Overview and Scope
Branded generics refer to an unregistered drug that is marketed under a brand name and provides patients and healthcare providers with a benefit that encourages them to choose the brand. These are the generic medications that have a unique brand name on the market. They might be advertised similarly to how branded medications are.
Sizing and Forecast
The branded generics market size has grown strongly in recent years. It will grow from $335.98 billion in 2023 to $367.67 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to cost savings and affordability, patent expiries, market expansion and access, government initiatives and policies, healthcare reforms.
The branded generics market size is expected to see rapid growth in the next few years. It will grow to $542.32 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to growing demand for generic biologics, rising chronic diseases, emerging markets growth, focus on biosimilars. Major trends in the forecast period include strategic partnerships and collaborations, technological advancements, focus on chronic diseases, market consolidation, patient-centric approach.
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The branded generics market covered in this report is segmented –
1) By Drug Class: Alkylating Agents, Antimetabolites, Hormones, Anti-hypertensive, Lipid Lowering Drugs, Anti-depressants, Anti-psychotics, Anti-Epileptics, Other Drugs
2) By Route of Administration: Topical, Oral, Parenteral, Other Routes of Administration
3) By Application: Oncology, Cardiovascular Diseases, Diabetes, Neurology, Gastrointestinal Diseases, Dermatology Diseases, Analgesics and Anti-inflammatory, Other Applications
North America was the largest region in the branded generics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the branded generics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of chronic diseases will drive the growth rate of branded generics market. Chronic diseases are long-lasting sicknesses that often cannot be healed; however, they are curable and controllable. Chronic diseases are increasing due to the increasing use of tobacco products, poor nutrition, physical inactivity, excessive use of alcohol, and others. Customers across the globe are more inclined toward branded generics to treat chronic diseases as they purchase them at a lower cost than usual medications. For instance, in September 2022, according to the World Health Organization (WHO) 2022 Highlights, a Switzerland-based intergovernmental health organization, there were 41 million deaths, which is 74% of all deaths caused by noncommunicable diseases (NCDs) or chronic diseases every year globally. Thus, an increase in the prevalence of chronic diseases is expected to boost the demand for branded generics during the forecast period.
Key Industry Players
Major companies operating in the branded generics market report are Pfizer Inc., F. Hoffmann-La Roche AG, Sanofi SA, AstraZeneca plc, GlaxoSmithKline plc, Viatris Inc., Teva Pharmaceutical Industries Ltd., Alkem Laboratories Ltd., Mylan N.V., Sandoz International GmbH, Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Cipla Ltd., Aurobindo Pharma Ltd., Dr. Reddy’s Laboratories Ltd., Apotex Inc., Aspen Pharmacare Holdings Limited, Endo International plc, Towa Pharmaceutical Co. Ltd., Mankind Pharma, Glenmark Pharmaceuticals, Par Pharmaceuticals Inc., Unichem Laboratories Ltd., Torrent Pharmaceuticals Ltd., Wockhardt, Intas Pharmaceuticals Ltd., Novartis International AG, Novo Nordisk A/S, Zydus Lifesciences Ltd.
The branded generics market report table of contents includes:
1. Executive Summary
2. Branded Generics Market Characteristics
3. Branded Generics Market Trends And Strategies
4. Branded Generics Market – Macro Economic Scenario
5. Global Branded Generics Market Size and Growth
…..
32. Global Branded Generics Market Competitive Benchmarking
33. Global Branded Generics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Branded Generics Market
35. Branded Generics Market Future Outlook and Potential Analysis
36. Appendix
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