In 2023, the branded generics market is projected to be valued at US$ 327.8 million. Over the forecast period, the market is expected to grow at a compound annual growth rate (CAGR) of 8.6%, reaching a total value of US$ 747.2 million by 2033. Branded generics are essentially off-patent drugs offered by patented drug manufacturers or generic drug companies with established brand recognition for their generic equivalents. The pharmaceutical sector is defined by various internal and external licensing, production, and marketing features. Patent protection plays a critical role in this industry.
Several key factors drive the growth of the branded generics market. These include the escalating incidence of chronic illnesses, deeper penetration of branded generic pharmaceuticals, increased government initiatives to encourage generic products, and the expiry of prominent drug patents. Notably, when exclusive patent rights for innovative medicines lapse, opportunities arise for generic producers to launch comparable products at more competitive prices. This benefits patients through improved affordability, ultimately reducing overall healthcare costs per person.
Request a Sample of this Report
https://www.futuremarketinsights.com/reports/sample/rep-gb-1260
Since branded generics are free from patenting, companies are investing handsome amounts on this drug category. The market is set to reach a valuation of around 283.2 Bn in 2021, with top players in tier-1 accounting for 20%-25% market share.
The entry of new players, simple market authorization procedures, greater profit margin and off-invoice discounts will expand branded generics market during the forecast period.
As per the FMI’s analysis, despite the slight setback due to the pandemic, the global branded generics market registered year-on-year (Y-o-Y) growth at 4.9% CAGR during 2020-2021.
“Rising demand for branded generics across both developing and developed economies along with high penetration of pharmaceutical industry will offer lucrative growth opportunities for the branded generics manufacturers during the forecast period” says the FMI analyst.
Key Takeaways from FMI’s Branded Generics Market Study
- China and India are spearheading the growth of Asia Pacific market spurred by the increasing adoption of branded generics by large-scale pharmacy chains in the emerging economies
- The U.S. will lead the North America’s branded generics market, registering a growth at 3.83% CAGR during the forecast period.
- The market in India is expected to offer lucrative growth opportunities to branded generics manufacturers backed the expansion of pharmaceutical industry
- In terms of therapeutic application, cardiovascular diseases and diabetes are expected to account for considerable market share
- Oral solid dose pharmaceutical formulation continues to be highly preferred among patients. The oral segment accounts for over 55% share of the global branded generics market.
Methodology Details Just a Click Away!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-1260
Competitive Landscape
Teva, Abbott Laboratories, Novartis, Mylan, Pfizer are some prominent players operating in the branded generics market cumulatively hold around 20-25% market share.
Key players operating in branded generic market are focusing on expanding their business in emerging markets. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.
- In October 2020, Glenmark Pharmaceuticals, introduces NINDANIB (Nintedanib) for the treatment of pulmonary fibrosis in India. Glenmark has been amongst the first to launch the branded generic version at an affordable cost for the treatment of pulmonary fibrosis in India.
Branded Generics Market by Category Therapeutic Application:
- Oncology
- Cardiovascular Diseases
- Diabetes
- Neurology
- Gastrointestinal Diseases
- Dermatology Diseases
- Analgesics and Anti-inflammatory
- Others
Drug Class:
- Alkylating Agents
- Antimetabolites
- Hormones
- Anti-Hypertensive
- Lipid Lowering Drugs
- Anti-Depressants
- Anti-Psychotics
- Anti-Epileptics
- Others
Gain the Edge with Segmented Information – Buy Now!
https://www.futuremarketinsights.com/checkout/1260
Formulation Type:
- Oral
- Parenteral
- Topical
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube