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US Branded Generics Market was valued at US$ 19.1 billion in 2022 and is Projected to witness a Decent Growth Rate of ~9-10% by 2027
Medi-Tech Insights: Rising prevalence of chronic diseases, growth in ANDA filings and approvals, channel consolidation & deep pricing pressure, portfolio rationalization by MNCs, patent expiry of major drugs, and foray of Indian players are some of the key factors driving the US branded generics market.
US Branded Generics Market (2022-2027)
BRUSSELS, BELGIUM, Jan. 23, 2023 (GLOBE NEWSWIRE) --
Branded generics are generic drugs that are given a proprietary market name. It can be developed either by a generic drug firm or by the original manufacturer and can be marketed after the patent expiry of the original drug. They are sold by using a brand name instead of a chemical name. An abbreviated new drug application (ANDA) is submitted to the regulatory body for marketing branded generics and it should be therapeutically equivalent to the original drug for which the patent is expired.
Advantages Offered by Branded Generics Drives its Adoption in US Branded Generics Market
Due to the multiple advantages offered by branded generics, their adoption is expected to rise in USA.
They are sold as alternatives to brand-name drugs and are relatively less expensive.
For combination drugs it is difficult to remember their generic names. Branded generics can be easily remembered.
Attract several consumers who prefer branded drugs only.
They provide quality assurance from well-established companies.
“Branded generics comprise only a small percentage of total generic prescriptions in the US but they are more profitable than unbranded generics.”-Tier I Branded Generic Manufacturer, US
Foray of India Players Adds A Competitive Intensity to the US Branded Generics Market
The share of Indian players in the US branded generics market is expected to further increase in the next five years primarily due to the following factors:
High R&D Spend: Large Indian players continue to invest significantly in R&D. Leading Indian players have increased their R&D budgets over the last few years, indicating a good launch pipeline of these players
Entry of New Indian players: The US market continues to see the entry of new players every year, and these companies are expected to further drive the share of Indian players in overall ANDA approvals
CDMO Entry: Few Indian CDMOs are also planning to enter the US market
Focus of Indian players is on specialty/complex generics where competition is relatively lower and launching products early.
Unmet Patient Needs Across Indications Triggers the US Branded Generics Market
The unmet patient needs in cardiovascular, gastroenterology, diabetology, oncology, pain management, and dermatology therapeutic areas is driving the US branded generics market. Other application areas that are also witnessing increased demand are women’s health, neurology, ophthalmology, respiratory, hormonal, anti-psychotic, and infectious diseases.
Organic and Inorganic Growth Strategies Adopted by Key Market Players to Establish Their Foothold in the US Branded Generics Market
The leading players operating in the US branded generics market have adopted both organic and inorganic growth strategies such as acquisitions, and partnerships to garner a higher market share. For instance,
In November 2021, ANI Pharmaceuticals completed the acquisition of Novitium Pharma, significantly enhancing its R&D capabilities and scale of generics and CDMO businesses.
The outlook for the US branded generics market looks quite promising due to the patent expiry of major drugs, the growing prominence of Indian companies, relatively more profitability as compared to unbranded generics, and unmet patient needs across various therapeutic areas. However, high costs compared to unbranded generics is one of the pivotal factors that are likely to hamper the market growth.
Competitive Landscape Analysis: US Branded Generics Market
US branded generics market is marked by the presence of established market players such as follows:-
Teva
Mylan
Sandoz
Sun Pharma
Hikma, among others.
Explore Detailed Insights on US Branded Generics Market Report with Table of Content @ https://meditechinsights.com/us-branded-generics-market/
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