Generic Drug Industry Statistics

In this post, we explore significant statistics surrounding the generic drug industry, shedding light on its immense impact on the global pharmaceutical landscape. From cost savings to market share dominance, these statistics offer a compelling glimpse into the world of generic drugs and their vital role in healthcare systems worldwide.

Statistic 1

"In 2020, the global pharmaceutical industry was worth nearly 1.3 trillion U.S. dollars."

Statistic 2

"More than 2 billion prescriptions a year are filled with generic drugs."

Statistic 3

"The average co-payment for a generic drug is $6, compared with $30 for a non-preferred branded product."

Statistic 4

"In 2019, 9 out of the 10 most dispensed drugs in the U.S. were generic."

Statistic 5

"The conversion rate to generic drugs is typically 80-90% within six months after patent expiration of branded drugs."

Statistic 6

"It is estimated that generic drug use has generated more than $2 trillion in savings over the past decade."

Statistic 7

"India is the largest provider of generic drugs globally with a 20% global export volume share."

Statistic 8

"36% of total healthcare institutional medicine spending was on generic drugs in 2019."

Statistic 9

"The U.S accounts for nearly half of the global pharmaceutical market, with the generics market playing a significant role."

Statistic 10

"In 2018, the FDA approved a record-breaking 781 generic drugs."

Statistic 11

"The U.S FDA states that generic drugs can cost up to 85% less than brand name drugs."

Statistic 12

"In Canada, 76% of all dispensed prescriptions in 2019 were generic drugs."

Statistic 13

"Generic drugs saved the U.S healthcare system around 313 billion dollars in 2019."

Statistic 14

"Oncology drugs dominate the branded drugs landscape, but the share of generic oncology drugs rose from 2.2% in 2010 to 8% in 2018."

Statistic 15

"More than 80% of the active pharmaceutical ingredients used in U.S prescription drugs are produced overseas."

The statistics presented showcase the significant impact and widespread utilization of generic drugs in the global pharmaceutical industry. The data highlights the substantial cost savings offered by generic drugs compared to branded products, driving their popularity and adoption. With a high conversion rate to generics after patent expiration and increasing FDA approvals, generic drugs are playing a crucial role in improving healthcare accessibility and affordability. The dominance of generic drugs in various markets, such as the U.S., India, and Canada, underscores their importance in healthcare systems worldwide.