The Global Branded Generics Market is poised for substantial growth, with an estimated valuation of USD 327.8 million in 2023. Expected to grow at an 8.6% Compound Annual Growth Rate (CAGR) through the forecast period, the market is projected to reach USD 747.2 million by 2033.
Branded generics, which offer affordable and accessible medication alternatives while maintaining brand recognition and quality, have gained considerable traction worldwide. This market growth is driven by an increasing demand for cost-effective drug options, particularly in emerging markets, as well as healthcare systems’ focus on reducing drug expenditures.
Key Insights:
- Market Valuation: Estimated at US$ 327.8 million in 2023, anticipated to reach US$ 747.2 million by 2033.
- CAGR: Expected to expand at a CAGR of 8.6% over the forecast period (2023-2033).
- Growth Drivers: Rising healthcare needs in emerging economies, demand for cost-effective medications, and growing preference for trusted branded generics.
As branded generics continue to bridge the gap between high-quality branded drugs and affordable generics, this market is positioned for sustained growth, contributing to improved access to essential medications across diverse healthcare markets globally.
Some principal growth drivers are the rising frequency of chronic diseases, increased penetration of branded generic pharmaceuticals, increased government activities to promote generic products, and the expiration of significant drug patents.
The expiration of innovator medicine patent exclusivity creates chances for generic manufacturers to introduce goods at a lower cost. The low cost of generic medications promotes patient affordability and contributes to lower per capita healthcare spending.
- As Bristol-Myers Squibb Company’s proprietary Sprycel (Dasatinib) patent exclusivity period expired in 2020, generic businesses such as Apotex and Dr. Reddy’s Laboratories have filed ANDA to launch generic versions of the medicine.
Competitive Landscape
The absence of patent restrictions allows pharmaceutical companies to freely sell branded generics, leading to a significant influx of vendors in the global market. The competition within the branded generics business has remained predominantly positive, fostering growth and promoting collaboration among various pharmaceutical manufacturers. The leading branded generics manufacturers are expected to focus on expanding their product offerings by making substantial investments.
A Full Report Overview
Key Branded Generics Manufacturers
- Teva Pharmaceuticals Industries Ltd.
- Abbott Laboratories
- Novartis
- Mylan
- Pfizer
Key Segments
By Therapeutic Application:
- Oncology
- Cardiovascular Diseases
- Diabetes
- Neurology
- Gastrointestinal Diseases
- Dermatology Diseases
- Analgesics and Anti-inflammatory
- Others
By Drug Class:
- Alkylating Agents
- Antimetabolites
- Hormones
- Anti-Hypertensive
- Lipid Lowering Drugs
- Anti-Depressants
- Anti-Psychotics
- Anti-Epileptics
- Others
By Formulation Type:
- Oral
- Parenteral
- Topical
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- The Middle East and Africa
- Japan
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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