Branded Generics Market Size, Share & Trends Analysis Report By Drug Class, By Application, By Route Of Administration, By Distribution Channel)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030
The global Branded Generics market size was estimated at USD 229.09 billion in 2021 and is expected to surpass around USD 375.97 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 5.9% during the forecast period 2022 to 2030.
The rising prevalence of chronic diseases, increasing penetration of branded generic drugs, increasing government initiatives to promote generic products, and patent expiry of major drugs are some of the primary industry growth drivers. The expiry of patent exclusivity of innovator drugs provides opportunities for generic manufacturers to introduce products at a reduced price. The low cost of generic drugs improves patients' affordability and helps reduce healthcare expenditure per capita. For instance, as the U.S. patent exclusivity period of Bristol-Myers Squibb Company proprietary Sprycel (Dasatinib) ended in 2020, generic companies such as Apotex and Dr. Reddy's Laboratories have filed ANDA for the launch of generic versions of the product.
Moreover, the high frequency of ANDA approvals and the launch of generic products is another crucial factor supporting market growth. According to the FDA’s annual report, in 2021, FDA approved 93 first generics, while the number was 72 in 2020. However, it can be observed that the number of ANDA approvals decreased from 1,014 in 2019 to 948 in 2020, and further decreased to 776 in 2021. Such a decrease in the trend of ANDA approvals for generic drugs could impede industry growth.
The market has been moderately impacted by the COVID-19 pandemic. During this period, a slowdown and disruption in the supply chain of pharmaceuticals was observed, due to the strategies designed to control the spread of the pandemic. In addition, regulatory operations were also affected, such as the authorization and the Health Technology Assessment process. Decisions on reimbursements have been de-prioritized. It also affected drug prescription and uptake rate moderately.
Report Scope of the Branded Generics Market
US$ 375.97 Billion by 2030
CAGR of 5.9% from 2022 to 2030
Fastest Growing Market
2022 to 2030
Drug class, application, route of administration, distribution channel and Region,
Teva Pharmaceutical Industries Ltd.; Lupin; Sanofi; Sun Pharmaceutical Industries, Ltd.; Dr. Reddy's Laboratories Ltd.; Endo International plc; GlaxoSmithKline plc; Pfizer Inc.; Apotex, Inc.; Viatris, Inc.
For instance, in the U.K., according to the NHS, approximately 20 million antidepressant medications were prescribed in March 2021; in January 2021, the number was around 20.5 million. However, the impact of COVID-19 reduced significantly by the end of 2020 in most countries. Whereas in some countries affected by the third wave of COVID-19, the effect lasted until the third quarter of 2021.
The growing burden of non-infectious & infectious diseases and the increasing geriatric population, which is more susceptible to chronic diseases, such as hypertension, diabetes, and obesity, are anticipated to positively impact the market growth. There were 537 million patients suffering from diabetes in 2021 globally. The prevalence rate of diabetes is growing rapidly in low- and middle-income countries. According to the International Diabetes Federation data for 2021, approximately 643 million people will be suffering from diabetes by 2030 and 783 million by 2045.
Companies are introducing novel products to strengthen their portfolio. For instance, in April 2020, Dr. Reddy's Laboratories Ltd. introduced Invista in India. This product is the branded generic version of Sprycel (dasatinib) indicated for the treatment of adult patients with Chronic Myeloid Leukemia (CML).
Drug Class Insights
The anti-hypertensive segment dominated the marketspace in 2021 with a revenue share of 15.68%, due to the rising ANDA approvals and product launches over the past few years. For instance, in June 2019, Teva Pharmaceuticals Industries Ltd. and Hikma Pharmaceuticals PLC introduced the generic version of Tracleer in the U.S.
The hormones segment is anticipated to expand at a high growth rate through the projection period, due to rising investments to develop value-added or complex generics. An increasingly sedentary lifestyle is driving the prevalence of various metabolic disorders. Hormonal imbalance is a growing concern in a majority of the countries. These disorders include thyroid and sex hormone imbalance.
The oncology segment is projected to advance at the fastest CAGR of 6.3% by 2030, due to the patent expiry of key drugs in this area. The increasing disease burden may also contribute to market growth. According to WCRF International, in 2020, there were an estimated 18.4 million cancer cases globally, of which 8.8 million cases were among women and 9.4 million cases were among men.
The gastrointestinal diseases segment is projected to advance at a moderate CAGR during the forecast period, due to the growing demand for related products. An NCBI article suggests that around 113 million prescription proton pump inhibitors were sold globally in 2020.
Route of Administration Insights
The oral segment accounted for the largest revenue share of 59.26% in 2021 in the branded generics market, due to several advantages of oral dosage over other forms, such as ease of administration and no nursing requirements, thus leading to higher patient acceptability and compliance.
On the other hand, the parenteral segment is expected to advance at the fastest CAGR of 6.10% during the forecast period. An increase in the prevalence of target diseases, such as cancer, hepatitis C, multiple sclerosis, and others, has resulted in the high demand for generic injectables. This segment covers chemotherapy agents, small molecule antimicrobials, insulin, and peptide hormones, among others.
Distribution Channel Insights
The retail pharmacy distribution channel segment held the highest share of 58.76% in the market in 2021. This can be attributed to the growing burden of chronic diseases in the general population, and the various discounts offered by retail pharmacies. The market has witnessed consolidation in retail pharmacy chains in the U.S.
On the other hand, the hospital pharmacies segment is expected to show moderate growth during the forecast period. Injectable drugs account for a significant proportion of hospital pharmacy sales.
North America accounted for a revenue share of 19.84% in the global market in 2021 and is expected to advance at a steady CAGR during the forecast period. Moderately high penetration of branded generic drugs and the growing disease burden and geriatric population in the region are among the factors driving growth.
On the other hand, the Asia Pacific market is expected to progress at the highest CAGR of 6.5% during the projection years. The increasing penetration of products in countries such as Japan and India is expected to be a major growth driver. In addition, countries in this region are focusing on the development of their manufacturing hubs to tackle the shortage of life-saving medicines, thus addressing the unmet needs. In countries such as India, doctors prescribe drugs using brand names instead of INN and hence there is a higher demand for branded generics in this region.
Some of the prominent players in the Branded Generics Market include:
- Teva Pharmaceutical Industries Ltd.
- Sun Pharmaceutical Industries, Ltd.
- Dr. Reddy's Laboratories Ltd.
- Endo International plc
- GlaxoSmithKline plc
- Pfizer, Inc.
- Apotex, Inc.
- Viatris, Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Branded Generics market
- Branded Generics Drug Class
- Alkylating Agents
- Lipid Lowering Drugs
- Branded Generics Application
- Cardiovascular Diseases
- Neurological Diseases
- Gastrointestinal Diseases
- Dermatological Diseases
- Acute And Chronic Pain
- Branded Generics Route of Administration
- Branded Generics Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Branded Generics Market Study:
- Growth of Branded Generics in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Branded Generics and How to Navigate
- Key Product Innovations and Regulatory Climate
- Branded Generics Consumption Analysis
- Branded Generics Production Analysis
- Branded Generics and Management