IMARC Group, a leading market research company, has recently released a report titled “Europe Generic Drug Market Report by Segment (Unbranded Generics, Branded Generics), Therapy Area (Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, and Others), Drug Delivery (Oral, Injectables, Dermal/Topical, Inhalers), Distribution Channel (Retail, Hospital), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the Europe generic drug market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Europe Generic Drug Market?
The Europe generic drug market size reached US$ 61.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 110.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
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Europe Generic Drug Market Trends and Drivers:
The Europe generic drug market is primarily driven by the increasing healthcare costs and the escalating demand for more affordable medication options. Moreover, the patent expiration of numerous blockbuster drugs is opening the market to generic counterparts, offering similar therapeutic benefits at a fraction of the cost. Additionally, the government authorities of European countries are implementing measures to expedite the approval process for generic drugs, which is acting as another significant growth-inducing factor for the market.
Besides this, the escalating cases of chronic diseases, along with the growing aging population in the country, are further propelling the growth of the Europe generic drug market. Moreover, the shortages of brand-name drugs on account of manufacturing issues, regulatory challenges, and supply chain disruptions are resulting in an increased utilization of generic alternatives, which is creating a positive outlook for the overall market. Besides this, technological advancements in drug development and manufacturing processes to facilitate more efficient and cost-effective production are further catalyzing the growth of the market. Additionally, collaborations between research institutions, healthcare facilities, and pharmaceutical companies to accelerate the distribution and commercialization of generic drugs are anticipated to propel the growth of the Europe generic drug market in the coming years.
Europe Generic Drug Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Segment:
- Unbranded Generics
- Branded Generics
By segment, the market is categorised into unbranded generics and branded generics.
Breakup by Therapy Area:
- Central Nervous System
- Cardiovascular
- Dermatology
- Genitourinary/Hormonal
- Respiratory
- Rheumatology
- Diabetes
- Oncology
- Others
By therapy area, central nervous system represented the largest segment because of high prevalence and increasing demand for treatments related to mental health and neurological disorders in Europe.
Breakup by Drug Delivery:
- Oral
- Injectables
- Dermal/Topical
- Inhalers
By drug delivery, oral represented the largest segment due to its ease of administration, patient compliance, and widespread applicability across various drug types.
Breakup by Distribution Channel:
- Retail
- Hospital
By distribution channel, retail pharmacies represented the largest segment as they offer accessibility, convenience, and a broad range of generic drugs to the general public.
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Country wise, the market is segmented into Germany, France, the United Kingdom, Italy, Spain, and others.
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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