NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/09/09 - Increasing private sector participation and government initiatives will spur the global generics market, says RNCOS.
According to our latest industry monitory report “Generics Trend”, the generics drug industry has expanded strongly in the recent years as the need for cheap medicines has increased significantly. Owing to factors like low cost and high affordability, the growth of generics market is outpacing the branded sector by a considerable margin. The coming four years will see more leading drugs going off patent, thereby increasing opportunities for generics producers.
The global generics market has recently witnessed a tremendous growth in the “generic-deals”, wherein the brand name maker pays the generic company to delay the market entry of a lower-cost generic drug alternative. To ban such deals many nations are coming up with several new stringent laws and regulations. For instance, in the US, the House has passed a bill limiting "pay for delay" settlements between brand-name and generic drug makers that used to delay the entry of generic drugs into the market.
Additionally, our trend report has focused on the current activities of the major pharmaceutical players that includes new drug discoveries, entering into emerging markets, and diversifying to boost revenue. For example, India and the European Union (EU) will sign a free-trade agreement before the end of 2010. In another instance, the proposed India-Japan Comprehensive Economic Partnership Agreement (CEPA) looks set to boost the pharmaceutical industry in both countries.
Our research indicates that with rising growth in emerging economies, major global drug makers are focusing on emerging markets as a new business area with the standard approach of offering low-cost generic drugs.
“Generics Trend” apart from providing a deep insight into the generics industry, has discussed generic version of cancer drugs as well. It also discusses various strategies adopted by the governments of many countries and private players that will propel the growth of this industry in future. Most importantly, the report also discusses parameters like key market drivers and emerging economies.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.