In 2023, the branded generics market is estimated to be worth USD 327.8 million. The branded generics business is expected to reach USD 747.2 million by 2033, capturing a CAGR of 8.6% during the forecast period.
Branded generics are the most recent versions of off-patent pharmaceuticals supplied by patented drug makers or generic drug businesses with strong brand awareness for their generic drug equivalents.
Several internal and external licensing, production, and marketing characteristics characterize the pharmaceutical industry. The concept of patenting is vital to the pharmaceutical industry.
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.
| Attributes | Details |
|---|---|
| Branded Generics Market CAGR (2023 to 2033) | 8.6% |
| Branded Generics Market Size - 2023 | USD 327.8 million |
| Branded Generics Market Size - 2033 | USD 747.2 million |
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The branded generics market is expected to record an 8.6% CAGR between 2023 and 2033, compared to a 6.9% CAGR from 2018 to 2022.
Global interest in branded generics has grown with rising healthcare expenses and a growing need for high-quality generic pharmaceuticals. The branded generics industry is primarily driven by drug patent expiration.
Consumer preference is critical to accelerating the expansion of the branded generic business. People prefer the greatest items they can afford. Brands command a high level of confidence, constant quality, and the fulfillment of a promise.
A branded generic is a generic medication through the Abbreviated New Drug Application (ANDA) process. The rising frequency of chronic diseases may boost demand for branded generics.
The changing lifestyle has increased the prevalence of cardiovascular diseases and other conditions such as diabetes and hypertension. As a result, sales of anti-hypersensitive branded generics have gradually increased.
| Attributes | Details |
|---|---|
| Market HCAGR (2018 to 2022) | 6.9% |
| Market Size - 2017 | USD 217.6 billion |
| Market Size - 2022 | USD 304.2 billion |
Rising demand for low-cost healthcare solutions in established and emerging economies accelerates market expansion. These drugs provide a good combination of cost-effectiveness and quality, making them appealing to patients and healthcare professionals.
The expiration of several blockbuster medicine patents has opened the door for generic producers to enter the market with their own branded copies. As a result, there is more competition and a more incredible selection of patient options.
The rising prevalence of chronic diseases and the requirement for long-term prescription use have aided in the growth of the branded generics industry. To address these therapeutic areas, pharmaceutical companies are working on producing branded generic medications.
A combination of affordability, patent expiration, and disease prevalence spurs market growth.
Principal Consultant
Despite its potential for expansion, the branded generics market is constrained by several factors. The stringent regulatory standards set by various health authorities, which might create hurdles to entry for new businesses, are one fundamental cause. Meeting these requirements can be time-consuming and expensive, stifling market growth.
Another impediment is the presence of well-known brand-name pharmaceutical firms. These corporations frequently have significant brand loyalty and marketing resources, so generic manufacturers need help competing for market share and brand recognition.
The possibility of counterfeit and substandard products is a severe market challenge. The lack of effective quality control methods and the availability of low-cost alternatives might damage patient and healthcare professional trust, limiting the market's growth potential.
The key restraints for the branded generics industry include the following:
With the increased emphasis on healthcare cost containment, branded generics have an opportunity to play a substantial role. These prescriptions are less expensive than brand-name drugs, making them appealing to healthcare systems, insurers, and consumers.
The development of healthcare infrastructure and the rise in healthcare expenditure in emerging economies create new markets for branded generics. As these countries work to enhance access to cheap drugs, branded generics can help fulfill demand while delivering superior treatment options.
Technological and manufacturing process developments provide chances for generic producers to improve their production capacity, improve product quality, and provide novel dosage forms or delivery systems.
Collaborations and collaborations between generic producers and healthcare providers can generate synergies and assist branded generics in building a strong market presence, thereby boosting their reach and market share.
The potential for branded generics is in cost containment, emerging markets, technical developments, and collaborations with healthcare providers.
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2023 value share in Global Market:
| Countries | Value |
|---|---|
| North America | 19.0% |
| Europe | 25.0% |
The low price and strong popularity of branded generic pharmaceuticals drive the Chinese pharmaceutical sector. China's drug evaluation and approval system has been streamlined, allowing more new local, innovative, and foreign drugs to enter the market.
The China market is very competitive, with the government overseeing medicine approval and development. Due to their cost-effective qualities, generic and branded generics are surging the industry in the country.
According to a work plan announced jointly by 12 government departments, including the National Health Commission, China may publish and update the list of generic pharmaceuticals at the end of each year.
2023 Value Share in Global Market:
| Countries | Value |
|---|---|
| United States | 16.8% |
| Germany | 2.9% |
| Japan | 4.4% |
India is a leading exporter of generic medications to countries such as the United States, Europe, and Africa. Brand generic medicine manufacturers can develop and market generic pharmaceuticals at a considerably lower cost without sacrificing product quality.
The pharmaceutical market in India is dominated by branded generics, resulting in generic-induced price competition. The rapid expansion of the market in India can also be ascribed to rising disposable income, increased demand for branded generics at affordable rates, and an increase in the prevalence of chronic diseases.
2023 Value CAGR in Global Market:
| Countries | Value |
|---|---|
| Australia | 7.5% |
| China | 10.4% |
| India | 11.9% |
| United Kingdom | 9.5% |
The production of branded generics has expanded significantly in the United States since they are less expensive than branded pharmaceuticals and do not necessitate intensive research and testing.
The rising prevalence of chronic conditions such as cardiovascular disease, diabetes, Alzheimer's disease, and Parkinson's disease in the country has provided the needed impetus to the branded generics business.
| Category | Distribution Channel |
|---|---|
| Leading Segment | Retail Pharmacies |
| Market Share | 43.7% |
| Category | Formulation Type |
|---|---|
| Leading Segment | Oral |
| Market Share | 54.0% |
| Category | Therapy Area |
|---|---|
| Leading Segment | Cardiovascular Diseases |
| Market Share | 17.95% |
| Category | Drug Class |
|---|---|
| Leading Segment | Anti-Hypertensive |
| Market Share | 27.53% |
Cardiovascular diseases (CVDs) and diabetes continue to be the most important therapeutic application areas, accounting for more than half of all branded generic sales in the global market.
This leads to the adoption of branded generics, such as anti-hypertensive medicines, and the branded generics market.
With a market share of 54%, the oral formulation sector dominates the branded generics industry. The convenience element connected with oral administration can be linked to the segment's rise.
Oral drugs are simple to deliver, and patient compliance is higher than other administration methods. Furthermore, sweeteners and colored coatings make tablets and capsules more appetizing.
FMI believes that the parental formulation may take center stage during the prediction period. By 2033, the parental category is predicted to lead the branded generics business.
Future Market Insights has classified the demand for branded generics by distribution channels such as hospital pharmacies, retail pharmacies, online pharmacies, and drug stores.
Manufacturers are forming relationships with online and retail pharmacies in response to the rise of e-commerce. An enormous COVID-19 epidemic normalized the purchase of branded generics from online pharmacies.
Patients find obtaining their medication directly from Internet pharmacies convenient and time-saving. As a result, online pharmacies are expected to grow in popularity through 2023 and beyond.
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.
Recent Innovations and Developments
| Company | Dr. Reddy's Laboratories Ltd. |
|---|---|
| Strategy | Product Launch |
| Details | Dr. Reddy's Laboratories Ltd. may introduce Invista in India in April 2020. This is the branded generic equivalent of Sprycel (dasatinib), used to treat adult CML patients. |
| Company | Teva Pharmaceuticals Industries Ltd. |
|---|---|
| Strategy | Product Launch |
| Details | Teva Pharmaceuticals Industries Ltd. and Hikma Pharmaceuticals PLC launched Tracleer generic in the United States in June 2019. |
| Company | Teva Pharmaceutical Industries Ltd. |
|---|---|
| Strategy | Product Launch |
| Details | Teva Pharmaceutical Industries Ltd. announced the launching of the first generic version of THIOLA (tiopronin) tablets in the United States in May 2021. These tablets are intended to be used in conjunction with high fluid intake, alkali, and diet modification to prevent the formation of cystine (kidney) stones in adults and pediatric patients with severe homozygous cystinuria who are older than nine years old and are not responsive to these treatments alone. |
| Company | Lupin |
|---|---|
| Strategy | Acquisition |
| Details | Lupin, a significant global pharmaceutical firm with a wholly-owned subsidiary in Australia, said in July 2021 that it had signed a legally binding agreement to acquire all of the outstanding shares of Southern Cross Pharma Pty Ltd (SCP) from SCP. |
North America is likely to lead the branded generics industry.
The branded generics market is estimated to surpass USD 747.2 million by 2033.
The branded generics industry is likely to record a value of USD 327.8 million in 2023.
The branded generics industry is likely to secure a CAGR of 8.6% through 2033.
The pharmaceutical industry is the key consumer of the branded generics market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Therapeutic Application 5.1. Oncology 5.2. Cardiovascular Diseases 5.3. Diabetes 5.4. Neurology 5.5. Gastrointestinal Diseases 5.6. Dermatology Diseases 5.7. Analgesics and Anti-inflammatory 5.8. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 6.1. Alkylating Agents 6.2. Antimetabolites 6.3. Hormones 6.4. Anti-Hypertensive 6.5. Lipid Lowering Drugs 6.6. Anti-Depressants 6.7. Anti-Psychotics 6.8. Anti-Epileptics 6.9. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Formulation Type 7.1. Oral 7.2. Parenteral 7.3. Topical 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Hospital Pharmacies 8.2. Retail Pharmacies 8.3. Online Pharmacies 8.4. Drug Stores 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Teva 19.2. Abbott Laboratories 19.3. Novartis 19.4. Mylan 19.5. Pfizer 20. Assumptions & Acronyms Used 21. Research Methodology
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Branded Generics Market
