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Future generic drugs - India and China growth

Future generic drugs - Emerging markets threaten the dominance of the USA Generics market 

A new 2016 report The Future of Generic Drugs and Strategies for Commercial Success explains how emerging economies including India, China, Brazil, Russia, Mexico, Indonesia, Nigeria and Turkey pose a threat to the dominance of the US in the global generics market.

The survey report predicts that the US will gradually lose its position as the biggest generic drugs market by global revenue with emerging economies such as India, China and Brazil taking a much larger share of the market.

The survey of 47 industry experts in the future generic drugs report concluded :

  1. 29% believed China would become the biggest generics emerging market by revenue in the next 5 years
  2. 23% felt that India would lead in 5 years.

Future generic drugs and emerging markets

Deekshita Allavarapu, Analyst for GBI Research says "Emerging markets have substantially driven the growth of generics despite the US being a dominant geography". One example is India, where a significant number of pharmaceutical companies have exhibited advanced technological capabilities coupled with lower marketing and manufacturing costs.

Deekshita explains further: “Despite emerging economies having relatively lower healthcare spending than developed economies, their healthcare costs are expected to significantly rise in the near future, driven by the adoption or expansion of universal healthcare and a growing incidence of lifestyle diseases.

In countries such as China, obesity and diabetes are on the rise and disposable incomes are increasing through the expansion of the middle classes.

"In this way, the adoption of generic drugs is very likely to be seen as a strategy to control costs, given the potential savings these types of drugs can represent.”

So the future of generic drugs will be dominated by India and China... lets see!

2017 Update : India is now the largest provider of generic drugs to worldwide markets and has the most number of FDA inspected manufacturing plants outside the U.S.A.

Other posts of interest

The rise of the Indian generic drug industry - affordable Indian generics

What lies ahead in the generic drug market - Future generics

How will this impact you?

We see this as great news for consumers, since generic drugs produced in these emerging countries tend to be significantly cheaper than those produced in the USA.

Also increased generic drugs competition can only be good news for consumers as it offers more choice and accessibility.


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