Generic Pharmaceutical Manufacturing in the US - Industry Market Research Report

Generic Pharmaceutical Manufacturing in the US - Industry Market Research Report

Generic Pharmaceutical Manufacturing in the US

The Generic Pharmaceutical Manufacturing industry is a globalized industry that manufactures drugs originally protected by patents. Revenue growth depends on patent expirations, FDA approvals of new drug applications and competition from foreign companies. Over the past five years, revenue has grown at a CAGR of 0.9% to $53.8 billion, which includes a 14.2% increase in 2023 alone. Unlike brand name drug manufacturers, companies in this industry have not benefited much from the COVID-19 pandemic. The main challenge for the industry has been to retain prices at acceptable levels. While prices for branded drugs have risen, prices for generic drugs have declined, contributing to a decline in profit.

Generic pharmaceutical and medicine manufacturers develop prescription and over-the-counter drug products that are used to prevent or treat illnesses in humans or animals. Generic drugs are produced and distributed without patent protection, and generic drug manufacturers are not significantly engaged in the research and development of new drugs. The industry does not include manufacturers of nutritional supplements or cosmetic beauty products.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.