Generic Drugs Market is predicted to reach USD 874.36 billion at a CAGR of 7.85% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Generic Drugs Market”.

The Generic Drugs market is estimated to register a CAGR of 7.85% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the Global Generic Drugs Market— Sun Pharmaceutical Industries Ltd. (India), Lupin Pharmaceuticals, Inc. (India), Endo International plc (Ireland), Aurobindo Pharma (India), Aspen Holdings (South Africa), Teva Pharmaceuticals Industries Ltd. (Israel), Viatris Inc. (US), Cipla ltd. (India), Fresenius SE & Co. KGaA (Germany), and Novartis AG (Switzerland).

Global Generic Drugs Market Highlights

The global Generic Drugs market is expected to register a CAGR of 7.85% during the forecast period and is estimated to reach USD 874.36 billion by 2032.

Increasing incidences of chronic diseases across the globe and rising strategic initiatives by market players are the major factors driving the growth of the global generic drug market. However, voluntary product recalls from market players are expected to hamper the growth of the global market. Nevertheless, investment in research and development (R&D) for generic drugs is anticipated to create lucrative opportunities for the market.

Access Full Details on Global Generic Drugs Market Research Report

Segment Analysis

The global Generic Drugs market has been segmented based on Type, Brand, Indication, Route of Administration and Distribution Channel.

On the basis of the type, the market is segmented into simple generics and super generics. The simple generics segment held the majority share in the market in 2023. Simple generic drugs are widely prescribed due to its easy availability. Furthermore, the rise in prevalence of chronic diseases such as hypertension, asthma and COPD will further drive the simple generics segment.

On the basis of the brand, the market is segmented into pure generic and branded generic. The pure generic segment held the largest market share in 2023 and the branded generic is the fastest-growing segment during the forecast period. Branded generics are marketed under a brand name chosen by the manufacturer. They may be perceived as having higher quality or better efficacy compared to pure generics due to branding and marketing efforts.

On the basis of indication, the market is segmented into central nervous system (CNS), cardiovascular, urology, oncology, respiratory, and others. The oncology segment held the largest market share in 2023, and cardiovascular segment is the fastest-growing segment during the forecast period i.e., 2024-2032. Oncology drugs are essential for treating various types of cancer, including breast cancer, lung cancer, prostate cancer, leukemia, and lymphoma. Furthermore, rise in cancer cases and growing research-related activities in the pharmaceutical industry will drive the segment growth.

On the basis of the route of administration, the market is segmented into oral, topical, parenteral, and others. The oral segment held the largest market share in 2023 and parenteral is the fastest-growing segment during the forecast period i.e., 2024-2032. Oral dosage form has advantages such as ease of administration and no nursing requirements which leads to higher patient acceptability and compliance and efficacy to fight against disease such as pneumonia and respiratory infections.

On the basis of the distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment held the largest market share in 2023 and online pharmacy is the fastest-growing segment during the forecast period i.e., 2024-2032. Online pharmacies provide comfort, flexibility, and convenience for the purchase of medications and can reach a wide patient pool across the globe.

Regional Analysis

The global generic drugs market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe generic drugs market comprises of Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Generic Drugs market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Generic Drugs market comprises of Middle East, Africa, and Latin America.

North America generic drugs market is experiencing significant growth, driven by factors such as high prevalence of chronic diseases, technological innovations, and stringent government regulations, and the presence of established drug manufacturer and suppliers in North America.

Europe Generic Drugs market is witnessing notable growth, fueled by various factors contributing to the demand for surgical gloves. The region's sophisticated healthcare infrastructure, coupled with a rising incidence of chronic diseases, drives the need for generic drugs. Furthermore, rising geriatric population increases the demand which will directly contribute to the market growth of generic drugs.

The Asia Pacific Generic Drugs market is experiencing substantial growth, propelled by a confluence of factors that underscore the increasing demand for Generic Drugs in the region. The robust economic development, expanding healthcare infrastructure, and government initiatives and investments contribute to the market's expansion.  

Moreover, the Rest of the World is segmented into the Middle East, Africa, and Latin America. The Generic Drugs market in the above-mentioned regions is witnessing noteworthy growth, driven by a convergence of factors highlighting the escalating demand for Generic Drugs in these regions. With evolving healthcare infrastructures and rising government support for business establishment of key players, the market is experiencing a surge in demand.

Key Findings of the Study

• The global Generic Drugs market is expected to reach USD 874.36 billion by 2032, at a CAGR of 7.85% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Based on indication, the oncology segment was attributed to holding the largest market in 2023.


• Teva Pharmaceuticals Industries Ltd. (Israel), Novartis AG (Switzerland), Viatris Inc. (US), Sun Pharmaceutical Industries Ltd. (India), and Fresenius SE & Co. KGaA (Germany) are the key market players.