In 2023, the dynamic world of the branded generics industry will be valued at an impressive US$327.8 million. Looking ahead, the branded generics sector is set to skyrocket to an estimated US$747.2 million by 2033, boasting a compelling CAGR of 8.6% throughout the forecast period.
Branded generics represent the latest incarnations of off-patent pharmaceuticals, masterfully crafted by either patent-holding pharmaceutical giants or savvy generic drug manufacturers with strong brand recognition for their generic counterparts. A web of intricate internal and external licensing, production, and marketing strategies characterizes this multifaceted industry. Indeed, the concept of patenting stands as a linchpin in the pharmaceutical realm, shaping the future of this thriving sector
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Since branded generics are free from patenting, companies are investing handsome amounts in this drug category. The market is set to reach a valuation of around 283.2 Bn in 2021, with top players in tier-1 accounting for 20%-25% market share.
The entry of new players, simple market authorization procedures, greater profit margin, and off-invoice discounts will expand the branded generics market during the forecast period.
As per the FMI’s analysis, despite the slight setback due to the pandemic, the global branded generics market registered year-on-year (Y-o-Y) growth at 4.9% CAGR during 2020-2021.
“Rising demand for branded generics across both developing and developed economies along with high penetration of pharmaceutical industry will offer lucrative growth opportunities for the branded generics manufacturers during the forecast period,” says the FMI analyst.
Key Takeaways from FMI’s Branded Generics Market Study
- China and India are spearheading the growth of the Asia Pacific market spurred by the increasing adoption of branded generics by large-scale pharmacy chains in the emerging economies
- The U.S. will lead North America’s branded generics market, registering a growth at 3.83% CAGR during the forecast period.
- The market in India is expected to offer lucrative growth opportunities to branded generics manufacturers backed by the expansion of the pharmaceutical industry
- In terms of therapeutic application, cardiovascular diseases, and diabetes are expected to account for a considerable market share
- Oral solid-dose pharmaceutical formulation continues to be highly preferred among patients. The oral segment accounts for over 55% share of the global branded generics market.
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Competitive Landscape
Teva, Abbott Laboratories, Novartis, Mylan, and Pfizer are some prominent players operating in the branded generics market cumulatively holding around 20-25% market share.
Key players operating in the branded generic market are focusing on expanding their business in emerging markets. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development, and collaborations to gain a competitive edge in the market.
- In October 2020, Glenmark Pharmaceuticals introduced NINDANIB (Nintedanib) for the treatment of pulmonary fibrosis in India. Glenmark has been amongst the first to launch the branded generic version at an affordable cost for the treatment of pulmonary fibrosis in India.
Branded Generics Market by Category Therapeutic Application:
- Oncology
- Cardiovascular Diseases
- Diabetes
- Neurology
- Gastrointestinal Diseases
- Dermatology Diseases
- Analgesics and Anti-inflammatory
- Others
Drug Class:
- Alkylating Agents
- Antimetabolites
- Hormones
- Anti-Hypertensive
- Lipid Lowering Drugs
- Anti-Depressants
- Anti-Psychotics
- Anti-Epileptics
- Others
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Formulation Type:
- Oral
- Parenteral
- Topical
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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