The branded generics market is expected to grow from US$ 235.86 billion in 2022 to US$ 414.99 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2022 to 2028.
Branded generics are generic drugs that have been given a proprietary market name. They may be marketed in a similar way as branded drugs. Branded generic drugs attach proprietary names to generic drug molecules. Some branded generics are specially made as novel dosage forms of off-patent drugs, filling in a dosage gap while offering consumers a name that is likely easier to remember than the true generic name. Branded generics are a small but profitable segment of the pharmaceutical market. Branded generics go through the same FDA approval process as other generics after branded drug patents expire.
According to a report released by VOXEU, with healthcare budgets worldwide under pressure, switching to branded generics seems a natural cost saver. Branded generics are cheaper alternatives to branded medicines, offering efficiency gains to any healthcare system. For instance, in 2016, US$ 253 billion was generated by generic medicines accounting for one-quarter of a trillion dollars. Additionally, US$ 1.6 trillion in healthcare savings in the same year accounted for in the US healthcare system evaluating a 10-year saving due to the availability of low-cost generics.
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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
| 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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The branded generics market is segmented based on therapeutic application, distribution channel, drug class, formulation type, and geography. By geography, the branded generics market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The branded generics market report offers insights and in-depth analysis of the market, emphasizing parameters such as market size, trends, technological advancements, and market dynamics, and the analysis of the competitive landscape of the globally leading market players.
The global branded generics market is majorly driven by the rising penetration of branded generics and increasing government initiatives for promoting branded generics. Additionally, encouraging utility of branded generics by healthcare providers and professionals is likely to emerge as a significant future trend in the market during the forecast period. However, poor clinical outcomes and adverse effects of generic medications in the global market are hampering the market growth.
Lucrative Regions in Branded Generics Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Rising Penetration of Branded Generics
According to a report released by VOXEU, with healthcare budgets worldwide under pressure, switching to branded generics seems a natural cost saver. Branded generics are cheaper alternatives to branded medicines, offering efficiency gains to any healthcare system. For instance, in 2016, US$ 253 billion was generated by generic medicines accounting for one-quarter of a healthcare industry.
Further, 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.
Therapeutic Application-Based Insights
Based on therapeutic application, the global branded generics market has been segmented into oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, analgesics and anti-inflammatory, and others. In 2022, the others held the largest share of the market. However, the oncology segment is expected to grow at the fastest CAGR from 2022 to 2028.
Branded Generics Market, by Therapeutic Application – 2022 and 2028
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Distribution Channel-Based Insights
Based on distribution channel, the branded generics market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. The retail pharmacies segment is likely to hold the largest share of the market in 2022. Moreover, the online pharmacies segment is anticipated to register the highest CAGR in the market during the forecast period.
Drug Class-Based Insights
Based on drug class, the branded generics market is categorized into alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptic, and others. The others segment is likely to hold the largest share of the market in 2022. However, the hormones segment is anticipated to register the highest CAGR in the market during the forecast period.
Formulation Type-Based Insights
Based on formulation type, the branded generics market is segmented into oral, parenteral, topical, and others. In 2022, the oral segment held the largest share of the market by formulation type. However, the parenteral segment is expected to grow at the fastest CAGR from 2022 to 2028.
Several companies adopt strategies such as product launches and approvals to expand their global footprints and product portfolios. Moreover, the branded generics market players focus on the partnership strategy to enlarge their clientele, allowing them to maintain their brand name globally. The market share is anticipated to flourish with market players' development of new innovative products. Mylan N.V., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc., Bausch Health Companies Inc., Lupin, Sanofi, AstraZeneca Plc., Dr.Reddy’s Laboratories, Par Pharmaceuticals, Inc., Sandoz International GmbH, Aspen Holdings, and Hetero are among the leading companies operating in the global branded generics market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Therapeutic Application, Distribution Channel, Drug Class, and Formulation Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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
Branded generics are generic drugs that have been given a proprietary market name. They may be marketed similarly to how branded drugs are. Branded generic drugs attach proprietary names to generic drug molecules. Some branded generics are specially made as novel dosage forms of off-patent drugs, filling in a dosage gap while offering consumers a name that is likely easier to remember than the true generic name. Branded generics are a small, but profitable segment of the pharmaceutical market. Branded generics go through the same FDA approval process as other generics after branded drug patents expire.
The factors that are driving and restraining factors that will affect the branded generics market in the coming years. Growth of the global branded generics market is majorly driven by rising penetration of branded generics and increasing government initiatives for promoting branded generics. Additionally, encouraging utility of branded generics by healthcare providers and professionals is likely to emerge as a significant future trend in the market during the forecast period. However, poorer clinical outcomes and adverse effects of generic medications hamper the branded generics market growth.
The branded generics market majorly consists of the players such as Mylan N.V., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc., Bausch Health Companies Inc., Lupin, Sanofi, AstraZeneca Plc., Dr.Reddy’s Laboratories, Par Pharmaceuticals, Inc., Sandoz International GmbH, Aspen Holdings, and Hetero amongst others.
The branded generics market, by therapeutical application, is bifurcated oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, analgesics and anti-inflammatory, and others. In 2022, the others segment held the largest share of the market, by therapeutic application. However, the oncology segment is expected to witness growth in its demand at a fastest CAGR during 2022 to 2028.
The List of Companies - Branded Generics Market
- MYLAN N.V.
- TEVA PHARMACEUTICAL INDUSTRIES LTD.
- GlaxoSmithKline plc
- Bausch Health (Valeant Pharmaceuticals)
- Sandoz International Gmbh
- Aspen Holdings
- Par Pharmaceuticals
- Lupin
- Sanofi
- AstraZeneca
- Dr. Reddy's Laboratories Inc.
- Hetero
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.
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