Latest news with #LMICs
Korea Herald
25-05-2025
- Business
- Korea Herald
EDAN Highlights Commitment to Global Health at GHF 2025 Satellite Symposium, a Side Event of the World Health Assembly
GENEVA, May 25, 2025 /PRNewswire/ -- Edan Instruments, Inc. ( a leading global medical device company, participated in the Geneva Health Forum (GHF) 2025 Satellite Symposium, held as a side event of the World Health Assembly (WHA). Titled "China's Medical Technology Innovation and Its Implementation for Global Health," the event took place on May 20 in Geneva and was co-organized by Tsinghua University and the Université de Genève. It brought together innovators, policymakers, and development partners to explore how Chinese medical technology is advancing equitable healthcare, particularly in low- and middle-income countries (LMICs). Representing EDAN, Co-Founder Mr. Xicheng Xie delivered a keynote sharing the company's experience in delivering accessible innovation to underserved communities. "Real innovation isn't just about cutting-edge technology — it's about bringing the right solutions to the people who need them the most," said Mr. Xie, reflecting on the company's three-decade journey and the evolving meaning of innovation. In that spirit, Mr. Xie highlighted EDAN's efforts to develop medical technologies that are accessible, practical, and impactful in real-world settings. He shared detailed of an ongoing initiative using EDAN's Nano Series handheld diagnostic ultrasound system to support basic prenatal care in resource-limited environments. The project focuses on equipping primary healthcare workers with tools for early screening and timely referral for at-risk pregnancies. He also noted other impactful technologies, including palm-sized fetal dopplers, EDAN's IQ intelligent algorithm, and its smart ECG web platform — each designed to bridge infrastructure gaps and reduce reliance on scarce medical personnel. With a long-standing presence across both high-end and resource-limited markets, EDAN has built a truly global footprint – from Europe to Africa. To strengthen local engagement and ensure more responsive service, it has established 22 subsidiaries worldwide. This localized support, combined with a commitment to frontline feedback, drives continuous product improvement and meaningful impact. EDAN is also actively involved in a range of meaningful projects across LMICs, working alongside NGOs, public health agencies, and development partners. These include maternal health and women's care initiatives in South Africa, portable diagnostic deployments in West Africa, and ultrasound screening programs in Latin America. Each year, nearly 1,000 ultrasound devices are deployed globally through NGO-led programs. These partnerships not only expand access to essential care but also help build local capacity through training and support. "At EDAN, we believe in bringing innovation and value together to improve the human condition," Xie concluded. "That mission is at the core of everything we do — from product design to global partnerships." As EDAN celebrates its 30th anniversary in 2025, the company remains steadfast in its mission to deliver innovation that matters — especially for those who need it most.
Cision Canada
25-05-2025
- Business
- Cision Canada
EDAN Highlights Commitment to Global Health at GHF 2025 Satellite Symposium, a Side Event of the World Health Assembly
GENEVA, May 25, 2025 /CNW/ -- Edan Instruments, Inc. ( a leading global medical device company, participated in the Geneva Health Forum (GHF) 2025 Satellite Symposium, held as a side event of the World Health Assembly (WHA). Titled "China's Medical Technology Innovation and Its Implementation for Global Health," the event took place on May 20 in Geneva and was co-organized by Tsinghua University and the Université de Genève. It brought together innovators, policymakers, and development partners to explore how Chinese medical technology is advancing equitable healthcare, particularly in low- and middle-income countries (LMICs). Representing EDAN, Co-Founder Mr. Xicheng Xie delivered a keynote sharing the company's experience in delivering accessible innovation to underserved communities. "Real innovation isn't just about cutting-edge technology — it's about bringing the right solutions to the people who need them the most," said Mr. Xie, reflecting on the company's three-decade journey and the evolving meaning of innovation. In that spirit, Mr. Xie highlighted EDAN's efforts to develop medical technologies that are accessible, practical, and impactful in real-world settings. He shared detailed of an ongoing initiative using EDAN's Nano Series handheld diagnostic ultrasound system to support basic prenatal care in resource-limited environments. The project focuses on equipping primary healthcare workers with tools for early screening and timely referral for at-risk pregnancies. He also noted other impactful technologies, including palm-sized fetal dopplers, EDAN's IQ intelligent algorithm, and its smart ECG web platform — each designed to bridge infrastructure gaps and reduce reliance on scarce medical personnel. With a long-standing presence across both high-end and resource-limited markets, EDAN has built a truly global footprint – from Europe to Africa. To strengthen local engagement and ensure more responsive service, it has established 22 subsidiaries worldwide. This localized support, combined with a commitment to frontline feedback, drives continuous product improvement and meaningful impact. EDAN is also actively involved in a range of meaningful projects across LMICs, working alongside NGOs, public health agencies, and development partners. These include maternal health and women's care initiatives in South Africa, portable diagnostic deployments in West Africa, and ultrasound screening programs in Latin America. Each year, nearly 1,000 ultrasound devices are deployed globally through NGO-led programs. These partnerships not only expand access to essential care but also help build local capacity through training and support. "At EDAN, we believe in bringing innovation and value together to improve the human condition," Xie concluded. "That mission is at the core of everything we do — from product design to global partnerships." As EDAN celebrates its 30th anniversary in 2025, the company remains steadfast in its mission to deliver innovation that matters — especially for those who need it most.
The Hindu
23-05-2025
- Health
- The Hindu
A medical oxygen access gap SE Asia must bridge
Oxygen is a life-saving essential medicine with no substitute. Because of the complexity of the industrial production process, there are many challenges in access to medical oxygen such as availability, quality, affordability, management, supply, human resources capacity and safety. Some five billion people around the world lack access to safe, quality, and affordable medical oxygen. The Lancet Global Health Commission on medical oxygen security highlights a stark reality — that South Asia and East Asia and the Pacific have the highest unfulfilled demand for medical oxygen (the oxygen service coverage gap in these two regions is 78% and 74% respectively), and there is a clear and urgent need for action to rectify this. The COVID-19 pandemic exposed vulnerabilities in oxygen infrastructure, particularly in low- and middle-income countries (LMICs). While that crisis did trigger emergency interventions to alleviate the situation, long-term progress has been slow. A World Health Organization (WHO) report (2022), 'Promising practices and lessons learnt in the South-East Asia Region in accessing medical oxygen during the COVID-19 pandemic', points out that sustained investments and policy commitments are required to ensure that oxygen is available where it is needed most. WHO's Access to Medical Oxygen Resolution and The Lancet Global Health Commission on Medical Oxygen Security provide a road map for scaling up solutions, but its implementation requires urgent action. Governments, global health agencies, industry and civil society must come together to close the oxygen gap. This is an opportunity to create lasting and equitable access to a life-saving medical intervention. Challenges hindering oxygen access Several systemic barriers hinder the availability of medical oxygen, preventing its integration into health-care systems. The first is the shortage of equipment — only 54% of hospitals in LMICs have pulse oximeters and 58% have access to medical oxygen. Consequently, this gap in basic monitoring and supply infrastructure leads to delayed diagnoses, inadequate treatment and preventable fatalities, a deficiency that intensifies dramatically during severe respiratory outbreaks, let alone pandemics. Without the necessary diagnostic tools, health-care providers struggle to detect and manage oxygen deficiencies effectively. However, the issue extends beyond equipment availability. The financial burden associated with increasing oxygen access remains a major obstacle. Bridging the global oxygen gap requires $6.8 billion, with South Asia alone needing $2.6 billion. The reality is that many LMICs face competing health-care priorities, making it difficult to allocate substantial funding toward oxygen infrastructure. Therefore, efforts to improve oxygen access risk being short-lived without sustainable financing mechanisms. Compounding the challenge is the acute shortage of trained biomedical engineers and technicians. Even when oxygen plants and concentrators are available, a lack of skilled professionals to install, maintain and repair them can lead to frequent breakdowns. These deficiencies exacerbate disparities in access, especially in rural and underserved communities, where alternative solutions are often unavailable. There needs to be a long-term and multi-pronged approach that integrates innovation, investment and policy action. Transparency, data-driven decision-making, and a strong policy framework will be crucial. The WHO Access to Medical Oxygen Scorecard is a key tool in tracking progress and ensuring accountability, playing a pivotal role in monitoring progress on the WHO Oxygen Resolution. The resolution calls for reporting 'on progress in the implementation of this resolution to the Health Assembly in 2026, 2028 and 2030'. National governments should develop medical oxygen scale-up plans with support from WHO, to strengthen oxygen ecosystems, allocate resources effectively, and address infrastructure gaps. Tailoring these strategies to health-care needs can create sustainable, resilient oxygen delivery models. In South-East Asia, WHO has facilitated intra-regional cooperation between countries to build capacity. In partnership with Nepal's National Health Training Center, WHO facilitated training for biomedical engineers and technicians, leading to the installation of state-of-the-art PSA oxygen plants in Bhutan. The training will ensure sustainable operations and maintenance, and this model of cross-border collaboration can be replicated across LMICs. Infrastructure is insufficient Ensuring a stable oxygen supply requires strong partnerships between governments, the private sector and international organisations. WHO emphasises local manufacturing to reduce import dependence, cut costs, and improve accessibility. Decentralised production can address supply imbalances and enhance last-mile delivery. Innovations such as portable oxygen concentrators, solar-powered generators, booster pumps and community-based hubs can bridge accessibility gaps, especially in remote areas. Integrating these solutions into health-care plans can ensure that life-saving oxygen reaches every patient. Power disruptions hinder oxygen production in South-East Asia, as in many LMICs. In these low-resource settings, solar-powered oxygen systems are a cost-effective and low-maintenance innovation that ensures uninterrupted supply, lower costs and reduced grid dependence. Ethiopia and Nigeria have successfully implemented solar-powered oxygen delivery systems in remote health-care facilities, improving access and saving lives. The South-East Asia region should promote and invest in the solarisation of oxygen plants to ensure a stable supply amid energy insecurity and health crises. Strengthening oxygen ecosystems Bridging the oxygen gap requires a unified, multi-stakeholder approach. Governments should lead the way by integrating oxygen access into universal health coverage and emergency preparedness plans. A clear regulatory framework should be established to ensure the quality and the safety of medical oxygen, along with standardised protocols for storage, transportation and distribution. These measures will be needed for sustaining long-term availability of quality medical oxygen. The private sector must also invest in local production and supply chain optimisation. Industry players have a crucial role in developing cost-effective, scalable solutions that cater to the specific needs of LMICs. Further, global health agencies must ensure that oxygen access remains a funding priority, facilitating financial support for infrastructure development, equipment procurement and workforce training. Academia and research institutions can contribute by focusing on low-cost, innovative oxygen solutions tailored for LMICs. Prioritising affordability, efficiency and adaptability will be key. Using digital technologies for real-time monitoring, predictive demand analytics and supply chain management can further enhance the efficiency of oxygen delivery systems. The oxygen crisis is a solvable problem that demands coordinated action, sustainable financing, and strong political will. Our success in installing PSA oxygen plants in countries demonstrates that strategic investments, cross-border collaboration, and workforce training can yield long-term solutions. To maximise COVID-era investments in PSA oxygen plants, countries must ensure operational readiness. Ideally, donors who have already shown support for these initiatives during the pandemic should continue to support ongoing efforts. Surplus capacity should be distributed to peripheral facilities using booster pumps. WHO stands ready to provide technical support. As The Lancet Global Health Commission on medical oxygen security reminds us, access to medical oxygen is not just a health issue but also a matter of equity and human rights. Oxygen should never be a privilege but rather a fundamental right for all. Instead of crisis-driven approaches, sustainable investments in oxygen infrastructure can – and must – be made, ensuring that no one is left behind in their moment of need. Saima Wazed is Regional Director, World Health Organization (WHO) South East Asia
Malaysian Reserve
23-05-2025
- Business
- Malaysian Reserve
Generic Pharmaceuticals Market Share worth $682.9 Billion, Globally, by 2030
CHICAGO, May 23, 2025 /PRNewswire/ — The global Generic Pharmaceuticals Market size is projected to be valued at USD 391.5 billion in 2023 and reach USD 682.9 billion by 2030, growing at a CAGR of 8.3% according to a new report by The Research Insights. The market expansion results from growing approvals and launches of generic drug products that achieve market traction. For More Information and To Stay Updated on The Latest Developments in The Global Generic Pharmaceuticals Market, Download the Sample Pages: Market Overview and Growth Trajectory: Generic Pharmaceuticals Market Size Growth: According to an exhaustive report by The Research Insights, the Generic Pharmaceuticals Market is experiencing significant growth. Multiple economic, regulatory and healthcare-related factors combine to stimulate strong growth in the generic pharmaceuticals market. The primary factor propelling this trend is the growing need for affordable healthcare options. Patients encounter major financial constraints due to expensive branded medications which disproportionately affects those living in low- and middle-income countries (LMICs) because affordable treatment options remain scarce. Patients along with healthcare providers and government programs are transitioning to generic drugs because they provide similar efficacy and safety at much lower prices to control healthcare spending. For Detailed Market Insights, Visit: The expanding market size benefits from a rising number of branded drugs that have lost their patent protection. The expiration of patents on numerous sought-after medications opens up feasible chances for developing and marketing generic drug alternatives. The availability of off-patent products enables generic manufacturers to offer cost-efficient alternatives which enhances market competition and expands patient access to important medications. Different countries have established regulatory frameworks which expedite the approval process for generic drugs to support the market. The U.S. FDA and the European Medicines Agency have put in place accelerated approval procedures through abbreviated new drug applications (ANDAs) that minimize development expenses and market entry time yet uphold strict quality implementation of government policies and healthcare reforms serves as a major factor in advancing the use of generic medications. Numerous governments promote the use of generic prescriptions and substitutions to maintain control over public healthcare spending. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Generic Pharmaceuticals Market growth of 8.3% comprises a vast array of, Type, Application, Product, Route of administration, Distribution Channel and Geography which are expected to register strength during the coming years. Stay Updated on The Latest Generic Pharmaceuticals MarketTrends: Patent Expirations of Brand-Name Drugs: The generic pharmaceutical market continues to expand mainly because patents for high-revenue branded drugs keep expiring. The expiration of these patents allows generic drug makers to develop bioequivalent products which they sell at much lower prices. The pharmaceutical industry has consistently experienced the 'patent cliff' phenomenon. Major medications such as Humira (adalimumab), Revlimid (lenalidomide), and Tecfidera (dimethyl fumarate) now face or will face generic market competition. The expiration of patents creates billion-dollar market opportunities for generic drug manufacturers. Healthcare providers and insurers show a growing preference for generic medications as economical options especially within large public health systems throughout the U.S., Europe, and emerging markets. The trend of blockbuster drug patents expiring will remain a strong advantage for generic manufacturers throughout the upcoming years. Healthcare expenses across the globe continue to increase which drives the demand for affordable therapeutic options: Healthcare providers and governments around the world face increasing pressure to manage escalating healthcare costs due to aging populations, chronic diseases proliferation and the expansion of universal healthcare coverage. Generic medications serve as an essential remedy by delivering clinically equivalent options which cost between 30% to 80% less than their brand-name equivalents. Due to their lower price point generics have received extensive policy backing. Both the U.K., Canadian and Indian governments have put pricing policies and incentives into place to support generic drug use over branded ones. The FDA's Drug Competition Action Plan (DCAP) demonstrates the U.S. policy drive for drug affordability by expediting generic drug approvals. The global focus on healthcare affordability drives continuous growth in generic medicine demand thus establishing it as a stable expanding market domain. Regulatory Streamlining and Growing Acceptance of Generics: Global regulatory agencies are progressively making the generic drug approval process more efficient to boost market competition and guarantee quick access to necessary medications. The U.S. FDA, the European Medicines Agency (EMA), and the World Health Organization (WHO) have developed expedited pathways and established guidelines to eliminate obstacles faced by generic drug manufacturers. The FDA's Abbreviated New Drug Application (ANDA) process allows generic drugs to enter the market more quickly after patent expiration if the generic can prove bioequivalence. Enhanced manufacturing standards and increased transparency in production methods are driving global confidence in generic drugs' effectiveness and quality. Patients and healthcare providers have gained more trust in the prescription and utilization of generic drugs. Digital tools and e-pharmacy platforms improve generic drug accessibility across underserved regions which enhances market penetration. The global market for generic pharmaceuticals grows due to patents expiration of high-value drugs combined with increased demand for affordable treatment solutions alongside favourable regulatory support. The market functions as a fundamental pillar of current sustainable healthcare systems internationally because of these driving forces. For Region-Specific Market Data, Check Out Brief Sample Pages: Geographical Insights: The North American region held the top position in the worldwide generic pharmaceuticals market in 2022 by generating 32.71% of the total revenue. North America's market supremacy results from a growth-friendly environment shaped by positive government actions leading to more product launches while generic drug demand continues to rise. The sector has seen an increase in ANDA approvals and first-to-file benefits such as PIV certification. The Asia Pacific region is set to experience strong growth throughout the forecast period due to its rapidly growing population and expanding pharmaceutical sector. Analysts predict a significant increase in this trend. The July 2021 acquisition of SCP Pty Ltd in Melbourne, Australia by Lupin represented a major achievement for the company. SCP focuses exclusively on manufacturing pharmaceutical generics that treat numerous diseases. Global Generic Pharmaceuticals Market Segmentation and Geographical Insights: Based on Type, the generic pharmaceuticals market size is divided into Simple Generics, Specialty Generics, and Biosimilars. The traditional segment maintained its dominance in the drugs market by securing 68.36% of total market revenue. Simple generic products have gained significant traction through their defined developmental pathway and regulatory procedures for Abbreviated New Drug Applications (ANDA) filing. Based on Application, the generic pharmaceuticals market share is divided into Central Nervous System Disorders, Respiratory Diseases, Hormones & Related Diseases, Gastrointestinal Diseases, Cardiovascular Diseases, Infectious Diseases, Cancer, Diabetes, and Others. The market share of cardiovascular diseases outstripped that of generic pharmaceuticals globally in 2022 while remaining a major influence on the health landscape. The World Health Organization (WHO) reports that cardiovascular disease claims approximately 17.5 million lives every year which constitutes about 32% of total global deaths. Based on Product, the generic pharmaceuticals market size is divided into Small Molecule, and Large Molecule. The small molecule segment held dominance in the generic pharmaceuticals market and substantially increased its revenue share. Based on Route of Administration, the generic pharmaceuticals market share is divided into Oral, Injectable, Inhalable, and Others. The oral medications remained the dominant force in the generic pharmaceutical market by securing 61.42% of revenue share. The superiority of oral medications comes from their inherent benefits like simple administration methods and elimination of nurse dependency which leads to better patient acceptance and compliance. Based on Distribution Channel, the generic pharmaceuticals industry is divided into Online Pharmacies, Retail Pharmacies, and Hospital Pharmacies. The retail pharmacy emerged as the primary driver of revenue growth in the generic pharmaceuticals market by capturing the largest market share. Retail pharmacy chains like Walgreens and Walmart Stores, Inc. provided widespread access to pharmaceutical products including generic drugs and biosimilar insulin which drove market growth. The Generic Pharmaceuticals Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Generic Pharmaceuticals Market Size and Growth Report (2023-2030) at: Key Players and Competitive Landscape: The Global Generic Pharmaceuticals Market Report is characterized by the presence of several major players, including: Teva Pharmaceutical Industries Ltd. Viatris Inc. Novartis AG Sun Pharmaceutical Industries Ltd. LUPIN AbbVie Inc. (Allergan) AstraZeneca Sawai Pharmaceutical Co., Ltd. Hikma Pharmaceuticals PLC Dr. Reddy's Laboratories Ltd. Cipla Inc. Sanofi Aurobindo Pharma Endo International plc. These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Generic Pharmaceuticals Market Recent Developments and Innovations: In November 2024, Sunshine Biopharma Inc., a company dedicated to researching and developing life-saving therapies in multiple therapeutic areas, announced through its wholly owned Canadian subsidiary Nora Pharma Inc. the launch of two new generic prescription drugs. In June 2024, The U.S. branch of Teva Pharmaceutical Industries Ltd., known as Teva Pharmaceuticals Inc., has launched a generic version of Victoza which contains liraglutide injection at a dosage of 1.8mg in the United States. In April 2024, Baxter International Inc. stated the pharmaceutical portfolio grew through five new injectable product introductions in the U.S. market. Baxter International Inc. launched five new injectable products which include Vasopressin in 0.9% Sodium Chloride Injection, Norepinephrine Bitartrate in 5% Dextrose Injection, Vancomycin Injection, Regadenoson Injection pre-filled syringe and Ropivacaine Hydrochloride Injection. In October 2023, Egis Pharmaceuticals expanded its portfolio through API contract development and contract manufacturing services. The firm will make Egis Pharma Services available to both its existing pharmaceutical partners and newly established ones. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: Conclusion: The global generic pharmaceuticals market maintains its strong growth momentum because of heightened demand for lower-cost drugs and the growing number of chronic illnesses alongside healthcare systems' push to minimize expenses. Generic drug manufacturers are expanding their portfolios and global reach quickly because of the accelerated expiration dates for blockbuster medications. The process of regulatory simplification in North America, Europe, and parts of Asia has opened market access to more competitors and thus increased the availability of high-quality generic pharmaceuticals. The development of modern manufacturing technologies along with improved bioequivalence testing and quality control procedures has greatly enhanced both healthcare professionals' and patients' trust in generic medications. The growth of public health initiatives combined with governmental cost-reduction measures across advanced and developing economies highlights the essential function of generics in achieving fair healthcare distribution. The development of strategic partnerships along with vertical integration and investments into biosimilars and specialty generics form the main drivers of growth while establishing generic pharmaceuticals as essential components of sustainable global healthcare delivery. The report from The Research Insights, therefore, provides several stakeholders— pharmaceutical manufacturers, healthcare providers, regulatory agencies, government bodies, insurance companies, and patients—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 682.9 billion by 2030, the Global Generic Pharmaceuticals Market represents a significant opportunity for contract research organizations (CROs), active pharmaceutical ingredient (API) suppliers, private equity firms, generic drug marketing firms, and technology solution providers, can position themselves for success in this dynamic and evolving market landscape. Check out more related studies published by The Research Insights: Generic Pharmaceuticals Contract Manufacturing Market: The Global Generic Pharmaceuticals Contract Manufacturing Market is expected to reach at USD 90.95 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 9.98% during the forecast period, this expansion is largely driven by the increasing importance of pharmaceutical drugs in treating various health conditions and extending life expectancy. Continuous Manufacturing Market in Pharmaceuticals & Biopharmaceuticals: The Global Continuous Manufacturing Market in Pharmaceuticals & Biopharmaceuticals is expected to reach at USD 2.28 billion by 2027, according to a new report by The Research Insights. It is projected to expand at a CAGR of 13.85% during the forecast period. In recent years, this technology has gained popularity as a cost-effective solution for pharmaceutical companies seeking to accelerate their drug development processes while maintaining product quality and supply. Biopharmaceuticals Contract Manufacturing Market: The Global Biopharmaceuticals Contract Manufacturing market is expected to reach at USD 75.80 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 11.1% during the forecast period. The global biopharmaceuticals contract manufacturing market is poised for significant expansion, driven by a multitude of factors that are expected to propel its growth trajectory over the next few years. Browse More related reports on Specialty and Chemicals Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us:If you have any queries about this report or if you would like further information, please contact us:Contact Person: Kaushik RoyE-mail: sales@ +1-312-313-8080Website: Logo: View original content:
Yahoo
23-05-2025
- Business
- Yahoo
Generic Pharmaceuticals Market Share worth $682.9 Billion, Globally, by 2030 - Exclusive Report by The Research Insights
CHICAGO, May 23, 2025 /PRNewswire/ -- The global Generic Pharmaceuticals Market size is projected to be valued at USD 391.5 billion in 2023 and reach USD 682.9 billion by 2030, growing at a CAGR of 8.3% according to a new report by The Research Insights. The market expansion results from growing approvals and launches of generic drug products that achieve market traction. For More Information and To Stay Updated on The Latest Developments in The Global Generic Pharmaceuticals Market, Download the Sample Pages: Market Overview and Growth Trajectory: Generic Pharmaceuticals Market Size Growth: According to an exhaustive report by The Research Insights, the Generic Pharmaceuticals Market is experiencing significant growth. Multiple economic, regulatory and healthcare-related factors combine to stimulate strong growth in the generic pharmaceuticals market. The primary factor propelling this trend is the growing need for affordable healthcare options. Patients encounter major financial constraints due to expensive branded medications which disproportionately affects those living in low- and middle-income countries (LMICs) because affordable treatment options remain scarce. Patients along with healthcare providers and government programs are transitioning to generic drugs because they provide similar efficacy and safety at much lower prices to control healthcare spending. For Detailed Market Insights, Visit: The expanding market size benefits from a rising number of branded drugs that have lost their patent protection. The expiration of patents on numerous sought-after medications opens up feasible chances for developing and marketing generic drug alternatives. The availability of off-patent products enables generic manufacturers to offer cost-efficient alternatives which enhances market competition and expands patient access to important medications. Different countries have established regulatory frameworks which expedite the approval process for generic drugs to support the market. The U.S. FDA and the European Medicines Agency have put in place accelerated approval procedures through abbreviated new drug applications (ANDAs) that minimize development expenses and market entry time yet uphold strict quality implementation of government policies and healthcare reforms serves as a major factor in advancing the use of generic medications. Numerous governments promote the use of generic prescriptions and substitutions to maintain control over public healthcare spending. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Generic Pharmaceuticals Market growth of 8.3% comprises a vast array of, Type, Application, Product, Route of administration, Distribution Channel and Geography which are expected to register strength during the coming years. Stay Updated on The Latest Generic Pharmaceuticals MarketTrends: Patent Expirations of Brand-Name Drugs: The generic pharmaceutical market continues to expand mainly because patents for high-revenue branded drugs keep expiring. The expiration of these patents allows generic drug makers to develop bioequivalent products which they sell at much lower prices. The pharmaceutical industry has consistently experienced the "patent cliff" phenomenon. Major medications such as Humira (adalimumab), Revlimid (lenalidomide), and Tecfidera (dimethyl fumarate) now face or will face generic market competition. The expiration of patents creates billion-dollar market opportunities for generic drug manufacturers. Healthcare providers and insurers show a growing preference for generic medications as economical options especially within large public health systems throughout the U.S., Europe, and emerging markets. The trend of blockbuster drug patents expiring will remain a strong advantage for generic manufacturers throughout the upcoming years. Healthcare expenses across the globe continue to increase which drives the demand for affordable therapeutic options: Healthcare providers and governments around the world face increasing pressure to manage escalating healthcare costs due to aging populations, chronic diseases proliferation and the expansion of universal healthcare coverage. Generic medications serve as an essential remedy by delivering clinically equivalent options which cost between 30% to 80% less than their brand-name equivalents. Due to their lower price point generics have received extensive policy backing. Both the U.K., Canadian and Indian governments have put pricing policies and incentives into place to support generic drug use over branded ones. The FDA's Drug Competition Action Plan (DCAP) demonstrates the U.S. policy drive for drug affordability by expediting generic drug approvals. The global focus on healthcare affordability drives continuous growth in generic medicine demand thus establishing it as a stable expanding market domain. Regulatory Streamlining and Growing Acceptance of Generics: Global regulatory agencies are progressively making the generic drug approval process more efficient to boost market competition and guarantee quick access to necessary medications. The U.S. FDA, the European Medicines Agency (EMA), and the World Health Organization (WHO) have developed expedited pathways and established guidelines to eliminate obstacles faced by generic drug manufacturers. The FDA's Abbreviated New Drug Application (ANDA) process allows generic drugs to enter the market more quickly after patent expiration if the generic can prove bioequivalence. Enhanced manufacturing standards and increased transparency in production methods are driving global confidence in generic drugs' effectiveness and quality. Patients and healthcare providers have gained more trust in the prescription and utilization of generic drugs. Digital tools and e-pharmacy platforms improve generic drug accessibility across underserved regions which enhances market penetration. The global market for generic pharmaceuticals grows due to patents expiration of high-value drugs combined with increased demand for affordable treatment solutions alongside favourable regulatory support. The market functions as a fundamental pillar of current sustainable healthcare systems internationally because of these driving forces. For Region-Specific Market Data, Check Out Brief Sample Pages: Geographical Insights: The North American region held the top position in the worldwide generic pharmaceuticals market in 2022 by generating 32.71% of the total revenue. North America's market supremacy results from a growth-friendly environment shaped by positive government actions leading to more product launches while generic drug demand continues to rise. The sector has seen an increase in ANDA approvals and first-to-file benefits such as PIV certification. The Asia Pacific region is set to experience strong growth throughout the forecast period due to its rapidly growing population and expanding pharmaceutical sector. Analysts predict a significant increase in this trend. The July 2021 acquisition of SCP Pty Ltd in Melbourne, Australia by Lupin represented a major achievement for the company. SCP focuses exclusively on manufacturing pharmaceutical generics that treat numerous diseases. Global Generic Pharmaceuticals Market Segmentation and Geographical Insights: Based on Type, the generic pharmaceuticals market size is divided into Simple Generics, Specialty Generics, and Biosimilars. The traditional segment maintained its dominance in the drugs market by securing 68.36% of total market revenue. Simple generic products have gained significant traction through their defined developmental pathway and regulatory procedures for Abbreviated New Drug Applications (ANDA) filing. Based on Application, the generic pharmaceuticals market share is divided into Central Nervous System Disorders, Respiratory Diseases, Hormones & Related Diseases, Gastrointestinal Diseases, Cardiovascular Diseases, Infectious Diseases, Cancer, Diabetes, and Others. The market share of cardiovascular diseases outstripped that of generic pharmaceuticals globally in 2022 while remaining a major influence on the health landscape. The World Health Organization (WHO) reports that cardiovascular disease claims approximately 17.5 million lives every year which constitutes about 32% of total global deaths. Based on Product, the generic pharmaceuticals market size is divided into Small Molecule, and Large Molecule. The small molecule segment held dominance in the generic pharmaceuticals market and substantially increased its revenue share. Based on Route of Administration, the generic pharmaceuticals market share is divided into Oral, Injectable, Inhalable, and Others. The oral medications remained the dominant force in the generic pharmaceutical market by securing 61.42% of revenue share. The superiority of oral medications comes from their inherent benefits like simple administration methods and elimination of nurse dependency which leads to better patient acceptance and compliance. Based on Distribution Channel, the generic pharmaceuticals industry is divided into Online Pharmacies, Retail Pharmacies, and Hospital Pharmacies. The retail pharmacy emerged as the primary driver of revenue growth in the generic pharmaceuticals market by capturing the largest market share. Retail pharmacy chains like Walgreens and Walmart Stores, Inc. provided widespread access to pharmaceutical products including generic drugs and biosimilar insulin which drove market growth. The Generic Pharmaceuticals Market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Generic Pharmaceuticals Market Size and Growth Report (2023-2030) at: Key Players and Competitive Landscape: The Global Generic Pharmaceuticals Market Report is characterized by the presence of several major players, including: Teva Pharmaceutical Industries Ltd. Viatris Inc. Novartis AG Sun Pharmaceutical Industries Ltd. LUPIN AbbVie Inc. (Allergan) AstraZeneca Sawai Pharmaceutical Co., Ltd. Hikma Pharmaceuticals PLC Dr. Reddy's Laboratories Ltd. Cipla Inc. Sanofi Aurobindo Pharma Endo International plc. These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Generic Pharmaceuticals Market Recent Developments and Innovations: In November 2024, Sunshine Biopharma Inc., a company dedicated to researching and developing life-saving therapies in multiple therapeutic areas, announced through its wholly owned Canadian subsidiary Nora Pharma Inc. the launch of two new generic prescription drugs. In June 2024, The U.S. branch of Teva Pharmaceutical Industries Ltd., known as Teva Pharmaceuticals Inc., has launched a generic version of Victoza which contains liraglutide injection at a dosage of 1.8mg in the United States. In April 2024, Baxter International Inc. stated the pharmaceutical portfolio grew through five new injectable product introductions in the U.S. market. Baxter International Inc. launched five new injectable products which include Vasopressin in 0.9% Sodium Chloride Injection, Norepinephrine Bitartrate in 5% Dextrose Injection, Vancomycin Injection, Regadenoson Injection pre-filled syringe and Ropivacaine Hydrochloride Injection. In October 2023, Egis Pharmaceuticals expanded its portfolio through API contract development and contract manufacturing services. The firm will make Egis Pharma Services available to both its existing pharmaceutical partners and newly established ones. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: Conclusion: The global generic pharmaceuticals market maintains its strong growth momentum because of heightened demand for lower-cost drugs and the growing number of chronic illnesses alongside healthcare systems' push to minimize expenses. Generic drug manufacturers are expanding their portfolios and global reach quickly because of the accelerated expiration dates for blockbuster medications. The process of regulatory simplification in North America, Europe, and parts of Asia has opened market access to more competitors and thus increased the availability of high-quality generic pharmaceuticals. The development of modern manufacturing technologies along with improved bioequivalence testing and quality control procedures has greatly enhanced both healthcare professionals' and patients' trust in generic medications. The growth of public health initiatives combined with governmental cost-reduction measures across advanced and developing economies highlights the essential function of generics in achieving fair healthcare distribution. The development of strategic partnerships along with vertical integration and investments into biosimilars and specialty generics form the main drivers of growth while establishing generic pharmaceuticals as essential components of sustainable global healthcare delivery. The report from The Research Insights, therefore, provides several stakeholders— pharmaceutical manufacturers, healthcare providers, regulatory agencies, government bodies, insurance companies, and patients—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 682.9 billion by 2030, the Global Generic Pharmaceuticals Market represents a significant opportunity for contract research organizations (CROs), active pharmaceutical ingredient (API) suppliers, private equity firms, generic drug marketing firms, and technology solution providers, can position themselves for success in this dynamic and evolving market landscape. Check out more related studies published by The Research Insights: Generic Pharmaceuticals Contract Manufacturing Market: The Global Generic Pharmaceuticals Contract Manufacturing Market is expected to reach at USD 90.95 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 9.98% during the forecast period, this expansion is largely driven by the increasing importance of pharmaceutical drugs in treating various health conditions and extending life expectancy. Continuous Manufacturing Market in Pharmaceuticals & Biopharmaceuticals: The Global Continuous Manufacturing Market in Pharmaceuticals & Biopharmaceuticals is expected to reach at USD 2.28 billion by 2027, according to a new report by The Research Insights. It is projected to expand at a CAGR of 13.85% during the forecast period. In recent years, this technology has gained popularity as a cost-effective solution for pharmaceutical companies seeking to accelerate their drug development processes while maintaining product quality and supply. Biopharmaceuticals Contract Manufacturing Market: The Global Biopharmaceuticals Contract Manufacturing market is expected to reach at USD 75.80 billion by 2030, according to a new report by The Research Insights. It is projected to expand at a CAGR of 11.1% during the forecast period. The global biopharmaceuticals contract manufacturing market is poised for significant expansion, driven by a multitude of factors that are expected to propel its growth trajectory over the next few years. Browse More related reports on Specialty and Chemicals Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. 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