Generics market expected to explode in next five years

A new report from MarketLine predicts that the global generics market will achieve double-digit growth through 2021. Previous years, 2012 to 2016, saw increased growth at a compound annual growth rate (CAGR) of 11.1% to reach a value of $318 billion. The US CAGR is expected to be 7.2% between 2016 a...

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Bibliographic Details
Published in:Drug Topics 2017-06, Vol.161 (6), p.11
Main Author: Hamm, Nicholas
Format: Magazinearticle
Language:English
Subjects:
Business forecasts
Forecasts and trends
Generic drugs
Generic products
Pharmacists
Online Access:Get full text
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Summary:A new report from MarketLine predicts that the global generics market will achieve double-digit growth through 2021. Previous years, 2012 to 2016, saw increased growth at a compound annual growth rate (CAGR) of 11.1% to reach a value of $318 billion. The US CAGR is expected to be 7.2% between 2016 and 2021 to reach a value of $141.2 billion. The US is still the largest single country market, with a value of $99.7 billion, and according to MarketLine, still has room for significant growth. Nicholas Wyatt, Project Leader for MarketLine, told Drug Topics that the company is projecting strong growth because the US has not hit a saturation point in terms of new and anticipated generics. He mentioned that, in 2016, generics for several blockbuster drugs (Seroquel XR, Crestor, Benicar, and Kaletra) all received "at least tentative approval."
ISSN:0012-6616
1937-8157