(PharmaNewsWire.Com, September 14, 2017 ) According to the report Middle East and Africa Generic drugs market, published by Market Data Forecast, The Market was worth USD 22.02 Billion in 2015 and estimated to reach USD 33.83 Billion by 2021 with a growing potential of 8.96 %.
Generic drugs are medication which have exactly same intended use, dosage, effects, risks, safety, side effects, and strength as the branded drug. They are far less expensive compared to branded drugs. Generic drugs are also known as abbreviated drugs. It can enter the market only after branded drug’s patent expires.
The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage. One more trend which influences market growth is outsourcing. Uncovered markets in this region are going to expand which is main reason for development in market. Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
Middle East and Africa Generic Drugs Market: Segmentation
• Type o Biosimilars o simple generics o Super generics o Y-o-Y Growth Analysis, By Product o Market Attractiveness Analysis, By Product o Market Share Analysis, By Product
• Therapeutic drugs o Cardiovascular Products o Anti-infective Drugs o Anti Arthritis Drugs o Central Nervous System Drugs o Anti Cancer Drugs o Respiratory System Drugs o Others o Y-o-Y Growth Analysis, By Therapeutic Drugs o Market Attractiveness Analysis, By Therapeutic Drugs o Market Share Analysis, By Therapeutic Drugs
Reasons to buy Middle East and Africa Generic Drugs Market Report:
• Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
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