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The global generic drugs market size is estimated to grow by USD 212.58 billion, at a CAGR of 7.86% between 2023 and 2028.
Pharmaceutical companies are increasingly turning to outsourcing as a strategic approach to optimize efficiency and control costs. By outsourcing, these companies can reduce financial risk by minimizing capital investments in laboratory equipment and land, converting fixed costs to variable costs, and leveraging the expertise of Contract Research Organizations (CROs). Pfizer, for example, has entered agreements with Aurobindo Pharma and Claris Life Sciences for contract manufacturing and generic drug outsourcing, respectively. This trend is expected to continue as more pharmaceutical companies seek to save time, mitigate risk, and cut costs in drug discovery and development processes. However, the lack of sufficient CROs can lead to weaker preclinical and early clinical capabilities, posing validation challenges and increasing the risk of compound failure. Therefore, outsourcing drug discovery and development activities remain vital for risk aversion and efficiency, driving market growth in the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Route of Administration
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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