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The US generic drug market reached a value of US$ 127.8 Billion in 2020.
According to the estimates by IMARC Group, the US generic drug market is expected to exbibit strong growth during 2021-2026.
The rising incidences of chronic diseases, such as cancer, diabetes, obesity, Alzheimer’s and Parkinson’s, on account of sedentary lifestyles and the increasing consumption of fast food represents one of the key factors propelling the market growth in the country.
The US government is encouraging the adoption of generic drugs to minimize healthcare expenditure in the country. This, along with the upcoming patent expiration of several branded drugs, is among the major trends in the market.
The market growth is currently hampered due to the surging cases of the coronavirus disease (COVID-19), which have resulted in supply chain disruptions and rescheduling of medical care services.
On the basis of the segment, the market has been bifurcated into unbranded and branded generics.
Based on the therapy area, the market has been segregated into CNS, cardiovascular, dermatology, genitourinary/hormonal, respiratory, rheumatology, diabetes, oncology and others.
The market has been analyzed on the basis of the drug delivery into oral, injectables, dermal/topical and inhalers.
Based on the distribution channel, the market has been classified into retail and hospital pharmacies.
Leading industry players are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, Endo International PLC, Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Mylan N.V. and Lupin Limited.
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