Branded Generics Market is accounted for US$ 444.0 Million at a 7.3% CAGR by 2027 | Finds, Coherent Market Insights
Branded generics are referred as generic drugs that require low research or development costs, in comparison to the branded prescription products. Moreover, key players operating in branded generic business are focused on investing majorly in marketing the product and to create brand awareness.
The global branded generics market is estimated to be valued at US$ 247.0 Mn, in terms of value in 2019 and is expected to reach US$ 444.0 Mn by the end of 2027.
Global Branded Generics Market: Drivers
The market growth is attributed to increasing affordability and guidelines of products. For instance, the company with new drug application (NDA) must notify the FDA, in order to market an authorized generic. The company with the NDA is allowed to market both the authorized generic and the brand drug simultaneously.
*The Download PDF brochure only consist of Table of Content, Research Framework, and Research Methodology.
Request PDF Research Report Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/3391
Global Branded Generics Market: Opportunities
Major market players are focusing on expanding their business in emerging markets. This is attributed to increasing demand for generic drugs in these markets. For instance, according to India Brand Equity Foundation, the pharmaceutical sector in India supplies over 50% of global demand for various vaccines, 40% of generic demand in the U.S., and 25% of all medicine in U.K.
Global Branded Generics Market: Restraints
However, misapplication of risk evaluation and mitigation strategies (REMS) to delay generic market entry is a major factor that is expected to hamper growth of the market over the forecast period. Branded drug manufacturers/drug discovery companies utilize REMS to withhold access to drug samples for generic manufacturers’ bioequivalence testing and development. This in turn delays entry of branded generic drugs in the market.
Browse Press Release: https://www.coherentmarketinsights.com/press-release/branded-generics-market-2755
Among formulation, oral segment was valued at US$ 134.8 Mn in 2018 and is expected to reach US$ 258.9 Mn by 2027 exhibiting a CAGR of 7.3% over the forecast period. The growth of the segment is attributed to oral medications that are easy to administer and patient compliance with oral medication is higher over other routes of administration, mainly due to ease of administration. Moreover, tablets, and capsules can be made more palatable using sweeteners, and colored coating.
Among distribution channel, retail pharmacies segment accounted for major market share of 45.4% in 2018, in terms of value, followed by hospital pharmacies and drug stores segments, respectively.
Patients find it easy and time saving to directly get their medication from retail pharmacies upon showing a prescription. Moreover, in economies such as Asia Pacific, and Africa, patients highly purchase their medications from retail pharmacies. These factors are expected to drive growth of the segment over the forecast period.
Among regions, Asia Pacific region segment accounted for major market share of 32.3%, in 2018, in terms of value, followed by Europe and North America, respectively. The factors such as high patient population, increasing healthcare spending, and high presence of number of generic manufacturers, who offer branded generics at cheaper rates are expected to propel growth of the region over the forecast period.
We value your investment and offer customization as per your requirements.
Share your precise requirements @ https://www.coherentmarketinsights.com/insight/request-customization/3391
Some states in the U.S. are focused on launching state-produced branded generics to reduce healthcare cost. For instance, in January 2020, the state government of California announced its plans to introduce its own brand of generic prescription drugs in order to reduce healthcare costs.
Major players in the market are focusing on offering discounts on their branded generics. For instance, in January 2020, Eli Lilly and Company announced its plans to offer half-price generic versions of its fast-acting Humalog Junior KwikPen insulin and Humalog Mix75/25 KwikPen, which contains a mix of fast- and intermediate-acting insulin by mid-April 2020.
- Pharmaceutical products in Europe are regulated by 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) trough one of three procedures as indicated below
Global Branded Generics Market: Competitive Landscape
Key players operating in the global branded generics market include Mylan N.V, Novartis AG, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Sun Pharmaceutical Industries Ltd., Aspen Pharmacare Holding Ltd., Abbott Laboratories, and Valeant Pharmaceuticals International, Inc.
Global Branded Generics Market: Key Developments
Major players operating in the market are focusing on adopting mergers and acquisitions to expand their portfolio and to strengthen their market position. For instance, in October 2019, Zentiva, a developer of branded generics and OTC products, signed a definitive agreement to acquire the Central and Eastern European Business of Alvogen, for an undisclosed amount.
Similarly, in July 2019, Mylan N.V. and Pfizer Inc. signed a definitive agreement to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company.
Access research reports that are tailored specifically for you and your organization in order to explore practical growth strategies and recommendations
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/3391
- Global Branded Generics Market, By Drug Class:
- Alkylating Agents
- Lipid Lowering Drugs
- Global Branded Generics Market, By Formulation:
- Global Branded Generics Market, By Indication:
- Cardiovascular Diseases
- Gastrointestinal Diseases
- Dermatology Diseases
- Analgesics and Anti-inflammatory
- Global Branded Generics Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Store
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in 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 organization, 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.
To know more about us, please visit our website – www.coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
- CDN Newswire