Rising Above the Norm: Branded Generics Market Surges to a Remarkable US$ 327.8 Million at a Thriving CAGR of 8.6% | FMI

In 2023, the Branded Generics Market is assessed to be worth US$ 327.8 million. The marked generics business is supposed to arrive at US$ 747.2 million by 2033, catching a CAGR of 8.6% during the gauge period.

Marked generics are the latest variants of off-patent drugs provided by licensed drug producers or conventional medication organizations with solid brand mindfulness for their nonexclusive medication reciprocals. A few interior and outside permitting, creation, and promoting qualities describe the drug business. The idea of licensing is crucial to the drug business.

The rapid expansion of the branded generics market can be ascribed to the rising number of blockbuster or branded medicines whose patents are expiring as well as the rising incidence of chronic diseases. Growing consumer desire for affordable medical care is helping to drive up market demand.

Pharmaceuticals that have been re-released under a new brand name are known as branded generics. They are used to address a variety of illnesses, including back pain, diabetes, and hypertension. These medications make up a small but profitable portion of the total generic market.

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Since branded generics are free from patenting, companies are investing handsome amounts on this drug category. The market is set to reach a valuation of around 283.2 Bn in 2021, with top players in tier-1 accounting for 20%-25% market share.

The entry of new players, simple market authorization procedures, greater profit margin and off-invoice discounts will expand branded generics market during the forecast period.

As per the FMI’s analysis, despite the slight setback due to the pandemic, the global branded generics market registered year-on-year (Y-o-Y) growth at 4.9% CAGR during 2020-2021.

“Rising demand for branded generics across both developing and developed economies along with high penetration of pharmaceutical industry will offer lucrative growth opportunities for the branded generics manufacturers during the forecast period” says the FMI analyst.

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Key Takeaways from FMI’s Branded Generics Market Study

• China and India are spearheading the growth of Asia Pacific market spurred by the increasing adoption of branded generics by large-scale pharmacy chains in the emerging economies
• The U.S. will lead the North America’s branded generics market, registering a growth at 3.83% CAGR during the forecast period.
• The market in India is expected to offer lucrative growth opportunities to branded generics manufacturers backed the expansion of pharmaceutical industry
• In terms of therapeutic application, cardiovascular diseases and diabetes are expected to account for considerable market share
• Oral solid dose pharmaceutical formulation continues to be highly preferred among patients. The oral segment accounts for over 55% share of the global branded generics market.

Competitive Landscape

Teva, Abbott Laboratories, Novartis, Mylan, Pfizer are some prominent players operating in the branded generics market cumulatively hold around 20-25% market share.

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Key players operating in branded generic market are focusing on expanding their business in emerging markets. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.

• In October 2020, Glenmark Pharmaceuticals, introduces NINDANIB (Nintedanib) for the treatment of pulmonary fibrosis in India. Glenmark has been amongst the first to launch the branded generic version at an affordable cost for the treatment of pulmonary fibrosis in India.

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

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