IMARC Group, a leading market research company, has recently released a report titled “Europe Generic Drug Market Report by Segment (Unbranded Generics, Branded Generics), Therapy Area (Central Nervous System, Cardiovascular, Dermatology, Genitourinary/Hormonal, Respiratory, Rheumatology, Diabetes, Oncology, and Others), Drug Delivery (Oral, Injectables, Dermal/Topical, Inhalers), Distribution Channel (Retail, Hospital), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the Europe generic drug market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Europe Generic Drug Market?
The Europe generic drug market size reached US$ 61.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 110.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.
Request For a PDF Sample Report: https://www.imarcgroup.com/europe-generic-drug-market/requestsample
Europe Generic Drug Market Trends and Drivers:
The Europe generic drug market is experiencing robust growth, driven by efforts by governmental bodies to reduce healthcare costs and the patent expiration of numerous blockbuster drugs. Additionally, to ensure the sustainability of healthcare systems amid rising medical costs, the government authorities of the region are promoting the adoption of generic drugs as a cost-efficient solution, which is fueling the market. Besides this, as the existing patents on major drugs are expiring, there is a new opportunity for generic drug manufacturers to introduce affordable versions, further propelling market growth. Moreover, the growing prevalence of chronic diseases across Europe necessitates access to affordable medication, making generic drugs an essential component of healthcare regimes, which is contributing to the expansion of the market.
Emerging trends in the Europe generic drug market include a significant focus on biosimilars, owing to their potential to offer substantial savings in biologic drug spending. Additionally, as biologic treatments for conditions such as cancer and autoimmune diseases come off-patent, the development and approval of biosimilars are set to increase, intensifying competition and driving down prices, which is creating a positive outlook for the market. Furthermore, there is a growing emphasis on strategic partnerships and mergers among generic drug manufacturers to leverage resources, expand product portfolios, and enhance distribution networks, which is acting as another growth-inducing factor. In line with this, the market is also witnessing increased investment in research and development to improve drug formulations and delivery systems, ensuring patient compliance and efficacy, which is anticipated to drive the Europe generic drug market over the forecasted period.
Europe Generic Drug Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Segment:
- Unbranded Generics
- Branded Generics
By segment, the market is categorised into unbranded generics and branded generics.
Breakup by Therapy Area:
- Central Nervous System
- Cardiovascular
- Dermatology
- Genitourinary/Hormonal
- Respiratory
- Rheumatology
- Diabetes
- Oncology
- Others
By therapy area, central nervous system represented the largest segment because of high prevalence and increasing demand for treatments related to mental health and neurological disorders in Europe.
Breakup by Drug Delivery:
- Oral
- Injectables
- Dermal/Topical
- Inhalers
By drug delivery, oral represented the largest segment due to its ease of administration, patient compliance, and widespread applicability across various drug types.
Breakup by Distribution Channel:
- Retail
- Hospital
By distribution channel, retail pharmacies represented the largest segment as they offer accessibility, convenience, and a broad range of generic drugs to the general public.
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Country wise, the market is segmented into Germany, France, the United Kingdom, Italy, Spain, and others.
Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=3276&flag=C
Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
