Global sales of branded generics are expected to grow by 8%

Significant profit margin on branded generic products, new market entrants, and ease in approval of marketing authorization procedures are collectively bolstering the sales of branded generics in the global market. This finding comes from Future Market Insights' Branded Generics Market Report.

The global branded generics market was valued at $231 billion in 2018 and it is expected to exhibit a compound annual growth rate of 8% during 2019 to 2029, according to the report.

The report's highlights include the following:

• In terms of drug class, anti-hypertensive medication is anticipated to dominate the global branded generics market;
• Oral formulation contributed nearly half of the global branded generics revenue share. Parenteral, topical, and other formulation contributed 42% of market share;
• Hospital and retail drug stores are expected to stay prominent distribution channels for branded generics; and
• Branded generics are expected to gain traction as a therapeutic application for cardiovascular diseases.

The report further highlights the fact that co-investments in emerging markets with an increasing prevalence of chronic diseases, rising geriatric population, a significant number of off-patent drugs offer opportunities for market growth. Manufacturers in these regions are continuously focusing on new formulations for off-patent drugs to offer drugs with better efficacy and safety.

Additionally, mergers and acquisitions have helped companies transform and accelerate each business segment’s ability to serve patient needs. Manufacturers are focused to expand market potential and capabilities in untapped markets. An increase in the number of regional players in the branded generics market are responsible for intense competition among the established players and emerging players.