subject: Booming Us Generic Drug Market [print this page] Booming US Generic Drug Market Booming US Generic Drug Market
The US represents one of the worlds largest economies. The countrys per capita income and spending are rated among the highest in the world. On the back of rapidly growing consumer spending on branded products, total healthcare spending of the US reached up to an estimated value of around US$ 2.5 Trillion in 2009, which appears very high when compared to the population. The government is now emphasizing to minimize the healthcare spending by using generics drugs and promoting other low cost healthcare. This has created huge opportunities in the countrys generics industry. ( http://www.bharatbook.com/detail.asp?id=71290&rt=Booming-US-Generic-Drug-Market.html )
The US generics market is anticipated to grow at a CAGR of around 8.8% during 2010-2013, says our recent research report Booming US Generic Drug Market. Currently, the market growth is largely fuelled by the emergence of new products as patents of branded drugs are getting expired, and the trend is likely to continue over the next 3-4 years also. Anticipating the future growth, big pharma players are making deals with some generics manufactures from the Asian countries, like India, to access their products and market them in the US. This trend will emerge more strongly during our forecast period, providing opportunities to the local players to widen their product portfolios.
Although several challenges, such as price erosion and litigations from branded manufacturers, may hamper the growth, the overall growth prospects of the market remain good. In this regard, our report provides rational analysis of various factors which will drive the generics market in the US over the forecast period.
The report also provides extensive information on the countrys generics market, besides discussing the emerging trends like contract manufacturing and biogenerics. Thus, it provides valuable information to pharmaceutical & generics companies and investors looking to enter this market. Facts and figures regarding market size, growth, share, regulatory environment and trends in technology development have been thoroughly analyzed in the report to provide clients a comprehensive overview of the market.
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