This article explores the role of generics in expanding access to medicines in emerging markets, highlighting the challenges and opportunities that exist. The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal. Their commitment to producing affordable medicines without compromising quality has reshaped the global pharmaceutical landscape. As these companies continue to innovate, collaborate, and expand their reach, the future promises a more accessible and equitable healthcare system worldwide.
Expanding Access to Medicines: The Role of Generics in Emerging Markets
The Established Pharmaceutical Products segment encompasses a broad range of branded generic medications made around the world and marketed and sold in emerging markets outside of the United States. Depending on the market covered, Abbott-owned distribution centers and public warehouses sell these items directly to wholesalers, distributors, government agencies, health care facilities, pharmacies, and independent retailers. Certain products are co-marketed or co-promoted with other companies or are licensed from them. Oxialfarm is a pharmaceutical company based in Ecuador that specializes in the production of retroviral medications.
Aurobindo Pharma
- The company is dedicated to providing affordable and high-quality medicines while promoting sustainability.
- They work with healthcare professionals, governments, and local communities all around the world to support and expand access to safe, affordable healthcare.
- With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry.
- These corporations are an integral part of global healthcare systems, catering to different therapeutic areas to help patients overcome various health conditions.
- With over 5 decades of experience, we are actively involved in the development, manufacturing, and marketing of branded generic pharmaceutical products.
- With a focus on affordability and accessibility, Mylan expanded its reach worldwide, particularly in emerging markets.
- The government is finding ways to restore the fiscal balance by transferring more funds to patients and private health insurance.
While primarily focused on branded pharmaceuticals, through its subsidiary Elanco Animal Health, Lilly also offers generic animal health products, emphasizing quality and accessibility. In the vast landscape of pharmaceuticals, generic drug companies play a crucial role in providing affordable alternatives to brand-name medications. These companies, driven by innovation, efficiency, and a commitment to public health, are instrumental in making healthcare accessible worldwide. In this blog, we unveil the top 10 generic drug companies that are leading the charge in revolutionizing the industry. STADAstands out as a premier producer of top-tier pharmaceuticals, boasting a legacydeeply rooted in pharmacy traditions that spans over 125 years. Recognized as adependable and reputable ally, the company maintains a robust product pipeline,with over 2,500 approval procedures encompassing more than 200 activepharmaceutical ingredients and combinations in over 60 countries as of December31, 2023.
Hetero Drugs Ltd
With a production base that allows the manufacture of 13 different pharmaceutical forms, SOTHEMA represents 35 client laboratories ranking among the global R&D leaders. Drawingfrom over 50 years of experience in manufacturing active pharmaceuticalingredients (APIs), Cipla has developed over 200 generics and complex APIs. Thecompany is eager to collaborate with leading generic firms to introduce newproducts, thus expanding its presence in markets such as Japan, Korea, andBrazil. Moreover, Cipla is actively pursuing strategies to deepen itspenetration in the generic distribution channel through digital platforms,engaging directly with retailers. By March 2023, it had onboarded over 135,000retailers, facilitating enhanced market outreach and accessibility. Asthe 10th largest generics company in the United States, Sun Pharma possesses aformidable research and development infrastructure, equipped to developtechnologically advanced products in both generics and specialty segments.
Asia-Pacific To Remain Largest Growth Region For Generic Drugs In 2024
Encouragingly, the report found strong examples of how companies are engaging in adaptive R&D to tailoring products to the needs of people in LMICs, with nine adaptive R&D projects identified among the companies in scope. These include products specifically adapted for children; products adapted so that they do not require refrigeration; and formulations that simplify dosing regimens. BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts assess growth opportunities, market sizing, technologies, applications, supply chains and companies with the singular goal of helping you make informed business decisions, free of noise and hype.
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The APAC region is undergoing a significant transformation due to an ageing population, especially in Japan, China and South Korea. As these populations age, there is a corresponding increase in the prevalence of chronic diseases, which ibrutinib price in usa in turn raises the demand for affordable long-term medication. Generic drugs, being less expensive than their branded counterparts, are thus in higher demand to manage healthcare costs for this growing segment of the population.
Amneal Pharmaceuticals
Gabapentin is already available in other generic forms, but the specific release characteristics and dosing regimen of Gralise are protected by patents. Once these patents expire and if any market exclusivity periods have lapsed, other companies can produce generic versions of this particular formulation, potentially leading to price reductions and increased accessibility for patients. The launch of generic Gralise, especially in Q124, as anticipated, could offer patients more options for their treatment plans.
Sandoz Group AG [Annual Revenue: USD 15 Billion]
Generic drugs sales are facing increasing challenges in the US, mainly due to pricing pressures. Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls. This has led many US and foreign generic drug companies to lower their expectations for growth in the US. Consequently, low-cost generics from India and China will remain in high demand from the US until sufficient subsidies or alternative support for domestic generic drugs production expansion are offered. Throughout 2023, India -based pharmaceutical companies have been the frontrunners of US ANDA approvals, which are generic approvals by the FDA that can be sold and distributed in the US.
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The company values privacy and adheres to policies to ensure the security of their customers’ personal data. They specialize in the production of high-quality generic medications and contract manufacturing for other pharmaceutical companies. Recent trends in the generic drugs industry include increased consolidation among companies, with larger players acquiring smaller ones to expand their product portfolios. Additionally, breakthroughs in manufacturing processes and regulatory reforms have improved the efficiency and quality of generic drug production.
- With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market.
- DOC PHARMA exports its products to various European countries and has the potential for global expansion.
- Therefore, the upper hand of the pure generic drugs segment is predicted to continue during the forecast period.
- In addition, the growing aging population in the European region supports regional market growth.
- In Africa, the African Medicines Agency (AMA) aims to enhance the continent’s pharmaceutical regulatory environment to ensure that the generic drugs supplied meet international quality standards.
- Aurobindohas garnered approvals for sophisticated injectable suspension products,including generic versions of Kenalog®, Depot-Medrol®, and Depo-Provera®,typically characterized by an extended duration of action lasting up to severalweeks.
- This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region.
#17 Takeda Pharmaceutical Co., Ltd
These companies have demonstrated exceptional growth, strategicforesight, and operational excellence, enabling them to navigate complexregulatory environments and fierce competition within the pharmaceuticalindustry. Amneal Pharmaceuticals is a pharmaceutical company that specializes in the development and production of essential medicines. They have a broad portfolio of approximately 270 generic and specialty pharmaceuticals, and they are committed to improving the lives of patients and care for the communities they serve. It focuses on the research, development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished formulations. Dedicated to affordability and improving well-being, Qilu has a robust pipeline of over 200 generic, 30 biosimilar, and 80 innovative products.
CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke. Moreover, the cardiovascular segment covers more than 6% of the global generic drug market due to a series of cardiovascular drug patent expiration. In addition, global population growth and aging benefit the healthcare sector and the manufacturers of generic drugs. Hetero.com is a pharmaceutical company that specializes in the research, development, and production of high-quality and affordable medicines. They have a strong focus on healthcare innovation and improving access to life-saving treatments.
The company a strong distribution network that spans more than 165 countries, with a prominent presence in emerging markets, such as India, China, and Brazil, with a continually growing demand for affordable generic drugs. The generic drug production industry encompasses companies that focus on the manufacturing and distribution of generic medications. These are companies producing drugs that have exactly the same active ingredients as brand-name drugs, but are accessible at a fraction of the cost. Their responsibilities include compliance with health, safety, and regulatory standards, and ensuring the efficacy and quality of the products. The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs. Future growth and expansion of the industry are projected due to factors such as growing drug patent expiracies and an increasing emphasis on cost-effective healthcare solutions.
Strategies for Expanding Access
The government’s involvement is essential in facilitating the export of generic medicines through policies and laws that promote competition and ensure affordability. Compulsory licensing is a significant measure allowing the production and export of low-cost generic drugs by bypassing patent monopolies, especially crucial during public health crises like pandemics. Additionally, governmental policies aim to streamline access to generic medicines, promote their use, reduce healthcare costs, and ensure affordability for all. Generic medicines play a crucial role in bridging healthcare gaps on a global scale by providing affordable and accessible healthcare solutions.
- With subsidiaries and offices in over 80 countries across the Americas, Europe, the Middle East, Africa, and Asia-Pacific, Novartis products reach about 800 million customers globally.
- Generic drugs, being less expensive than their branded counterparts, are thus in higher demand to manage healthcare costs for this growing segment of the population.
- STADAstands out as a premier producer of top-tier pharmaceuticals, boasting a legacydeeply rooted in pharmacy traditions that spans over 125 years.
- Healthcare costs are growing significantly, making it difficult for people to afford quality healthcare.
- Emerging markets like India and China are supposed to generate more opportunities for the generic drugs market.
The market in the Middle East and Africa is expected to hold a moderate share of the worldwide market during the forecast period. The rising number of improvements in the healthcare infrastructure and healthcare system of MEA countries is favoring the generic drugs market in MEA. In addition, increasing initiatives from the MEA countries favoring generic drugs support regional market growth. The APAC market held the second-largest worldwide market share in 2023, falling right behind North America. Countries such as India and China in the Asia-Pacific region dominated the global generic drugs business in volume.
This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region. Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs. With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market. They have also expanded internationally, with presence in 20 countries in Africa and the Middle East. Notable contributions include 40% of generics in the U.S., 25% in the U.K., 60% of global anti-retroviral drug supplies, and fulfilling 30% of UNICEF’s annual requirements.
- With the rising demand for affordable medications, the generic drugs industry has experienced significant growth in recent years.
- Specializing in affordable alternatives to brand-name medications, Teva offers a diverse portfolio covering various therapeutic areas.
- In the dynamic landscape of healthcare, the demand for accessible and cost-effective medications is more pronounced than ever before.
- Annually, it delivers over 800 milliontreatments to patients, resulting in over USD 18 billion in direct savingsacross the US and Europe.
- Generics and biosimilars are crucial in providing affordable and effective treatments for various diseases.
- The growing demand for cost-effective drugs in the European region primarily drives market growth.
- Lupin is a global pharmaceutical company that specializes in the development, manufacture, and sale of a wide range of generic and specialty drugs.
- Generic drugs present several key benefits, foremost among them being the significant reduction in healthcare expenses.
Viatris seeks to provide improved access to inexpensive, high-quality medications for patients worldwide, regardless of region or circumstance, by combining the assets of these two businesses. Laurus Labs is an innovative company with world-class research capabilities, specializing in the manufacturing and marketing of pharmaceutical products. Laurus Labs is committed to developing new cures, building a profitable business, and improving the quality of life through affordable medicines. The success of these top companies can be attributed to several shared elements and approaches. Firstly, they have invested heavily in research and development, constantly striving to bring new and improved generic drugs to the market. Secondly, they have built robust manufacturing capabilities, ensuring high-quality and cost-effective production.
Aurobindo Pharma has established itself as a significant player in the global generic drug market with a substantial presence in critical markets worldwide, including the United States and Europe. SunPharmaceutical Industries Limited is a publicly listed corporation incorporatedand headquartered in India, with its registered office located in Vadodara,Gujarat, India. The company is primarily involved in the manufacturing,development, and marketing of a broad spectrum of branded and genericformulations, as well as Active Pharmaceutical Ingredients (APIs).
If you want to find more companies that develop, manufacture, and distribute cost-effective medications you can do so with Inven. Throughclose collaboration with a network of trusted partners in development,manufacturing, and distribution, STADA consistently enriches its Genericsportfolio. In 2023, notable additions included the anticoagulant apixaban, thediabetes medication sitagliptin, and the analgesic tapentadol. Additionally,launches encompassed tacrolimus for immune system suppression post-organtransplantation and sugammadex for reversing the effects of muscle relaxants,reflecting STADA’s unwavering commitment to innovation and patient well-being. Inthe European market, Aurobindo Pharma Limited maintains a robust presenceacross 10 countries, boasting fully operational pharmacies, hospitalfacilities, and a comprehensive infrastructure for tender sales. It ranks amongthe top ten generic companies in eight countries, including four of the topfive EU nations.
The global generic drugs market is forecasted to generate $404.3 billion in revenue in 2022, with an estimated compound annual growth rate of 7.20% until 2030, reaching $705.1 billion. In the dynamic landscape of healthcare, the demand for accessible and cost-effective medications is more pronounced than ever before. A significant player in this realm is the global market for generic drugs — a sphere that has witnessed remarkable growth and transformation in recent years. Generic drugs are medicinal products that can be manufactured and marketed by entities other than the innovator company once the original patents have expired. These drugs are bioequivalent to their brand-name counterparts, offering the same therapeutic benefits but at a fraction of the cost. Valmorca offers a wide range of pharmaceutical products and aims to provide high-quality medications to the community.
Access to high-quality generic medications continues to be a pivotal issue across the globe in 2024, with various regions deploying targeted strategies to overcome barriers to affordability and quality. Many patients in conflict zones and low-income countries have limited pharmaceutical manufacturing and are heavily reliant upon imports to access generics. Weak regulatory systems in many sub-Saharan African countries, lack of financing, and insufficient healthcare infrastructure impede access to quality generic medicines. Low-income countries across various regions, including parts of Asia and Latin America, struggle with access to generics due to high out-of-pocket costs for patients, tariffs on imported medicines, and limited availability of essential drugs. We anticipate that new regional and national initiatives will be developed, targeting improving regulatory capacities, establishing better procurement practices, negotiating price reductions, and encouraging local production of generic medicines.
The world’s leading producers of generic and biosimilar medicines – such as the five market leaders profiled in this report – occupy a central position in the global health landscape. By stepping up and taking action, they can ensure people living in LMICs have reliable, affordable access to essential medicines. For instance, in May 2022, Sandoz will expand its respiratory portfolio by launching the first generic pirfenidone in the United States for patients with idiopathic pulmonary fibrosis. Sandoz was the world’s leading generics manufacturer in 2020, with 9.5 Billion US dollars in revenue. Tablets, capsules, and tablets aren’t the only ways to get medicine into your body; injectables are another option. They’re considered the most effective because the drug’s bioavailability is higher through this route than the others.
Beyond his professional achievements, Anil is deeply passionate about the intersection of technology and healthcare. He is committed to staying at the forefront of industry innovations, ensuring that his work consistently exceeds client expectations. Whether working with small start-ups or large enterprises, Anil consistently delivers high-quality research that supports informed decision-making and drives impactful results in the healthcare industry. Aurobindohas garnered approvals for sophisticated injectable suspension products,including generic versions of Kenalog®, Depot-Medrol®, and Depo-Provera®,typically characterized by an extended duration of action lasting up to severalweeks.
However, maintaining stringent quality control standards remains a key focus to foster trust and sustained use of these generics. We’re able to make these medicines affordable because we manage the entire value chain – from producing the active ingredients to developing formulations to distributing them through our streamlined supply chain. We leverage our inherent strength—one of the largest manufacturing bases in India—to provide a distinct cost advantage for our customers. Our in-depth knowledge of regulation and intellectual property also helps us to bring high-quality, regulatory-compliant medicines within reach of millions throughout the world. Many people throughout the world do not have access to good health because they can’t afford expensive medicines.
The company is firmly committed to adhering to regulatory compliance requirements in different markets, which has facilitated its expansion into new markets and bolstered its business growth. Latin America is anticipated to hold a considerable share of the worldwide market during the forecast period. Healthcare costs are growing significantly, making it difficult for people to afford quality healthcare. Due to this, the demand for affordable healthcare is growing in the Latin American region, driving the generic drugs market in Latin America as these drugs are an effective alternative to branded drugs.
Additionally, anesthesiologists and hospital officials from various hospitals in Shanghai said the generic versions of the anesthetics they use produce the desired clinical outcomes. Interviews with them, along with a retrospective study at Ruijin Hospital, showed no significant dosage changes before and after the bulk procurement program. This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources.
Anushka holds a Master’s degree in Commerce and has been writing and editing long-form content for 4 years covering diverse business areas such as healthcare, digital marketing, sports equipment, home appliances, social media promotion, and clothing. Her mission to educate business owners in all aspects of market analysis flows through the expert industry coverage she provides. When not writing or editing files, you will find her sketching, exploring heritage and historic places, or cooking.
Thirdly, they have developed strong distribution networks, enabling them to reach diverse markets and provide affordable drugs to a wide range of customers. The analysis of the top companies in the Generic Drugs sub-industry has revealed some interesting findings. The rankings show that the leading companies in this sector are experiencing significant growth and success. These companies have achieved remarkable accomplishments in terms of revenue, market share, and innovation. They have emerged as the key players in the pharmaceutical industry, contributing to the availability and affordability of generic drugs worldwide.
- These drugs undergo stringent testing to ensure they are bioequivalent to their branded counterparts, offering the same safety and efficacy.
- They specialize in the research, development, manufacturing, and marketing of complex injectables.
- Branded generic drugs have gained recognition as being of better quality than pure ones, and notable pharmaceutical companies market these.
- They possess a well-diversified portfolio of over 200 generic medicines and a strong presence in both developed and emerging markets.
- Currently ranked 3rd globally in pharmaceutical production by volume and 14th by value, India commands a 20% share in global generic medicine supply and dominates vaccine manufacturing with a 60% market share.
- These companies have achieved remarkable accomplishments in terms of revenue, market share, and innovation.
- Pfizer concluded the spin-off and merging of the Upjohn Business with Mylan on November 16, 2020.
With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally. The high cost of branded medicines has been a significant barrier to healthcare access, especially in developing nations. Indian pharmaceutical companies have been instrumental in breaking down this barrier by producing generic drugs at a fraction of the cost of their branded equivalents. This cost-effectiveness is a boon for developing countries and healthcare systems in developed nations striving to contain rising healthcare expenditures. Anticipating significant growth by 2030, the Indian generic medicine industry is driven by factors such as increased demand for affordable medicines, a growing geriatric population, and a skilled workforce.
Our Generic Formulations business addresses this urgent need by offering more than 200 high-quality generic versions of expensive innovator medicines—at a fraction of the cost—in over 20 countries around the world. Despite this, an analysis of ten essential medicines per company reveals that companies have registered these products – identified as priorities for access – in 77 countries in scope, out of the 90 in which they have existing regulatory reach. Some of these products have been registered in very few LMICs, and analysis of the companies’ product registration practices in LMICs shows significant variation between companies.
With advanced manufacturing equipment, cutting-edge instrumentation, and state-of-the-art laboratories, Biodeal ensures the highest quality in drug manufacturing. One unexpected finding from the investigation is the increasing competition among the top companies. Despite the dominance of a few major players, smaller companies are also making their mark in the generic drugs market.