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. ...