Branded Generics Market

Market Overview

The global branded generics market size was valued at USD 223.09 billion in 2021 and is projected to reach USD 365.85 billion by 2030, registering a CAGR of 5.65% from 2022 to 2030.

Branded generics are the most recent iteration of an off-patent medicine's formulation, and they can be marketed either by a patented drug producer or by generic companies that establish brand equity for their generic drug versions. Branded generics are also known as "generic brands." The pharmaceutical sector is characterized by a number of different dynamics, both intrinsic and external, that are related to licensing, production, and marketing.

The concept of patenting carries a huge amount of relevance throughout the entirety of the pharmaceutical sector. When it comes to the pharmaceutical sector, having a drug patented by a certain organization grants that organization the legal right to distribute the product. Patenting allows pharmaceutical companies to protect themselves from the competitive threat posed by the entrance of new competitors into the market. In spite of this, the idea of branded generics has become increasingly prevalent in the pharmaceutical sector over the past few years. Many different pharmaceutical companies are able to compete in the market to sell branded generics because these drugs are not protected by a patent.

Market Dynamics

Market Drivers

The rise in expired patents and rise in the government initiatives

The rapid expansion of the market for branded generics will be helped along by the increasing number of patents that have run their course.

Additionally, an increase in the number of measures taken by the government to raise awareness among the general public will have a significant impact on the growth rate of the market for branded generics. The increasing number of incidences of trauma and accidents around the world as well as the improvement of healthcare infrastructure are two other key aspects that are contributing to the rise of the market. In addition, the primary drivers that will increase the development of the market are the expanding population of elderly people as well as regulations that are favourable for reimbursement.

Market Restraints

Misapplication of risk evaluation

The incorrect application of risk evaluation and mitigation techniques (REMS) to the entry of the Branded Generics Market is a significant issue that is expected to slow down the growth of the market over the course of the forecast period.

Market Opportunity

Less expensive & increase in chronic disease

Because they are less expensive than branded pharmaceuticals and do not require extensive research and testing, the manufacturing of branded generics has significantly expanded. This is due to the fact that branded generics do not require extensive research and testing. The push that the market for branded generics needed came in the form of an increase in the prevalence of chronic diseases around the world, such as cardiovascular diseases, diabetes, Alzheimer's disease, and Parkinson's disease.

Segmental Analysis

Due to an increase in ANDA approvals and product launches over the previous few years, the anti-hypertensive sector dominated the market in 2021 with a revenue share of 15.67 percent. For example, Teva Pharmaceuticals Industries Ltd. and Hikma Pharmaceuticals PLC debuted the generic version of Tracleer in the United States in June 2019.

Due to increased investments in the development of complicated or value-added generics, it is predicted that the hormones segment would expand at a rapid rate throughout the forecast period. The prevalence of numerous metabolic illnesses is being driven by an increasingly sedentary lifestyle. In the majority of nations, hormonal imbalances are an increasing problem. Among these conditions are thyroid and sex hormone imbalances.

Due to the patent expiration of major medications in this domain, the oncology segment is anticipated to grow at the highest CAGR of 6.2% through 2030. The rising prevalence of sickness may also contribute to market expansion. According to WCRF International, there were an expected 18.1 million cancer cases worldwide in 2020, 8.8 million of which occurred in women and 9.3 million in men.

Due to rising demand for related items, it is anticipated that the gastrointestinal illnesses segment would expand at a moderate CAGR over the forecast period. According to an NCBI report, around 113 million prescription proton pump inhibitors were supplied worldwide in 2020.

Due to various advantages of oral dosage over other forms, such as convenience of administration and the absence of nursing needs, oral dosage accounted for the greatest revenue share of 59.25 percent in the branded generics market in 2021, resulting in improved patient acceptability and compliance.

In contrast, the parenteral category is anticipated to grow at the highest CAGR of 6.9% during the projection period. A rise in the incidence of target diseases, such as cancer, hepatitis C, multiple sclerosis, and others, has increased the market for generic injectables. This section includes, among others, chemotherapeutic medicines, small molecule antimicrobials, insulin, and peptide hormones.

In 2021, the retail pharmacy distribution channel segment retained the largest market share at 58.75 percent. This is due to the increasing prevalence of chronic diseases in the general population, as well as the different discounts offered by retail pharmacies. In the United States, there has been a consolidation of retail pharmacy chains.

In contrast, hospital pharmacies are anticipated to experience moderate growth over the projection period. Injectable medications contribute significantly to hospital pharmacy sales.

Regional Analysis

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

In 2021, North America held a revenue share of 19.83 percent of the worldwide market, and analysts anticipate the region's share will continue to grow at a consistent rate over the course of the forecast year. There are a number of variables driving growth in the region, including a disease burden that is increasing along with the region's aging population and somewhat high penetration of branded generic medications.

On the other hand, it is anticipated that the market in Asia and the Pacific would expand at a compound annual growth rate (CAGR) of 6.4% throughout the period covered by the estimate. It is anticipated that a significant contributor to growth will be the expanding market share of products in countries such as Japan and India. In addition, countries in this region are putting a focus on the development of local manufacturing centers in order to combat the lack of life-saving medications and, as a result, meet the needs that are currently unmet. There is a stronger demand for branded generics in this region as a result of the fact that doctors in some countries, such as India, prescribe medications by their brand names rather than their INNs.

Recent Developments

In 2020 Mylan, As the COVID-19 pandemic continues to evolve, a worldwide pharmaceutical business has announced the sale of its remdesivir in India under the brand name DESREM. This move is being made to address unmet needs in the country. The medication has been given the green light for use in the treatment of severe disease symptoms in both adults and children who have a probable cause of COVID-19.

In July 2021, Southern Cross Pharma Pvt Ltd. of Australia was the target of an acquisition announcement made by Lupin (SCP).

In May 2021, Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd., has announced the availability of THIOLA (tiopronin) tablets for the presentation of cysteine (kidney) stones. These pills are intended to treat patients who have experienced kidney stones.

Branded Generics Market Segmentation

Class Outlook

• Alkylating Agents
• Antimetabolites
• Hormones
• Anti-hypertensive
• Lipid-Lowering Drugs
• Anti-depressants
• Anti-psychotics
• Anti-Epileptics
• Others

Application Outlook

• Oncology
• Cardiovascular Diseases
• Neurological Diseases
• Gastrointestinal Diseases
• Dermatological Diseases
• Acute And Chronic Pain
• Others

Administration Outlook

• Topical
• Oral
• Parenteral
• Others

Distribution Channel Outlook

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Regional Outlook

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Spain

The Asia Pacific

• Japan
• China
• India
• Australia
• South Korea

Latin America

• Brazil
• Mexico
• Argentina

The Middle East and Africa (MEA)

• South Africa
• Saudi Arabia
• UAE