Top 10 Companies in Generic Drug Market in 2024

While such policies have the potential to increase domestic production of essential medicines, it will not be sufficient to cover an increasing list of generics shortages. We’re able to make these medicines affordable because we manage the entire value chain – from producing the active ingredients to developing formulations to distributing them through our streamlined supply chain. We leverage our inherent strength—one of the largest manufacturing bases in India—to provide a distinct cost advantage for our customers. Our in-depth knowledge of regulation and intellectual property also helps us to bring high-quality, regulatory-compliant medicines within reach of millions throughout the world. The global market for generic drugs is expected to grow from $435.3 billion in 2023 and projected to reach $655.8 billion by the end of 2028, at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2028. Ratiopharm is a pharmaceutical company that offers a wide range of prescription and over-the-counter medications, as well as generic versions of existing drugs.

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Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history. Driven by Knowledge and Services, InviMeds to become essential to its customers by providing access to most advanced treatment medicines and related services to help improve people’s quality of life. Recent studies reveal concerning trends in the availability and pricing of generic drugs for Hepatitis B and C. Despite reduced pharmacy prices, out-of-pocket costs for entecavir, a generic Hepatitis B antiviral, increased for privately insured patients from 2014 to 2018. Additionally, certain Medicare Part D plans failed to cover generic Hepatitis C drugs in 2019, resulting in missed savings opportunities. The export of generic medicines enables countries to share their pharmaceutical resources and expertise with others.

• By addressing the challenges and seizing the opportunities, generic medicine manufacturers can ensure that high-quality, safe, and effective medications are available to those who need them most.
• Its primary business is generic medications, but it also deals in active pharmaceutical ingredients and, to a lesser extent, patented pharmaceuticals.
• This indicates a dynamic and evolving landscape, with room for new entrants and innovative approaches.
• With a portfolio covering various therapeutic areas including anti-tumor, anti-infection, and cardiovascular, Hisun Pharmaceutical is dedicated to delivering world-class quality medications and making crucial contributions to human life and health.
• With over 20 years of experience, GALPHARMA is dedicated to providing high-quality medications across various therapeutic classes to meet the daily needs of patients with acute and chronic illnesses.
• Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs.
• The nation emerges as the global leader, fulfilling over 50% of the global demand for generics.
• We’re able to make these medicines affordable because we manage the entire value chain – from producing the active ingredients to developing formulations to distributing them through our streamlined supply chain.

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Viatris Inc. is a global healthcare firm founded in November 2020 by the merger of Mylan and Upjohn. Viatris seeks to provide improved access to inexpensive, high-quality medications for patients worldwide, regardless of region or circumstance, by combining the assets of these two businesses. Laurus Labs is an innovative company with world-class research capabilities, specializing in the manufacturing and marketing of pharmaceutical products. Laurus Labs is committed to developing new cures, building a profitable business, and improving the quality of life through affordable medicines.

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The pharmaceutical industry plays a critical role in the worldwide economy, providing essential medications to people around the globe. One of the sub-industries within pharmaceuticals is the generic drugs sector, which focuses on producing affordable versions of brand-name drugs. The top 10 generic drugscompanies in the world represent the pinnacle of innovation, efficiency, andcommitment to providing high-quality and affordable medications to millions ofpatients worldwide. These companies have demonstrated exceptional growth, strategicforesight, and operational excellence, enabling them to navigate complexregulatory environments and fierce competition within the pharmaceuticalindustry.

Top 10 Companies in Generic Drug Market in 2024

Their responsibilities include compliance with health, safety, and regulatory standards, and ensuring the efficacy and quality of the products. The industry plays a crucial role in enhancing global healthcare systems, offering affordable alternatives to more expensive branded drugs. Future growth and expansion of the industry are projected due to factors such as growing drug patent expiracies and an increasing emphasis on cost-effective healthcare solutions.

• This blog post will discuss the importance of generic medicines in addressing healthcare disparities and their potential to improve health outcomes worldwide.
• India excels in generic medicine production, commanding 20% of global supply and leading vaccine manufacturing.
• Generic medicines, synonymous with cost-effectiveness, emerge as pharmaceutical counterparts to brand-name drugs.
• The Indian pharmaceutical industry has evolved significantly over the past few decades, transforming from primarily domestic to global.
• This growth has been fueled by a commitment to research, development, and a focus on producing cost-effective generic drugs.

Top 10 Globally Leading Companies in The Generic Drug Market

Ciplais a global pharmaceutical enterprise deeply committed to enhancingaccessibility and affordability of medications for individuals in need. Itsdiverse product portfolio encompasses complex generics and medicationstargeting respiratory, anti-retroviral, urology, cardiology, anti-infective,CNS, and various other critical therapeutic segments. With an extensive rangeof offerings, the company is focused on strengthening its presence in keydomestic markets such as India, alongside South Africa, North America, andother pivotal regulated and emerging markets.

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The generic drugs industry is a sector that focuses on the production and distribution of medications that are bioequivalent to brand-name drugs but are sold under their generic names. There are several types of companies in this industry, including large multinational pharmaceutical companies, smaller local manufacturers, and distributors. These companies offer a wide range of generic drugs across various therapeutic areas such as cardiovascular health, respiratory health, and more. The industry is constantly evolving, driven by advancements in technology, increasing demand for affordable medications, and government policies aimed at promoting generic drug use. As the healthcare industry continues to prioritize cost-effective solutions, the generic drugs industry is likely to experience steady growth in the coming years. Sandoz Group AG is a leading global pharmaceutical company specializing in generic and biosimilar medicines.

Growing Patient Population of Chronic Diseases

The company operates in more than 175 countries worldwide and some of the key markets include the United States, Canada, the United Kingdom, Germany, Japan, China, Brazil, and Australia. Teva Pharmaceuticals Industries Ltd. is a well-known brand in the pharmaceutical industry and is recognized for its quality generic drugs that are affordable, making them accessible to a larger patient population, especially in developing countries. As a manufacturer of generic drugs, Teva has an extensive product portfolio covering a variety of therapeutic areas, such as central nervous system disorders, respiratory diseases, cardiovascular diseases, and oncology. The company has entered into strategic partnerships with other pharmaceutical companies to develop generic drugs and expand its patient base. A world leader in generic drug manufacturing with operations in North America, Europe, Asia, and Latin America, Teva has a strong distribution network with a presence in over 60 countries.

• They have a strong focus on healthcare innovation and improving access to life-saving treatments.
• The inception of generic medicine in India dates back to the post-independence era in 1947 when the pharmaceutical landscape was dominated by foreign companies, holding over 90% of the market share.
• With a focus on affordability and accessibility, Mylan expanded its reach worldwide, particularly in emerging markets.
• Thirdly, they have developed strong distribution networks, enabling them to reach diverse markets and provide affordable drugs to a wide range of customers.
• With an extensive rangeof offerings, the company is focused on strengthening its presence in keydomestic markets such as India, alongside South Africa, North America, andother pivotal regulated and emerging markets.

Sun Pharmaceutical Industries Ltd.

They also possess strong relationships with healthcare providers, enabling them to collaborate on drug development and distribution. Moreover, they have a strong focus on customer-centricity, prioritizing patient needs and delivering value through their generic drug offerings. Drawingfrom over 50 years of experience in manufacturing active pharmaceuticalingredients (APIs), Cipla has developed over 200 generics and complex APIs. Thecompany is eager to collaborate with leading generic firms to introduce newproducts, thus expanding its presence in markets such as Japan, Korea, andBrazil.

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India excels in generic medicine production, commanding 20% of global supply and leading vaccine manufacturing. With over 3,000 pharmaceutical companies and 10,500 manufacturing facilities, India boasts a robust industry. Producing 60,000 generic brands across 60 categories, India meets substantial global demand and provides affordable HIV treatment. Generic medicines play a crucial role in bridging healthcare gaps on a global scale by providing affordable and accessible healthcare solutions. This blog post will discuss the importance of generic medicines in addressing healthcare disparities and their potential to improve health outcomes worldwide.

Once a brand-name drug’s patent expires, other manufacturers can produce generic versions, increasing accessibility to affordable medications for consumers. Thecorporation offers over 1,600 commercial products spanning a wide spectrum ofillnesses and therapeutic areas. These include anti-retrovirals and treatmentsfor tuberculosis, acute and chronic generic drugs, branded medications,specialized sterile products (such as those for thrombosis, oncology, andanesthesia), emergency medications, and vaccines. FreseniusKabi offers an extensive range of intravenously administered generic drugsspanning various therapeutic categories including oncology, anesthetics &analgesics, anti-infectives, and critical-care medications. Asthe 10th largest generics company in the United States, Sun Pharma possesses aformidable research and development infrastructure, equipped to developtechnologically advanced products in both generics and specialty segments.

They possess a well-diversified portfolio of over 200 generic medicines and a strong presence in both developed and emerging markets. Based on type, the pure generic drugs segment dominated the market in 2023 and held more than half of the global market share, 51%. Therefore, the upper hand of the pure generic drugs segment is predicted to continue during the forecast period. The cost-effectiveness of these drugs and the growing adoption of pure generic drugs in developing countries primarily drive the segment’s growth.

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The company operates across various regions, including Sub-Saharan Africa, South East Asia, Latin America, Eastern Europe, Western Europe, and the Commonwealth of Independent States. Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland that focuses on the discovery, development, manufacture and marketing of prescription and generic pharmaceutical products and eye care products. The company develops and manufactures medications to treat cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, hematologic diseases, solid tumors, immune disorders, and infections.

He excels at analysing complex market trends and producing comprehensive, actionable reports that help companies foster innovation and enhance end user experience. Also, his ability to tailor research solutions to the specific needs of healthcare clients, combined with his collaborative approach with industry stakeholders, has made him an invaluable resource in navigating the intricate healthcare market. Anil’s work empowers companies to seize emerging opportunities and achieve sustainable success. Sun Pharmaceutical Industries Limited is a Mumbai-based Indian multinational pharmaceutical firm that develops and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. Its API products include Acamprosate Calcium, Alendronate Sodium, Amifostine trihydrate, Budesonide, and Carvedilol.

India asserts its dominance by claiming a substantial 20% share in the global generic drug market, securing its position as the largest international provider. The nation emerges as the global leader, fulfilling over 50% of the global demand for generics. Projected to reach $65 billion by 2024 and $130 billion by 2030, India’s pharmaceutical sector demonstrates significant growth potential from its current $50 billion valuation. With exports to over 200 countries, India fulfills crucial global medicine needs, serving as a key healthcare provider. In India, for example, the ‘Pradhan Mantri Bharatiya Janaushadhi Pariyojana’ scheme is pivotal in the nation’s efforts to increase the domestic availability of low-cost generics.

In contrast to branded products, generic drugs have the same API pharmacokinetic and pharmacodynamic properties. It is also bioequivalent to currently available branded drugs but differs in fillers, preservatives, form, packaging, and flavor. Branded drug manufacturers spend money on research and development and ads for their new products, and they are granted a monopoly for a set period. However, when a patent expires, manufacturers may ask the FDA for permission to produce generic drugs. Consequently, generic medications are less expensive than marketed drugs, and almost 80% of prescription drugs are generic. Metformin, metoprolol, amphetamine salt combo, acyclovir, bupropion HCL tablet, cholestyramine, ibuprofen tablet, letrozole, and verapamil are some examples of generic drugs.

• Another prominent Indian pharmaceutical company, Dr. Reddy’s Laboratories is a leading player in the global generics market.
• CVDs are one of the leading causes of death worldwide, including heart failure, circulatory disorders, high blood pressure, cholesterol, dyslipidemia, angina, arrhythmias, and stroke.
• In 2024, we expect key pharmaceutical companies to see patent expiries for their drugs, which will cause reduced revenue and an increase in generic manufacturing of these drugs and more competition.
• They have a deep understanding of regulatory frameworks and compliance requirements, allowing them to navigate complex approval processes smoothly.
• Despite this foreign dominance, India has emerged as a significant global player in the generic medicine market, marking key milestones in its history.
• They specialize in pharmaceutical trading, contract development and manufacturing, and pharmacovigilance.
• SOTHEMA is a 100% Moroccan pharmaceutical company specializing in the manufacturing and sale of medicines since 1976.
• Notably,in the Generics segment, STADA introduced Sugammadex, Fampridin, and Apixabanin 2023, providing healthcare practitioners and patients with additionaltherapeutic options.
• The journey of Indian pharmaceutical companies exemplifies a synergistic blend of economic viability and social responsibility, positioning them as true leaders in the pursuit of global health equity.
• Driven by Knowledge and Services, InviMeds to become essential to its customers by providing access to most advanced treatment medicines and related services to help improve people’s quality of life.

This research report on the global generic drugs market has been segmented and sub-segmented based on the type, application, and region. Genpharma is a pharmaceutical laboratory specializing in the development, production, and commercialization of generic drugs. With a capacity of 120 million boxes, Genpharma aims to increase its strategic position as a leader in the Moroccan generic market. They have also expanded internationally, with presence in 20 countries in Africa and the Middle East. Notable contributions include 40% of generics in the U.S., 25% in the U.K., 60% of global anti-retroviral drug supplies, and fulfilling 30% of UNICEF’s annual requirements. In November 2023, US President Joe Biden announced a strategic pivot towards reducing dependence on foreign-made drugs and Active Pharmaceutical Ingredients (APIs), highlighted by a USD35mn investment in domestic API production.

In South East Asia, Thailand has implemented the ‘National List of Essential Medicines’, which prioritises generics in government procurement and healthcare delivery, ensuring that the public healthcare system provides cost-effective treatment options. As these diverse initiatives unfold, they highlight a shared commitment to expanding the reach of high-quality generic medicines. Beximco Pharmaceuticals Ltd. is a company that specializes in the manufacturing and marketing of generic pharmaceutical products. They offer a wide range of high-quality and affordable medicines for various therapeutic areas.

With a focus on quality medicines and ethical business practices, Teva strives to deliver innovative healthcare solutions and increase access to essential medications. Indian generic medicines have achieved global recognition, with pharmaceutical companies producing high-quality alternatives that are widely accepted in international markets. Generic medicines play a vital role in enhancing healthcare accessibility, particularly in low- and middle-income countries where financial constraints hinder access to essential treatments. Their cost-effectiveness serves as a practical solution, bridging the availability gap between developed and developing nations. Additionally, by enabling broader production and distribution, generic drugs help alleviate medicine scarcity in underserved regions, contributing significantly to global health equity and addressing healthcare disparities worldwide.

DOC PHARMA exports its products to various European countries and has the potential for global expansion. Abbott, founded in 1888, is a global healthcare company renowned for its generic drug division offering a broad range of pharmaceuticals across therapeutic areas like cardiovascular, CNS, and women’s health. With a focus on quality, affordability, and innovation, Abbott continues to expand its portfolio through strategic acquisitions and R&D investments, ensuring the delivery of high-quality, accessible healthcare solutions worldwide. Aurobindo Pharma has established itself as a significant player in the global generic drug market with a substantial presence in critical markets worldwide, including the United States and Europe. The Fresenius SE & Co. consists of the operating Companies Fresenius Kabi and Fresenius Helios and the Investment Companies Fresenius Medical Care and Fresenius Vamed.

With a focus on research and development, they provide innovative and affordable healthcare solutions to improve the well-being of individuals globally. While cost-effectiveness is critical, Indian pharmaceutical companies have not compromised quality. Stringent regulatory frameworks and adherence to international quality standards have elevated the credibility of Indian generic drugs.

Leveraging strategic partnerships and investments in R&D, the company continues to expand its offerings and enhance its manufacturing capabilities to meet the evolving needs of healthcare providers and patients worldwide. The global pharmaceutical industry faces a significant challenge in ensuring access to essential medicines, particularly in emerging markets where affordability and availability are major concerns. The generics industry plays a critical role in addressing this issue, offering cost-effective alternatives to branded medications. This article explores the role of generics in expanding access to medicines in emerging markets, highlighting the challenges and opportunities that exist. The role of Indian pharmaceutical companies in improving healthcare access worldwide through high-quality generic drugs is commendable and pivotal.

They’re considered the most effective because the drug’s bioavailability is higher through this route than the others. The market in the Middle East and Africa is expected to hold a moderate share of the worldwide market during the forecast period. The rising number of improvements in the healthcare infrastructure and healthcare system of MEA countries is favoring the generic drugs market in MEA.

Specializing in affordable alternatives to brand-name medications, Teva offers a diverse portfolio covering various therapeutic areas. Despite facing challenges like pricing pressures, the company remains committed to accessibility and quality, continually optimizing its offerings through R&D and strategic initiatives. FreseniusKabi is a prominent player in the generic IV drug sector, boasting a strongpresence in both the U.S. and European markets. Specializing in therapeuticsolutions for critically and chronically ill patients, the company’s diverseportfolio encompasses biopharmaceuticals, clinical nutrition, MedTech products,generic IV drugs, and IV fluids.

With locations in San Giorgio a Cremano and Pomezia, Italy, they provide quality medications and collaborate with industry partners. The company values privacy and adheres to policies to ensure the security of their customers’ personal data. Intas is a leading multinational pharmaceutical formulation development, manufacturing, and marketing company. They operate in more than 85 countries and have a strong presence in highly regulated markets like the EU and US. With a focus on good health and happiness, Intas offers a wide range of high-quality pharmaceutical products globally.

The APAC region is undergoing a significant transformation due to an ageing population, especially in Japan, China and South Korea. As these populations age, there is a corresponding increase in the prevalence of chronic diseases, which in turn raises the demand for affordable long-term medication. Generic drugs, being less expensive than their branded counterparts, are thus in higher demand to manage healthcare costs for this growing segment of the population. Nonetheless, the FDA’s stringent approval and distribution process restrict the expansion of the generic drug industry. For instance, Sun Pharma recalled 747 bottles of generic diabetes medication in October 2020 because they could contain cancer-causing nitroso dimethylamine above the limit. Emerging markets like India and China are supposed to generate more opportunities for the generic drugs market.

Fresenius Kabi produces generic drugs as a subsidiary of the company, leading a major growth area in healthcare. In addition to its global reach, Fresenius Kabi has subsidiaries and sales offices in over 100 countries, giving the company an opportunity to serve a broad range of customers. In addition to providing system-critical products and services for critical and chronically ill patients, the company has a strong distribution network, which allows it to efficiently distribute products worldwide. As part of its research and development efforts, Fresenius Kabi develops new generic drugs and pipeline products.

Alvogen is a global pharmaceutical company that develops, manufactures, and sells generic, brand, over-the-counter, and biosimilar products. The cost-effectiveness of generic medications has increased demand for the generic drugs market. Generic drugs increase competition in the industry, leading to a drop in prices and more people being prescribed generic drugs by healthcare providers. Generic drugs are 85 % less expensive than conventional drugs, so in the United States, 9 out of 10 prescriptions are filled with generic drugs, saving almost $2.2 trillion over the past decade. The company is dedicated to providing affordable and high-quality medicines while promoting sustainability.

Moreover, Cipla is actively pursuing strategies to deepen itspenetration in the generic distribution channel through digital platforms,engaging directly with retailers. By March 2023, it had onboarded over 135,000retailers, facilitating enhanced enzalutamide price in singapore market outreach and accessibility. Proactive implementation of quality control measures, including adherence to good manufacturing practices (GMP) and stringent quality checks, ensures the safety and efficacy of Indian generic medicines.

With a robust network of 43 manufacturingfacilities, the company delivers high-quality, cost-effective medicationstrusted by healthcare professionals and patients across more than 100 countriesworldwide. With a focus on innovation and customer satisfaction, Aurobindo Pharma offers a wide range of healthcare products globally. Generic drugs sales are facing increasing challenges in the US, mainly due to pricing pressures. Politicians are beginning to target the high costs of medicine through the inflation reduction act and other ongoing legislation, with undifferentiated generic drugs being targeted for such cost controls. This has led many US and foreign generic drug companies to lower their expectations for growth in the US.