US generic drug market booming, as government seeks to minimize heath care spending

On the back of rapidly growing consumer spending on branded products, the US healthcare spending is projected to reach nearly $4,600 billion by 2019 at an average annual rate of 6.3%, says a new report added to the offering of Research and Markets. The government is now emphasizing the need to minimize health care spending by using generics drugs and promoting other low cost health care. This has created huge opportunities in the country’s generics industry.