The Global Branded Generics Industry is poised for a transformative journey, propelled by unprecedented market dynamics and evolving healthcare landscapes, according to industry experts at Future Market Insights (FMI). FMI’s latest report forecasts substantial growth, with the sector expected to surge from an estimated value of US$ 327.8 million in 2023 to a staggering US$ 747.2 million by 2033, marking an impressive Compound Annual Growth Rate (CAGR) of 8.6%.
The surge in the branded generics market can be attributed to several key factors that are reshaping the pharmaceutical landscape. One of the primary drivers is the expiration of patents for numerous blockbuster drugs, creating opportunities for the introduction of branded generics. This phenomenon not only fosters increased competition but also contributes to enhanced affordability for consumers.
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Since branded generics are free from patenting, companies are investing handsome amounts on 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 Global Branded Generics Industry during the forecast period.
As per the FMI’s analysis, despite the slight setback due to the pandemic, the Global Branded Generics Industry 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 Global Branded Generics Industry 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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Global Branded Generics Industry Competitive Landscape
Teva, Abbott Laboratories, Novartis, Mylan, and Pfizer are some prominent players operating in the Global Branded Generics Industry cumulatively holding around 20-25% market share.
Key players operating in the Global Branded Generics Industry 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.
Global Branded Generics Industry 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
Formulation Type:
- Oral
- Parenteral
- Topical
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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