Noida, UP -- (SBWire) -- 01/17/2011 -- According to our new report “Booming US Generic Drug Market”, the US generic drugs market has witnessed a significant surge during the past few years. In 2009, the value of US generics market reached to the mark of US$ 74 Billion, which was estimated to cross US$ 80 Billion at the end of 2010. Several factors such as, expiring patents of blockbuster drugs, the government support, and high private investment have contributed to the remarkable growth in generics market. The market is likely to perform well in future also and it is expected that it will grow at the CAGR of around 10% during 2010-2013 to reach US$ 108.5 Billion.
Our report has found that patent expiration of major blockbuster drugs are acting as one of the biggest driver for the US generic drug industry. This trend is expected to boost the overall growth and revenue patterns in the US generics market. Branded drugs of companies like, Eli Lilly, Pfizer, Merck, AstraZeneca, Novartis, Johnson & Johnson, and others are set to lose patents by 2012.
Therefore, the presence of generics version of high cost branded drugs at lower prices is anticipated to create high demand for generics drugs in the US.
The report also describes some other key market trends that are likely to impact the US generics market. These trends have been identified after conducting an in-depth research of recent developments taking place in industry. The report also illustrates the importance and overview of the regulatory environment regarding generics in the US. For this, the profile and impact of various government legislatures have been included in the report.
“Booming US Generic Drug Market” provides extensive information of the US generics market and covers the potential of generic drugs in various therapy segments. New technologies and devices that may back industry in future are outlined in the report. Moreover, the forecast in key sections and segments of the report makes use of reliable methods and techniques mainly to provide effective future projections. The description and recent developments of key players has also been covered. Overall, the report is likely to facilitate investment and other decisions of clients.
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US Generics Market to Be Worth US$ 108.5 Billion by 2013
With major blockbuster drugs getting expired in coming days, the US generics market is expected to grow at the CAGR of 10% during 2010-2013, says RNCOS.