The global branded generics market is projected to reach US$ 414.99 billion by 2028 from US$ 235.86 billion in 2022.
Rising penetration of branded generics and increasing government initiatives for promoting branded generics drive the growth of branded generics market. Encouraging utility of branded generics by healthcare providers and professionals acts as a future trend in the branded generics market.
The Association for Accessible Medicines report states that nearly 3.9 billion generic prescriptions were dispensed in 2016. Therefore, branded generics present a viable opportunity for potential growth for big pharma players. According to the published report by HSRII, the US is the largest pharmaceutical market in the world (US$ 325 billion), accounting for one-third of the global pharmaceutical market, with generics accounting for 84% in terms of sales volume and 28% in terms of sales value.
Furthermore, branded generics utilization has increased among the population due to savings provided by the healthcare system and the ability to invest in tomorrow's new medicines. For instance, nearly 3.9 billion prescriptions dispensed in the US are for generics.
Moreover, on average, in 2016, the use of generic medicines saved each state US$ 4.9 billion compared to the price of relevant branded medicines. This further means that Medicaid savings averaged US$ 744 million, and state Medicaid savings averaged US$ 1.5 billion per state. Such factors accelerate the demand for branded generics, fueling the overall market growth during the forecast period.
Additionally, the rise in government initiatives for promoting branded generics further is accelerating the adoption of branded generics, ultimately stimulating the overall market growth. A Scientific Electronic Library Online (SciELO) report states that promoting branded generics constitutes a core instrument for countries' national pharmaceutical policies, ultimately reducing drug expenditure with expanding healthcare access.
For example, to make quality generic medicines available at affordable prices, Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) was launched by the Department of Pharmaceuticals, Ministry of Chemicals & Fertilizers, Government of India in November 2008. The scheme focused on dedicated outlets known as Janaushadhi Kendras, offering generic medicines at affordable prices. Till 2021, 8,012 Janaushadhi Kendras were functional across the country.
Moreover, a Food and Drug Administration (FDA) report states that as the FDA approves more branded generics, it results in a drop in cost. Generally, multiple generic drugs for the same product create marketplace competition. For example, a single generic competitor results in price reductions of up to 30%, while five competing generics are associated with a price drop of nearly 85%.
Market Opportunities of Global Branded Generics Market
The opportunity for global branded generics market is product differentiation. The pharmaceutical industry is one of the most intensively regulated sectors, and as a result of these challenges, returns on R&D investment in the pharmaceutical industry have decreased. One feasible alternative for addressing such challenges is adopting strategies such as product differentiation to reduce development costs and maximize profits.
Product differentiation deals with developing innovative products based on an existing product by creating better features, performance, or efficacy. Product differentiation paves the way for strengthening product pipeline and lifecycle management. As generic drugs contain the same active pharmaceutical ingredients as the brand-name product, differentiation in the color, shape, taste, inactive ingredients, preservatives, and packaging result in high demand for branded generics globally.
Therefore, differentiation in the final product is expected to offer lucrative growth opportunities for the competitive players in the branded generics market.
Additionally, prominent players in the market are focusing on offering low-cost branded generics to remain competitive in the market. This can be achieved by strategically sourcing raw materials from emerging economies and partnering with suppliers. The above factors support the overall branded generics market growth during the forecast period.
The Pan-Canadian Pharmaceutical Alliance, Canadian Generic Pharmaceutical Association, Centers for Disease Control and Prevention, US Food and Drug Administration, International Finance Corporation, and Indian Brand Equity Foundation are among the primary and secondary sources referred to while preparing the report on the global branded generics market.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Branded Generics Market - Market Landscape 4.1 Overview 4.2 PEST Analysis 4.2.1 North America PEST Analysis 4.2.2 Europe PEST Analysis 4.2.3 Asia Pacific PEST Analysis 4.2.4 Middle East And Africa PEST Analysis 4.2.5 South And Central America PEST Analysis 4.3 Experts Opinion
5. Branded Generics Market - Key Market Dynamics 5.1 Market Drivers 5.1.1 Rising Penetration of Branded Generics 5.1.2 Increasing Government Initiatives for Promoting Branded Generics 5.2 Market Restraints 5.2.1 Switching Brands, Poorer Clinical Outcomes and Adverse Effects of Generic Medications 5.3 Market Opportunities 5.3.1 Product Differentiation 5.4 Future Trends 5.4.1 Encouraging Utility of Branded Generics by Healthcare Providers and Professionals 5.5 Impact Analysis
6. Branded Generics Market - Global Analysis 6.1 Global Branded Generics Market Revenue Forecast and Analysis 6.2 Global Branded Generics Market, By Geography - Forecast and Analysis 6.3 Market Positioning of Key Players 6.4 Global Branded Generics Market - Market Potential Analysis, By Region 6.5 Comparative Company Analysis 6.6 Growth Strategy Analysis 6.7 Performance of Key Players 6.7.1.1 Teva Pharmaceuticals Industries Ltd. 6.7.1.2 Sandoz International GmbH 6.8 Market Share Analysis of Branded Generics Market
7. Global Branded Generics Market Revenue and Forecast To 2028 - by Therapeutic Application 7.1 Overview 7.2 By Therapeutic Application: Market Revenue and Forecast Analysis (US$ Billion) 7.3 Oncology 7.3.1 Overview 7.3.2 Oncology Market Revenue and Forecast to 2028 (US$ Billion) 7.4 Cardiovascular Diseases 7.4.1 Overview 7.4.2 Cardiovascular Diseases Market Revenue and Forecast to 2028 (US$ Billion) 7.5 Diabetes 7.5.1 Overview 7.5.2 Diabetes Market Revenue and Forecast to 2028 (US$ Billion) 7.6 Neurology 7.6.1 Overview 7.6.2 Neurology Market Revenue and Forecast to 2028 (US$ Billion) 7.7 Gastrointestinal Diseases 7.7.1 Overview 7.7.2 Gastrointestinal Diseases Market Revenue and Forecast to 2028 (US$ Billion) 7.8 Dermatology Diseases 7.8.1 Overview 7.8.2 Dermatology Diseases Market Revenue and Forecast to 2028 (US$ Billion) 7.9 Analgesics and Anti-Inflammatory 7.9.1 Overview 7.9.2 Analgesics and Anti-Inflammatory Market Revenue and Forecast to 2028 (US$ Billion) 7.10 Others 7.10.1 Overview 7.10.2 Others Market Revenue and Forecast to 2028 (US$ Billion)
8. Branded Generics Market Analysis and Forecast to 2028 by Distribution Channel 8.1 Branded Generics Market Revenue Share, by Distribution Channel (2022 and 2028) 8.2 Hospital Pharmacies 8.2.1 Overview 8.2.2 Hospital Pharmacies: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 8.3 Retail Pharmacies 8.3.1 Overview 8.3.2 Retail Pharmacies: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 8.4 Online Pharmacies 8.4.1 Overview 8.4.2 Online Pharmacies: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 8.5 Drug Stores 8.5.1 Overview 8.5.2 Drug Stores: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion)
9. Branded Generics Market Analysis and Forecast to 2028 by Drug Class 9.1 Branded Generics Market Revenue Share, by Drug Class (2022 and 2028) 9.2 Alkylating Agents 9.2.1 Overview 9.2.2 Alkylating Agents: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.3 Antimetabolites 9.3.1 Overview 9.3.2 Antimetabolites: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.4 Hormones 9.4.1 Overview 9.4.2 Hormones: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.5 Anti-hypertensive 9.5.1 Overview 9.5.2 Anti-hypertensive: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.6 Lipid Lowering Drugs 9.6.1 Overview 9.6.2 Lipid Lowering Drugs: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.7 Anti-Depressants 9.7.1 Overview 9.7.2 Anti-Depressants: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.8 Anti-psychotics 9.8.1 Overview 9.8.2 Anti-psychotics: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.9 Anti-epileptic 9.9.1 Overview 9.9.2 Anti-epileptic: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion) 9.10 Others 9.10.1 Overview 9.10.2 Others: Branded Generics Market - Revenue and Forecast to 2028 (US$ Billion)
10. Global Branded Generics Market Analysis and Forecast to 2028 - by Formulation Type 10.1 Overview 10.2 Branded Generics Market Revenue Share, by Formulation Type (2022 and 2028) 10.3 Oral 10.3.1 Overview 10.3.2 Oral Market Revenue and Forecast to 2028 (US$ Billion) 10.4 Parenteral 10.4.1 Overview 10.4.2 Parenteral Market Revenue and Forecast to 2028 (US$ Billion) 10.5 Topical 10.5.1 Overview 10.5.2 Topical Market Revenue and Forecast to 2028 (US$ Billion) 10.6 Others 10.6.1 Overview 10.6.2 Others Market Revenue and Forecast to 2028 (US$ Billion)
11. Branded Generics Market Revenue and Forecasts to 2028 Geographical Analysis
12. Impact Of COVID-19 Pandemic on Branded Generics Market 12.1 North America: Impact Assessment of COVID-19 Pandemic 12.2 Europe: Impact Assessment of COVID-19 Pandemic 12.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic 12.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic 12.5 SAM: Impact Assessment of COVID-19 Pandemic
13. Branded Generics Market - Industry Landscape 13.1 Overview 13.2 Growth Strategies Done by the Companies in the Market (%) 13.3 Organic Developments 13.3.1 Overview 13.4 Inorganic Developments 13.4.1 Overview
14. Company Profiles 14.1 MYLAN N.V. 14.1.1 Key Facts 14.1.2 Business Description 14.1.3 Products and Services 14.1.4 Financial Overview 14.1.5 SWOT Analysis 14.1.6 Key Developments 14.2 TEVA PHARMACEUTICAL INDUSTRIES LTD 14.3 GlaxoSmithKline plc. 14.4 Bausch Health Companies Inc. 14.5 Lupin 14.6 Sanofi 14.7 ASTRAZENECA PLC. 14.8 Dr. Reddy's Laboratories 14.9 Par Pharmaceuticals, INC 14.10 Sandoz International GMBH 14.11 Aspen Holdings 14.12 Hetero
