The global branded generics market is predicted to grow significantly as a large number of pharmaceutical products are going to be off-patent within the forecast period. Simple marketing authorization procedures, entry of new players, changing medicine practices, greater profit margin are some other factors which are projected to increase the global branded generics market. Though, huge competition from branded drugs and commodity generic products are some of the restraining factors.
Branded drugs are patented drugs. When a pharmaceutical company discovers a new drug, it files for a patent. Branded generics are generic versions of products sold either by the original manufacturer of the patented drug or by generic manufacturers that build up brand equity for their generic versions of the medication, which they introduce right after the patent expires on the original product.
Branded generics, sometimes also called as ‘value-added generics ‘that can either be a novel dosage form of an original patented drug or a generic drug with a definite trade name. Branded generics differ from ‘commodity generics’ which are pharmaceutical products, generally used as an alternative to innovator products after the expiry of the patent. The global branded generics market is projected to grow gradually as a large number of pharmaceutical products are going to go off-patent within the forecast period of 2014 to 2025.
The global branded generics market size spans product type, application, distribution channel type, and region. On the basis of product type, the global market size spans Value-Added Branded Generics, Trade (Brand) Named Generics. Value-added branded generics: are usually developed using innovative pharmaceutical technologies and such products allowing the goal of the products being more patient-friendly to be achieved. It must meet all the requirements of bio-equivalency and have the same quality, efficacy, and safety as the original drug.
Trade (Brand) Named Generics are the ones that have one or more brand names. Several companies may make the same generic medicine, each with their own brand name. On the basis of application, the global market size spans Cardiovascular Drugs, Anti-Cancer Drugs, CNS Drugs, Anti-Infective Drugs, Others.
Cardiovascular Drugs form the most rapidly growing market for branded generic drugs. The main contribution towards this regard has been provided by the expiry of patents of most of CVS drugs. CNS Drugs segment is expected to grow during the forecast period of 2014 to 2025, this is due to the rapid growth patent expiry of several key antipsychotics and antidepressants.
On the basis of distribution channel type, the global market size spans hospital pharmacy, clinics, pharmacy, and drug stores. Geographically, the global branded generics market is segmented into North America (U.S., Canada), Latin America (Mexico, Brazil), Western Europe (Germany, Italy, England, Spain, France, Rest of Western Europe), Eastern Europe (Russia), Asia Pacific (China, India, ASEAN, Australia & New Zealand, Japan), Middle East and Africa (GCC, South Africa, North Africa).
North America accounts for the largest market size for branded generics in 2014 and is projected to lead the market over the forecast period. This is due to the increasing demand for cost-effective medicines. Solid competition exists in Canada for the supply of generic drugs for the last 10 years. Europe is the second-largest region for the branded generics market, as major players in the generic market are targeting the European market where patients cannot afford expensive branded medicines. Asia Pacific is projected to grow gradually during the forecast period and expected to account for the largest market size globally. This is due to increasing healthcare infrastructure and government funding.
The key players of the global market size are Teva Pharmaceutical Industries Ltd, Mylan N.V., Hospira Inc., Dr. Reddy’s Laboratories Ltd., Apotex Inc., GlaxoSmithKline Pharmaceuticals Limited, Valeant, ZydusCadila, Sandoz, Lupin Pharmaceuticals, Inc. Par Pharmaceutical Companies, Inc., Sanofi, and AstraZeneca.
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