The expanding world market of generic pharmaceuticals

The advantages of generic pharmaceuticals are acknowledged by policy makers worldwide, provided efficient national policies are in place, generics are available at reduced prices, drive competition and innovation, enhance access to essential medicines, ensure supply continuity, stimulate economic development, and generate savings for healthcare systems. This paper reviews the world market of generic pharmaceuticals, with special emphasis on the current situation and expected future development. Besides providing a global picture, different regions are separately examined by both assessing recent market analyses data, and by including recent literature on generics and their role in enhancing access to essential medicines. In view of the challenges in developing countries, the Republic of South Africa is dealt with in more detail. The analysis stresses the importance of this highly dynamic and competitive market, expected to continue to grow in the future, thus remaining an attractive business for new entrants, for mergers and for acquisitions.