Increasing Incidences of Chronic Diseases across the globe
The escalating prevalence of chronic diseases worldwide is acting as a significant catalyst for the expansion of the global generic drug market. With conditions like cancer, neurology, cardiovascular diseases, inflammatory diseases, and others on the rise, there's an amplified demand for cost-effective treatment options, compelling patients and healthcare providers to turn towards generic medications. Generic drugs, being bioequivalent to their brand-name counterparts but more affordable, offer a viable solution for managing chronic illnesses without burdening healthcare budgets. This burgeoning demand for generics is not only driven by patients seeking affordable therapies but also by healthcare systems and governments striving to contain healthcare expenditure while ensuring widespread access to essential medications.
The increase in the incidences of various types of cancer across the world is the major factor anticipating the growth of the market. Cancer is one of the leading causes of death globally, and the incidence of cancer is expected to continue rising in the coming years. This rise can be attributed to several factors such as an aging population, unhealthy lifestyle choices, environmental factors, and genetic predisposition. For instance, as per the World Health Organization, it was estimated that about 20 million new cancer cases were diagnosed in 2022. Furthermore, according to the Global Cancer Observatory, it was estimated that about 49.2% of cancer cases were diagnosed in Asia, 22.4% in Europe, 13.4% in Latin America. 7.8% in Caribbean and others (7.2%) in 2022. Thus, surge in cancer cases has prompted researchers, pharmaceutical, and biotechnology companies to focus on developing and advancing cancer drugs to combat this deadly disease. For instance, in March 2024, Zydus Lifescience (India) launched anti-cancer generic drug olaparib in India. This drug has had been launched under the brand name of IBYRA in India, making advanced cancer treatment accessible to all.
Moreover, neurological diseases, such as Alzheimer's, Parkinson's, and epilepsy, are witnessing a surge in prevalence globally, driving up the demand for affordable treatment options. For instance, in February 2024, the World Health Organization reported that around 50 million people worldwide were suffering from epilepsy, and nearly 80% of people with epilepsy live in low- and middle-income countries. Also, in 2022, a Parkinson’s Foundation-backed study revealed that virtually 90,000 people are diagnosed with Parkinson’s disease each year in the US. Further, the Alzheimer’s Disease Foundation reported that there were around 50 million people living with dementia around the world in 2020.
Additionally, the increasing incidence of cardiovascular conditions worldwide is burgeoning the growth of the generic drugs market. As per the American Heart Association, there were nearly 244.1 million people living with ischemic heart disease (IHD) in 2020. Also, in May 2023, the Centers for Disease Control and Prevention reported that 805,000 people in the US have heart attacks every year. Also, the rising cases of inflammatory diseases such as rheumatoid arthritis and bowel inflammatory diseases across the globe are boosting the growth of the generic drugs market. For instance, as per the World Health Organization, 18 million people were suffering from rheumatoid arthritis in 2019, of which 70% were women and 55% were older than 55 years. Moreover, Crohn’s & Colitis UK suggested that one in every 123 people in the UK will have had either Crohn’s disease or ulcerative colitis in 2022.
Consequently, the increasing incidence of chronic diseases across the globe is fundamentally reshaping the landscape of the generic drug industry, with generic drugs emerging as a pivotal player in addressing the healthcare needs of millions worldwide.
Rising strategic initiatives by market players
The increasing number of strategic initiatives, such as product launches and expansion are driving growth in the generic drugs market. These initiatives are aimed at introducing affordable treatment options to the market, addressing unmet medical needs, and improving patient outcomes. PFB the list of some key strategies adopted by the key players operating in the market.
March 2025: Alkem Laboratories Ltd. has launched its generic empagliflozin, branded as "Empanorm," in India, offering prices around 80% lower than innovator products. Used for treating type-2 diabetes, chronic kidney disease, and heart failure, the bioequivalent generic ensures similar efficacy. The company has added anti-counterfeit security bands, along with educational materials and QR codes in 11 languages for patient convenience. Alkem also offers various combinations, including "Empanorm L" (empagliflozin and linagliptin), "Empanorm Duo" (empagliflozin and sitagliptin), and "Empanorm M" (empagliflozin and metformin).
June 2023: Dr. Reddy’s Laboratories (India) entered into a trade generic and with this the company is aiming to be a top five players in market. Moreover, the company launched a dedicated division called RGenX’ for this.
January 2023: BDR Pharma has launched India’s first generic apalutamide, "Apatide," for treating metastatic castration-sensitive and non-metastatic castration-resistant prostate cancer. Available in 60 mg strength, it comes in 60-tab and 120-tab packs. Apalutamide, combined with anti-androgen therapy, improves survival rates and reduces disease progression. Clinical data from the SPARTAN trial show a 71% reduction in the risk of progression or death. With prostate cancer on the rise globally, apalutamide offers a significant treatment option to improve survival and quality of life in India, where it is a leading cause of cancer among men.
December 2022: Amneal Pharmaceuticals, Inc. (US) launched 26 new generic products in 2022. Furthermore, in the fourth quarter of 2022, the company launched 8 new generic products, including ipratropium bromide nasal sprays, clindamycin phosphate gel 1%, and prednisolone sodium phosphate oral solution.
July 2022: Biological E. Limited (India) invested USD 226.78 million in Hyderabad Genome Valley. It is primarily to ramp up the manufacturing of generic Injectable.
August 2020: Jubilant Life Sciences (India) launched Remdesivir injection in the Indian market. This injection was launched under the brand name of ‘JUBI-R’ and Jubilant company made the drug available to approximately 1,000 hospitals in India during the COVID-19 pandemic.
In conclusion, the growing number of strategic initiatives such as product launches, market expansions, and manufacturing investments are propelling growth in the generic drugs market. These initiatives are focused on providing affordable and effective treatment options, addressing critical healthcare needs, and improving patient outcomes across diverse therapeutic areas. Key players like Alkem Laboratories, Dr. Reddy’s, BDR Pharma, Amneal Pharmaceuticals, Biological E, and Jubilant Life Sciences are driving innovation and making significant contributions to increasing access to essential medications.
rising demand for affordable medications
The rising demand for affordable medications is one of the most influential factors propelling the growth of the global generic drugs market. Generic drugs are chemically identical to their branded counterparts in terms of active ingredients, dosage, strength, and intended use, but they are significantly more affordable. This price disparity arises because generic manufacturers do not incur the same high development and marketing costs that branded drug companies do, enabling them to sell their products at a lower price.
