Generic Drugs and its Future
Generic medications are less expensive versions of branded drugs that enter the market when the original drug manufacturer's patent expires. These medications have the same potency, quality, and implications as the branded drug and act in the same way. The rising prevalence of chronic conditions such as diabetes, cardiovascular disease, hyperthyroidism, hypothyroidism, and others, as well as sedentary lifestyles, drive the expansion of the generic pharmaceuticals market. Furthermore, the growing elderly population contributes to market growth because comorbidities are more prevalent in the elderly population, necessitating effective treatments with the simplest route for drug administration.