The demand within the global branded generics market is growing at a formidable pace in recent years. The pharmaceutical industry is characterised by several intrinsic and extrinsic dynamics pertaining to licensing, manufacturing, and sales. The concept of patenting holds immense value across the pharmaceutical company.
Future Market Insights (FMI), Dubai: The global branded generics market was valued at US$ 247 Bn in 2019 and is likely to exhibit a CAGR of 8% during 2020 – 2030, according to the latest edition by ESOMAR-certified market research firm Future Market Insights. The previous editions of the report have been hailed and widely cited by industry players for its unbiased and accurate analysis of the market.
A wide range of treatments inclusive of diabetic therapies, antifungal medications, and antibiotics are covered on the part of branded generics. The drugs that lose their patent protection need to be newly formulated. These formulations come to the fore in the form of “Branded Generics”. They are devised either by the same company whose patent for that drug has expired or by generic company.
According to the study, an ever-increasing adoption by large-scale pharmacy chains remains a key factor bolstering the growth of branded generics market. New launches and approvals further expedite market growth. The approvals are facilitated by considerable relaxation in regulations.
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Preference for Parenteral Formulation to Continue
Oral solid dose pharmaceutical formulation, with over 55% share of the global branded generics market value, continues to be highly preferred among patients.
While this preference is sustained by the “convenience” factor of oral administration, market trends are inclined toward parenteral formulation with respect to gathering momentum among patients opting for branded generics medicines.
During the forecast period, adoption of parenteral formulation such as generic injectable is likely to gain ground, thereby accounting for over a fourth of the total market value projected for 2030.
Covid-19 pandemic is likely to disrupt the supply chain for the next few months, as the major players are dependent on imports from China to supply intermediates essential for manufacturing APIs.
Strategic M&A Playing a Pivotal Role in Shaping Up Branded Generics Market
Manufacturers are on the “merger and acquisition” spree to accelerate their ability of serving patients’ needs. This mode of inorganic growth is slated to escalate the growth curve on their part; especially in diverse regions. Some of these strategic acquisitions include:
- In 2019, Pfizer merged its off-patent drugs business with Mylan to boost its business in India
- In 2019, Sandoz (3rd-seeded generic drugs maker) inked an agreement to acquire Japanese business of Aspen Global Incorporated (AGI) to expand its presence in the third largest generics marketplace in the world
- In 2018, Aurobindo Pharma acquired dermatology generic business of Sandoz to expand product offerings in the generic dermatology market
- In 2016, India-based Sun Pharmaceuticals Industries Ltd. (4th-seeded generic drugs maker) acquired Swiss drug maker Novartis AG’s established prescription branded generics portfolio in Japan
Cardiovascular diseases (CVDs) and diabetes continue to account for more than 20% of total sales of branded generics in the global market. While these are projected to remain the top therapeutic application areas throughout the period of projection, it needs to be noted that the demand for branded generic drugs in gastrointestinal disease treatment is increasing.
As far as drug class is concerned, the branded generics market is expected to better explore the arena of “anti-hypertensive medication” in the forecast period.
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More Valuable Insights on Branded Generics Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global branded generics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on branded generics market on the basis of therapeutic application (Oncology, cardiovascular diseases, diabetes, neurology, gastro intestinal diseases, dermatology diseases, analgesic and others), drug class (alkylating agents, anti-metabolites, hormones, anti-hypertensives, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptics and others ), formulation type (oral, parenteral, topical, others) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, drug stores) across seven major regions
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