US generics market, worth $74 billion in 2009, set to grow at 10% CAGR
The US generics market has shown a solid growth during the past few years backed by factors, such as government support, increasing awareness level, patent expiry of blockbuster drugs, price differences, and aging population.
The generic drugs industry in the US stood at $74 billion in 2009, and is likely to expand further at a compound annual growth rate (CAGR) of around 10% during 2010-2013. In value terms, generic drugs had a share of around 25% in the total US pharmaceutical market during 2009, which is expected to reach around 28% by 2013, according to a new report from market intelligence firm RNCOS, titled Booming US Generic Drug Market.
Being boosted by PPIs
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