North America generic drugs market is estimated to grow at a CAGR of nearly 7.2% during the forecast period. The increasing prevalence of chronic diseases is a major factor in driving the market growth. As per the estimation by the American Cancer Society (ACS), over 1.8 million new cancer incidences are expected to be diagnosed in 2020. This leads to increasing demand for generic drugs that are playing a crucial role in cancer treatment. For instance, in everyday practice, patients with early-stage breast cancer, and children suffering from acute lymphoblastic leukemia are treated and cured with generics. In cancer care, generic drugs are also significantly used in supportive care beyond chemotherapy. An instance of the generic drug is Carboplatin which is used for the treatment of breast cancer. The brand name for carboplatin is Paraplatin. Additionally, Mitoxantrone is a generic drug that is used for the treatment of Leukaemia. Novantrone is a brand name for Mitoxantrone. 

North America 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. Based on the route of administration, the market is segmented into oral, topical, injectable, and inhaler. Inhaler route of administration generic drugs is expected to increase owing to the FDA approvals for inhaler generics versions. For instance, in April 2020, Cipla Ltd. received the US FDA approval of the first generic of Proventil HFA (albuterol sulfate) metered-dose inhaler, 90 mcg/Inhalation. This is indicated for the treatment or prevention of bronchospasm in patients four years of age and older suffering from reversible obstructive airway disease, as well as the prevention of exercise-induced bronchospasm in this age group.

Some key players in the market include Mylan N.V., Teva Pharmaceutical Industries Ltd., Lupin Ltd., Novartis International AG, and Sun Pharmaceutical Industries Ltd. The market players are using some key strategies to increase their market share. For instance, in October 2020, Teva Pharmaceuticals USA, Inc. declared the availability of the first US FDA-approved generic versions of TRUVADA i and ATRIPLA i tablets. These products, along with over 10 HIV-related drugs are already on the WHO’s Essential Medicines List. By launching these new generic options for HIV treatment, Teva will further increase access to vital therapies and strengthen its position in the generic marketplace.

Research Methodology

The market study of the North America 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. North America Generic Drugs Market Research and Analysis by Application
2. North America Generic Drugs Market Research and Analysis by Route of Administration

The Report Covers

• Comprehensive research methodology of the North America 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 North America generic drugs market.
• Insights about market determinants which are stimulating the North America generic drugs market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.