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Follow on Google News | Growth in the Generic Drug Market Will be Critical in Cutting down Rising Healthcare CostsGeneric drugs are expected to witness strong growth in both developed and emerging markets.
By: Imarc Group IMARC Group, a leading market research company based in India, finds that the market has grown at a CAGR of around 10% during 2010-2015. According to its latest report entitled "Generic Drug Market: Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue", healthcare costs on account of rising aging population and an increasing prevalence of chronic diseases have been rising robustly across the globe. Substitution of low-cost generic drugs for innovator products has proved to be a successful strategy in reducing healthcare costs. As a result, Governments and healthcare providers in both developed and emerging markets have identified the growth of the generic market as imperative to their country's long term economic health. Read full report on generic drug market with TOC: http://www.imarcgroup.com/ The report provides a comprehensive analysis on the global generic market and has segmented this market on the basis of key regions. The report finds that the US currently represents the world's biggest market for generic drugs, followed by China, Europe, India, Brazil, and South Korea. The report also expects that driven by patent expiries of a number of blockbuster branded drugs and the huge cost savings that can be potentially achieved from the utilisation of generics, the market for generic drugs will witness strong growth in both developed and emerging markets. Findings from the report also suggest that the market for generic drugs has low concentration with low entry barriers encouraging a number of new players to enter this market. As a result, the market is highly competitive with a significant price erosion. Some of the larger players in this market such as Teva Pharmaceuticals, Novartis, Actavis, Mylan, Sun Pharmaceuticals, etc. are, however, still able to maintain a high profitability as a result of global diversification and launching speciality products. This new report provides a comprehensive understanding on the dynamics of the global generic drug market. The study effectively provides both macro and micro elements of the industry like market drivers, challenges, competitive landscape, pricing, key regions, manufacturing process, raw material requirements, project cost, project economics, machinery details, value chain, expected returns on investment, profit margins, etc. This report can act as an excellent tool for anyone who plans to enter the generic drug market. Enquiry for sample report or more details, click here: http://www.imarcgroup.com/ Contact Us IMARC Group Tel: +91-120-415- USA: +1-631-791-1145 Email: sales@imarcgroup.com Website: http://www.imarcgroup.com Follow us on twitter: @imarcglobal End
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