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The global generics market has experienced dynamic growth in recent years, registering a compound annual growth rate (CAGR) of 11.1% between 2012 and 2016 to reach a value of $318 billion, according to data from research company MarketLine. The company’s latest report states that Asia-Pacific was comfortably the largest region in value terms, accounting for over 46% of the global total in 2016. The US followed with over 31%, while Europe continued to lag behind, contributing 15.6%.
The US once reigned supreme as the single biggest country market, with a value of $99.7 billion. MarketLine predicts the US market will grow with a CAGR of 7.2% between 2016 and 2021, to reach a value of $141.2 billion. Europe is expected to see slower growth, with the company projecting a CAGR of 5.6% for the 2016-2021 period, driving the market to a value of $65.1 billion in 2021.