Prescription for success: As both private and public investment grows, industry demand will increase

Over the five years to 2018, the Generic Pharmaceutical Manufacturing industry in Ohio is projected to grow at an annualized rate of 2.1% to $1.1 billion, including an expected growth of 2.2% in 2018. Increasing access to health insurance, rising total health expenditure and efforts to control prescription medication costs benefited generic pharmaceutical manufacturers in the state. As an increasing number of regional, national and global pharmaceutical companies operate facilities in the state, industry operators are poised to benefit. Furthermore, rising investment in the state’s bioscience sector and increased funding from nationally accredited institutions including the National Institutes for Health (NIH) has benefited pharmaceutical manufacturers already present in the state...purchase to read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 13-18
2.1%
Forecast Growth 18-23
Profit
Employment
1,194
Businesses
27

Industry Threats & Opportunities

  • As private and public investment continues to grow in the state, generic pharmaceutical operators are poised to benefit
  • Industry Report - Industry Locations Chapter

    Industry establishments for both the Brand Name Pharmaceutical Manufacturing industry in Ohio (IBISWorld Report OH32541a) and the Generic Pharmaceutical Manufacturing industry in Ohio are primarily located in the Northeast region of the state, which accounts for 41.9% of total industry establishments in the state. The Northeast region is home to major cities Cleveland and Akron. According to BioOhio, the state's leading bioscience association representing pharmaceutical companies, the highest number of bioscience-related start-ups are located in the Northeast region. The region is also home to Case Western Reserve University, a source of private funding for industry research and development. Following the Northeast region in terms of industry establishments is the Southwest region (32.6%),...purchase to read more.

    Additional Insights for the Generic Pharmaceutical Manufacturing in Ohio Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Generic Pharmaceutical Manufacturing in Ohio Industry are

  • Control of distribution arrangements
  • Degree of globalization
  • Undertaking generic pharmaceutical and medicine research and development
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Manufacturing GDP for Ohio in the Generic Pharmaceutical Manufacturing in Ohio industry impact industry performance..

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    What's in this report

    What is the Generic Pharmaceutical Manufacturing in Ohio Industry?

    Generic pharmaceutical and medicine manufacturers develop prescription and over-the-counter drug products that are used to prevent or treat illnesses in humans or animals. Generic drugs are produced and distributed without patent protection, and industry operators are not significantly engaged in the research and development of new drugs. The industry does not include manufacturers of nutritional supplements or cosmetic beauty products.

    Industry Products
  • Mental health and nervous system prescriptions
  • Antihypertensives and lipid regulator prescriptions
  • Pain and antibacterial prescriptions
  • Antidiabetes prescriptions
  • Respiratory prescriptions
  • Dermatology prescriptions
  • Other prescriptions
  • Industry Activities
  • Developing and producing generic drugs
  • Marketing and distributing generic drugs
  • Gaining regulatory approval for generic drugs
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Manufacturing GDP for Ohio
  • Number of adults aged 65 and older in Ohio
  • Regulation for the Generic Pharmaceutical Manufacturing industry

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Generic Pharmaceutical Manufacturing in Ohio Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Drug, Cosmetic & Toiletry Wholesaling
  • Supermarkets & Grocery Stores
  • Pharmacies & Drug Stores
  • Hospitals

  • Key Selling Industries
  • Biotechnology
  • Chemical Product Manufacturing
  • Medical Device Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Navigational Instrument Manufacturing
  • Soap & Cleaning Compound Manufacturing

  • Products & Services
  • Other prescriptions
  • Antihypertensives and lipid regulator prescriptions
  • Mental health and nervous system prescriptions
  • Pain and antibacterial prescriptions
  • Antidiabetes prescriptions
  • Respiratory prescriptions
  • Dermatology prescriptions
  • Chart: Generic Pharmaceutical Manufacturing in Ohio Industry Products and Services Segmentation

  • Major Markets
  • Chain stores
  • Nonretail channels
  • Mail service
  • Independent stores
  • Food stores
  • Chart: Major Market Segmentation for the Generic Pharmaceutical Manufacturing in Ohio Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Generic Pharmaceutical Manufacturing in Ohio

  • Basis of Competition
    Barriers to Entry
    Teva Pharmaceutical Industries Ltd., Adare Pharmaceuticals Inc., Nostrum Laboratories Inc., West-Ward Pharmaceuticals,
  • Table: Teva Pharmaceutical Industries Ltd. - financial performance
  • Table: Adare Pharmaceuticals Inc. - financial performance
  • Table: Nostrum Laboratories Inc. - financial performance
  • Table: West-Ward Pharmaceuticals - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Generic Pharmaceutical Manufacturing in Ohio Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Generic Pharmaceutical Manufacturing in Ohio Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total health expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Biopharmaceuticals
  • A large protein molecule derived from living sources, as opposed to a chemical substance. Examples include insulin, human growth hormones and antibiotics.
  • Biosimilar
  • Versions of innovator biopharmaceutical products that follow patent and exclusivity expirations on innovator products.
  • New Drug Application (Nda)
  • An application filed for the approval of a new drug product. Once approved, the product may be marketed in the United States.
  • Patent Cliff
  • A phenomenon wherein revenue for brand name pharmaceuticals drop as the patents for high-profile drugs expire.
  • What Our Customers Say

    Why buy this report?

    The Generic Pharmaceutical Manufacturing in Ohio industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Generic Pharmaceutical Manufacturing in Ohio:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Generic Pharmaceutical Manufacturing in Ohio market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Generic Pharmaceutical Manufacturing in Ohio, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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