Branded Generics Market Overview and Forecast by 2031
The branded generics market size is projected to reach US$ 570.40 billion by 2031 from US$ 258.85 billion in 2023. The market is expected to register a CAGR of 10.38% during 2023–2031. The rising utilization of branded generics by healthcare providers and professionals is likely to remain a key trend in the market.
Branded Generics Market Analysis
Branded generics are sold under a brand name without a patent. They can be developed by a generic drug firm or the original manufacturer and marketed after the original drug's patent expires. An Abbreviated New Drug Application (ANDA) is submitted for regulatory approval, and it must be therapeutically equivalent to the original drug. Their launch benefits brand name companies as they can be produced with existing expertise, do not require separate FDA approval and can be launched before the patent expires without legal obstacles. Rising penetration of branded generics in the market and spurring government initiatives for the development of branded generics are expected to favor the growth of the market.
Branded Generics Market Overview
Major companies have been implementing various organic as well as inorganic strategies which have promoted its growth in the market. For instance, in April 2021, WEX Pharmaceuticals Inc. announced that two clinical trials on tetrodotoxin (TTX) had been published in a special issue of the Toxins Journal. The safety study of cardiovascular applications, "Safety, Tolerability, Pharmacokinetics, and Concentration-QTc Analysis of Tetrodotoxin: A Randomized, Dose Escalation Study in Healthy Adults," was included in the special edition of the Toxins Journal. The Asia Pacific market is driven by rising investments from international players in China and India, improving government support for the development of branded generics in countries such as China, growing usage of branded generics, and advancing healthcare infrastructure in the region. Therefore, the region holds vast potential for the branded generics market players to grow during the forecast period.
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Branded Generics Market: Strategic Insights
Market Size Value in US$ 235.86 Billion in 2022 Market Size Value by US$ 414.99 Billion by 2028 Growth rate CAGR of 9.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Branded Generics Market: Strategic Insights
![branded-generics-market](https://www.theinsightpartners.com/assets/rdimages/branded-generics-market-img1.png)
Market Size Value in | US$ 235.86 Billion in 2022 |
Market Size Value by | US$ 414.99 Billion by 2028 |
Growth rate | CAGR of 9.9% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
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Branded Generics Market Drivers and Opportunities
Rising Penetration of Branded Generics to Favor Market
As per the report released by VOXEU, branded generics are cheaper alternatives to other drugs. The utilization of branded generics has increased among the population due to cost savings provided by the healthcare system and the ability to make investments in tomorrow's new medicines. According to a report published by the International Generic and Biosimilar Medicine Association (IGBA) in May 2021, generics account for 60-80% of all medicine volume sales in major global markets, with even higher levels in some countries (e.g., more than 90% in the US, over 80% in Australia, more than 90% in India, and ~ 85% in Jordan). The industry's ability to maintain cost-effective prices, combined with scale, has allowed the industry to expand the reach and access of various therapies worldwide significantly. For example, within a year of the launch of generic antivirals for hepatitis C, the number of people who started treatment increased by 50%. Therefore, expanding the penetration of generics is the major driver of global branded generics' market share.
Proclivity Towards Personalized Medicine Brings Future Opportunities
Precision medicine is advancing healthcare by tailoring treatment to each person's unique genetic makeup. This approach, also known as individualized medicine or genomic medicine, uses genetics and genomics to provide better disease prevention, more accurate diagnoses, safer drug prescriptions, and more effective treatments for various health conditions. Branded generics offer the same pharmacological effects and are cost-effective. These advantages of branded generics make them a better option for personalized treatments. For instance, according to an article published in the American Society for Clinical Pharmacology & Therapeutics (ASCPT) in 2023, a study comparing the effectiveness of generic clopidogrel and its brand-name counterpart for treating patients with acute myocardial infarction (AMI) found that the generic version was equally effective as the brand-name medication in terms of cardiovascular and bleeding outcomes. This signifies that the utilization of generic drugs in personalized treatment has a positive impact, and the personalized medicine approach is likely to bring lucrative opportunities for the branded generic market.
Branded Generics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Branded Generics market analysis are therapeutic application, drug class, formulation type, and distribution channel.
- Based on therapeutic application, the branded generics market is segmented into oncology, cardiovascular diseases, gastrointestinal diseases, diabetes, neurology, dermatology diseases, analgesics & anti-inflammatory, and others. The others segment held the largest market share in 2023.
- By drug class, the market is segmented into antimetabolites, hormones, antihypertensive, alkylating agents, lipid-lowering drugs, antidepressants, antipsychotics, antiepileptics, and others. The others segment held the largest share of the market in 2023.
- Based on formulation type, the branded generics market is segmented into oral, parenteral, topical, and others. The oral segment held the largest market share in 2023.
- In terms of distribution channels, the market is categorized into hospitals, retail pharmacies, online pharmacies, and drug stores. The retail pharmacies segment held a significant share of the market in 2023.
Branded Generics Market Share Analysis by Geography
The geographic scope of the Branded Generics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. The generic drug utility has increased the share of pharmaceutical spending. According to an article published in the National Library of Medicine (NLM), over 90 % of pharmaceutical drug prescriptions in the US are currently dispensed as generic drugs. As per the report published by the Food and Drug Administration (FDA) in 2020, First generics are essential to public health; 72 first generic drugs received FDA approval in 2020. In addition, the FDA estimated that branded generic drugs have helped the healthcare system save US$ 2.2 trillion in the past decade. Due to rising utilization of branded generics in the region, North America held the largest share in 2023. Asia Pacific is projected to register the highest CAGR in the coming years.
Branded Generics Market Report Scope
Branded Generics Market News and Recent Developments
The Branded Generics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes essential corporate publications, association data, and databases. A few of the developments in the Branded Generics market are listed below:
- Novartis’Sandoz launched a generic version of AbbVie’s Combigan, a combo eye drop used to treat elevated eye pressure in the U.S. As the most-dispensed branded combo glaucoma medication, the originator reeled in $373 million in U.S. sales in 2021. With the launch, the company is expanding its eye drug offerings. (Source: Sandoz, Company Website, April 2022)
- GSK agreed to acquire Sierra Oncology, a California-based, late-stage biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer, for US$ 55 per share of common stock in cash, representing an approximate total equity value of US$ 1.9 billion (£1.5 billion). (Source: GlaxoSmithKline plc., Press Release, April 2022)
Branded Generics Market Report Coverage and Deliverables
The “Branded Generics Market Size and Forecast (2021–2031)” report provides a comprehensive breakdown of the market covering the areas:
- Branded Generics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Branded Generics market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Branded Generics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Branded Generics market
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Therapeutic Application, Distribution Channel, Drug Class, and Formulation Type
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the branded generics market in 2023.
Factors such as the rising penetration of branded generics in the market and spurring government initiatives for the development of branded generics are driving the branded generics market growth.
The rising utilization of branded generics by healthcare providers and professionals is a future trend in the market.
Hetero, Aspen Holdings, Sandoz International GMBH, Par Pharmaceuticals, INC, Dr. Reddy's Laboratories, AstraZeneca PLC, Sanofi, Lupin, Bausch Health Companies Inc., GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd, Mylan N.V are some leading players operating in the branded generics market.
The branded generics market is estimated to reach US$ 934.57 million by 2031.
The branded generics market is anticipated to grow at a CAGR of 11.20% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.