India has the third-highest number of hematological cancers in the world, after the US and China
according to Globocan 2012. Unfortunately, blood cancer affects a large number of people. Blood
cancer occurs when something goes wrong in the development of blood cells. Blood cancers affect
the production of blood cells and their many functions, such as fighting off infections or preventing
serious bleeding. Blood cancers are categorized into three groups.
As we all know cancer drugs are too expensive and it can burn a big hole in the pocket of patients.
Even the simplest radiotherapy unit costs several crores of rupees and in addition, annual
maintenance costs are high. Generic drugs could be a great relief for the patients as they typically
cost 30% and 60% less than the branded drugs. The generic drugs market is a huge and complex part of
the healthcare market. Most of the time generic medicines are cost-effective and time-saving.
Glarea healthcare is contributing its part in society by bringing expensive medicines within reach and
helping patients to manage the disease better by providing cost-effective and affordable drugs to them.
Some of the best generic drugs which are available in the market for acute myeloid Leukaemia are:
Generic drugs are cheaper and offer similar health benefits as those of branded counterparts.
Generics are showing high penetration in the pharma market across the globe due to rising
healthcare expenditure and the aging population. In India Generic drug market is expected to grow
in coming years it accounts for 20% of global export in terms of volume, making the country the
largest provider of generic medicines globally.
According to the “Indian Generic Drug Market Outlook 2020” report, the current scenario of the generics
drug industry shows the increasing demand for generic drugs in the future. The report covers
a detailed description of the market size of generic drugs and its future forecast until 2020. It also
predicts that owing to the implementation of government schemes, like Jan Aushadhi, Free essential
drug, and Sehat, the unbranded generic drug market is likely to show promising growth in the near
Generic drugs are used in two ways: Generic substitution and therapeutic interchange. Generic
substitution means the drug is equivalent to a brand name in terms of efficacy and quality while
therapeutic interchange is used for name brands that do not have a generic substitution. Cancer
treatments have now improved outcomes but access to medications is an issue around the world
especially in low- and middle-income countries, such as India. Generic substitution may lead to
significant cost savings. Medicine spending in India is projected to grow 9-12 percent over the next
five years, leading India to become one of the top 10 countries in terms of medical spending. The
Indian government has taken many steps to reduce the treatment cost and lower down the
healthcare expenses. The speedy introduction of generic drugs into the market is expected to benefit the
Indian pharmaceutical companies.