The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Branded Generics Global Market Report 2024, the branded generics market is expected to show promising growth in the forecast period.

The branded generics market has witnessed remarkable growth in recent years, driven by factors such as affordability, chronic disease prevalence, and strategic partnerships. This blog explores the market’s trajectory, future outlook, key trends, and notable developments shaping the landscape of branded generics.

Market Overview

• Current Market Size:
  • Surged from $335.98 billion in 2023 to $367.67 billion in 2024.
  • Compound annual growth rate (CAGR) of 9.4%, indicating robust expansion.
  • Driven by cost savings, patent expiries, and government policies promoting accessibility.

Future Projections

• Expected Growth:
  • Projected to reach $542.32 billion by 2028.
  • Forecasted CAGR of 10.2%, reflecting rapid growth fueled by various factors.

Chronic Disease Epidemic

• Rising Prevalence of Chronic Diseases:
  • Increasing incidence due to lifestyle factors like poor nutrition and physical inactivity.
  • Customers prefer branded generics for chronic disease management due to affordability.
  • Example: Noncommunicable diseases (NCDs) account for 74% of global deaths annually.

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Notable Companies

• Key Players:
  • Pfizer Inc., Sanofi SA, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., and others.
  • Driving market growth through innovation and strategic alliances.

Strategic Partnerships

• Driving Market Access and Growth:
  • Key trend in the branded generics market.
  • Companies forming partnerships to expand into new markets and leverage resources.
  • Example: Biocon Ltd. partnering with Tabuk Pharmaceuticals to enter the MENA region.

Strategic Acquisitions

• Expanding Product Portfolios:
  • Reddy’s Laboratories’ acquisition of branded and generic injectable products from Eton Pharmaceuticals, Inc.
  • Aims to enhance product offerings and accelerate market presence in key segments.

Market Segmentation

• Drug Classes:
  • Alkylating Agents, Antimetabolites, Hormones, Anti-hypertensive, and more.
• Routes of Administration:
  • Topical, Oral, Parenteral, and Other Routes.
• Applications:
  • Oncology, Cardiovascular Diseases, Diabetes, Neurology, and more.

Regional Insights

• North America:
  • Largest region in the branded generics market in 2023.
  • Driven by established healthcare infrastructure and market demand.
• Asia-Pacific:
  • Expected to be the fastest-growing region.
  • Rising healthcare expenditure and expanding market access drive growth.

Emerging Trends

• Technological Advancements:
  • Continued innovation in drug delivery systems and formulations.
• Focus on Chronic Diseases:
  • Increasing emphasis on developing treatments for chronic conditions.
• Market Consolidation:
  • Growing consolidation through mergers and acquisitions to enhance market position.
• Patient-Centric Approach:
  • Shift towards personalized medicine and patient-focused healthcare solutions.

The branded generics market is on a trajectory of significant growth, driven by factors such as chronic disease prevalence, strategic partnerships, and market expansion initiatives. As the market continues to evolve, stakeholders must adapt to emerging trends and regulatory landscapes to capitalize on the abundant opportunities within this dynamic sector.

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