Succeeding in a predominantly generic market.
Sales of generics are expanding rapidly - double-digit growth rates in the top eight markets have seen the sector outperform total market growth for the last four years. Some large therapy areas are now becoming predominantly generics classes. Others are heading that way. In volume (standard unit) terms in the major markets, generics already represent the largest segment of the pharmaceutical market. And their dominance is set to increase.
For the industry, within most therapy classes, the challenges of differentiation and convincing pharmacists, physicians and patients to choose the brand loom large. Interest in the generics sector is rising as companies start to re-evaluate their portfolio mix. All companies - whether playing offense or defense - are considering new approaches to ensure success in a predominantly generic marketplace.
Their success will be contingent on a clear understanding of the market, based on consistent, benchmarked measures, and clarity on the underlying trends that are driving the different sectors.
