Generic Drugs Market: Size, Growth, Regional Analysis, And Market Analysis
Generic Medications: Generic medications are drugs that have the same chemical makeup as an existing branded drug. These pharmaceuticals are less expensive and comparable to branded drugs in terms of dosage, strength, mode of administration, quality, performance, and application. Rather than being connected with a specific manufacturer, generic medications are subject to government restrictions in various nations. Market Growth: The Global Generic Drugs Market was valued at USD371.04 billion in 2020 and is expected to grow at a CAGR of 7.08 percent to USD564.43 billion by 2026. The rising prevalence of chronic diseases, diabetes, cardiovascular diseases, the growing geriatric population, rising healthcare expenditure, high demand for generic medicines, and a large number of patent-expired branded drugs are all contributing to the growth of the generic drugs market. However, the market is projected to be stifled by government rules and medicine side effects. The rising demand for newer