For the initial developers and innovators of the drugs, patent protection results in high sales and profits. However, the initial creator faces issues as a result of generic rivals entering the market after the patent expires. The expiry of a drug's patent allows firms other than the original creator to produce lower-cost generic equivalents. Consumers benefit since it allows them to obtain vital drugs at a lesser cost, allowing them to save money.
Each year, the patents on a number of drugs expire, resulting in the loss of exclusivity. For drug manufacture, marketing, and production, different countries have distinct norms and regulations. However, various criteria, such as Orphan Drug Exclusivity, New Chemical Exclusivity (NCE), and Pediatric Exclusivity (PED), alter the patent duration.
The global generic drugs market has grown dramatically since 2011, with sales reaching new highs with each passing year. "Generics account for more than 80% of prescription drugs in the United States, and that percentage is continuously growing," according to the FDA (2015). It has been noticed that since the introduction of generics, sales of patented drugs have decreased by 90%. Some major drugs, including AstraZeneca's Faslodex, Amerigen Pharma's Bystolic (Nebivolol), Cipla's Emtricitabine (Emtricitabine), Alvogen's Hysingla ER (Hydrocodone er), Teva's Perforomist (Formoterol), Mylan's Sutent (Sunitinib), Lannett's Zomig ns (Zolmitriptan) have faced patents expiration. Similarly, several major drugs are expected to lose patents in 2022 in the EU and US healthcare markets, thereby increasing the availability of generic drugs in the market.
Some of the Drugs Losing Patent Protection or Exclusivity in 2022 include:
- Revlimid: Bristol Myers Squibb
- Lucentis:Roche
- Vimpat: UCB
- Alimta: Eli Lilly
- Velcade: Takeda
- Combigan: Allergan
- Januvia & Janumet: Merck
- Bevacizumab (Avastin): Roche
- Toviaz: Pfizer
When a drug's exclusive patent expires, several manufacturers, not only the original drug developer, may take advantage of the shortened approval procedure to offer their low-cost generic equivalents or biosimilars. After a drug's patent exclusivity expires, three to five firms often apply to produce generic copies or biosimilars of the original drug. These are often the less complicated counterparts of the more difficult-to-manufacture physician-administered drugs. Consequently, the price reduction leads to increased sales and a large portion of the generic drug market captured by the pharmaceutical companies.
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Global Dermatological Therapeutics Market 2018-2023The Global Dermatological Therapeutics Market report contains latest Business Data resulting from various research sources that helps Decision Makers to deliver a Distinctive and Trustworthy Analysis for Company’s Growth.The Dermatological Therapeutics Market is expected to register a CAGR of 4.0% during the forecast period, 2018 to 2023.
North America dominates the Dermatological Therapeutics Market, due to presence of strong key players I the region and growing healthcare expenditure.Ask for Sample PDF @ http://www.orbisresearch.com/contacts/request-sample/2131982 Rapid Increase in Elderly PopulationThe geriatric population is rising at a swift pace.
As people age, their risk of developing skin-related disorders increase.
With an aging world population and rising expectations about skin, hair, and nail appearance, the prevalence of some of the most common skin disorders continues to rise.
Also, the increase in incidence rates of dermatology diseases and increase in awareness levels of disease progression and etiology will drive the growth in the Dermatological Therapeutics Market.Serious Side Effects for Certain Classes of Therapeutic DrugsA side-effect is an unwanted symptom caused by medical treatment.
Dermatological therapeutics can cause some severe side effects as in case of corticosteroids the can cause water retention, weight gain, osteoporosis, hypertension, etc.
According to the new market research report “Freeze-Drying Equipment Market by Type (Tray, Shell, Manifold), Scale of operation (Industrial, Lab, Pilot), Application (Food, Pharma & Biotech), Accessories (Loading & Unloading, Monitoring, Vacuum Systems, Drying Chambers) – Global Forecast to 2025″ published by MarketsandMarkets™.Revenue Growth Opportunities and Growth Drivers?The Global freeze-drying market is projected to reach USD 7.3 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 8.2% from 2020 to 2025Growth Boosting Factors:Increasing demand for food preservationRising demand for lyophilized products in the pharmaceutical and biotechnology industriesRapid growth in contract manufacturing and lyophilization services across the worldTechnological advancements in lyophilization methodsGrowth Opportunities:Emerging marketsLoss of patent protection of several biologicsBrowse 134 market data Tables and 27 Figures spread through 171 Pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=24018886Market Segmentation in Detailed:Based on type, the lyophilization equipment market is classified into tray-style freeze dryers, manifold freeze dryers, and shell (rotary) freeze dryers.
In 2019, the tray-style freeze dryers segment accounted for the largest share of 72.1%.
This segment is also estimated to grow at the highest CAGR of 8.2% during the forecast period.
Growth in this market is largely driven by factors such as the increasing demand for contract manufacturing and contract lyophilization services in the pharmaceutical industry, the growing commercialization of labile drugs, and the rising demand for freeze-dried food products.
Tray-style freeze dryers are also larger than manifold and rotary freeze dryers, enabling them to dry products in bulk.Based on scale of operation, the freeze-drying market is segmented into industrial-scale lyophilization equipment, pilot-scale lyophilization equipment, and laboratory-scale lyophilization equipment.
In 2019, the industrial-scale lyophilization equipment segment accounted for the largest share of 68.2% of the market.
