Global Generic Drugs Market 2018-2022| Availability of Low-cost Alternatives to Promote Growth| Technavio

The global generic drugs market is expected to post a CAGR of more than 10%
during the period 2018-2022, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global generic drugs market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the availability of
low-cost alternatives. Generic drugs are available at a lower cost when
compared with branded drugs as generic drug applicants do not have to
repeat the animal and clinical studies that were required to demonstrate
the safety and effectiveness of brand-name medicines. Generic drug
companies do not have to incur high initial drug development costs.
Thus, these drugs cost about 85% lesser than their brand-name
equivalents.

This market research report on the global
generic drugs market 2018-2022 also provides an analysis of the
most important trends expected to impact the market outlook during the
forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.

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only: View
market snapshot before purchasing

In this report, Technavio highlights the advent of RPA as one of the key
emerging trends in the global generic drugs market:

Global generic drugs market: Advent of RPA

The pharmaceutical companies have been using business process automation
technologies such as RPA for R&D and manufacturing. RPA involves the use
of software with artificial intelligence and machine learning
capabilities to handle high-volume and repeatable tasks. RPA technology
involves software that logs into applications, enters data, calculates
and completes the necessary tasks, and logs out.

“Several companies are using AI for pharmaceutical R&D and
manufacturing as digital robots can perform high-volume and repeatable
tasks. The speed at which such digital robots complete the processes
involved in manufacturing will allow CROs to execute recurring processes
faster. This will lead to increased efficiency,” says a senior
analyst at Technavio for research on cardiovascular and metabolic
disorders.

Global generic drugs market: Segmentation
analysis

This market research report segments the global generic drugs market by
application (anti-infectives and CNS) and geography (APAC, EMEA, and the
Americas).

Anti-infectives are agents that act against infections either by
inhibiting the spread of an infectious agent or by destroying the
infectious agent. Anti-infective drugs are required to destroy
infectious agents that cause several infections in the human body such
as tuberculosis, sepsis, and smallpox.

The Americas led the market in 2017 with close to 41% of the market
share, followed by APAC and EMEA respectively. The Americas is expected
to dominate the global market throughout the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005478/en/

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