Generic Drugs Market - Databook 2025 to 2034

The global generic drugs market size surpassed USD 498.35 million in 2024 and is predicted to reach around USD 835.25 million by 2034, registering a CAGR of 5.3% from 2025 to 2034.

The generic drugs market refers to the production, distribution, and use of these drugs which is a medication created to be the same as an already marketed brand name drug in dosage form, strength, safety, quality, route of administration, intended use, and performance characteristics. These generics allow stronger type-checking, elimination casts, and the ability to develop generic algorithms. There is a high demand for these drugs in specialty chemicals, homecare, and hospitals which driving the growth of the generic drugs market.

• Generic medicines may cost less than brand-name medications. It can get to market quicker and be sold for much cheaper than brand drugs.

However, the challenging factors of the market include stringent regulations, quality & safety concerns, compliance issues, supply chain problems, and high initial investment that can slow down the growth of the market. The future scope of the market includes innovation in technologies, development of new manufacturing methods, reducing costs, expansion of distribution networks, development of new products, expansion of the market, and investment in infrastructure development that will help the growth of the generic drugs market.

Industry Valuation and Growth Rate Projection