Generic Drug Market: Industry Insights, Trends, and Forecast (2025-2032)
The Generic Drug Market, valued at USD 453.65 billion in 2024, is projected to reach nearly USD 681.57 billion by 2032, growing at a CAGR of 5.22%. The market's growth is driven by increasing demand for cost-effective medications, patent expirations of branded drugs, and regulatory support for generic alternatives. Generic drugs offer the same efficacy, safety, and quality as branded counterparts while being significantly more affordable.