According to our recent research report “Booming US Generic Drug Market”, the generics market in the US has been surging at a fast pace for the past few years. Despite an economic slowdown, the market continued to perform well and had good revenue patterns. The growth is mainly driven by factors, like patent expiration of key blockbuster drugs, aging population, supporting political environment, and increasing pressures from insurance firms to reduce healthcare costs. The generic drugs industry in the US was valued at US$ 74 Billion in 2009, and is expected to grow further at a CAGR of around 10% during 2010-2013.
Our report has found that the government support through various policies and laws is one of the most important boosting factors for the US generics market. Healthcare Bill 2010 provides a revamping amount of nearly US$ 2.5 Trillion to the country’s healthcare sector. As generic medicines saved US$ 139.6 Billion in 2009 and US$ 824 Billion during the last decade for the US healthcare system, the officials prefer cost allocation to generics in spite of other branded drugs. Overall the proposal will benefit the generic industry of the country.
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