The global branded generics market, valued at approximately USD 327.8 million in 2023, is on a trajectory of substantial growth, with projections indicating it will soar to USD 747.2 million by 2033. This impressive expansion, representing an 8.6% compound annual growth rate (CAGR), underscores a significant upward trend driven by evolving industry dynamics and market drivers.
The marked increase in demand for branded generics is primarily driven by several key factors. One major contributor is the expiration of patents, which historically granted exclusive market rights to original drug manufacturers. As these patents expire, branded generics gain prominence, offering high-quality yet more affordable alternatives. This shift is further supported by growing government initiatives focused on raising public awareness and enhancing access to cost-effective pharmaceutical options.
The growth of the branded generics market is also fueled by significant advancements in research and development. Ongoing innovation and increased investment in R&D are crucial in expanding healthcare infrastructure, particularly in emerging economies. These technological advancements are not only creating new opportunities but are also accelerating the demand for branded generics. Future market expansion is expected to be supported by continued R&D efforts and technological breakthroughs.
North America maintains a substantial share of the branded generics market, bolstered by its advanced healthcare facilities and established infrastructure. However, the Asia Pacific region is anticipated to experience the most rapid growth. This surge is attributed to rising demand for cost-effective pharmaceutical products and increased government support aimed at improving healthcare accessibility.
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.
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:
- Acquisition: In July 2021, Lupin acquired Southern Cross Pharma Pty Ltd, enhancing its presence in the branded generics market.
- Product Launch: 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.
Elevated Demand for Branded Generics: Our Full Report Offers a Thorough Analysis of Trends and Insights!
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
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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.
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