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The appetite for generic drugs throughout the European Community is expected to double in the next 7 years, jumping from $17.18 billion in 2006 to nearly $36 billion by 2013, according to a new market analysis by Frost & Sullivan. As in the United States, rising health costs in Europe are causing government leaders to explore methods for promoting increased use of more cost-effective generic medicines, the study noted.
?Patent expiries, pro-generic reforms in certain countries, and need for cheap, effective medicines are the key factors driving growth in the European generics market,? a researcher for the company explained. ?Various studies have indicated the cost savings obtained from generics, and several governments in Europe are actively promoting generics.?