Source: Emailwire Global Press Release Newswire – Press Release/Statement:
Headline: Generic Drugs, a better replacement for prescribed branded drugs
(EMAILWIRE.COM, March 23, 2018 ) Generic Drugs are medications that have an equivalent chemical composition and possess similar performance characteristic to its branded variants. In contrast to blockbuster or branded medicine, generic medicines are marketed by the name of its chemical sans promoting titles. Generic medicine is also referred to as abbreviated medicine. To sell these medicines, a drug producing company should submit an Abbreviated New Drug Application for approval.
View sample and decide: http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/request-sample
The global Generic Drugs Market is estimated to have a value of USD 395.2 billion in 2016. With a CAGR of 10.5%, the market size is expected to grow rapidly to cross USD 652.6 billion by 2021. Factors such as long expiry date and outsourcing are driving the market in the past few years and is anticipated to continue the same in the forecast period.
To know more read: http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/
Generic Drugstore is going to gain USD twenty five billion by 2020. Despite high development prices, the biosimilar section is probably going to witness high growth owing to the rising variety of off-patent biological medicine. The expansion of this sector is attributed to the positive outcomes of current clinical trials and therefore leading to the growing demand for biosimilar in several therapeutic applications.
Generics are less costly than brand alternatives while being even as effective. Studies show that patients stand to learn from turning to generic alternatives rather than brand prescription drugs. U.S. patients pay around $300 billion a year on brand-name medicine. The retail value of one prescription average $714. Brand-name medicine account additionally for 73 % of retail drug payment despite the fact that they solely comprise 11% of all client prescriptions.
Get your customized report: http://www.marketdataforecast.com/market-reports/global-generic-drugs-market-2183/customize-report
North America dominates the market globally followed by Europe and Asia-pacific. Asia-Pacific is predicted to grow considerably attributable to developing countries like India, China and Japan establishing pathways for approvals of generic medicine and their untapped market potential.
The major market contributors for the global Generic Drugs Market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddys Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical.
About Market Data Forecast
Market Data Forecast is a well versed market research firm catering solutions in the fields of market research, business intelligence and consulting. With a profound knowledge about the global market activities coupled with a customized approach. We render services in the most gripping markets like healthcare, agriculture and food & Beverages
More about Market Data Forecast
Visit Market Data Forecast Blog @ http://www.marketdataforecast.com/blog/ View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases
Abhishek Shukla
+1-888-702-9626
abhishek@marketdataforecast.com
Source: EmailWire.Com 
—