BRANDED GENERICS MARKET ANALYSIS

The global branded generics market is estimated to be valued at US$ 327.4 million in 2023 and is expected to exhibit a CAGR of 7.3% during the forecast period (2023-2030).

Analysts’ Views on Global Branded Generics Market:

Due to larger discounts provided by players, it is anticipated that there will be a considerable demand for branded generic medications, which will drive the global branded generics market over the forecast period. For instance, Some of the most popular medications, including Faslodex from AstraZeneca, Bystolic from Amerigen Pharma, Emtriva from Cipla, Hysingla ER from Alvogen, Performist from Teva, Sutent from Mylan, and Zomig ns from Lannett, observed their patents expire in 2021, making generic and biosimilar versions of these medications available. In the US and EU healthcare industries, numerous important medications were anticipated to lose their patent protection in 2022, opening the market to branded generics.

Figure 1. Global Branded Generics Market Share (%), by Drug Class, 2023

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Global Branded Generics Market – Driver

Off-invoice discounts to fuel growth of the global branded generics market

Due to greater reductions provided by competitors, the demand for branded generic medications is anticipated to be significant in developed markets such as the U.S. In the U.S., off-invoice discounts average about 30% compared to 17% in the EU.

Figure 2. Global Branded Generics Market Value (US$ Million), by Region, 2023

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Global Branded Generics Market- Regional Analysis

Among regions, Asia Pacific is estimated to hold a dominant position in the global branded generics market over the forecast period. The rising market share of branded generics in nations such as Japan and India is anticipated to be a key development driver. In order to combat the lack of life-saving medications, governments in this region are also concentrating on the growth of their industrial hubs, thereby, meeting unmet demands. There is a stronger demand for branded generic drugs in nations such as India, where doctors typically prescribe medications under brand names rather than International Nonproprietary Names (INN).

Global Branded Generics Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems with the transportation of drugs from one place to another.

The COVID-19 pandemic has had a moderate influence on the market. Due to the tactics used to stop the pandemic's spread, a slowdown and disturbance in the pharmaceutical supply chain were noted during this time. Additionally, regulatory activities including authorization and the Health Technology Assessment procedure were impacted. Reimbursement decisions have been deprioritized. It had a mild impact on the rate of drug prescription and uptake as well.

Global Branded Generics Market Segmentation:

The global branded generics market report is segmented into by Drug Class, by Formulation, by Indication, by Distribution Channel and Region.

By Drug Class, the market is segmented into Alkylating Agents, Antimetabolites, Hormones, Anti-Hypertensive, Lipid Lowering Drugs, Anti-Depressants, Anti-Psychotics, Anti-Epileptics & Others. Out of which, the Anti-Hypertensive segment is projected to dominate the market owing to the rising Abbreviated New Drug Application (ANDA) approvals and product launches recently.

By Formulation, the market is segmented into Oral, Parenteral, Topical and Others. The oral segment dominated the market. This is due to the ease of oral administration over others and no nursing requirements, thus leading to higher patient acceptability and compliance.

By Indication, the market is segmented into Oncology, Cardiovascular Diseases, Diabetes, Neurology, Gastrointestinal Diseases, Dermatology Diseases, Analgesics and Anti-inflammatory and Others. Among these Cardiovascular disease is projected to hold the largest share among other segments. As cardiovascular diseases account for over 30% of all deaths, mostly due to ischemic heart disease and stroke, and approximately 10% of the overall number of Disability Adjusted Life Years. Also, the rising clinical trials for the application of branded generics in cardiovascular diseases treatment is rising.

 By Distribution Channel, the market is segmented into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies and Drug Stores. The retail pharmacy holds the largest share in the distribution channel which can be attributed to the growing diseases among general public as well as discounts and easy availability in retail stores.

Global Branded Generics Market Cross Sectional Analysis:         

Rising incidence of cardiovascular diseases in the Asia Pacific region. According to WHO 2021 data, CVD was the cause of an estimated 9.4 million deaths in SEARO and WPRO and accounted for one‑third of all deaths in 2016 in these regions. As these diseases is on the rise in the region, branded generics market is also increasing in result.

Global Branded Generics Market: Key Developments

In April 2020, Dr. Reddy's Laboratories Ltd. introduced Invista in India. This product is the branded generic version of Sprycel (dasatinib) indicated for the treatment of adult patients with Chronic Myeloid Leukemia (CML).

Moreover, In January 2020, Endo International plc. announced that one of its operating companies, Par Pharmaceutical, has begun shipping an authorized generic version of Allergan's Carafate (sucralfate) oral suspension 1gm/10 mL to the U.S.

Global Branded Generics Market: Key Trends

Rising prevalence of chronic diseases and increasing penetration of branded generic drugs is driving the growth of market

Increase in prevalence of chronic diseases is like drive the growth of market. For instance a per Centers for Disease Control data in September 2020, around 25.5% of US adults had multiple diagnosed chronic conditions among 10 different conditions: arthritis, cancer, chronic obstructive pulmonary disease (COPD), coronary heart disease, current asthma, diabetes, hepatitis, hypertension, stroke, and weak or failing kidneys. Compared with adults without chronic conditions, adults with multiple chronic conditions have worse health-related quality of life, higher health care costs, and increased risk of death. Thus, owing to the above factors, the demand for cheap and effective branded generics is rising, which is driving the market growth rapidly.

Global Branded Generics Market: Restraint

             Price pressure from payers to hinder market growth

Governments and insurers in emerging economies encourage consumers to switch from branded generics to low cost generics in order to contain healthcare costs. Moreover, several emerging countries taking lower benchmark prices from European/International core countries cluster to drive down the prices. For instance, in countries such as Turkey, South Africa, payers adopted international benchmarking of prices and purchasing large volumes of inexpensive generic medicines to curtail the healthcare expenditure.

Global Branded Generics Market - Key Players

Major players operating in the global branded generics market include, Mylan N.V, Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Aspen Pharmacare Holding Ltd., Abbott Laboratories, and Valeant Pharmaceuticals International, Inc.