Generic Medicine Market size was valued at USD 495.6 Billion in 2023 and is expected to reach at a CAGR of 5.7%

The generic medicine market size was valued at USD 495.6 Billion in 2023 and is expected to reach a market size of USD 818.3 Billion by 2032 at a CAGR of 5.7%.
Read More: https://www.globenewswire.com/news-release/2024/04/07/2858827/0/en/Generic-Medicine-Market-To-Reach-USD-818-3-Billion-By-2032-Says-DataHorizzon-Research.html

The generic medicine market has experienced significant growth in recent years, reflecting a global trend towards cost-effective healthcare solutions. Generic drugs are bioequivalent to brand-name medications but are typically sold at a fraction of the cost. This affordability, coupled with the expiration of patents on many blockbuster drugs, has fueled the expansion of the generic medicine market worldwide.

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Several key factors contribu