Branded generics are the drugs which are biosimilars to the innovator products and marketed under different brand names. In other words, branded generics, sometimes also called as ‘value-added generics’ can either be a novel dosage form of an original patented drug or a generic drug with a definite trade name. Branded generics have taken an extensive industry move in recent years to generate the copy of innovator drugs. The branded generics provide a dynamic way to many innovator companies to keep their net profit high as many of them own the subsidiaries which are involved in the production of branded generics. Branded generics differ from ‘commodity generics’ which are pharmaceutical products, generally used as an alternative to innovator product after the expiry of the patent.
Branded Generics Market: Drivers and Restraints
The global branded generics market is expected to grow significantly as large number of pharmaceutical products are going to be off patent within the forecast period. Simple marketing approval procedures, opportunity to reduce government spending on healthcare, entry of new players, changing prescription practices, greater profit margin are some other factors which are anticipated to boost the global branded generics market. Whereas, huge competition from branded drugs and commodity generic products will pose the major challenge for the global branded generics market.
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Branded Generics Market: Segmentation
The global branded generics market is classified on the basis of product type, application, end use and geography.
Based on product type, the global branded generics market is segmented into the following:
- Value-Added Branded Generics
- Trade Named Branded Generics
Based on application, the global branded generics market is segmented into the following:
- Cardiovascular Drugs
- Anti-Cancer Drugs
- CNS Drugs
- Anti-Infective Drugs
Based on distribution channel type, the global branded generics market is segmented into the following:
- Hospital Pharmacy
- Pharmacy and Drug Stores
Branded Generics Market: Overview
Being a cost effective, generic drugs are getting market advantage over the branded drugs. US FDA reported that more than 70% of the prescribed drugs in 2014 were generic products. Expiry of the blockbuster patented drugs such as Gleevec, Namenda, Provigil, Crestor, Benicar etc. is anticipated to flourish the global branded generics market volume over the forecast period (2016-2026). Expanding number of geriatric and uninsured population demographics demands for the cost-effective healthcare products and services and branded generics offer a good opportunity to access the quality healthcare at low prices.
Branded Generics Market: Regional Overview
Geographically, the global branded generics market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America dominated the global market for branded generics in 2014 and expected to lead the market over the forecast period owing to increasing demand for cost-effective medicines. Solid competition exists in Canada for the supply of generic drugs for last 10 years. Europe stands as a next major market for branded generics as major players in generic market are targeting European market where patients cannot afford the expensive branded medicines.
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Branded Generics Market: Key Players
Some of the key players in global branded generics market include Teva Pharmaceutical Industries Ltd, Mylan N.V., Hospira Inc., Dr. Reddy’s Laboratories Ltd., Apotex Inc., GlaxoSmithKline Pharmaceuticals Limited, Valeant, Zydus Cadila, Sandoz, Lupin Pharmaceuticals, Inc. Par Pharmaceutical Companies, Inc., Sanofi, AstraZeneca etc.