The global branded generics market, valued at approximately USD 327.8 million in 2023, is set to experience a substantial growth trajectory, projected to reach USD 747.2 million by 2033. This impressive expansion, representing an 8.6% compound annual growth rate (CAGR), reflects a significant upward trend driven by a variety of industry dynamics.
Market Dynamics and Growth Drivers:
The surge in demand for branded generics is attributed to several factors, including the expiration of patents and increasing government initiatives aimed at enhancing public awareness. The pharmaceutical sector is traditionally characterized by stringent patenting principles, which allow companies to maintain a competitive edge by limiting market entry for generic alternatives. As patents expire, however, branded generics gain market prominence, offering more affordable options while maintaining high quality.
Technological Advancements and R&D Investments:
The market’s growth is further bolstered by advancements in research and development, which foster innovation and drive the expansion of healthcare infrastructure, especially in emerging economies. Technological advancements are creating new opportunities and accelerating the demand for branded generics, with an anticipated increase in R&D efforts supporting future market expansion.
Regional Insights:
North America continues to hold a significant share of the branded generics market, benefiting from advanced healthcare facilities. However, Asia Pacific is expected to witness the most rapid growth due to rising demand for cost-effective pharmaceutical products and increased government support.
Key regional projections include:
- China: Projected to expand at a CAGR of 10.4% from 2023 to 2033.
- India: Anticipated to grow at an impressive CAGR of 11.9% during the forecast period.
- Australia: Expected to expand at a CAGR of 7.5%.
- United States: Forecasted to increase its market share by 16.8% between 2023 and 2033.
- Germany: Expected to hold a market share of 2.9%.
- Japan: Projected to capture a 4.4% market share.
- United Kingdom: Likely to register a 9.5% CAGR.
Explore In-Depth Analysis: Find the Complete Branded Generics Market Report
Market Segmentation and Key Takeaways:
The branded generics market is segmented by therapeutic application, drug class, formulation type, and distribution channel:
- Anti-Hypertensive Drugs: Leading the drug class category with a 27.5% revenue share in 2023.
- Cardiovascular Diseases: Expected to dominate the therapeutic application category, with a projected market share of 17.95% by 2033.
- Retail Pharmacy: Accounted for a substantial 43.7% of the distribution channel segment in 2023.
Competitive Landscape and Recent Developments:
The branded generics market is highly competitive, with numerous manufacturers entering the space. Notable recent developments include:
- In July 2021, Lupin acquired Southern Cross Pharma Pty Ltd, enhancing its presence in the branded generics market.
- Dr. Reddy’s Laboratories introduced Invista in India, a branded generic version of Sprycel, in April 2020. Teva Pharmaceuticals and Hikma Pharmaceuticals released a generic version of Tracleer in the U.S. in June 2019.
Key Players:
Prominent manufacturers in the branded generics market include:
- Teva Pharmaceuticals Industries Ltd.
- Abbott Laboratories
- Novartis
- Mylan
- Pfizer
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
