Recent research conducted by Future Market Insights predicts that the global market for branded generics will witness a steady growth in terms of revenues. Over a ten-year forecast period from 2016 to 2026, the size of global branded generics market has been estimated to expand at a steady CAGR of 7.3%. Brand-name prescriptions will continue to be ubiquitous among aged people in the world, and since geriatric demographics account for a large portion of global drug-consuming population, demand for branded generics will also rise substantially.
In 2016, the global branded generics market has been valued at nearly $200 billion, and is projected to reach $413.8 billion market value by the end of forecast period.
Some of the leading manufacturers of branded generics are based in Asian countries, and are extending their production capacity to keep up with the surging global depend. North America, Eastern Europe and Latin America are also expected to be lucrative for growth of branded generics sales, while revenues in Western Europe, Japan and Middle East & Africa are likely to incur a considerable dip by 2026-end.
Local pharmacies can tag onto this growth in branded generics by offering delivery services and promoting those services. The most recent AudienceSCAN survey revealed 4.4% of Americans plan to pay for prescription delivery services.
Competitive Timeline in Global Branded Generics Market
- Since 2015, Abbott Laboratories, a leading drugmaker in the global pharmaceuticals industry, has aimed at capitalizing from branded generics businesses in developing regions.
- Teva Pharmaceuticals acquired Allergan’s branded generics vertical, while Pfizer Inc. bought Hospira Inc. – both acquisitions have been strategically carried out for re-positioning market standings of Teva and Pfizer respectively.
- In December 2016, India-based Sun Pharmaceuticals Industries Ltd. agreed to buy Swiss drugmaker Novartis AG’s branded generics portfolio on cancer medications.
- Another leading branded generics manufacturer, Mylan N.V. recently launched anti-allergy devices which are expected to be half the price of its branded EpiPens.
- Other prominent companies partaking in the growth of global branded generics market include, Aspen Pharmacare Holding Ltd. and Valeant Pharmaceuticals International, Inc.
Advertising the benefits of branded generics could appeal to Prescription Delivery Service Clients. The AudienceSCAN study found 42% of delivery users took action based on the ads/coupons they received in the mail in the past month.
Research Highlights on Global Branded Generics Market
The report includes a segmental analysis of the global branded generics market, fragmenting its growth on the type of drug formulation, major drug classes, therapeutic applications, and distribution channels. Based on such segmentation, some of the key findings compiled in the report are:
- Nearly three-fifth of the global branded generics revenues estimated in 2016 are expected to be accounted by oral-type formulations, with parenteral, topic and other formulation types collectively accounting for 8% market value share.
- Hospital pharmacies & retail pharmacies will remain as the largest distribution channels for branded generics throughout the globe.
- In 2016 and beyond, the demand for branded generics in therapeutic treatment of cardiovascular diseases will be significant, revenues from which are expected to increase at more than 8% CAGR over the forecast period.
- Global revenues of branded generics accounted by anti-hypertensive drug class are predicted to surpass $25 billion by 2026-end.