October 22, 2010
Generic drugs account for more than 70% of prescriptions dispensed in the U.S. and that figure is expected to grow as brand drugs come off patent and face generic competition.
The U.S. represents 41% of the global generics market, but significant growth is expected for generic products in the rest of the world during the next few years as U.S.-based pharma companies look to expand their competitive presence abroad with both generic and branded products.
Experts predict that the European generics market will grow at twice the rate of the branded pharmaceutical sector in that region during the next five years. The world’s second-largest pharma market, Japan, generates worldwide pharmaceutical sales of about $64.5 billion. However, only 6.6% of the nation’s prescription drug sales are accounted for by generics. In addition, a reported 40% of pharma products available in Japan are off-patent and thus subject to generic competition.
The worldwide market for advanced drug-delivery systems reached $134.3 billion in 2008 and is projected to increase to $196.4 billion by 2014. Drug-delivery firms continue to be popular partnership and M&A targets for pharma, biotech, and device companies. Despite recent advances, there continues to be significant unmet needs for drug-delivery technologies that improve safety and efficacy, increase patient compliance, provide greater ease of use, expand product indications, and reduce cost. Drug-delivery companies can add value to the industry and investors by meeting these needs as well as developing business models that include multiple technology platforms and product opportunities.
PharmaLive’s most recent Special Report, Top 50 Specialty Companies 2010, examines the generic, niche, and drug-delivery sectors, leading companies, as well as market drivers and technological advances.
“The dynamics of the specialty pharma market are dramatically changing as big pharma gains entrance, and competition as well as demand continually increase,” says Andrew Humphreys, editor in chief of UBM Canon Data Products Group. “Segments with strong growth potential include specialty generics, branded generics, biosimilars, and devices with advanced electronic functionality.”
More information is available in PharmaLive’s newest Special Report, Top 50 Specialty Companies 2010, including expert analysis of the current conditions and future outlook for the generics sector, the impact of generics on brand sales, new drug-delivery technologies, as well as potential investment, partnership, and acquisition opportunities in these sectors. This report can be found at www.PharmaLive.com/specialreports <http://www.pharmalive.com/specialreports> .
About Canon Data Products Group
Canon Data Products Group, a division of Canon Communications LLC, publishes PharmaLive Special Reports and Appliance Market Research Reports, which provide financial, company, and product statistical data and qualitative analysis for the global pharmaceutical, biotechnology, medical device, and appliance industries; maintains eKnowledgeBase and MDRWeb, comprehensive market intelligence tools serving the pharmaceutical, biotechnology, and medical-device sectors; and manages company-wide Site Licenses for PharmaLive.com, Med Ad News, and R&D Directions.
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