New York, Oct. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Branded Generics Global Market Report 2022” – https://www.reportlinker.com/p06325409/?utm_source=GNW
, Aurobindo Pharma, Lupin, AstraZeneca, Apotex Inc., Zydus Cadila, Dr. Reddy’s Laboratories Ltd., Viatris, Inc., and Valeant Pharmaceuticals International, Inc.
The global branded generics market is expected to grow from $280.40 billion in 2021 to $303.10 billion in 2022 at a compound annual growth rate (CAGR) of 8.1%. The branded generics market is expected to reach $414.35 billion in 2026 at a CAGR of 8.1%.
The branded generics market consists of sales of branded generics by entities (organizations, sole traders, and partnerships) that refers to generic drugs that attach a proprietary market name.It is a medication that is bioequivalent to the innovator brand but is marketed under the brand name of another firm after the innovator brand’s patent expires rather than the generic name.
In order to increase recognition and encourage customer loyalty, branded generics are given names.
The main drug classes of branded generics are alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid-lowering drugs, anti-depressants, anti-psychotics, anti-epileptics, and other drugs.The alkylating agents of branded generics refer to a subclass of antineoplastic or anticancer medications that work by preventing the conversion of DNA into RNA, which halts the creation of proteins.
Alkylating chemicals change the hydrogen atoms on DNA to alkyl groups, which causes cross-links to form inside the DNA chain and has cytotoxic, mutagenic, and cancerous consequences.The various routes of administration of branded generics include topical, oral, parenteral, and other routes.
They are in various medical conditions including oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, analgesics and anti-inflammatory, and other diseases.
North America was the largest region in the branded generics market in 2021.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 and Africa.
The branded generics market research report is one of a series of new reports that provides branded generics market statistics, including branded generics industry global market size, regional shares, competitors with a branded generics market share, detailed branded generics market segments, market trends and opportunities , and any further data you may need to thrive in the branded generics industry. This branded generic market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing prevalence of chronic diseases will drive the growth rate of branded generics market.Chronic diseases are long-lasting sicknesses that often cannot be healed, however, they are curable and controllable.
Chronic diseases are increasing due to the increasing use of tobacco products, poor nutrition, physical inactivity, excessive use of alcohol, and others. Customers across the globe are more inclined toward branded generics to treat chronic diseases as they purchase them at a lower cost than usual.
For instance, in September 2020, according to a research report published by the American Action Forum, chronic disease prevalence and costs are rising in the United States. They are expected to keep as the disease prevalence among children and young adults.
Chronic disease is a serious healthcare problem since the rising cost of chronic disease in the United States totals $3.7 trillion annually, which is around 19.6% of the country’s gross domestic product. Thus an increase in the prevalence of chronic diseases is expected to boost the demand for branded generics during the forecast period.
The strategic partnership is a key trend in the branded generics market.The companies operating in branded generics are entering into a partnership with relevant companies to leverage each other’s resources and expand into new markets.
In December 2021, Biocon Ltd, an India-based fully integrated biopharmaceutical company that develops affordable biosimilars, generic formulations & complex APIs, entered into a partnership with Tabuk Pharmaceuticals.The partnership will open the door for Biocon’s entry into the MENA area, which will now includes Jordan, Lebanon, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Iraq.
This will help create a robust worldwide portfolio of goods, either directly or through strategic alliances, to provide patients all over the world with access to inexpensive treatments.These medications’ marketing authority will be held by Tabuk Pharmaceuticals, which is also in charge of their registration, importation, and promotion in Saudi Arabia and other Middle Eastern nations.
Tabuk Pharmaceuticals is a Saudi Arabia-based company that manufactures and markets branded and generic pharmaceutical products.
In July 2021, Lupin, an India-based pharmaceutical company offering branded and generic formulations, biosimilars, and active pharmaceutical ingredients (APIs), acquired Southern Cross Pharma Pvt Ltd (SCP) for an undisclosed amount.Through this acquisition, Generic Health, an An Australia-based wholly-owned subsidiary of global pharma major Lupin Limited, will have access to more than 60 registered products with approximately USD 22 million in sales.
It will result in the growth of value offer and market share of Lupin in the Australian market. Southern Cross Pharma Pvt Ltd (SCP) is an Australia-based pharmaceutical company engaged in developing, registering, and distributing generic products.
The countries covered in the branded generics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06325409/?utm_source=GNW
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