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Looming Patent Expirations Driving Growth in Generic Drugs Market: TechNavio Report

Key Vendors Include Actavis plc, Mylan Inc., Novartis International AG (Sandoz), STADA Arzneimittel AG, and Teva Pharmaceutical Industries Ltd.

 
PRLog - Mar. 19, 2014 - LONDON, U.K. -- TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Global Generic Drugs Market, which finds patent expirations, as well as mergers and acquisitions as major growth drivers in a market that is seeing a CAGR of 11.02 percent for the forecast period of 2014-2018.

Generic drugs are copies of patented brand name drugs that have identical dosage form, potency, route of administration, quality, and intended use as the originals but generally cost 50-70 percent less.

It is expected that branded drugs with sales of up to US$135 billion will go off-patent by 2015, giving generic pharmaceutical companies enormous chances to capitalize on the market. One such drug is the antidepressant Lexapro, which recently came off patent. Both Mylan Pharmaceuticals as well as Teva Pharmaceuticals are releasing generic versions of the drug.

Additionally, mergers and acquisitions are dramatically changing the global healthcare and pharmaceuticals landscape. Generic drug vendors are using mergers as a core growth strategy in order to rapidly expand business. One of the leading vendors in the market, Actavis plc recently acquired Forest Laboratories—the original distributor of Lexapro.  This is just the latest in a string of mergers that have positioned Actavis as a top dog in pharmaceuticals. In November 2012, the company acquired Watson Pharmaceuticals and became the third largest generic pharmaceutical company across the globe, with operations in more than 60 countries. In October 2013, Actavis acquired Warner Chilcott plc for approximately US$8.5 billion.

To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

If you are interested in more information on this topic and our upcoming research on the Global Generic Drugs Market 2014-2018 (http://www.technavio.com/report/global-generic-drugs-mark...), please send an e-mail to media@TechNavio.com

About TechNavio

TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.

TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Generic Drugs Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.

Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.

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TechNavio Media Relations
***@technavio.com

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Source:TechNavio
City/Town:London - London - United Kingdom
Industry:Reports, Technology
Tags:generic drugs, actavis, lexapro, patent expiration, market research
Shortcut:prlog.org/12297629
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