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(Medical-NewsWire.com, October 16, 2024 ) The Generic Drugs Market size was valued at USD 431.15 Billion in 2023 and the total Generic Drugs Market revenue is expected to grow at a CAGR of 5.22% from 2024 to 2030, reaching nearly USD 615.72 Billion.
In 2023, North America dominated the generic drugs market with a share of 33.21%. The high income in North American countries can be attributed to the presence of numerous players. During the forecast period, the Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) of 6.42% in the generic drugs market. Asia's lower manufacturing costs and talented workforce could be the reason for this. India has the second highest number of generic drug manufacturing facilities approved by the FDA, after the United States, as reported by MMR.
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Generic Drugs Market Segmentation
by Product
Simple Generics
Super Generics
Biosimilars
by Application
Cardiovascular Products
Anti-Infective Drugs
Anti-Arthritis Drugs
Central Nervous System Drugs
Anti-Cancer Drug
Respiratory Products
Others
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by Distribution Channel
Hospitals
Pharmacies
Private Clinics
Drug Stores
Retail Pharmacies
Others
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Generic Drugs Market Top Leaders:
Mylan N.V. - (USA)
Par Pharmaceuticals- (USA)
Pfizer - (USA)
Baxter International Inc. - (USA)
Eli Lilly and Company - (USA)
Abbott Laboratories - (USA)
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Source: EmailWire.Com 
Source: EmailWire.com
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