Noida, India (PressExposure) August 26, 2009 -- After being affected by global recession, US government is now aiming to reduce healthcare cost by increasing access to generics drugs. This has encouraged the generics manufacturers in different countries to enter the field. Boosted by patent expiry of several blockbusters drugs having billions of sales per year, market is expected to grow faster than before. This has been resulting into a healthcare reform in the country. The US generics market is anticipated to grow at a CAGR of around 10% during 2009-2012. This projected growth rate makes the market attractive for new investments, says our new analytical study âBooming US Generic Drug Marketâ.
The report studies the current trends as well as developments taking place in the US generics market. We have found that generic drugs hold a smaller share in the US pharma market as compared to the branded drugs, but it is surging at more than double the pace of the branded drugs market. Various factors like favorable political environment, patent expiries of key blockbusters, and low costs of generics have strongly supported the growth rate. On account of these factors generics market in the US is expected to register a double digit growth rate, says an analyst at RNCOS.
We have noted that during 2008-2012, patents of blockbusters having value of more than US$ 60 Billion are going to expire. This expiration will further lead the biogenerics market to register good growth in near future.
The report analyzes key markets and segments of the US generic drugs market to give an account on the marketâs future scenario. Our industry experts say that government should take cautious approach in company deals that are aimed at preventing generics from getting launched in the market after patent expiration. The report highlights the factors propelling the growth of the US generics market. Apart from this, the report provides rational analysis on the concerned market.
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