Branded Generics Market

2021 Analysis and Review: Branded Generics Market by Drug Class- Alkylating Agents, Antimetabolites, Hormones and others for 2021-2031

Branded Generics Market Snapshot

ESOMAR-certified market research firm Future Market Insights (FMI) in its latest market analysis forecasts that the branded generics market will register a year-on-year growth of 4.9% in 2021, reaching a valuation of 283.2 Bn.

On account of the growing popularity of branded generics, the market is poised to expand at a CAGR of 5.8% between 2021 and 2031. The top players are expected to hold nearly 20%-25% share in the overall market in 2021.

Asia Pacific Excluding Japan (APEJ) continues to dominate the global market due to increasing rate of branded generics uptake by large-scale pharmacy chains in the emerging economies

Key Points Covered in Branded Generics Market Survey

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Branded Generics Market and how to Navigate
  • Recommendation on Key Winning Strategies

Branded Generics Market Historic Sales Compared to 2021-2031 Forecast Outlook

The branded generics market is set to register a CAGR of 5.8% between 2021 and 2031 in comparison to 6.5% CAGR registered from 2016 to 2020.

With the skyrocketing healthcare costs and the rising need for quality generic drugs, the interest in branded generics has increased across the world. Drug patent expiration is mainly driving the branded generics market.

Consumer choice is vital in accelerating the growth of branded generic market. People tend to choose the best products they can afford. Brands command a premium trust, consistent quality and delivery of a promise.

A branded generic is a generic drug which has gone through Abbreviated New Drug Application (ANDA) process. Increasing prevalence of chronic ailments will positively impact the demand for branded generics.

Changing lifestyle has led to the higher incidence of cardiovascular diseases and other ailments such as diabetes and hypertension. As a result, there has been a gradual surge in the sales of anti-hypersensitive branded generics.

According to World Health Organization (WHO) around 17.9 million people die each year from cardiovascular diseases (CVDs) around the world. To counter these diseases and minimize the overall cost of treatment, patients are shifting to branded generics.

Will Developing Economics Emerge as Lucrative Pockets for Branded Generics Sales?

The demand for branded generics is increasing in low- and middle-income countries. They are far more common in countries like India, China, Brazil, and Mexico, serving middle- and lower-income consumers where other options are few.

Emerging markets are home to more than 70% of the world's population. These markets can be tricky for pharmaceutical players that are more comfortable operating in developed market environment.

Branded generic companies are employing various strategies to penetrate the emerging markets. They are indulging in enhancing their contracting capabilities and improving their portfolio marketing.

Various organizations and companies are investing to expand their footprint in underdeveloped, which will aid the overall expansion of the market. For instance, in November 2020, CDC Group, Development Partners International (DPI) and the European Bank for Reconstruction and Development (EBRD) joined forces to create new US$ 750 Mn platform for delivering affordable treatments across Africa, by combining Egyptian Pharmaceuticals manufacturer with Indian generic drugs company.

First of its kind Pan-Africa Pharma platform will generate significant cost saving for healthcare providers across Africa and broaden range of therapeutics available in underserved markets.

Country-wise Insights

How Will China Retain the Dominance of Leading Branded Generics Market?

The pharmaceutical industry in China is driven by low price and high popularity of branded generic drugs. China has adopted a fast-track approach in its drug evaluation and approval system allowing more new domestic drugs, innovative drugs and imported drugs to hit the market.

The market in China is highly competitive with government controlling the drug approval and drug development. Growing popularity of generic and branded generics with their cost-effective features is driving the market in the country.

According to the work plan jointly issued by 12 government departments including National Health Commission, China will publish and update the list of generic drugs at the end of every year.

In 2018, China released its first list of marketed medicine, with 131 types of medicine in 203 specifications, according to the China Food and Drug Administration (CFDA). The list contains both generic and branded medicines, and specifies reference preparations, which offer research standards for generic medicines.

With the expanding pharmaceutical industry, China is expected to offer plethora of opportunities for the manufacturers of branded generics.

How is the Demand for Branded Generics Faring in India?

India is one of the biggest exporters of generic medicines to various countries such as the U.S., Europe and Africa. Brand generic drug makers are able to both develop and sell the generic medications at a much lower cost without compromising the quality of the product.

According to India Brand Equity foundation, the pharmaceutical sector in India supplies over 50% of global demand for various vaccines, 40% of generic demand in the U.S. and 25% of all medicine in U.K.

The India’s pharmaceutical market is dominated by branded generics, creating generic-induced price competition. The robust growth of branded generics market in India also can be attributed to the rising disposable income, growing demand branded generics at low prices and increasing prevalence of chronic diseases.

Why is the U.S. anticipated to yield Credible Growth Opportunities?

In the U.S., the production of branded generics has increased substantially as they are less expensive than branded drugs and do not require extensive research and testing. Increasing prevalence of chronic diseases across the country such as cardiovascular diseases, diabetes, Alzheimer's diseases and Parkinson's diseases has provided the required thrust to the branded generics market.

Category-wise Insights

Rising Prevalence of Cardiovascular Diseases Continue to Impacting the Market

Cardiovascular diseases (CVDs) and diabetes remain the top therapeutic application areas, accounting for more than increasing sales of branded generics in the global market.

According to World Health Organization (WHO), around 17.9 million people die each year from cardiovascular diseases (CVDs) around the world. Similarly, 1.13 billion people worldwide have hypertension. This leads to the adoption of branded generics such as anti-hypertensive drugs, which eventually expands market.

Which Formulation Type Dominates the Branded Generics Market?

Oral formulation segment leads the branded generics market with a share of more than 55%. The growth of the segment can be attributed to the convenience factor associated with oral administration.

Oral medications are easy to administer and patient compliance with oral medication is higher over other routes of administration. Moreover, tablets and capsules are being made more palatable using sweeteners and colored coatings.

However, FMI predicts that the parental formulation will take the spotlight during the forecast period. The parental segment is expected to take lead in the market by 2031 end.

How are Online Pharmacies Contributing towards Branded Generics Sales?

In terms of distribution channel, Future Market Insights have segmented the market into hospital pharmacies, retail pharmacies, online pharmacies and drug stores.

With the emergence of e-commerce, manufacturers are forging alliances with online and retail pharmacies. Unprecedented outbreak of COVID-19 normalized branded generics shopping via online pharmacies.

Patients find it easy and time saving to directly get their medication from online pharmacies. As a result, online pharmacies are anticipated to gain traction through 2021 and beyond.

Competitive Landscape

Key players operating in the branded generics market are focusing on offering low-cost branded generics in order to gain a competitive edge in the market. For instance

  • In 2020 Mylan, a global pharmaceutical company, announced the launch of itsremdesivir under the brand name DESREM in India to address, unmet needs amid the evolving COVID-19 pandemic. The drug is approved for the treatment of suspected incidence of COVID-19 in adults and children with severe diseases symptoms.
  • In July 2021, Lupin announced that it will acquire Australia based Southern Cross Pharma pty Ltd (SCP).
  • In May 2021, Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. announced the launch of THIOLA (tiopronin) tablets for the presentation of cystine (kidney) stones.

Scope of the Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value and ‘000 Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Therapeutic Application, Drug Class, Formulation Type, Distribution channel and Region.

Key Companies Profiled

Teva, Abbott Laboratories, Novartis, Mylan, Pfizer and others.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is the current branded generics market value?

    The branded generics market exceeded the total market value of US$ 283.2 Mn in 2021

  • At what rate did the branded generics market grow between 2016 and 2020?

    The branded generics market exhibited steady growth at 6.5% CAGR between 2016 and 2020.

  • What are the key trends driving branded generics sales?

    Entry of new branded generics, encouraging use of branded generics by healthcare providers and professionals and two-tiered strategy are some of the key trends driving the market.

  • Who are the leading players of branded generics?

    Top prominent players of branded generics market are Teva, Abbott Laboratories, Novartis, Mylan and Pfizer

  • What will be the demand outlook for North America branded generics market?

    North America’s Branded Generics market demand is set to rise at 3.8% CAGR over the forecast period of 2021 and 2031.

  • What is the market share of leading players in branded generics market?

    Top players included in Tier-1 i.e., Pfizer Inc., Mylan N.V, Abbot Laboratories, Teva Pharmaceutical Industries Ltd. accounted for 20%-25% share in 2021.

  • At what rate will branded generics demand rise in Europe?

    Demand for branded generics is expected to register sluggish growth at 4.1% CAGR across Europe between 2021 and 2031.

  • Which countries are the key producers of branded generics?

    The U.S., China, India, Russia and Brazil are the key producers of branded generics.

  • Which are the key exporters of branded generics?

    The key exporters of branded generics are China, India, Russia and the U.S.

  • What is the current market share of Japan and South Korea in the global Branded Generics market?

    Japan and South Korea accounts for 5% and 1% market share in 2021, respectively.

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

Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • MEA
  • Japan

Need specific information?

In the news

How Businesses Can Utilize Market Research to Create Reactive, Recession-proof Strategies for Survival

by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights

Our Clients

View Our Reports from Healthcare

View Reports

Recommendations

Branded Generics Market