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“US Cancer Generics Market Outlook 2022” report gives comprehensive insight on the various indicators and trend analysis related to the emergence and integration of cancer generics drugs in mainstream pharmaceutical market in US. The report analyzes various clinical and non-clinical parameters responsible for the growth on cancer generics drugs in recent years. The introduction of generics has resulted in saving of billions of dollars for various stake holders involved US cancer drug market. It is expected that total savings from generics in cancer therapy (in treatment and post treatment) will surpass US$ 30 Billion by 2022 and will further give the required thrust to adoption of generics drugs in cancer therapy as compare to prescribed branded drugs.
Even though most of the attention and spending in the oncology segment in the US has been focused on the remarkable scientific inventions of the newer targeted drugs but the overburdening of the economic high cost of cancer drugs has made US to follow up the line of generics. Certainly, after the existence of Hatch-Waxman Act, the entries of generic products were acceptable between the Americans.
The beneficial aspects of generic regimens are already well established, as the delivery of equal therapeutic efficacy in low price is the principal aim of cancer generics. The cost for patented oncological drugs and the generic drugs have wide gap which is getting shorter with the emerging patent cliff for cancer drugs in US and the arrival of the cancer generics era.
Concerning the cost, indeed cancer generics provide an exceptional solution towards high cost, yet the scenario is different for the Americans. However, in US cancer generics cost much higher in contrary to the other nations, reason being is the no negotiation mode of government in the pharmaceutical sector. The prices paid for generics in US are many fold higher than developing countries like India and China.
Certainly, among the developed nations the usage and prescription of generics is quite higher depicting the greater medical needs due to overburden of massive diseases and cancer is one of them. The demand for cancer generics is so high that the trend has created a shortage landscape. It is a part of the problem of the scarcity of generics across all medical specialties, but its oncology is particularly vulnerable. The reason of the shortages is multi-factorial but is largely economic and is due to the lack of incentives to produce generics.
“US Cancer Generics Market Outlook 2022” report highlights:
Introduction to Cancer Generics
US Generic Drugs Legislature
US Health Insurance Scenario and Cancer
Aspects of Branded and Non-Branded Generics
US Cancer Generics Market Overview