Significant profit margin on branded generic products, new market entrants, and ease in approval of marketing authorization procedures are collectively bolstering the sales of branded generics in global market. The global branded generics market was valued at US$ 231 Bn in 2018 and would exhibit a CAGR of 8% during 2019 - 2029.
Branded generics are the new formulation of off-patent drug sold either by the manufacturer of patented drug or by generic companies that build up brand equity for their generic versions of medications. For instance, in Jan 2019, FDA approved Teva’s generic version of Sabril (Vigabatrin) tablets from Lundbeck for the treatment of refractory complex partial seizures as adjunctive therapy in patients’ ≥10 years of age who have responded inadequately to several alternative treatments.
Key Takeaways - Branded Generics Market Study
- Oral formulation contributed nearly half of the global branded generics revenue share. Parenteral, topical, and other formulation contributed 42% of market share
- Hospital and retail drug stores are expected to stay prominent distribution channels for branded generics
- Branded generics are expected to gain traction as therapeutic application for cardiovascular diseases
- In terms of drug class, anti-hypertensive medication is anticipated to dominate the global branded generics market
- Europe and North America together contributed a significant revenue share in the global branded generics market
Investments in emerging markets with increasing prevalence of chronic diseases, rising geriatric population, significant number of off-patent drugs offer opportunities for market growth. Manufacturers in these regions are continuously focusing on new formulations for off-patent drug to offer drug with better efficacy and safety.
Strategic M&A Instrumental in Shaping up Branded Generics Market
For More Detailed Insights on Branded Generics Market
Merger and acquisition have helped companies transform and accelerate each business segment’s ability to serve patient needs. Manufacturers are focused to expand market potential and capabilities in untapped markets. Increase in number of regional players in the branded generics market are responsible for intense competition among the established players and emerging players.
In 2019, Pfizer merged its off-patent drugs business with Mylan to boost its business in India. In 2019, Sandoz agreed to acquire Japanese business of Aspen Global Incorporated (AGI) to expand its presence in the third largest generics marketplace in the world. In 2018, Aurobindo pharma acquired dermatology generic business of Sandoz to expand product offerings in the generic dermatology market. In 2016, India-based Sun Pharmaceuticals Industries Ltd. acquired Swiss drug maker Novartis AG’s established prescription branded generics portfolio in Japan.
More Valuable Insights on Branded Generics Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2029. The global branded generics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provide compelling insights on branded generics market on basis of therapeutic application (Oncology, cardiovascular diseases, diabetes, neurology, gastro intestinal diseases, dermatology diseases, analgesic and others), drug class (alkylating agents, anti-metabolites, hormones, anti-hypertensives, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptics and others ), formulation type (oral, parenteral, topical, others) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, drug stores) across seven major regions.
For additional information, write to the analyst at firstname.lastname@example.org
About Healthcare division of FMI
The Healthcare team at Future Market Insights has consistently tracked and analyzed rapidly evolving trends and developments in the global healthcare industry, encompassing pharmaceuticals and medical devices markets. The team facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.