The UK is one of the largest economies in the world. The per capita income and spending has been also increasing for the last few years. Besides, due to the increasing consumer spending on the branded products, the healthcare spending in the UK is increasing. However, the government has saved up to GBP 7 Billion (US$ 11.3 Billion) annually by using generics. Due to this, the government of UK has been promoting the usage of generics in the country, which has fuelled the growth of generics market in the country.
As per our new report “UK Generics Market Analysis”, the generics market is anticipated to grow at a CAGR of around 16% during 2011-2013. Majorly, growth of the market will be fuelled by the patent expirations of various blockbuster drugs during the next 2-3 years. This will result in the launch of more generics product of the drugs. Besides, entry of several global generics manufacturers in the country has boosted the demand for generics.
Moreover, our report provides segmentation of generics product on the basis of prescriptions. Generic drugs accounted for around 86% of the total prescriptions written in 2009. The major reason for such a huge share is that, the pharmacists in the UK are reimbursed a certain percentage of the selling price of the medicine, though it has a fixed rate of reimbursement. This share is further anticipated to increase in future on the back of strong government support.
"UK Generics Market Analysis" has properly segmented the market on the basis of value, number of prescriptions written off, and therapeutics. It also provides information on the key competitors in the market along with their business information. The report shows a highly concentrated structure of the market, with the top players dominating the market. It also provides segment level analysis of the industry along with the emerging trends that may shape up with the betterment of economic conditions.
The research will help consultants, industry analysts, and vendors to get in-depth knowledge of the current, past, and future performance of the industry. The report provides an extensive research on the recent trends of the UK generics industry along with impartial analysis considering the impact of financial crisis on its performance.