Wellesley, Mass, March 08, 2017 (GLOBE NEWSWIRE) --
New proprietary research by BCC Research predicts the global generics market to reach $533 billion from 2016-2021, driven by pharmaceutical drugs facing patent expiry, the pressure to control healthcare costs, the rise of biosimilar drug technologies, and high-growth market activity in emerging regions.
BCC Research's Global Market for Generic Drugs reports the generics sector, which has consistently outperformed sales in the original brand market for the past five years, appears set for continued double-digit growth as cost containment efforts intensify and many of the great blockbusters mature and go off patent.
Research Highlights
- Generics, which already dominate several leading classes, are rapidly becoming the first-line option in many key therapy areas as fewer new pharmaceutical products reach market.
- Generic sales should register consistent growth in the five major European markets, aided by the loss of patent protection on an anticipated $20 billion of marketed products.
- The BRIC nations (Brazil, Russia, India and China) are among rising centers of generic activity.
"The generic drug markets in the BRIC region are taking off, as evidenced by the region's leading 10.7% CAGR from 2016-2021," notes Kevin Fitzgerald, BCC Research Editorial Director. "In China, generic sales are easily outpacing the overall pharma market growth. The increasing sophistication among domestic producers seems to be galvanizing the growth of generics."
Patent Protection Loss is Generics Gain
The value of small-molecule products facing loss of patent expiry in developed markets from 2014 to 2018 is estimated at $121 billion, compared to $154 billion from 2009 to 2013.
"The price of a generic copy may be around 60% of the original brand immediately after patent loss, while after a year, when several generic copies have appeared, the average price may have fallen to less than 20% of the original," says Fitzgerald. "BCC Research predicts the global generics market will capitalize as name drugs fall off, and continue to grow at an annual rate significantly higher than the pharmaceutical sector overall."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.