Generic Oncology Drugs Market Size, Share, And Growth Report 2032

Generic Oncology Drugs Market: Size

The global Generic Oncology Drugs Market size was worth around USD 26.09 billion in 2023 and is predicted to grow to around USD 44.83 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.2% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Generic Oncology Drugs Market on a global and regional level.

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Generic Oncology Drugs Market: Overview

Branded oncology drugs are bioequivalent to generic drugs in dosage form, quality, strength, intended use, and administration route. After the expiry of the specific patent, any other manufacturer can copy and produce the same branded drugs at an affordable cost. The key advantage of generic drugs is that they are less expensive than branded drugs as they don't have to go through expensive clinical trial stages and pay for marketing, advertising, and promotion. Generic drugs should have the same active ingredient, the same administration route, the same dosage strength, and form as per FDA rules and regulations for branded drug substitution.

The two main growth factors expected to drive the generic oncology drugs market in the future are increasing expenditure on cancer-related research and development activities by multiple governments and private and commercial organizations and rising investments for anti-cancer drugs. It is anticipated that a notable product pipeline will drive profitable possibilities for generic oncology drugs market in the years ahead. Furthermore, with the industry pipeline achieving a historic level of late-stage growth, the generic oncology drugs market is expected to grow notably. The increasing research activities for oncology drugs by key companies operating in the generic oncology drugs market and a large number of pipeline products are also boosting the market globally. These companies are majorly focusing on developing generic forms of oncology drugs.

Generic Oncology Drugs Market: Segmentation

The study provides a decisive view of the global generic oncology drugs market is segmented on the basis of molecule, administration route, distribution channel, and region.

By molecule, the global generic oncology drugs market includes small and large molecules.

Based on administration route, the global market includes oral and parenteral.

The distribution channel segment of the generic oncology drugs market comprises hospital pharmacy, retail pharmacy, and online pharmacy.

Generic Oncology Drugs Market: Report Scope

Generic Oncology Drugs Market: Regional Analysis

The regional segment includes North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa.

The Asia Pacific generic oncology drugs market is expected to register a high rate of growth in the future and present important income generating possibilities for drug manufacturing companies. Increasing research and development activities related to biological and targeted drug therapies, early expiry of patents, and rising concentration on personalized therapy medication are some key factors contributing to the Asia Pacific market for generic oncology drugs. However, strict laws concerning drug discovery and development process in Japan could limit the regional market for generic oncology drugs.

Generic Oncology Drugs Market: Competitive Players

Some major companies in the global generic oncology drugs market are:

• Amgen
• Bayer Healthcare
• Teva Pharmaceutical
• Boehringer Ingelheim
• Pfizer
• AstraZeneca
• Eli Lily and Company
• Hoffmann-La Roche
• ARIAD Pharmaceuticals
• CELGENE Corporation
• GlaxoSmithKline
• Novartis
• Johnson and Johnson
• Merck
• AbbVie
• Sanofi

The Global Generic Oncology Drugs Market is segmented as follows:

Global Generic Oncology Drugs Market: Molecule Analysis

• Large Molecule
• Small Molecule

Global Generic Oncology Drugs Market: Administration Route Analysis

• Oral
• Parenteral

Global Generic Oncology Drugs Market: Distribution Channel Analysis

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Global Generic Oncology Drugs Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa