Worldwide Sales of Prescription Generic Drugs to Exceed $48 Billion By 2010
Posted on: Wednesday, 3 May 2006, 12:01 CDT
NEW YORK, May 3 /PRNewswire/ -- With numerous blockbuster drugs having lost their patents in the last few years, and more than 30 set to experience similar fate during the next four years, sales of prescription generic drugs are expected to soar past 2005 sales of $28.2 billion to reach upwards of $48 billion in 2010.
According to The World Market for Prescription Generic Drugs, a new study released today from Kalorama Information, 2005 revenues grew by 11.2% over 2004's $25.3 billion, and steady growth is expected to continue at similar growth rates over the next several years. With popular drugs such as Norvasc, Paxil, and Ambien expected to come off patent within the next eight months, anticipation is high within the generic community to capitalize on the phenomenal success of these and other brand name drugs.
Gone are the days of the stigma of generics simply being copycat drugs. A new breed of generic companies is emerging as a far greater threat to brand manufacturers, as the success of generics has spawned explorations into new drug targets, including specialty generics, generics with distinction, generic biologicals, and proprietary molecules.
"The generic landscape is rapidly changing as generic manufacturers are consolidating, using their corporate muscle to influence policy change, and upgrading their drug portfolios," notes Mary Anne Crandall, the report's author. "Consumers worldwide, particularly the elderly and those on fixed incomes, are also helping to drive success as their awareness of generics' cost savings and quality causes them to choose generics over brand name drugs."
This study examines the global market for generic prescription drugs in all major segments, including: anti-infective, allergy and respiratory, analgesics, NSAIDs and anti-rheumatic, anesthetic, cancer, cardiovascular, CNS, gastrointestinal, hormone, and ophthalmic drugs.
The World Market for Prescription Generic Drugs also includes market analysis and projections for each segment, comparative analysis of U.S. versus world markets, legal and regulatory issues affecting the market, and global market trends affecting growth. It can be purchased directly from Kalorama Information by clicking http://www.kaloramainformation.com/pub/1190851.html. It is also available at MarketResearch.com.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, a leading provider of industry-specific market research, supplies the latest independent market research on the life sciences. For more information, contact Tom Ehart at 240-747-3014 or tehart@marketresearch.com, or visit http://www.kaloramainformation.com/.
Kalorama Information
CONTACT: Tom Ehart of MarketResearch.com, +1-240-747-3014,tehart@marketresearch.com
Web site: http://www.marketresearch.com/http://www.kaloramainformation.com/pub/1190851.html
Source: PRNewswire
Related Articles
- Reportlinker Adds Injectable Drug Delivery: Market Impact and Industry Trends
- Reportlinker Adds Drug Delivery Markets: Oral Delivery Report
- Examine the World Intranasal Drug Delivery Market
- AT&T to Market and Sell DirecTV's Service As Co-Branded Television Service
- By the Beginning of 2009, the U.S. Market for Inhaled Albuterol Mdis Will Comprise Branded Products Exclusively
- CARIE at Front of Statewide Effort to Counter Drug Industry Marketing
- Attorney Shawn Khorrami Releases Commentary in Response to Government Inquiries Into Off-Label Drug Use Marketing By Pharmaceutical Companies
- New Study Titled Drug Delivery Systems Estimates That the US Drug Delivery Market Value Might Reach Nearly $85 Billion By 2010
- To Control Japan's Total Health Care Expenditures Devoted to Drugs, the Government Sets the Reimbursement Prices for New Branded Drugs
- Drugs From Sanofi-Aventis, Alizyme, and Arena Will Propel Obesity Drug Treatment Market to Over $1.5 Billion By 2014
 |
 |
User Comments (0)
RSS Feeds