Branded Generics Market to represent a significant expansion at 7.3% CAGR by 2026

Research Report Insights (RRI) has launched the report titled, “Branded Generics Market to represent a significant expansion at 7.3% CAGR by 2026”

Branded generics are pharmaceutical drug molecules that are bioequivalent to original products. However, they are marketed under a company’s brand to differentiate itself from the generic products. Branded generics or generics require low research or development costs compared to the branded prescription products. Companies, which operate in branded generic business invest majorly in marketing the product and to create the brand awareness. Companies are seeing growing opportunity in the branded generics market owing to the higher deemed in the emerging countries. The global branded generics market has been segmented on the basis of therapeutic application, drug class, formulation type, distribution channels, and region.

The global branded generics market has been estimated to be valued at US$ 193.3 Bn in 2015, and is expected to expand at a 7.3% CAGR over the forecast period (2026).

Market Dynamics

Growth of the global branded generics market is mainly driven by increasing affordability of branded generics owing to fierce competition, favourable demographics across the regions, and companies’ differential pricing for these products in accordance with geographic needs. These are expected to drive the market over forecasted period.

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Other prominent factors driving growth of the market are adoption of branded generics by large scale pharmacy chains in European countries, integrated supply chain, growing captive sales force and conducive regulatory environment in developing countries.

However, price pressure from payers such as government and insurance agencies, misuse of Risk Evaluation and Mitigation Strategies (REMS), pay for delays, and commoditization of generics are the factors suggestive of barriers to growth of global branded generics market.

Large players in this market are employing strategies like Mergers & Acquisitions (M&A) and maintaining distribution agreements with strong local players in various regions to consolidate their market position.

Market Segmentation by Therapeutic Application

Based on therapeutic application, the market has been segmented into oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, analgesic and anti-inflammatory, and others. In terms of value, others segment is estimated to account for more than 41% market share in global branded generics market, by 2026 end.

Market Segmentation by Drug Class

According to drug class, the market has been segmented into alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptics and others. Others drug class segment accounted for highest market share of 79.5% in 2015 and is expected to gain moderate market share over the forecast period to reach at the value US$ 330.6 Bn by 2026. Increasing demand for drugs is mainly attributed to the favourable market dynamics for branded generics across the developing countries or regions coupled with rising competition among existing players.

Market Segmentation by Formulation Type

According to formulation type, the market has been segmented into orals, parenteral, topicals and others. Oral formulation type segment accounted for highest market share of 58.0% in 2015 and is expected to gain moderate market share over the forecast period to reach the value of US$ 241.3 Bn by 2026. Increasing demand for oral pharmaceutical formulations can be mainly attributed to the availability, affordability, and accessibility to these formulations.

Market Segmentation By Distribution Channels

On the basis of distribution channels, the market has been segmented into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. Retail pharmacies followed by hospital pharmacies are the most preferred medium of distribution of branded generics across the regions. However, increasing consumer preference for online sales channel which provides mail order requests, are expected to impart significant competition to these traditional channels in some of the regions such as North America and Western Europe.

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Key Regions

The global branded generics market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the APEJ market has been estimated to dominate the global branded generics market in 2016, and is expected to expand at a CAGR of 10.0% over the forecast period. APEJ, MEA, and Latin America are expected to be the fastest growing markets among regional markets. APEJ market is expected to witness highest CAGR of 10.0% over the forecast period. In APEJ, cardiovascular diseases therapeutic application sub-segment is expected to grow at faster rate to reach the value US$ 21.1 Bn by 2026 end. Market in Japan is expected to exhibit healthy CAGR owing to growing acceptance of generics in the region.

Key Players

Some of the key players in the global branded generics market include Abbott Laboratories, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., Valeant Pharmaceuticals International, Inc., Aspen Pharmacare Holding Ltd., Sun Pharmaceutical Industries Ltd.

Report Analysis: https://www.researchreportinsights.com/report/rd/110114772/Branded-Generics-Market

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