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Historical Year
Forecast Year
The North America generic drugs market was valued at USD 177.2 billion in 2024 driven by the rising demand for cost-effective medications and presence of a favorable regulatory environment. It is expected to grow at a CAGR of 6.8% during the forecast period of 2025-2034, with the values likely to attain USD 321.7 billion by 2034.
Generic drugs are a chemical copy of brand-name medications, containing the same active ingredients and offering similar clinical benefits. Generic medications also have to go through a shortened United States Food and Drug Administration (FDA) approval process before they can be marketed in the United States. Recent data reveals that 9 out of 10 prescriptions in the United States are filled for generic drugs, indicating their widespread use. There is a rising demand for cost-effective medications by both the healthcare systems as well as the patients to manage medical expenses, which is expected to propel the North America generic drugs market growth.
In North America, the rising burden of chronic diseases and the growing aging population significantly contribute to the global generic drugs market expansion. Further, the increasing patent expiration of branded drugs is a major growth driver for generic medications, allowing generic drug manufacturers to produce and market cheaper versions of formerly patented medications. For instance, Takeda Pharmaceutical’s patent for lisdexamfetamine dimesylate (Vyvanse) indicated for attention-deficit/hyperactivity disorder (ADHD) in children and adults, and binge-eating disorder (BED) in adults, expired on February 24, 2023, with a pediatric exclusivity period ending on August 24, 2023. It was reported that the FDA approved several first generics of Vyvanse following the end of the market exclusivity period of the original drug. Thus, the rising patent expiration of brand-name medications is anticipated to boost the North America generic drugs market share.
The market is also influenced by the presence of a favorable regulatory environment that fosters faster approvals and ensures market access to these low-cost drug alternatives. The FDA’s Office of Generic Drugs revealed a significant increase in generic drug approvals in its 2023 Annual Report, with 956 abbreviated new drug applications (ANDAs) including 90 first generics. Additionally, the surge in first-time generic drug approvals by the FDA, indicated by 12 such approvals in Q1 2024 alone, reflects the rapid market expansion of generic drugs.
The report offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Therapy Area | Cardiovascular, Dermatology, Respiratory, Oncology, Rheumatology, Others |
Route of Administration | Oral, Injectables, Dermal/Topical, Inhalers, Others |
Distribution Channels | Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others |
Country | United States, Canada |
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2024 |
Forecast Period | 2025-2034 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Therapy Area |
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Breakup by Route of Administration |
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Breakup by Distribution Channels |
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Breakup by Region |
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Market Dynamics |
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Supplier Landscape |
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Companies Covered |
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North America Generic Drugs Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at USD 177.2 billion in 2024 driven by increasing patent expirations and presence of a favourable regulatory environment across the region.
The market is expected to grow at a CAGR of 6.8% during the forecast period of 2025-2034, likely to reach a market value of USD 321.7 billion by 2034.
The rising prevalence of chronic diseases and the growing geriatric population are fuelling the demand for the market.
One of the significant trends in the market is the rising expiration of branded drug patents. In August 2023, the FDA approved several first generics of Vyvanse following the end of the market exclusivity period of the original drug.
Based on the therapy area, the market is segmented into cardiovascular, dermatology, respiratory, oncology, and rheumatology, among others.
By route of administration, the market is divided into oral, injectables, dermal/topical, and inhalers, among others.
The distribution channels of the market are hospital pharmacies, retail pharmacies, and online pharmacies, among others.
The market segmentation by countries includes the United States and Canada.
The key players in the market are Teva Pharmaceutical Industries Ltd, Viatris Inc., Sun Pharmaceutical Industries Ltd, Lupin, AstraZeneca, Baxter, Takeda Pharmaceutical Company Limited, GSK plc, Bausch + Lomb, Novartis AG, Sanofi, Pfizer Inc., Fresenius SE & Co. KGaA, Hikma Pharmaceuticals PLC, and Aurobindo Pharma.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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