Branded Generics Market size is expected to reach USD 375.95 billion by 2030

 Branded Generics Industry Overview

The global branded generics market size was estimated at USD 229.06 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2030.

 

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 are some of the primary industry growth drivers. The expiry of patent exclusivity of innovator drugs provides opportunities for generic manufacturers to introduce products at a reduced price. The low cost of generic drugs improves patients' affordability and helps reduce healthcare expenditure per capita. For instance, as the U.S. patent exclusivity period of Bristol-Myers Squibb Company proprietary Sprycel (Dasatinib) ended in 2020, generic companies such as Apotex and Dr. Reddy's Laboratories have filed ANDA for the launch of generic versions of the product. 

 

Gather more insights about the market drivers, restrains and growth of the Global Branded Generics Market

 

Moreover, the high frequency of ANDA approvals and the launch of generic products is another crucial factor supporting market growth. According to the FDA’s annual report, in 2021, FDA approved 93 first generics, while the number was 72 in 2020. However, it can be observed that the number of ANDA approvals decreased from 1,014 in 2019 to 948 in 2020, and further decreased to 776 in 2021. Such a decrease in the trend of ANDA approvals for generic drugs could impede industry growth. 

 

The market has been moderately impacted by the COVID-19 pandemic. During this period, a slowdown and disruption in the supply chain of pharmaceuticals was observed, due to the strategies designed to control the spread of the pandemic. In addition, regulatory operations were also affected, such as the authorization and the Health Technology Assessment process. Decisions on reimbursements have been de-prioritized. It also affected drug prescription and uptake rate moderately. 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports

  • Erythropoietin Drugs Market: The global erythropoietin drugs market size was valued at USD 6.87 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 1.5% from 2023 to 2030.
  • Inflammatory Bowel Disease Treatment Market: The global inflammatory bowel disease treatment market size was valued at USD 20.33 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2023 to 2030. 

 

Key Companies Profile

Some of the key players in the global branded generics market include:

  • Teva Pharmaceutical Industries Ltd.
  • Lupin
  • Sanofi
  • Sun Pharmaceutical Industries, Ltd.
  • Reddy's Laboratories Ltd.
  • Endo International plc
  • GlaxoSmithKline plc
  • Pfizer, Inc.
  • Apotex, Inc.
  • Viatris, Inc.

 

Order a free sample PDF of Branded Generics Market Intelligence Study, published by Grand View Research.

 

 

 

 

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