United States generic drugs market is projected to witness a CAGR of 6.68% during the forecast period 2024-2031, growing from USD 117.32 billion in 2023 to USD 196.79 billion in 2031.
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United States generic drugs market is projected to witness a CAGR of 6.68% during the forecast period 2024-2031, growing from USD 117.32 billion in 2023 to USD 196.79 billion in 2031. The market’s growth is boosted by the increasing launch of biosimilars and generics by the market players, the rising prevalence of chronic diseases, and strategic collaborations and partnerships among the key market players. The increasing investments by various companies towards generic drug manufacturing facilities are also supporting the expansion of the United States generic drugs market. In March 2024, Mark Cuban Cost Plus Drug Company, PBC announced that they would start manufacturing generic drugs, beginning with sterile injectables. The company began manufacturing commercial batches of norepinephrine and epinephrine for patients admitted to the intensive care unit (ICU) in March. Cost Plus Drug Company constructed the USD 11 million, 22,000-square-foot fill and finish facility in Dallas to address the drug shortage.
Furthermore, the growing threat of chronic diseases in the country is also augmenting the market’s demand, as in most conditions, patients require frequent dosages over a long period of time to manage the condition effectively. This, in turn, is propelling the requirement for generic drugs as they provide effective solutions to patients in a cost-efficient manner.
The growing efforts of key market players to bolster the introduction of different generics in the country to combat the growing threat of different diseases and ensure patient accessibility are boosting the United States generic drugs market size. In April 2024, Zydus Group launched Mirabegron with the strength of 25 mg after receiving approval from the United States Food and Drug Administration (USFDA). The generic drug is used for treating overactive bladder. The company is one of the first to launch generic medication and is preparing to launch tablets for the same with 50 mg strength. The rising launch of generics in the United States can also be attributed to the growing number of patent expiration and increasing preference for generics among patients to reduce treatment expenses.
The increasing prevalence of various chronic diseases in the country is providing lucrative growth opportunities to the market. As per the estimates of the National Cancer Institute, in 2024, approximately 611,720 individuals will die from the disease, and 2,001,140 new cancer cases will be diagnosed in the United States. Similarly, the cases of diabetes are also increasing in the country. The American Diabetes Association estimates that over 38 million adults and children in the United States are living with diabetes. The increasing prevalence of such diseases is propelling the United States generic drugs market demand as generic drugs aid patients in effectively managing chronic diseases while ensuring economic efficiency. Generic drugs have the same mechanism of action and contain the same active ingredient as brand-name drugs, thus providing quality treatments to patients.
The preference for retail pharmacies in the United States can be attributed to the technology-driven transformation of the segment that is increasing patients’ convenience and providing them with personalized solutions to improve the customer experience. As per the 2022 economic report estimates on U.S. pharmacies and pharmacy benefit managers, published in March 2022, approximately 138,000 prescriptions are dispensed annually by retail chains in the United States.
Meanwhile, the online pharmacy segment is expected to grow significantly over the forecast period. This growth can be attributed to the economically efficient and convenient nature of online pharmacies. Patients with chronic diseases and disorders especially prefer these pharmacies as they eliminate the requirement of physically purchasing drugs, reducing the strain on the patients while offering advantages such as one-day delivery and overnight shipping. Additionally, various market players are also focusing on selling their respiratory drugs across online pharmacies. For instance, in September 2023, Lupin Ltd. announced that they would be selling their generic respiratory drugs across the online pharmacy called Cost Plus Drugs.
The rising approvals by the USFDA for the launch of different biosimilars in the United States support the growth of the segment. In February 2024, the FDA provided approval to Alvotech for AVT02; Simlandi, their adalimumab biosimilar, making it the tenth US approval for the biosimilar referencing Humira (adalimumab) and the first for the company. The medication also received approval as an interchangeable biosimilar. The marketing and commercialization of the drug will be done as part of an exclusive partnership by Teva Pharmaceuticals Industries Ltd., supporting the introduction of additional treatment options for patients and ensuring cost efficiency across the country’s healthcare system. Such approvals are expected to bolster the availability of different biosimilars across the country and boost the United States generic drugs market growth. They also mark partnership milestones for Teva, one of the key players in the market, and Alvotech to ensure the uptake and availability of biosimilars across the United States by collaborating on seven biosimilars.
Future Market Scenario (2024-2031F)
As per the United States generic drugs market analysis, the market is estimated to witness significant growth over the forecast period. The rising prevalence of chronic diseases such as diabetes and cancer in the country supports this growth. The market is also expected to witness the introduction of complex biosimilars and generics. A wide range of patents are expiring in the coming years, providing opportunities for the creation of their generics. Meanwhile, the increasing costs of healthcare are bolstering the demand for generics. With increasing the affordability of healthcare being one of the primary focus areas of the government, the market is expected to witness lucrative growth opportunities in the coming years.
Report Scope
“United States Generic Drugs Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of United States generic drugs market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
Report Attribute |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2017-2022 |
Forecast Period |
2024-2031 |
Projected Growth Rate |
CAGR of 6.68% between 2024 and 2031 |
Revenue Forecast in 2031 |
USD 196.79 billion |
Segments Covered |
Application, Type, Brand, Route of Administration, Distribution Channel |
Regions Covered |
Northeast, Midwest, West, South |
Key Companies Profile |
Hikma Pharmaceuticals plc, Sandoz Group AG, Viatris Inc., Aurobindo Pharma US Ltd., Lupin Ltd., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., Dr. Reddy's Laboratories, Glenmark Pharmaceuticals Inc., Zydus Group |
Customization Scope |
15% free report customization with purchase |
Pricing and Purchase Options |
Avail the customized purchase options to fulfill your precise research needs |
Delivery Format |
PDF and Excel through email (subject to the license purchased) |
In the report, United States generic drugs market has been segmented into the following categories:
· By Application
o Neurovascular
o Cardiovascular
o Dermatology
o Oncology
o Diabetology
o Respiratory
o Others
· By Type
o Biosimilar Generics
o Small Molecule Generics
· By Brand
o Branded Generic
o Pure Generic
· By Route of Administration
o Oral
o Injectable
o Topical
o Others
· By Distribution Channel
o Hospital Pharmacy
o Retail Pharmacy
o Online Pharmacy
· By Region
o Northeast
o Midwest
o West
o South
Key Players Landscape and Outlook
The rising efforts by key market players in the market to boost the introduction of different generics in the United States are expected to provide lucrative growth opportunities to the market. In August 2024, Glenmark Pharmaceuticals, Inc. introduced a generic eye treatment medication, Olopatadine Hydrochloride Ophthalmic Solution, in the United States. Such introductions showcase the commitment of the key players of the market to provide high-quality solutions to the patients and meet the diverse requirements of the market. Even though the Office of Generic Drugs published 98 drug-specific guidelines last year, the growth potential for generics in the United States is significant, and market penetration can lead to significant profits.
Key Players Operating in United States Generic Drugs Market are:
· Hikma Pharmaceuticals plc
· Sandoz Group AG
· Viatris Inc.
· Aurobindo Pharma US Ltd.
· Lupin Ltd.
· Sun Pharmaceutical Industries Ltd.
· Teva Pharmaceuticals Industries Ltd.
· Dr. Reddy's Laboratories
· Glenmark Pharmaceuticals Inc.
· Zydus Group
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Table of Contents
1. Project Scope and Definitions
2. Research Methodology
3. Executive Summary
4. United States Generic Drugs Market Outlook, 2017-2031F
4.1. Market Size Analysis & Forecast
4.1.1.By Value
4.1.2.By Volume
4.2. Market Share Analysis & Forecast
4.2.1.By Application
4.2.1.1. Neurovascular
4.2.1.2. Cardiovascular
4.2.1.3. Dermatology
4.2.1.4. Oncology
4.2.1.5. Diabetology
4.2.1.6. Respiratory
4.2.1.7. Others
4.2.2.By Type
4.2.2.1. Biosimilar Generics
4.2.2.2. Small Molecule Generics
4.2.3.By Brand
4.2.3.1. Branded Generic
4.2.3.2. Pure Generic
4.2.4.By Route of Administration
4.2.4.1. Oral
4.2.4.2. Injectable
4.2.4.3. Topical
4.2.4.4. Others
4.2.5.By Distribution Channel
4.2.5.1. Hospital Pharmacy
4.2.5.2. Retail Pharmacy
4.2.5.3. Online Pharmacy
4.2.6.By Region
4.2.6.1. Northeast
4.2.6.2. Midwest
4.2.6.3. West
4.2.6.4. South
4.2.7.By Company Market Share Analysis (Top 5 Companies and Others – By Value, 2023)
4.3. Market Map Analysis, 2023
4.3.1.By Application
4.3.2.By Type
4.3.3.By Brand
4.3.4.By Route of Administration
4.3.5.By Distribution Channel
4.3.6.By Region
5. Demand Supply Analysis
6. Import and Export Analysis
7. Value Chain Analysis
8. Porter’s Five Forces Analysis
9. PESTLE Analysis
10. Pricing Analysis
11. Market Dynamics
11.1. Market Drivers
11.2. Market Challenges
12. Market Trends and Developments
13. Regulatory Framework and Innovation
13.1. Bioavailability/Bioequivalence Studies
13.2. Regulatory Approvals
14. Patent Expiration
15. Case Studies
16. Competitive Landscape
16.1. Competition Matrix of Top 5 Market Leaders
16.2. SWOT Analysis for Top 5 Players
16.3. Key Players Landscape for Top 10 Market Players
16.3.1. Hikma Pharmaceuticals plc
16.3.1.1. Company Details
16.3.1.2. Key Management Personnel
16.3.1.3. Products and Services
16.3.1.4. Financials (As Reported)
16.3.1.5. Key Market Focus and Geographical Presence
16.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisitions
16.3.2. Sandoz Group AG
16.3.3. Viatris Inc.
16.3.4. Aurobindo Pharma US Ltd.
16.3.5. Lupin Ltd.
16.3.6. Sun Pharmaceutical Industries Ltd.
16.3.7. Teva Pharmaceuticals Industries Ltd.
16.3.8. Dr. Reddy's Laboratories
16.3.9. Glenmark Pharmaceuticals Inc.
16.3.10. Zydus Group
*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.
17. Strategic Recommendations
18. About Us and Disclaimer
List of Figures
Figure 1. United States Generic Drugs Market, By Value, In USD Billion, 2017-2031F
Figure 2. United States Generic Drugs Market, By Volume, In Number of Prescriptions, 2017-2031F
Figure 3. United States Generic Drugs Market Share (%), By Application, 2017-2031F
Figure 4. United States Generic Drugs Market Share (%), By Type, 2017-2031F
Figure 5. United States Generic Drugs Market Share (%), By Brand, 2017-2031F
Figure 6. United States Generic Drugs Market Share (%), By Route of Administration, 2017-2031F
Figure 7. United States Generic Drugs Market Share (%), By Distribution Channel, 2017-2031F
Figure 8. United States Generic Drugs Market Share (%), By Region, 2017-2031F
Figure 9. By Application Map-Market Size (USD Billion) & Growth Rate (%), 2023
Figure 10. By Type Map-Market Size (USD Billion) & Growth Rate (%), 2023
Figure 11. By Brand Size Map-Market Size (USD Billion) & Growth Rate (%), 2023
Figure 12. By Route of Administration Map-Market Size (USD Billion) & Growth Rate (%), 2023
Figure 13. By Distribution Channel Map-Market Size (USD Billion) & Growth Rate (%), 2023
Figure 14. By Region Map-Market Size (USD Billion) & Growth Rate (%), 2023
List of Tables
Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Regions and Countries Where We Have Executed Client Projects
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