Generics market in Germany set to reach $9.5 billion by end 2021

Germany has a historical reputation as being a global leader in the pharmaceutical industry, being the headquarters of many global stalwarts such as Bayer, BASF, Stada, etc, according to a report added to Research and Markets offering, titled: "Analyzing Generics Market in Germany 2017"

The German pharmaceutical industry enjoys stability and therefore, it comes as no surprise that the generic drugs sector in Germany has also had a stable growth in recent years. Generic medicines contribute significantly to the German drug supply and the government has been making all efforts to further boost this sector with attractive pricing and innovations. In fact, in 2015, the volume share of generic drugs in Germany was over 75%, much higher than the share in other European countries.

In 2016, the German generics sector comfortably crossed revenues of $8 billion and is expected to reach a value of nearly $9.5 billion by the end of 2021. As many generic drugs come off patent, the German generic industry is poised to take advantage of this situation and post further growth in coming years.