UK Generic Drugs Market Trends, Size, Competitive Analysis and Forecast 2020-2026
UK
generic drugs market is estimated to grow at a CAGR of
nearly 6.1% during the forecast period. Significant prevalence of chronic
diseases such as cancer, diabetes, and CVD is primarily driving the market
growth. As per the World Health Organization (WHO) estimation, there will be
457,960 new cancer incidences reported in 2020. Generic drugs have been playing
a vital role in cancer treatment. For instance, in everyday practice, patients
suffering from early-stage breast cancer, and children suffering from acute
lymphoblastic leukemia are treated using generic drugs. In cancer care, generic
drugs are also significantly used in supportive care beyond chemotherapy.
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Moreover, as per Diabetes UK,
in 2018-2019, there were 3.9 million people who have been diagnosed with
diabetes in the UK. This leads to an increasing demand for generic medicines
for diabetes which include Glyburide, Glimepiride (Amaryl), and Glipizide.
Further, Eli Lilly offers a generic version of Sanofi’s Lantus insulin, named
Abasria insulin that is recommended for the treatment of diabetes. Cost is the
major benefit associated with the use of generic drugs. The cost of generic
drugs can be up to 85% lower compared to the brand-name drug. This, in turn, is
supporting to drive market growth.
A full Report of UK Generic
Drugs Market is Available at: https://www.omrglobal.com/industry-reports/uk-generic-drugs-market
·
Market number available for 2019-2026
·
Base year- 2019
·
Forecast period- 2020-2026
·
Segment Covered- By Application and Route of
Administration
·
Competitive Landscape- Mylan N.V., Teva
Pharmaceutical Industries Ltd., AstraZeneca plc, Hikma Pharmaceuticals plc, and
Novartis International AG
Recent Strategic Initiatives
in the UK Generic Drugs Market
·
In November 2020, the European Medicine Agency’s
(EMA) declared that it recommends granting marketing authorization for the
generic drug Lenalidomide Mylan (lenalidomide). This hard capsule is indicated
to treat follicular lymphoma and multiple myeloma. It is a generic version of
Celgene’s Revlimid, approved in the European Union (EU) since 2007.
·
In July 2019, Sandoz, a part of Novartis
International AG declared the introduction of the generic cancer drug gefitinib
which is intended for adult patients suffering from locally advanced or
metastatic non-small cell lung cancer. It is available in 13 countries across
Europe and the company will constantly widen to other countries through a
phased rollout.
UK Generic
Drugs Market-Segmentation
·
Cancer
·
CVD
·
Musculoskeletal
Diseases
·
Infectious
Diseases
·
Neurology
·
Diabetes
·
Others
By Route of
Administration
·
Oral
·
Topical
·
Injectable
·
Inhaler
Company
Profiles
·
AstraZeneca
plc
·
Aurobindo
Pharma Ltd.
·
Biocon
Ltd.
·
GlaxoSmithKline
plc
·
Glenmark
Pharmaceuticals Ltd.
·
Hikma
Pharmaceuticals PLC
·
Lupin
Ltd.
·
Mylan
N.V.
·
Sun
Pharmaceutical Industries Ltd.
·
Teva
Pharmaceutical Industries Ltd.
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