Israel Generic Drugs Market to Gain from High Demand for Generic Drugs
Rapid
technological advancements and the rising case of chronic and infectious
diseases are expected to drive the Israel generic drugs market
during the forecast period.
According to the TechSci
Research report, “Israel
Generic Drugs Market – By Region, Competition, Forecast, and Opportunities, 2028”, the Israel generic drugs market is anticipated to grow at a significant
rate during the forecast period. Generic
drugs are typically cheaper than brand-name drugs because they do not require
the same level of investment in research and development, marketing, and patent
protection. This makes them more affordable for consumers, insurers, and
healthcare systems, allowing for cost savings. hence augmenting the growth of the
market. The availability of generic drugs promotes healthy competition in the
pharmaceutical market, which can lead to innovation and the development of new
drugs.
When
the patents of brand-name drugs expire, generic versions can enter the market,
creating competition and potentially driving down prices. This can incentivize
innovation among pharmaceutical companies to develop new and improved drugs to
stay competitive, which is likely to boost the Israel generic drugs market over
the forecast period. However,
the issue of intellectual property
(IP) rights and patent protection, low awareness, and education about
generic drugs among patients, healthcare providers, and the general public, and
limited coverage may hamper the growth
of the Israel generic drugs market in the forecast period.
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The Israel generic drugs
market is segmented by type, application, drug
delivery, distribution channel, and region
Based on type, the market is divided into pure generic drugs and branded
generic drugs. The branded generic drugs segment is expected to witness a rise
over the forecast period. This is attributed to the fact that branded generic
drugs are prescription medications developed to be identical to a brand-name
drug that has already been commercialized in dosage form, strength,
administration method, quality, performance attributes, and intended use.
Based on application, the market is divided
into CNS, cardiovascular, dermatology,
genitourinary/hormonal, respiratory, rheumatology, diabetes, oncology, and
others. The oncology segment
is anticipated to grow at a faster rate during the forecast period. This is
attributed to the growing cases of cancer due to changing lifestyles.
Based on drug delivery, the market is divided
into oral, injectables, dermal/topical, and inhalers. The oral segment is
anticipated to grow at a faster rate during the forecast period. This is
attributed to its benefits, including non-invasiveness, patient compliance, and
ease of drug administration.
Based on distribution channel, the market is divided
into retail pharmacies and hospital
pharmacies. The hospital
pharmacies segment is expected to witness a rise over the forecast
period. This is attributed to Retail pharmacists occasionally making changes
based on the medications in stock, although they tend to concentrate more on
common ailments and treatments. Hospital pharmacists typically handle more
complicated cases, particularly those that call for patients to stay in the
hospital for observation.
Major companies operating in the
Israel generic drugs market are:
- Vitamed Pharmaceutical
Industries Ltd
- Perrigo Israel
Pharmaceuticals Ltd.
- Taro Pharmaceutical
Industries Ltd
- Bonus BioGroup Ltd
- Teva Pharmaceutical
Industries Ltd.
- Rafa Laboratories ltd
- Dexcel Pharma
Technologies Ltd.
- Unipharm Ltd
- Fischer pharmaceuticals
limited
- Beit jala
pharmaceuticals
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“The Central Hill Region” is expected
to lead the generic drug market in Israel over the next few years, owing to the
presence of good infrastructure and support from the government. Also, by
providing affordable alternatives to expensive brand-name drugs, generic drugs
can help ensure that patients can access the medication they need to manage
their health conditions, and the utilization of generic drugs is often seen as
a cost-effective strategy. Many healthcare systems and insurance plans
incentivize or mandate the use of generic drugs to save costs. As healthcare
cost containment efforts continue, the demand for generic drugs is likely to
increase, driving the generic drug market in Israel through 2028,” said Mr.
Karan Chechi, Research Director at TechSci Research, a research-based global
management consulting firm.
Israel
Generic Drugs Market, By Type (Pure Generic Drugs, Branded Generic Drugs), By
Application (CNS, Cardiovascular, Dermatology, Genitourinary/Hormonal,
Respiratory, Rheumatology, Diabetes, Oncology, and Others), By Drug Delivery
(Oral, Injectables, Dermal/Topical, and Inhalers), By Distribution Channel
(Retail Pharmacies, Hospital Pharmacies), By Region, Competition, Forecast
& Opportunities, 2028 has evaluated the future
growth potential of Israel generic drugs market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Israel generic drugs market.
Contact
Mr. Ken
Mathews
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Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com