NEWARK, Del, June 22, 2023 (GLOBE NEWSWIRE) -- The Branded Generics Market is likely to be valued at US$ 327.8 million in 2023. The industry is expected to reach US$ 747.2 million by 2033, recording an 8.6% CAGR during the forecast period.
In recent years, there has been a remarkable growth in demand for branded generics. Several intrinsic and extrinsic licensing, manufacturing, and sales dynamics characterize the pharmaceutical sector. The patenting principle is treasured in the pharmaceutical industry.
Patented drugs grant a certain entity legal rights to market the product in the pharmaceutical sector. By patenting their products, pharmaceutical companies can prevent being hurt by the presence of multiple competitors in the branded generics business.
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Market's Growth Pace May Thrive As More Patents Expire:
The branded generics industry may continue to rise rapidly due to the increase in expired patents. The growth rate of the branded generics industry may be significantly impacted by the increase in government initiatives to raise public awareness.
Globally increasing trauma and accident instances and bettering healthcare infrastructure are essential aspects surging the branded generics market rise. The key factors boosting market expansion are the growing elderly population and favorable reimbursement policies.
Increased Research and Development Efforts:
The market expansion for branded generics may benefit from increased research and development activities. As the expansion and modernizing of healthcare infrastructure across emerging economies can be witnessed.
Owing to technological advancements and the creation of new markets, the demand for branded generics may accelerate in the future.
Market Restraints:
The entry of new branded generic manufacturers and evolving medical practices can hinder market expansion. The branded generics market may face significant challenges from strict regulatory guidelines and fierce competition from branded medications. During the projected period, the emergence of unfavorable conditions due to the pandemic and a lack of awareness may restrain the market growth for branded generics.
Regional Outlook:
North America controls a massive share of branded generic industries. The presence of advanced healthcare facilities accelerates the growth rate.
During the projection period, Asia Pacific is anticipated to expand due to the growing demand for affordable pharmaceutical or medical products. The government's increasing support may accelerate the market expansion further.
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Key Takeaways:
- With a revenue share of 27.5% in the drug class category, the anti-hypertensive segment may be the leader in 2023.
- By 2033, the therapeutic application category's cardiovascular diseases segment to acquire a market share of 17.95%.
- A sizeable 43.7% market share accounted for the retail pharmacy distribution channel segment in 2023.
- In 2023, North America may account for 19% of the branded generics market.
- From 2023 to 2033, the Europe-branded generics industry may account for a market share of 25%.
- The United States might increase its market share by 16.8% between 2023 and 2033.
- Between 2023 and 2033, Germany may hold a market share of 2.9% in the branded generic industry.
- Japan's share of the branded generic business could reach 4.4% between 2023 and 2033.
- Australia to expand at a CAGR of 7.5% in the branded generic business from 2023 to 2033.
- During the forecast period, China branded generic business to expand at a CAGR of 10.4%.
- From 2023 to 2033, the United Kingdom branded generic industry is likely to register at a 9.5% CAGR.
- Through 2033, the Indian branded generic industry is expected to record a CAGR of 11.9%.
Competitive Landscape:
Pharmacies have no legal restrictions on selling branded generic medications. As a result, many branded generic manufacturers have entered the market.
The branded generics business has had generally intense competition. Several pharmaceutical producers have teamed up to boost their growth graph. Moreover, top vendors in the market can make investments to diversify their product offerings.
Recent Developments:
Big Acquisition:
- In July 2021, Lupin, a renowned multinational pharmaceutical company, disclosed its official agreement to acquire Southern Cross Pharma Pty Ltd (SCP), an Australian subsidiary wholly owned by Lupin. The contract encompasses the complete acquisition of all the outstanding shares of SCP from the company itself.
Product Launches:
- Dr. Reddy's Laboratories Ltd. introduced Invista in India in April 2020. This drug is the brand-name generic version of Sprycel (dasatinib), which is given to treat adult CML patients.
- The generic version of Tracleer was released in the United States in June 2019 by Teva Pharmaceuticals Industries Ltd. and Hikma Pharmaceuticals PLC.
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Key Branded Generics Players:
- Teva Pharmaceuticals Industries Ltd.
- Abbott Laboratories
- Novartis
- Mylan
- Pfizer
Market by Categorization:
By Therapeutic Application:
- Oncology
- Cardiovascular Diseases
- Diabetes
- Neurology
- Gastrointestinal Diseases
- Dermatology Diseases
- Analgesics and Anti-inflammatory
- Others
By Drug Class:
- Alkylating Agents
- Antimetabolites
- Hormones
- Anti-Hypertensive
- Lipid Lowering Drugs
- Anti-Depressants
- Anti-Psychotics
- Anti-Epileptics
- Others
By Formulation Type:
- Oral
- Parenteral
- Topical
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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By Therapeutic Application:
