(PharmaNewsWire.Com, October 16, 2024 ) The Generic Drugs Market size was valued at USD 431.15 Billion in 2023 and the total Generic Drugs Market revenue is expected to grow at a CAGR of 5.22% from 2024 to 2030, reaching nearly USD 615.72 Billion.
In 2023, North America dominated the generic drugs market with a share of 33.21%. The high income in North American countries can be attributed to the presence of numerous players. During the forecast period, the Asia Pacific region is projected to experience the highest compound annual growth rate (CAGR) of 6.42% in the generic drugs market. Asia's lower manufacturing costs and talented workforce could be the reason for this. India has the second highest number of generic drug manufacturing facilities approved by the FDA, after the United States, as reported by MMR.
Maximize Market Research has also published the following reports:
Xenotransplantation Market size was valued at USD 13.8 billion in 2023 and is expected to reach USD 25.2 billion by 2030, at a CAGR of 8.94%.
Tongue Depressors Market size was valued at USD 236.4 million in 2023 and the total tongue depressors market revenue is expected to grow at a CAGR of 3.40% from 2024 to 2030, reaching nearly USD 291.5 million by 2030.
Virtual Hospital Market was valued at USD 11.05 billion in 2023, and its total revenue is expected to grow at a CAGR of 31.5 % from 2024 to 2030, reaching nearly USD 75.40 billion by 2030.
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