Global Branded Generics Market Size, Trends & Growth Opportunity, By Product Type, By Drug Class, Route of Administration, Distribution Channel, Application, By Region and forecast till 2027.
Global Branded Generics Market
Global Branded Generics Market was valued at USD 229.06 billion in 2021 and is expected to expand at USD 430.7 billion at a CAGR of 5.2% from 2022-2027.
Medications or pharmaceutical products that have been re-released on the market under a different brand name are known as branded generics. Even if the drug is the same, these are re-released at a lower price, and the shape, size, colour, and flavour may change. This is because the patent on the drug or medication has come to an end. Drugs that can be used to treat a variety of illnesses, including arthritis, thyroid disease, back pain, and hypertension, are re-released at lower prices in an effort to remain on the market and compete. It is crucial to stress that the drug's quality has not changed despite the changes made in its re-release. Nothing compromises the medicine's ability to perform its intended activities.
Market Drivers
Some of the main factors driving market growth include the increased incidence of chronic diseases, rising branded generic drug penetration, rising government actions to promote generic medicines, and the patent expiration of important drugs. Another significant driver of market expansion is the high frequency of ANDA approvals and the introduction of generic medicines. Other factors driving the market's expansion include the entry of new companies, straightforward marketing authorization procedures, changing medical practices, and higher profit margins.
The expansion of the branded generics market will benefit from the increase in research and development activities. The growth rate of the market will be accelerated in the upcoming years by the expansion and modernisation of healthcare infrastructure across emerging economies. The growth rate of the branded generics market will also increase in the future due to technological improvement and the emergence of new markets.
Market Restraints
On the other hand, the introduction of new market participants and evolving medical practices would hinder market expansion. The market for branded generics will also face significant challenges from rigorous regulatory guidelines and tough competition from branded medications. However, during the projection period of 2022–2029, the appearance of unfavorable conditions brought on by the COVID-19 outbreak and a lack of awareness would serve as a restraint and further hinder the growth rate of the market. The improper use of risk evaluation and mitigation techniques (REMS) to branded generics market entry is a significant factor that is anticipated to restrain market expansion over the forecast period.
Impact of COVID-19
Taking into account the fact that COVID-19 will have detrimental effects on people's health, a significant percentage of patients have benefited from its impact. Pharmaceuticals and APIs are in greater demand as a result of COVID-19; those used to treat malaria are the most popular, followed by bronchodilators, antibiotics, and antivirals. Sedatives, analgesics, anaesthetics, and muscle relaxants—drugs that are needed to treat patients who are on ventilators—are going through a second wave of shortage. Due to the ongoing shortage, demand for generic drugs has increased, hastened FDA approval, and led to the removal of the present import warnings.
Market Segmentation
The Global Branded Generics Market is segmented into Product Type, Drug Class, Route of Administration, Distribution Channel, Application. By Product Type such as Value-Added Branded Generics, Trade Named Generics. By Drug Class such as Alkylating Agents, Antimetabolites, Hormones, Anti-Hypertensive, Lipid Lowering Drugs, Anti-Depressants, Anti-Psychotics, Anti-Epileptic, Others. By Route of Administration such as Oral, Parenteral, Topical, Others. By Distribution Channel such as Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Drug Stores. By Application such as Oncology, Cardiovascular Diseases, Diabetes, Neurology, Gastrointestinal Diseases, Dermatology Diseases, Analgesics and Anti-inflammatory, Others.
Regional Analysis
The Global Branded Generics Market is segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America had a 19.83 percent revenue share in the global market in 2021 and is anticipated to grow at a constant CAGR throughout the projected period. One of the main drivers of growth is the somewhat high penetration of branded generic medications. Another is the rising disease burden and geriatric population in the area. During the projection years, the Asia Pacific market is anticipated to grow at the highest CAGR of 6.4 percent. Products' rising market share in nations like Japan and India is anticipated to be a key development driver. In order to combat the lack of life-saving medications, governments in this region are also concentrating on the growth of their industrial hubs, thereby meeting unmet demands. There is a stronger demand for branded generic drugs in nations like India where doctors typically prescribe medications under brand names rather than INN.
Key Players
Various Key Players are listed in this report such as Teva Pharmaceutical Industries Ltd., Lupin, Sanofi, Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Endo International plc, GlaxoSmithKline plc, Pfizer, Inc., Apotex, Inc., Viatris, Inc.
Market Taxonomy
By Product Type
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