In this study, the current generic market situation in India is analysed along with its effect on brand drug market. Awareness, knowledge and perception among consumers and factors that influence their preference for generic medicines is evaluated. The study was conducted on 145 participants who belonged to Northwestern region of India. Quantitative method (survey) was used with a questionnaire designed to capture factors like age, education, area of residency, awareness, knowledge and perception. An open-ended question was added to get a deeper understanding on participants perception and concerns regarding generic medicines. Online analysis was done to check generic market situation in India and its effect on brand drug market.
Generic drug market is flourishing in India, the country is a top exporter worldwide and supplies generics to countries like United States of America (USA). Brand companies have been facing generic market competition and have to use various strategies like patent extension, pay to delay to lower the impact of the competition. The study findings showed that participants had good level of awareness, knowledge and mostly positive perception for generic drugs. Negative perception was mostly related to previous bad experiences with generic medicines. Awareness, knowledge and perception were found to be impacting consumer’s preference/ willingness to switch brand drugs with generic drugs. These three factors were associated with age, level of education, location where they lived, physician’s influence and it was observed that demographics did not create much difference because an elderly participant showed awareness and knowledge while a participant who was highly educated or from big city had poor perception.
Although the awareness, knowledge and perception were good among people, there is still a hesitancy in people to choose generics. Low costs, poor quality, lack of efficacy and misconceptions are some of the reasons people consider generic medicines to be inferior. Acceptance can only be increased through education, data transparency, larger promotional levels and prescription/ recommendations by the health care professionals. Greater acceptance will lead to significant reductions in expenditures and thus ensure drug adherence and improved health in the population.