The government actively encourages the global generic drug market to have a promising future

Source: on June 24, 2016, due to the aging of the global population and the increasingly expensive price of new drugs, medical expenditure became increasingly heavy Many governments began to actively encourage the use of generic drugs, and the global generic drug market has a promising future Although the U.S pushes patent links internationally through TPP and bilateral free trade agreements, and is limited by factors such as quality regulation risks, the global generic drug market still shows a steady growth trend Trendforce Jibang technology estimates that in 2016, the global generic drug market will reach about $314.9 billion, and in 2019, it will reach about $409.9 billion, with a compound growth rate of about 8.7% from 2015 to 2019 The great significance of the existence of generic drugs is to enable the public to obtain drug treatment at an affordable price Liu Yining, a biotech analyst at trendforce, pointed out that many countries have offered encouraging policies to expand the popularity of generic drugs in order to reduce medical expenditure because of the heavy financial burden caused by rising medical expenditure For example, Japan's Ministry of health and welfare aims to achieve 80% market share of generic drugs by 2020, and actively approves the listing of generic drugs France implements the cost control plan of medical expenditure, and plans to achieve the target of 25% of total expenditure of generic drugs in 2017 by reducing drug prices and increasing the use of generic drugs The major pharmaceutical companies have been sharpening their swords to see the potential business opportunities in the generic pharmaceutical market Because the United States is the largest drug market, even if the growth is slow, it has always been a place of war Japan has attracted much attention for promoting the policy of generic drugs, and GSK and Sanofi, the big traditional patent pharmaceutical companies, have actively stepped in In emerging markets, Mexico, the kingdom of Saudi Arabia, India and China have the most potential for development