Transparency Market Research Report Added "Generic Drugs Market" to its database.
Albany, NY -- (SBWIRE) -- 01/21/2016 -- As patent expiry looms, the blockbuster drug manufacturers are increasingly finding it difficult to focus on extending the lifecycle of the products they manufacture. The market for generic drugs, has, therefore, expanded rapidly worldwide, and is expected to incredibly thrive between 2012 and 2018. Generic drugs include medications with the same chemical compositions and possess characteristics as their blockbuster variants. Unlike the branded or blockbuster drugs, generic drugs do not display their brand names on the package but are marketed by names of their chemical composition.
An upcoming report by Transparency Market Research (TMR), "Generic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 – 2018," focuses on the various factors impacting the growth trajectory of the global generic drugs market between 2012 and 2018.
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Based on type, the global generic drugs market can be segmented into super generics, simple generic, and biosimilars. The market can segmented into anti-infective drugs, respiratory products, cardiovascular products, anti-cancer drugs, central nervous system drugs, anti-arthritis drugs, and others, in terms of its therapeutics applications.
The fact that generic drugs are more cost-effective gives the generic drugs market a competitive edge over blockbuster drugs. The generic drugs industry is based on the premise that patented drugs have a lifespan of 20 years, starting from their phase of clinical trials. The commercial lifespan of patented drugs thus gets reduced to 15 years. With impending patent expiry, the manufacturers of blockbuster drugs often face fierce competition from generic drugs makers.
The generic drugs industry has gradually gained momentum over the past few years as the industry supply chain network participants, such as retailers, wholesalers, benefit managers, and pharmacies are also reported to have benefited from the sale of generic drugs, which has subsequently increased their profit margins.
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As competition from their generic contemporaries poses an increasing threat to the blockbuster drugs industry, manufacturers are starting to adopt more vigorous defense mechanisms to protect their profit margin and market share. The strategies adopted by the branded drug makers however, did not deter leading players in the generic drug industry from going ahead with their expansion plans. The generic drug industry is closely following the defensive strategies by branded drug enterprises. To combat their branded counterparts, the generic drug makers are adopting partnering and licensing strategies to successfully launch new products in the market, and ensure they flourish amidst prevailing competition. Such factors are expected to give a significant boost to the global generic drugs market.
TMR's upcoming report on the generic drugs industry aims to present a comprehensive overview of the market with key insights into the factors impacting it over the forecast period. The report also includes exhaustive data intended to update stakeholders about the market's prevailing dynamics and development status.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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