According to IMARC Group’s latest report, titled “West Africa Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the West Africa generic drug market is currently witnessing moderate growth in 2020. A generic drug refers to a pharmaceutical medicine with the same active pharmaceutical ingredients (APIs) as a branded drug and with similar quality, dosage, strength, performance, efficiency, etc. It is developed for sale after the patent on the original drug expires. Therefore, these drugs tend to be more affordable than their branded counterparts as the manufacturers do not need to invest in marketing or to test their strength and efficiency. Generic drugs are usually available in oral, injectables, dermal, and inhalable variants. They are proven to be as effective and safe as branded drugs. As a result, generic drugs are extensively utilized across hospitals and pharmacies in West Africa.
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The increasing prevalence of various infectious diseases, such as tuberculosis (TB), malaria, acquired immune deficiency syndrome (AIDS), etc., is one of the key factors driving the West Africa generic drug market. In line with this, numerous government bodies are launching favorable initiatives to invest in the healthcare sector and promote public health to reduce the number of deaths caused by the lack of essential drugs, which is further stimulating the market growth. Moreover, the elevating popularity of biopharmaceuticals, such as monoclonal antibodies, blood components, allergenics, gene therapies, somatic cells, recombinant therapeutic protein, living medicines, etc., is acting as another significant growth- inducing factor. Besides this, the launch of re-innovated generics with reduced inter- and intra-patient variability and hypersensitivity is anticipated to fuel the West Africa generic drug market over the forecasted period. Looking forward, IMARC Group the West Africa generic drug market is expected to continue its moderate during the forecast period (2021-2026).
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Segment:
- Unbranded Generics
- Branded Generics
Breakup by Therapy Area:
- Central Nervous System
Breakup by Drug Delivery:
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
Breakup by Country:
- Cote d’Ivoire
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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