Branded Generics Market Size & Share | Industry Analysis 2028

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.

Strategic Insights

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

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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.