IMARC Group, a leading market research company, has recently releases report titled “GCC Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the GCC generic drug market report, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the GCC Generic Drug Market?
Report Attributes Details
Market Size in 2022 US$ 5.2 Billion
Market Forecast in 2028 US$ 10.3 Billion
Growth rate (2023 to 2028) CAGR of 13.2%
Base Year of the Analysis 2022
Forecast Period 2023-2028

The GCC generic drug market size reached US$ 5.2 Billion in 2022. Looking forward, the market expects to reach US$ 10.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028, according to a new report by IMARC Group.
Generic drugs refer to the bioequivalent of branded medicines with equivalent therapeutic effects and the same active ingredients. They also have similar consequences, side effects, dosages, risks, strengths, intended use, and route of administration. Generic drugs can be administered dermally, orally, or via injectables and inhalers. These medications are less expensive than branded medicines, as the manufacturing does not demand extensive research. In addition to this, the production of generic drugs does not involve the recurrence of animal and clinical studies to measure their effectiveness and safety. As a result, these medications are widely available across hospitals and retail pharmacies.
Download free sample brochure: https://www.imarcgroup.com/gcc-generic-drug-market/requestsample
GCC Generic Drug Market Trends:
The increasing geriatric population and the escalating occurrence of chronic medical disorders across the region, such as diabetes, cancer, and cardiovascular diseases, are among the primary factors driving the GCC generic drugs market. Besides this, the hectic schedules of individuals, the changing dietary patterns, and the launch of several policies by the government bodies to reduce healthcare costs and promote the manufacturing and uptake of these medications are further augmenting the market growth.
Moreover, the leading players are extensively investing in research and development (R&D) activities to engineer patent, effective, and safe food and drug administration (FDA)-approved medicines, which is also catalyzing the market across GCC. Additionally, the growing popularity of public drug programs, such as the Ontario Drug Benefit (ODB) Program and Trillium Drug Program, as an initiative to provide universal healthcare in the region is also stimulating the market growth. Apart from this, the introduction of innovative technologies, such as nanoparticles, microchips, ultrasound-guided delivery, and microneedle patches, to enhance drug delivery methods is anticipated to propel the GCC generic drugs market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
The report cover the below key market segments:
Regional Insights:
• Saudi Arabia
• United Arab Emirates (UAE)
• Kuwait
• Qatar
• Bahrain
• Oman
Ask an analyst:- https://www.imarcgroup.com/request?type=report&id=821&flag=C
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
Raghav Arya
Marketing Manager
IMARC Group
134 N 4th St.
Brooklyn, NY 11249,
Website: https://www.imarcgroup.com/
Email: [email protected]
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800