Branded Generics Market to be dominated by Anti – Hypertensive Drugs through 2028
Increasing penetration of branded generic drugs is expected to drive the Global Branded Generics Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Branded Generics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Branded Generics Market has valued at USD 230.02 Billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 6.25% through 2028. The market for Branded Generics devices has witnessed consistent growth over the forecast period due to the Rising prevalence of chronic diseases, increasing penetration of branded generic drugs, increasing government initiatives to promote generic products and patent expiry of major drugs. The expiry of patent exclusivity of innovator drugs provides opportunities to generic manufacturers to introduce products at a reduced price. The low cost of generic drugs increases patients' affordability and helps reduce healthcare expenditure per capita. Moreover, high ANDA approvals and the launch of generic products is another crucial factor supporting market growth. The growing burden of non-infectious & infectious diseases and the growing geriatric population, which is more susceptible to chronic diseases, such as hypertension, diabetes, and obesity, is anticipated to positively impact market growth. The prevalence rate of diabetes is growing rapidly in low- and middle-income countries. An increasingly sedentary lifestyle has led to an increase in the prevalence of metabolic disorders. These disorders include thyroid and sexual hormone imbalance which will further drive the growth of the market during the forecast period.
Also, Regulatory Hurdles and Intellectual Property Issues can hamper the growth of Global Branded Generics Market. Similarly, Changing Healthcare Policies can restrain the growth of Global Branded Generics Market. Additionally, Supply Chain Disruptions will further restrict the growth of Global Branded Generics Market.
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The Global Branded Generics Market is segmented into Drug Class, Application, End user and Region.
Based on Application, Global Branded Generics market is segmented into Oncology, Cardiovascular Diseases, Neurological Diseases, Acute & Chronic Pain, Gastrointestinal Diseases, Dermatological Diseases, and Others. The Oncology segment accounted for the largest revenue share in 2022 and is expected to exhibit a rapid CAGR over the forecast period. This can be attributed to the wing to the essential medications’ patent expiring and Growing illness burden. Players in the market can focus on expanding their business in emerging markets. This is owing to increasing demand for generic drugs in these markets.
Major companies operating in Global Branded Generics
Market are:
- Teva Pharmaceutical Industries
Ltd.
- Lupin Pharmaceuticals Inc.
- Sanofi-Aventis.
- Sun Pharmaceutical Industries
Inc.
- Dr Reddy's Laboratories Inc.
- Endo International PLC.
- GlaxoSmithKline LLC.
- Pfizer Inc.
- Viatris Inc.
- Apotex Inc.
In July 2021, Lupin, a prominent worldwide pharmaceutical company with a wholly owned subsidiary in Australia, said it had signed a legally binding agreement to acquire all of the outstanding shares of Southern Cross Pharma Pty Ltd (SCP) from SCP.
In April 2020, Invista was launched in India by Dr. Reddy’s Laboratories Ltd. This medication is the branded generic equivalent of Sprycel (dasatinib), prescribed for treating adult CML patients.
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“The North America region is expected to witness significant growth of Global Branded Generics market due Moderately high penetration of branded generic drugs and the growing disease burden and geriatric population are among the factors driving growth. In addition, countries in this region are focusing on the development of their manufacturing hubs to tackle the shortage of life-saving medicines, addressing the unmet needs. Furthermore, the presence of advanced healthcare facilities will also accelerate the market’s development rate in this area. Growth in the number of product launches would help the industry flourish during the forecast period. Dermatology company focused on identifying, developing, and commercializing branded and generic topical drug products for the treatment of skin diseases is the major factor driving the growth of the global Branded Generics Market during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Branded Generics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Drug Class (Alkylating Agents, Antimetabolites, Hormones, Anti – Hypertensive, Lipid Lowering Drugs, Antidepressants, Antipsychotics, Antiepileptics, Others), By Application (Oncology, Cardiovascular Diseases, Neurological Diseases, Acute & Chronic Pain, Gastrointestinal Diseases, Dermatological Diseases, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By Region and Competition”, has evaluated the future growth potential of Global Branded Generics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Branded Generics Market.
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