Latin America Generic drugs market is poised to reach USD 60.72 Billion by 2021
Latin America Generic Drugs Market by type (Biosimilars, simple generic and super generic) by therapeutic drugs – Latin America Industry analysis, size, share, growth, trends, and forecasts (2016-2021).
(EMAILWIRE.COM, June 22, 2017 ) Latin America Generic drugs market was worth USD 36.04 Billion in 2015 and is expected to reach USD 60.72 Billion by 2021 with a CAGR of 11.0 %. This market will increase tremendously during forecast period.
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Generic drugs are also known as abbreviated drugs. Generic Drugs are Equivalent or Bioequivalent to brand name drug in terms of Side effects, Risks, Dosage, Intended use, and Strength. Although they are equivalent to their brand name counterparts, they are sold at a substantially lower price. To sell a generic drug manufacturing company must submit an Abbreviated New Drug Application for approval after the patent of brand name counterpart expires.
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The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage. One more trend which influences market growth is outsourcing. Presence of some key players in this market and developing economies are some driving factors in this region. Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
Generic drugs market is segmented into Biosimilars, Simple generic and Super generic. Based on therapeutic drugs, they are further segmented into Cardiovascular products, anti-infective products, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. Super generics are sold at higher price than their pure generic counterpart. Super generics account for 18% of total spending on generic drugs. But biosimilars are comparatively cost effective even among generic drugs. Biosimilar drugs is expected to have significant growth during the forecast period. Based on Geography, this region is further divided in to Brazil, Argentina, Mexico and rest of Latin America. Brazil has highest CAGR in this region
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Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
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Browse Full Report @ http://www.marketdataforecast.com/market-reports/latin-america-generic-drugs-market-2187/
Generic drugs are also known as abbreviated drugs. Generic Drugs are Equivalent or Bioequivalent to brand name drug in terms of Side effects, Risks, Dosage, Intended use, and Strength. Although they are equivalent to their brand name counterparts, they are sold at a substantially lower price. To sell a generic drug manufacturing company must submit an Abbreviated New Drug Application for approval after the patent of brand name counterpart expires.
Download Free Sample Report @ http://www.marketdataforecast.com/market-reports/latin-america-generic-drugs-market-2187/request-sample
The cost-effectiveness of abbreviated drugs has given it a competitive lead over branded drugs in the market. Key driving factor for generic drugs is patent expiry for branded drugs. Patent for Branded drugs with sales of up to USD 135 billion was expired in 2015. Nearly USD 150 Billion worth of patents for branded drugs will expire by 2020 which will give generic drugs a huge advantage. One more trend which influences market growth is outsourcing. Presence of some key players in this market and developing economies are some driving factors in this region. Vendors are using outsourcing as a strategy to reduce their capital which will be an advantage to generic drugs. Only restraint for this market is rigid rules setup by FDA for approval of these drugs and the threat of counterfeit drugs.
Generic drugs market is segmented into Biosimilars, Simple generic and Super generic. Based on therapeutic drugs, they are further segmented into Cardiovascular products, anti-infective products, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. Super generics are sold at higher price than their pure generic counterpart. Super generics account for 18% of total spending on generic drugs. But biosimilars are comparatively cost effective even among generic drugs. Biosimilar drugs is expected to have significant growth during the forecast period. Based on Geography, this region is further divided in to Brazil, Argentina, Mexico and rest of Latin America. Brazil has highest CAGR in this region
Avail Discount @ http://www.marketdataforecast.com/market-reports/latin-america-generic-drugs-market-2187/request-discount
Key players in this market are Ranbaxy Laboratories, Ltd, Actavis, Mylan, Inc., Industries, Ltd., Dr. Reddy’s Laboratories, Par Pharmaceutical, Inc., Sandoz International GmbH, Hospira, Inc., Apotex, Inc., Watson Pharmaceuticals, Ltd., Teva Pharmaceutical and others.
Buy now @ https://www.marketdataforecast.com/cart/buy-now/latin-america-generic-drugs-market-2187
About Market Data Forecast:
The publisher of this report is Market Data Forecast whose forte lies in Market research and Business Intelligence. Handling both individual and corporate clients across multiple business domains they offer syndicated/customized research to suit the client’s research objective. Their research reports section offers a wide variety of market studies ranging from all-encompassing comprehensive market studies to product specific niche markets covering Global among other regions of the global market as well. For more info kindly visit, www.marketdataforecast.com
Visit MarketDataForecast Blog @ http://www.marketdataforecast.com/blog/
View latest Press Releases of MDF @ http://www.marketdataforecast.com/press-releases
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Market Data Forecast.
Abhishek
Tel: +1-888- 702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results