Branded Generics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Drug Class (Alkylating Agents, Antimetabolites, Hormones, Anti – Hypertensive, Lipid Lowering Drugs, Antidepressants, Antipsychotics, Antiepileptics, Others), By Application (Oncology, Cardiovascular Diseases, Neurological Diseases, Acute & Chronic Pain, Gastrointestinal Diseases, Derm
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBranded Generics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Drug Class (Alkylating Agents, Antimetabolites, Hormones, Anti – Hypertensive, Lipid Lowering Drugs, Antidepressants, Antipsychotics, Antiepileptics, Others), By Application (Oncology, Cardiovascular Diseases, Neurological Diseases, Acute & Chronic Pain, Gastrointestinal Diseases, Derm
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 230.02 Billion |
| CAGR (2023-2028) | 6.25% |
| Fastest Growing Segment | Online Pharmacies |
| Largest Market | North America |
Market Overview
Global Branded Generics Market has valued at USD 230.02 Billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 6.25% through 2028
Key Market Drivers
Rising Patent Expirations
When the patent of a branded drug expires, generic drug manufacturers can legally enter the market and produce their own versions of the drug. This leads to increased competition, which often results in lower prices for consumers. As a result, more patients may switch to these affordable alternatives, driving the growth of the branded generics market.
Growing Acceptance by Physician and Patient
Physicians' willingness to prescribe branded generics can directly impact their market growth. If physicians are confident in the quality and effectiveness of branded generics, they are more likely to prescribe them to their patients.
Rising Incidence of Chronic Diseases
As the incidence of chronic diseases continues to rise globally, there is an increased demand for medications to manage these conditions. Branded generics offer cost-effective alternatives to branded drugs, making them more accessible to a larger population of patients who need continuous treatment.
Key Market Challenges
Regulatory Hurdles
Generic medications, including branded generics, need to go through regulatory approval processes to ensure their safety, quality, and efficacy. Delays or complexities in the approval process can slow down the introduction of new branded generic products to the market.
Changing Healthcare Policies
Governments often implement pricing regulations to control healthcare costs and ensure affordability for patients. While these regulations can lead to lower prices for medications, they can also impact the profitability of generic manufacturers, including those producing branded generics. If pricing regulations result in extremely low profit margins, manufacturers might be discouraged from producing or promoting branded generics.
Key Market Trends
Advancements in Digital Health Integration
Digital health technologies can improve patient engagement by providing tools for medication reminders, tracking, and adherence. Branded generics, as more affordable alternatives, can benefit from increased patient engagement, leading to improved treatment outcomes and patient loyalty.
Development Biosimilars in the Branded Generics Landscape
Biosimilars compete with both the original biologic drugs and branded generics in some cases. This competition can drive down prices, making treatment more affordable for patients. The presence of biosimilars can put pressure on the pricing of branded generics, leading to increased adoption due to cost savings.
Segmental Insights
Drug Class
Based on the Drug Class, the Anti – Hypertensive segment is anticipated to witness substantial market growth throughout the forecast period. This growth can be attributed to multiple factors, such as Hypertension is a global health concern, affecting millions of people worldwide. As the prevalence of hypertension continues to rise due to factors like sedentary lifestyles and unhealthy diets, there is a growing need for accessible and cost-effective treatment options. Branded generics provide a solution by offering affordable alternatives to branded anti-hypertensive drugs.
Distribution Channel Insights
Based on the Distribution channel segment, the Retail Pharmacy segment has been the dominant force in the market. Retail pharmacies are essential for distributing medications, including branded generics, to patients. The presence of branded generics on pharmacy shelves makes them readily found at and accessible to patients seeking affordable treatment options.
Download Free Sample Report
Regional Insights
North America, specifically the Branded Generics Market, dominated the market in 2022, primarily due to North America has seen a significant number of patent expirations for blockbuster drugs, creating opportunities for generic manufacturers to introduce branded generic versions. As a result, the region has experienced substantial growth in the branded generics market as companies capitalize on these opportunities.
Recent Developments
- In March 2023, United Nations-backedMedicines Patent Pool (MPP) has granted Viatris, Inc., Aurobindo Pharma, andCipla Inc. sublicenses to make low-cost branded generic versions of Apretude, aHIV drug manufactured by GSK plc. ViiV, a company established by a jointventure of GSK plc. and Pfizer Inc., will help the companies with thedevelopment, production, and supply of the branded generic versions.
- In May 2021, Teva Pharmaceutical Industries Ltd. announced the releaseof the first generic version of THIOLA® (tiopronin) tablets in the UnitedStates. These tablets are intended to be used in conjunction with high fluidintake, alkali, and diet modification to prevent the formation of cystine(kidney) stones in adults and pediatric patients with severe homozygouscystinuria who are older than nine years old and who are not responsive tothese treatments alone.
Key Market Players
- Teva Pharmaceutical Industries Ltd.
- Lupin Pharmaceuticals Inc.
- Sanofi-Aventis.
- Sun Pharmaceutical Industries Inc.
- Dr Reddy's Laboratories Inc.
- Endo International PLC.
- GlaxoSmithKline LLC.
- Pfizer Inc.
- Viatris Inc.
- ApotexInc.
| By Drug Class | By Application | By Distribution Channel | By Region |
| Alkylating Agents Antimetabolites, Hormones Anti – Hypertensive Lipid Lowering Drugs Antidepressant Antipsychotics Antiepileptics Others | Oncology Cardiovascular Diseases Neurological Diseases Acute & Chronic Pain Gastrointestinal Diseases Dermatological Diseases Others | Hospital Pharmacy Retail Pharmacy Online Pharmacy | North America Europe Asia Pacific South America Middle East & Africa |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy