniques are used to forecast the key areas identified during the research, so that the outlook may seem more realistic. Last though not the least, the report covers a systematic description of key companies actively involved in the sector and gives an overview of recent developments.