According to IMARC Group’s latest report, titled “North Africa Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth in 2020. A generic drug refers to a pharmaceutical medication that has the same active pharmaceutical ingredients (APIs) as a branded drug. It is developed after the expiration of the patent on the original drug and is identical to it in terms of dosage, quality, strength, efficiency, performance, etc. Generic drugs are usually available in the oral, dermal, injectables, and inhalable variants. They are extensively utilized in the cost-effective treatment of cardiovascular diseases (CVDs), diabetes, respiratory disorders, etc. Generic drugs are widely used in pharmacies and hospitals across North Africa.
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The rising prevalence of chronic medical diseases and the escalating need for affordable treatment options are some of the primary factors driving the North Africa generic drug market. In addition to this, several favorable initiatives by government bodies aimed at promoting domestic drug manufacturing are further stimulating the market growth. Moreover, numerous branded drugs are nearing their expiration dates, which is also catalyzing the North Africa generic drug market. Besides this, the introduction of biosimilar drugs and formulations in the market is acting as another significant growth-inducing factor. Furthermore, the emerging trend of collaborations between hospitals, government bodies, and philanthropies to address drug shortages by investing in generic drug companies is also positively influencing the market growth. Apart from this, the launch of re-innovated generics with reduced hypersensitivity and intra- and inter-patient variability is anticipated to fuel the North Africa generic drug market over the forecasted period. Looking forward, the market is expected to continue its strong growth during the forecast period (2021-2026)
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Segment:
- Unbranded Generics
- Branded Generics
Breakup by Therapy Area:
- Central Nervous System
Breakup by Drug Delivery:
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
Breakup by Country:
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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