Generic drugs market to reach $358 billion by 2016

This is a time of growth and change for the generic pharmaceuticals sector, according to a new report added to the offering of MarketResarch.com. The report examines strategies employed by companies specializing in generics to meet the challenges of this highly competitive market, while also summarizing strategies employed by "originator" companies to forestall generic competition.

The global generics market is estimated at about $225 billion in 2011. By 2016, it is expected that the value of the total global generics sector will have risen to $358 billion, representing more than 18% of all pharmaceuticals, a projected compound annual growth rate (CAGR) of 9.7% between 2011 and 2016.

The North American market is estimated to reach nearly $73 billion in 2011 and is expected to increase at a 7.9% compound annual growth rate to reach nearly $107 billion in 2016.