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Branded Generics Market Services Grow at a 7.3% CAGR From – Mylan N.V, Novartis AG, Teva Pharmaceutical Industries Ltd

October 14th, 2021 Coherent Market Insights Releases

Overview

In comparison to premium medical drugs, branded generics have lower research and development costs. Companies who compete in the branded generic market devote a significant amount of resources to promoting the product and raising brand value.

The global branded generics market is projected to hit US$ 444.0 million by the end of 2027, from a valuation of US$ 247.0 million in 2019.

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Driver

During the forecast period, the branded generics market will benefit from increased affordability and product guidance. In order to sell an approved generic, the corporation with the NDA (New Drug Application) must contact the FDA. The NDA allows the firm to sell both the approved generic and the brand medication at the same time.

Opportunities

Market participants should concentrate on growing their businesses in developing markets. This is due to a rise in generic drug demand in these countries. As per the IBEF (India Brand Equity Foundation), India’s pharmaceutical market provides over 50% of global demand for multiple vaccines, 40% of generic demand in the United States, and 25% of all medication in the U.K.

Restraints

The market’s growth is also projected to be hampered by the misuse of REMS (Risk Evaluation and Mitigation Strategies) to postpone generic market entry. REMS is used by branded drug makers/drug research firms to deny generic manufacturers access to drug samples for bioequivalence testing and production. As a result, the commercial penetration of branded generic products is delayed.

Key Takeaways

The oral segment of the global branded generics market was worth US$ 134.8 million in 2018, and is projected to grow at a CAGR of 7.3 percent to US$ 258.9 million by 2027.

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Oral drugs are simple to prescribe, and patient compliance is higher for oral medications than with other routes of administration, owing to their simplicity. Sweeteners and colored coatings can also be used to make tablets and capsules more appealing. These factors are expected to help the segment expand.

In terms of value, the retail pharmacy segment dominated the global branded generics market in 2018, contributing about 45.4 percent market share, followed by hospital pharmacies and drug stores.

Patients find it convenient and time-saving to obtain their medications directly from retail pharmacies after presenting a prescription. Patients in Asia Pacific and Africa are most likely to buy their drugs from discount pharmacies. During the forecast period, these factors are expected to help the segment’s progress.

In terms of value, the Asia Pacific region segment dominated the global branded generics market in 2018, contributing about 32.3 percent of market share, led by Europe and North America.

Factors such as the region’s large patient population, rising healthcare expenses, and the emergence of a large number of generic suppliers that sell branded generics at lower prices are projected to boost the region’s growth over the forecast period.

Market Trends

To cut healthcare costs, some states in the U.S. are focusing on launching state-produced labelled generics. The California state government unveiled plans in January 2020 to launch its own brand of generic prescription drugs in order to cut healthcare costs.

The market’s major players are providing discounts on their branded generics. Eli Lilly and Company revealed in January 2020 that by mid-April 2020, it will sell half-price generic versions of its quick-acting Humalog Junior KwikPen insulin and Humalog Mix75/25 KwikPen, which features a mix of fast- and intermediate-acting insulin.

Regulations

Europe

  • Pharmaceutical products in Europe are regulated by the European Commission in consultation with the competent authorities of the Member States and the European Medicines Agency (EMEA)
  • The manufacturer or distributor of generic or multisource drugs in Europe must obtain Marketing Authorization Application (MAA) through one of three procedures as indicated below

Competitive Landscape

Key companies contributing in the global branded generics market are Teva Pharmaceutical Industries Ltd., Pfizer Inc., Mylan N.V, Aspen Pharmacare Holding Ltd., Valeant Pharmaceuticals International, Inc., Abbott Laboratories, Novartis AG., and Sun Pharmaceutical Industries Ltd.

Key Developments

Major market players are now looking to broaden their portfolios through mergers and acquisitions (M&A). Zentiva, a developer of branded generics and OTC drugs, announced in October 2019 that it had signed a definitive agreement to purchase Alvogen’s Central and Eastern European Business for an undisclosed amount.

Pfizer Inc. and Mylan N.V. reached a binding deal in July 2019 to merge Mylan with Upjohn, Pfizer’s off-patent marketed and generic existing drugs firm, to form a major multinational pharmaceutical corporation.

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Main points in Branded Generics Market Report Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Branded Generics Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Branded Generics Industry Impact

Chapter 2 Branded Generics Competition by Types, Applications, and Top Regions and Countries
2.1 Branded Generics (Volume and Value) by Type
2.3 Branded Generics (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Branded Generics Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Branded Generics Market Analysis
Chapter 6 East Asia Branded Generics Market Analysis
Chapter 7 Europe Branded Generics Market Analysis
Chapter 8 South Asia Branded Generics Market Analysis
Chapter 9 Southeast Asia Branded Generics Market Analysis
Chapter 10 Middle East Branded Generics Market Analysis
Chapter 11 Africa Branded Generics Market Analysis
Chapter 12 Oceania Branded Generics Market Analysis
Chapter 13 South America Branded Generics Market Analysis
Chapter 14 Company Profiles and Key Figures in Branded Generics Business
Chapter 15 Branded Generics Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology

continued………….

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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