UK generic drugs market is estimated to grow at a CAGR of nearly 6.1% during the forecast period. Some pivotal factors encouraging market growth include the rising prevalence of chronic diseases and UK government initiatives to reduce generic prices. In June 2017, the UK government launched a new law that aims to increase the government’s powers to regulate the cost of drugs and medical supplies. Additionally, this aims to collect pricing information and sales from pharmaceutical firms. The Health Service Medical Supplies (Costs) Act 2017 (c 23) is a UK Parliament Act. 

Under the law, pharmaceutical firms can be forced to decrease the price of a generic drug or reveal other controls on brand-name drugs in cases where charges are unfair. This, in turn, is contributing to the demand for generic drugs that are playing a crucial role in several diseases. Generic drugs are significantly used in cancer treatment. 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. 

UK 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. The oral route of administration occupies a potential share in the market as it is easy to administer and patient compliance with oral drugs is higher compared to the other routes of administration. Over the decade, the cost of oral generic drugs has reduced more rapidly which is driving its adoption for the treatment of several diseases. 

Some key players in the market include Mylan N.V., Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Hikma Pharmaceuticals plc, and Novartis International AG. The market players are using some key strategies to increase their market share. For instance, in July 2019, Sandoz, a part of Novartis International AG declared the introduction of the generic cancer drug gefitinib which is intended for adult patients suffering from locally advanced or metastatic non-small cell lung cancer. It is available in 13 countries across Europe and the company will constantly widen to other countries through a phased rollout.

Research Methodology

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

The Report Covers

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