United States Generic Drug Market Report and Forecast 2024-2032

United States Generic Drug Market Outlook

The United States generic drug market reached a value of about USD 163.68 billion in 2023. The market is further expected to grow at a CAGR of 12% in the forecast period of 2024-2032 to reach a value of approximately USD 453.98 billion by 2032.

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The United States is the world's largest regional market for generic drug. That can be due to the thorough evaluations made by various regulatory bodies to ensure optimal quality during the manufacturing process of such products, further assisting the development of generic drugs in the country.

Generic medicines have seen a significant increase in production in the United States as they are less costly than branded drugs, and do not require extensive research and testing. Additionally, the advent of generic drugs has helped support the country's healthcare system by enhancing the patient quality and generating savings for taxpayers, employers, and insurance companies. Moreover, the market is currently experiencing a rapid growth due to a rise in the incidences of chronic disease across the world, such as cardiovascular diseases, Alzheimer's disease, diabetes, and Parkinson's disease.

Properties and Applications

Generic drugs are medicines that give the same active ingredients and therapeutic impact as a branded counterpart. Such medications are available in different forms, e.g., oral, topical, intramuscular, intravenous, or inhalant. They do not require marketing due to their marketed equivalents' established safety and efficiency profile. Such products can only be launched after the patent expiration of related brand-name drugs. 

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By type, the generic drug market in the US is divided into::

• Unbranded 
• Branded 

Unbranded generics currently hold the largest market share within the country.

On the basis of the therapy area, the industry is divided into:

• CNS
• Cardiovascular
• Dermatology
• Genitourinary/Hormonal 
• Respiratory
• Rheumatology
• Diabetes
• Oncology
• Others

On the basis of drug delivery, the industry is segregated into oral, injectables, dermal/topical, inhalers, and others. Oral drugs represent the largest market segment owing to their convenience.

On the basis of the distribution channel, the industry is bifurcated into retail pharmacies and hospital pharmacies. Hospital pharmacies dominate the generic drug market. 

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Market Analysis 

In the recent years, there has been an increase in the number of generic drug approvals across the U.S. driven by the FDA's Drug Competition Action Plan to remove obstacles faced by generic-drug manufacturers. Moreover, the U.S. Food and Drug Administration (USFDA) re-authorised the Generic Drug Consumer Fee Reforms in 2017 to improve the generic-drug production and approval process. GDUFA II permits generic-drug manufacturers to give user fees and provide the FDA with extra resources for generic-drug reviews. Other than this, the government has launched many programs to facilitate physicians and pharmacists to promote generic substitution in the country. Additionally, in the near future, several brand-name medicines will lose their patent rights, which will have a positive impact on the generic drug market in the United States.

Competitive Landscape 

The report gives a detailed analysis of the following key players in the United States generic drug market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Teva Pharmaceuticals USA, Inc.
• Sandoz Inc.
• Sun Pharmaceutical Industries Ltd.
• Lupin Pharmaceuticals, Inc.
• Par Pharmaceutical
• Endo Pharmaceuticals
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. 

Key Highlights of the Report

United States Generic Drug Market Report Snapshots

United States Generic Drug Market Size

United States Generic Drug Companies