According to the research report, the global branded generics market was valued at USD 252.46 billion in 2023 and is expected to reach USD 410.86 billion by 2032, to grow at a CAGR of 5.60% during the forecast period.
Market Overview
Branded generics are pharmaceutical products that are marketed under a proprietary brand name, offering the same therapeutic benefits as their branded counterparts but at a more affordable price point. These medications have gained significant traction due to their cost-effectiveness, especially in emerging markets where access to healthcare is a critical concern.
Key Drivers:
Patent Expirations: The expiration of patents for blockbuster drugs has paved the way for the introduction of branded generics, allowing manufacturers to offer affordable alternatives without compromising on quality.
Cost-Effectiveness: Branded generics provide a middle ground between expensive branded drugs and traditional generics, ensuring affordability while maintaining therapeutic efficacy.
Regulatory Support: Governments worldwide are promoting branded generics to enhance drug accessibility and reduce healthcare costs, further fueling market growth .
Market Segmentation
By Drug Class:
Anti-Hypertensive: Leading the market with a significant revenue share, driven by the increasing prevalence of cardiovascular diseases .
Hormones: Projected to register the fastest growth during the forecast period, owing to advancements in hormone replacement therapies.
Oncology: Anticipated to witness substantial growth, driven by rising cancer incidences and the demand for affordable cancer treatments.
By Route of Administration:
Oral: Dominating the market due to ease of administration and patient preference.
Parenteral: Expected to grow at a significant CAGR, driven by advancements in injectable formulations.
By Distribution Channel:
Retail Pharmacy: Accounting for the largest market share, facilitated by widespread retail pharmacy chains and increased patient access.
Hospital Pharmacy: Experiencing steady growth, supported by hospital procurement systems and bulk purchasing.
Online Pharmacy: Gaining popularity, especially in regions with digital healthcare infrastructure.
Regional Analysis
North America: Accounted for 19.8% of the global market in 2021, with the United States leading in revenue share. The region’s growth is attributed to advanced healthcare infrastructure and a high prevalence of chronic diseases .
Europe: France is expected to register the highest CAGR from 2022 to 2030, driven by supportive healthcare policies and increasing adoption of branded generics .
Asia Pacific: The region is projected to lead the market in terms of revenue by 2030, with India and China spearheading growth due to rising healthcare demands and government initiatives .
Latin America: Experiencing steady growth, supported by increasing healthcare investments and adoption of cost-effective medications.
Middle East & Africa: Growth driven by improving healthcare infrastructure and rising awareness about branded generics.
Key Companies
- Teva Pharmaceutical
- Lupin
- Sanofi
- Sun Pharmaceutical Industries
- Dr. Reddy’s Laboratories
- Endo International
- GlaxoSmithKline
- Pfizer
- Apotex
- Viatris Inc
Explore More:
https://www.polarismarketresearch.com/industry-analysis/branded-generics-market
Conclusion
The branded generics market is poised for substantial growth, driven by patent expirations, cost-effectiveness, and supportive regulatory environments. As emerging markets continue to expand and healthcare access improves, the demand for branded generics is expected to rise, presenting significant opportunities for pharmaceutical companies to innovate and cater to a broader patient base.
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