Market Challenges And Opportunities

Global Patent Medicine Market Restraints

However, high cost of patent medicine as compared to generic medicine is expected to hamper growth of the patent medicine market. Generic medicine manufacturing companies incur less costs in developing generic medicines when compared to branded drug manufacturers. Moreover, majority of the pharmaceutical companies practise ‘Patent Ever-greening’, which means that they try to incur more revenue/profit by making minor changes in existing product using same base formula but different chemical structure formula and secure patent on it, thereby claiming it novel. Furthermore, patients in underdeveloped countries cannot afford patented medicines due to high cost. These factors are expected to restrain the global patent medicine market growth over the forecast period.