The Affordable Prescription: How Generic Medicines Are Saving Lives

The world healthcare industry is seeing a tremendous thrust towards increased use of generic drugs to increase the affordability of healthcare. India's Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has played a vital role in supplying high-quality generic medicines at cheaper rates, and it has benefited citizens to the tune of over ₹18,000 crores. The market for generic medicines worldwide is anticipated to grow to USD 775.61 billion by 2033 due to patent expirations and an increase in the demand for cheaper treatments. The generic injectables market is also likely to expand significantly, with an estimated value of USD 206.8 billion by 2030. Governments and healthcare facilities across the globe are encouraging generics as part of cost-reduction measures, facilitating greater access to critical drugs.
Source: Biospace, eHealth, GlobeNewswire