FMI Logo
The USA offers growth opportunities in branded generics due to cost-effectiveness and the rising prevalence of chronic diseases.
NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 6, 2023 /EINPresswire.com/ — In 2023, the branded generics market size is projected to be worth US$ 327.8 million. The industry is predicted to grow at a rate of 8.6% CAGR to reach US$ 747.2 million by 2033.
In recent years, there has been a remarkable growth in demand for branded generics. Several intrinsic and extrinsic licensing, manufacturing, and sales dynamics characterize the pharmaceutical sector. The patenting principle is treasured in the pharmaceutical industry.
Patented drugs grant a certain entity legal rights to market the product in the pharmaceutical sector. By patenting their products, pharmaceutical companies can prevent being hurt by the presence of multiple competitors in the branded generics business.
Get a Sample Copy of the Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-1260
Market’s Growth Pace May Thrive As More Patents Expire:
The branded generics industry may continue to rise rapidly due to the increase in expired patents. The growth rate of the branded generics industry may be significantly impacted by the increase in government initiatives to raise public awareness.
Globally increasing trauma and accident instances and bettering healthcare infrastructure are essential aspects surging the branded generics market rise. The key factors boosting market expansion are the growing elderly population and favorable reimbursement policies.
Increased Research and Development Efforts:
The market expansion for branded generics may benefit from increased research and development activities. As the expansion and modernizing of healthcare infrastructure across emerging economies can be witnessed.
Owing to technological advancements and the creation of new markets, the demand for branded generics may accelerate in the future.
Market Restraints:
The entry of new branded generic manufacturers and evolving medical practices can hinder market expansion. The branded generics market sales may face significant challenges from strict regulatory guidelines and fierce competition from branded medications. During the projected period, the emergence of unfavorable conditions due to the pandemic and a lack of awareness may restrain the market growth for branded generics.
Regional Outlook:
North America controls a massive share of branded generic industries. The presence of advanced healthcare facilities accelerates the growth rate.
During the projection period, Asia Pacific is anticipated to expand due to the growing demand for affordable pharmaceutical or medical products. The government’s increasing support may accelerate the market expansion further.
Key Takeaways:
With a revenue share of 27.5% in the drug class category, the anti-hypertensive segment may be the leader in 2023.
By 2033, the therapeutic application category’s cardiovascular diseases segment to acquire a market share of 17.95%.
A sizeable 43.7% market share accounted for the retail pharmacy distribution channel segment in 2023.
In 2023, North America may account for 19% of the branded generics market.
From 2023 to 2033, the Europe-branded generics industry may account for a market share of 25%.
The United States might increase its market share by 16.8% between 2023 and 2033.
Between 2023 and 2033, Germany may hold a market share of 2.9% in the branded generic industry.
Japan’s share of the branded generic business could reach 4.4% between 2023 and 2033.
Australia to expand at a CAGR of 7.5% in the branded generic business from 2023 to 2033.
During the forecast period, China branded generic business to expand at a CAGR of 10.4%.
From 2023 to 2033, the United Kingdom branded generic industry is likely to register at a 9.5% CAGR.
Through 2033, the Indian branded generic industry is expected to record a CAGR of 11.9%.
Unlock Exclusive Market Segments Insights: Buy to Discover Vital Trends, Drivers, and Challenges in this Industry:
https://www.futuremarketinsights.com/checkout/1260
Competitive Landscape:
Pharmacies have no legal restrictions on selling branded generic medications. As a result, many branded generic manufacturers have entered the market.
The branded generics business has had generally intense competition. Several pharmaceutical producers have teamed up to boost their growth graph. Moreover, top vendors in the market can make investments to diversify their product offerings.
Key Players:
Teva Pharmaceuticals Industries Ltd.
Abbott Laboratories
Novartis
Mylan
Pfizer
Recent Developments:
Big Acquisition:
In July 2021, multinational pharmaceutical company Lupin announced its acquisition of its Australian subsidiary, Southern Cross Pharma Pty Ltd (SCP), including all outstanding shares.
Product Launches:
Dr. Reddy’s Laboratories Ltd. introduced Invista in India in April 2020. This drug is the brand-name generic version of Sprycel (dasatinib), which is given to treat adult CML patients.
The generic version of Tracleer was released in the United States in June 2019 by Teva Pharmaceuticals Industries Ltd. and Hikma Pharmaceuticals PLC.
Branded Generics Market by Segmentation:
By Therapeutic Application:
Oncology
Cardiovascular Diseases
Diabetes
Neurology
Gastrointestinal Diseases
Dermatology Diseases
Analgesics and Anti-inflammatory
Others
By Drug Class:
Alkylating Agents
Antimetabolites
Hormones
Anti-Hypertensive
Lipid Lowering Drugs
Anti-Depressants
Anti-Psychotics
Anti-Epileptics
Others
By Formulation Type:
Oral
Parenteral
Topical
Others
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Explore Future Market Insights, Inc. Extensive Coverage in Healthcare Market Domain:
Super Generics Market Analysis: The market is estimated to reach the anticipated market value of US$ 413 billion by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
YouTube
