Asia-Pacific generic drugs market is estimated to grow at a CAGR of nearly 8.0% during the forecast period. A significant rise in the prevalence of chronic diseases and favorable government initiatives for generic medicines is reflecting positively on the market growth. In 2019, the Chinese authorities declared the launch of an initiative to encourage the development of generic medicines. In June 2019, China’s National Health Commission revealed its first list of 34 drugs with no generic drug counterpart, near to patent expiration, and are off-patent. Under the drug regulator’s priority review pathway, drug manufacturers are being pushed to develop generic medicines. The list covers Teva’s Copaxone, a multiple sclerosis drug, and Roche’s Valcyte, a Cytomegalovirus (CMV) retinitis treatment. Big pharmaceutical firms are being competed with manufacturers of generic drugs in China. This, in turn, will result in increasing accessibility of generic medicines in the country and thereby will drive the market growth.

Asia-Pacific generic drugs market is segmented based on application and route of administration. Based on application, the market is classified into cancer, CVD, musculoskeletal diseases, infectious diseases, neurology, diabetes, and others. The increasing prevalence of cancer is driving the demand for generic drugs in the region. As per the estimation by the World Health Organization (WHO), the number of new cancer incidences expected to be reported in china was nearly 4.6 million in 2020. Likewise, the cancer incidences are growing significantly in other Asia-Pacific countries, which is boosting the adoption of generics as it has a much lower cost compared to the branded counterparts. Based on the route of administration, the market is segmented into oral, topical, injectable, and inhaler.

Some key players operating in the market include Mylan N.V., Teva Pharmaceutical Industries Ltd., Lupin Ltd., Aurobindo Pharma Ltd., and Sun Pharmaceutical Industries Ltd. The market players are focusing on strategic initiatives to increase their market share. For instance, in July 2020, Cipla declared the launch of its generic version of antiviral drug remdesivir, Cipremi, at $53.3 per 100 mg vial. This makes it among the lowest cost versions for COVID-19 treatment and Cipla is looking to deliver more than 80,000 vials within the first month.

Research Methodology

The market study of the Asia-Pacific generic drugs market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Generic Drugs Market Research and Analysis by Application
2. Asia-Pacific Generic Drugs Market Research and Analysis by Route of Administration

The Report Covers

• Comprehensive research methodology of the Asia-Pacific generic drugs market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific generic drugs market.
• Insights about market determinants which are stimulating the Asia-Pacific generic drugs market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.