Key Insights On The Branded Generics Market 2023 – Size, Driver, And Major Players
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Branded Generics Global Market Report 2023, the branded generics market is expected to show significant growth in the forecast period.
Key insights from the branded generics market forecast include:
- Market Size
The global branded generics market is expected to grow from $304.16 billion in 2022 to $329.98 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The branded generics market size is expected to grow to $464.58 billion in 2027 at a CAGR of 8.9%.
- Major Driver
The rising prevalence of chronic diseases will fuel the branded generics market’s growth pace. According to a research report published by the American Action Forum in September 2020, chronic disease prevalence and expenses are expected to rise in the United States. They are projected to rise further as disease prevalence among children and young people increases. Chronic disease is a severe healthcare issue since the escalating expense of chronic disease in the United States totals $3.7 trillion per year, or around 19.6% of the country’s GDP. As a result, an increase in the prevalence of chronic diseases is predicted to raise demand for branded generics over the projection period.
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- Key Trend
Strategic collaboration is an important trend in the branded generics business. Companies involved in branded generics are forming alliances with similar companies in order to pool resources and develop into new areas. Biocon Ltd., an India-based fully integrated biopharmaceutical business that develops cheap biosimilars, generic formulations, and complicated APIs, announced a cooperation with Tabuk Pharmaceuticals in December 2021. The collaboration will allow Biocon to expand into the MENA region, which now includes Jordan, Lebanon, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Iraq. This will aid in the development of a comprehensive global portfolio of goods, either directly or through strategic collaborations, to provide patients all over the world with access to low-cost treatments. Tabuk Pharmaceuticals will be in charge of marketing these pharmaceuticals as well as their registration, importation, and promotion in Saudi Arabia and other Middle Eastern countries. Tabuk Pharmaceuticals is a Saudi Arabian company that makes and sells branded and generic pharmaceuticals.
- Largest Region
North America was the largest region in the branded generics market in 2022.
- Major Players
Major players in the food diagnostics market are Pfizer Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Lupin, AstraZeneca, Apotex Inc., Zydus Cadila, Dr. Reddy’s Laboratories Ltd., Viatris, Inc., and Valeant Pharmaceuticals International, Inc.,
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Key Branded Generics Market Segments
The global branded generics market is segmented –
1) By Drug Class: Alkylating Agents, Antimetabolites, Hormones, Anti-hypertensive, Lipid Lowering Drugs, Anti-depressants, Anti-psychotics, Anti-Epileptics, Other Drugs
2) By Route of Administration: Topical, Oral, Parenteral, Other Routes of Administration
3) By Application: Oncology, Cardiovascular Diseases, Diabetes, Neurology, Gastrointestinal Diseases, Dermatology Diseases, Analgesics and Anti-inflammatory, Other Applications
The Branded Generics Global Market Report 2023 provides an in-depth analysis on the branded generics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the branded generics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Specialty Generics Global Market Report 2023
Generic Pharmaceuticals Global Market Report 2023
Generic Central Nervous System Drugs Global Market Report 2023
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