United Kingdom generic drugs
market is anticipated to register growth with an impressive CAGR in the
forecast period, 2023-2027. The market growth can be attributed to growing
instances of chronic diseases. Rising demands for the prolonged dosages for the
treatment for various diseases instances of which is further rising and driving
the growth of the United Kingdom generic drugs market in the upcoming five
years. Additionally, increasing application of the robotic process automation
and expiring branded medicine patents also fuel the growth of the United
Kingdom generic drugs market in the future years.
Generic drugs are medicines that has
exactly same active ingredients, same safety standards, are equally effective,
and are of high quality as much as the branded drugs but are much cheaper than
the branded drugs. Dosage, therapeutic activity, administration, and
formulation of the generic drug is exactly same as that of the branded drugs. The
major difference between the two is the cost of drugs and inert ingredients
that give the drug its color, shape or taste. Manufacturing of generic drug may
only take place once the patent of the branded drug expires. In that case, the
chemical formula of the drug is duplicated, with minor changes to the salt that
may or may not occur, is manufactured. The generic drugs do not require extensive
clinical trials to prove safety and its efficiency. If the molecule formula and
safety standards are followed during the manufacturing the drug is soon
released in the market thus making the manufacturing process cost-efficient
thus the low prices of the drugs.
Expanding Pharmaceutical
Industry Promises Market Growth
Pharmaceutical industry is rapidly
expanding in the country through higher demands for the potent products and
increasing dependency of the population over drugs and medicines. Higher
investments in the pharmaceutical industry and competitors in the industry
actively investing their resources toward increasing manufacture of the generic
drugs facilitates the growth of the United Kingdom generic drugs market in the
upcoming five years.
In 2019, the annual turnover
of pharmaceutical goods wholesalers in the UK was over USD63 billion. Imports
of pharmaceutical products from other countries have considerably decreased in
2020 valued at USD20,871 million from USD23,458 million in the year 2019.
Decreased imports points to increased research and development along with
growing inclination of the consumers toward generic drugs, thereby
substantially supporting the growth of the United Kingdom generic drugs market
in the next five years.
Sedentary Lifestyle Fuels
Market Growth
The population in the country
is highly inclined to junk food and fast food as a regular consumption along
with the increased consumption of alcohol and excessive smoking. The lack of
physical workout along with the sedentary lifestyle is the major factor leading
to various diseases like obesity, higher blood pressure, diabetes, etc. that
may further lead to the chronic diseases like cardiovascular diseases, or
cancer. Increasing instances of the diseases and demand for the medicines and
other drugs for the treatment drive the growth of the United Kingdom generic
drugs market in the upcoming five years.
Although, the population is
steadily inclining toward healthier life and losing weight, the demands for the
weight loss medicines like Orlistat is increasing and substantiating the growth
of the United Kingdom generic drugs market in the next five years. The NHS
spent £8,167,383 on Orlistat in 2020 in England. It is the prescription only
weight loss aid that is licensed in the country for sale.
Click here to download the sample
Market Segmentation
The
United Kingdom generic drugs market is segmented by type, mode of drug
delivery, form, source, distribution channel, application, competitional
landscape, and regional distribution. Based on type, the market is
differentiated between small molecule generics and biosimilars. By mode of drug
delivery, the market is further segmented into oral, topical, parenteral, and others.
Based on form, the market is fragmented into tablet, capsule, injection, and others.
By source, the market is differentiated into in house and contract
manufacturing organizations. Based on distribution channel, the market is
bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies.
By application, the market is also segmented into cardiovascular diseases,
diabetes, neurology, oncology, anti-inflammatory diseases, and others. The market
analysis also studies the regional segmentation to devise regional market
segmentation, divided among London, East Anglia, Southwest, Southeast,
Scotland, East Midlands, and Yorkshire & Humberside.
Company Profile
GlaxoSmithKline Plc., Abbott
Laboratories Limited, Eli Lilly and Company Limited, Teva UK Limited, Mylan UK
Healthcare Limited, Pfizer Limited, Novartis UK Limited, Sun Pharmaceuticals UK
Limited, among
others is a partial list of major market players of the companies responsible
for the growth of United Kingdom generic drugs market.
|
Attribute
|
Details
|
|
Base Year
|
2021
|
|
Historical Data
|
2017 – 2020
|
|
Estimated Year
|
2022
|
|
Forecast Period
|
2023 – 2027
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
|
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments covered
|
·
Type
·
By Mode of Drug Delivery
·
Form
·
Source
·
Distribution Channel
·
Application
|
|
Regional scope
|
London, East Anglia, Southwest, Southeast, Scotland, East
Midlands, and Yorkshire & Humberside
|
|
Key companies profiled
|
GlaxoSmithKline Plc., Abbott Laboratories
Limited, Eli Lilly and Company Limited, Teva UK Limited, Mylan UK Healthcare
Limited, Pfizer Limited, Novartis UK Limited, Sun Pharmaceuticals UK Limited
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, United Kingdom generic drugs market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- United Kingdom Generic Drugs Market,
By Type:
- Small Molecule Generics
- Biosimilars
- United Kingdom Generic Drugs
Market, By Mode of Drug Delivery:
- Oral
- Topical
- Parenteral
- Others
- United Kingdom Generic Drugs Market,
By Form:
- Tablet
- Capsule
- Injection
- Others
- United Kingdom Generic Drugs
Market, By Source:
- In House
- Contract Manufacturing
Organizations
- United Kingdom Generic Drugs Market,
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- United Kingdom Generic Drugs
Market, By Application:
- Cardiovascular Diseases
- Diabetes
- Neurology
- Oncology
- Anti-Inflammatory Diseases
- Others
- United Kingdom Generic Drugs Market,
By Region:
o London
o East Anglia
o Southwest
o Southeast
o Scotland
o East Midlands
o Yorkshire & Humberside
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United Kingdom generic drugs market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
United Kingdom Generic Drugs Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]