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THE PHARMA REVIEW (SEPTEMBER - OCTOBER 2011)

Global Generics Market - The Outlook

Cygnus

Abstract
The Market is set to double in the next five years in emerging markets. The global generics sector is set to play a major role in the future pharmaceutical industry. With major therapeutics coming off patent and increasing demand for low cost medication, several big players are moving into the generic drugs market - spearheaded by leading pharma companies and specialist pharma organizations especially in Pharmerging markets. The global generics market grew at a rate of 7.9% to reach US$123 billion in 2010, which is expected to grow at a CAGR of 10% to reach US$198 billion by 2015. More than 80% of the total global generic market is held by ten key markets such as the USA, Canada, Germany, the UK, France, Spain, Italy, Japan, China and India. The growth is triggered by various factors such as the cost advantage offered by generics compared with the branded drugs and the increasing number of patent expiries of blockbuster drugs over the years. Cygnus envisages a huge potential for Anti-Retroviral drugs (ARV) in developing markets, which would trigger the growth for domestic generic companies over the next couple of years. Currently, approximately 60% of the ARV drugs for the treatment of HIV/AIDS are sourced from India.

 
Emerging Trends in Global Generic Market

 
Mergers & Acquisitions

The global generics industry is undergoing a phase of consolidation. Global pharma players continue to penetrate the burgeoning emerging markets by acquiring domestic generics and manufacturing companies, which accounted for nearly 50% of M&A targets of deals during 2008 to 2010 in the emerging markets while North America, Europe, Australia and Japan registered only 21% of targets. It has helped the market to improve the market share.
Distribution Channel
Currently, major pharmaceutical companies are following new strategies for the distribution of generic medicines to better reach the patients and build better rapport with consumers. The channels that supplies products from manufacturers to patients are moving towards direct distribution and dispensing thus replacing traditional middlemen and non-retail distribution channels. Moreover, the community pharmacy models are booming with more patients receiving medicines at their home, through home healthcare, mail order or internet pharmacy, or at a hospital or clinic. This trend opened up unprecedented opportunities and enabled pharma companies to reach patients more easily and even to build direct relationships with them.

 

 

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