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How Will the Branded Generics Market Grow from 2024 to 2033?

In the past few years, there has been a significant growth in the size of the branded generics market. The market value is expected to increase from $335.98 billion in 2023 to $367.67 billion in 2024, with a compound annual growth rate (CAGR) of 9.4%. The surge during this period can be accredited to factors such as cost-effectiveness, patent terminations, market accessibility and expansion, governmental strategies and policies, as well as healthcare reforms.

The market size for branded generics is projected to increase swiftly in the upcoming years. By 2028, it is anticipated to reach $542.32 billion, exhibiting a compound annual growth rate (CAGR) of 10.2%. Factors like rising demand for generic biologics, an increase in chronic diseases, developing markets, and emphasis on biosimilars contribute to this expected growth in the forecast period. Prevailing trends for the same period consist of strategic alliances and collaborations, advancements in technology, emphasis on chronic illnesses, market amalgamation, and patient-oriented strategies.

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What Aspects Are Influencing the Growth Rate of the branded generics Market?

The rising number of chronic diseases is set to propel the growth of the branded generics market. Chronic diseases, while often incurable, can be managed and kept under control. The growth in chronic diseases can often be attributed to factors such as increased use of tobacco, lack of adequate nutrition, physical non-activity, heavy alcohol intake, and more. Branded generics have become the preferred choice of patients across the globe to handle chronic diseases, due to their affordability compared to conventional medicines. In the World Health Organization (WHO) 2022 Highlights report in September 2022, it’s mentioned that 41 million deaths – a whopping 74% of all deaths worldwide – are due to noncommunicable diseases (NCDs) or chronic diseases each year. Hence, the growing prevalence of chronic diseases is anticipated to elevate the demand for branded generics in the predicted period.

What Are the Critical Segments of the Branded Generics Market?

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

What Trends Are Redefining Consumer Expectations in the Branded Generics Market?

Trend 1:

Forming strategic alliances is a major trend in the branded generics market. Companies in this sector are teaming up with relevant businesses to capitalize on each other’s strengths and break into new markets. One such collaboration occurred in December 2021, when Biocon Ltd., a fully consolidated Indian biopharmaceutical corporation specializing in low-cost biosimilars, generic formulations and complex APIs, partnered with Tabuk Pharmaceuticals. This alliance paves the way for Biocon to make inroads into the MENA region, encompassing Jordan, Lebanon, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Iraq. It will aid in the development of a strong global product portfolio, either directly or via strategic partnerships, enabling patients worldwide to receive affordable treatments. Tabuk Pharmaceuticals, a Saudi Arabian firm that produces and sells branded and generic pharmaceutical goods, will hold the marketing rights for these drugs while also handling their registration, import, and advertisement in Saudi Arabia and other Middle Eastern countries.

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What Are the Leading Regions in the Branded Generics Market Expansion?

North America was the largest region in the branded generics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the branded generics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Branded Generics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the branded generics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Branded Generics Market Include

1. Branded Generics Market Executive Summary

2. Branded Generics Market Segments

3. Branded Generics Market Size And Template Market Growth Rate

4. Key Branded Generics Market Trends

5. Major Branded Generics Market Drivers

……

25. Key Mergers And Acquisitions In The Branded Generics Market

26. Top Branded Generics Companies

27. Branded Generics Market Opportunities And Strategies

28. Branded Generics Market, Conclusions And Recommendations

29. Appendix

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