PUBLISHER: MarketLine | PRODUCT CODE: 1930563
PUBLISHER: MarketLine | PRODUCT CODE: 1930563
Global Generics industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume , and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
A generic drug is defined as a copy of an ethical (prescription) drug formerly protected by patents that have now expired. Both unbranded generics and branded generics are included in our market scope. However, off-patent drugs that continue to be offered by the original manufacturer under the original name, and which form part of the 'generic-eligible' market, are not included. Market value is evaluated at ex-factory prices. Market volume refers to the proportion of the total ethical pharmaceutical market in a country or region that is made up of generic drugs. Thus, it is a measure of the market share held by generics, rather than a direct measure of the total market volume. Regional volumes are calculated as averages of countries that comprise the region where volume data exists.
All market data and forecasts are based on nominal prices, and all currency conversions used in the creation of this report have been calculated using yearly average exchange rates. The USD values may show a declining trend for a few countries, such as Argentina, Turkey, Nigeria, Egypt, and Russia. This is primarily because of the impact of exchange rates considered.
The global generics market recorded revenues of $426.7 billion in 2024, representing a compound annual growth rate (CAGR) of 7.7% between 2019 and 2024.
Market consumption volume increased with a CAGR of 1.3% between 2019 and 2024, reaching a total of 72.9% of total pharma volume in 2024.
In 2024, the revenue of the global generics market experienced an annual growth of 8.1%. The market's growth is driven by the rising prevalence of chronic diseases such as diabetes, hypertension, and cardiovascular conditions, increasing the demand for affordable, long-term medications.