Europe Generic Drug Market Demands, Analysis, Industry Report 2024-2032
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Simrankukreja123
Ongoing, First published Mar 27, 2024
drugeuropegenericmarket
How Big is the Europe Generic Drug Market?

The Europe generic drug market size reached US$ 61.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 110.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.6% during 2024-2032.

Request For a PDF Sample Report: https://www.imarcgroup.com/europe-generic-drug-market/requestsample

Europe Generic Drug Market Trends and Drivers:

The Europe generic drug market is primarily driven by the increasing healthcare costs and the escalating demand for more affordable medication options. Moreover, the patent expiration of numerous blockbuster drugs is opening the market to generic counterparts, offering similar therapeutic benefits at a fraction of the cost. Additionally, the government authorities of European countries are implementing measures to expedite the approval process for generic drugs, which is acting as another significant growth-inducing factor for the market.

Besides this, the escalating cases of chronic diseases, along with the growing aging population in the country, are further propelling the growth of the Europe generic drug market. Moreover, the shortages of brand-name drugs on account of manufacturing issues, regulatory challenges, and supply chain disruptions are resulting in an increased utilization of generic alternatives, which is creating a positive outlook for the overall market. Besides this, technological advancements in drug development and manufacturing processes to facilitate more efficient and cost-effective production are further catalyzing the growth of the market. 

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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