Branded Generics Market Industry Size, Growth, Demand,...

Branded Generics Market Industry Size, Growth, Demand, Opportunities and Forecast By 2029

Posted 2023-08-25 18:31:11

Due to the potential of SWOT analysis and Porter's Five Forces analysis in generating market research report, they are preferred by the businesses and hence also used while making an excellent Branded Generics marketing report. Market drivers and market restraints explained in this report provides idea about the rise or fall in the consumer demand for the particular product depending on several factors. In addition, this market report also gives top to bottom assessment of the market with respect to income and developing business sector. Thus, the world class Branded Generics report endows with in-depth market analysis to thrive in this competitive environment

Data Bridge Market Research analyses that the branded generics market was valued at USD 292.3 billion in 2021 and is expected to reach USD 542.28 billion by 2029, registering a CAGR of 8.03% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Branded generics are medicines or pharmaceutical drugs that have been re-released on the market under a different brand name. These are re-released at a lesser cost, and the shape, size, colour, and flavour may differ, even though the medication remains the same. This is due to the fact that the medicine's or pharmaceutical drug's patent has expired. Drugs that can be used to treat hypertension, diabetes, back pain, thyroid, and arthritis, among other conditions, are re-released at cheaper costs in order to stay in the market and survive competition. However, it is important to highlight that, despite the alterations made in the re-release of the drug, the quality remains the same. The functions that the medicine would accomplish are not compromised in any way.

Branded Generics Market Dynamics

Drivers
Increasing prevalence rate of chronic diseases will drive the market's growth rate

The rising prevalence rate of chronic diseases and acute ailments will propel the growth rate of branded generics market during the forecast period. Along with this growing number of cancer cases will enhance the demand for branded generics. This will further influence the market dynamics.

Rising number of expired patents will flourish the market's growth rate

The rising number of expired patents will flourish the growth rate of branded generics market forward.

Additionally, the rising number of government initiatives to spread awareness among people will majorly influence the branded generics market's growth rate. Other significant factors resulting in the expansion of the market are the rising number of cases of trauma and accident globally and improving healthcare infrastructure. Furthermore, the rising geriatric population and favorable reimbursement policies are the major drivers that will enhance the growth of market.

Some of the major players operating in the branded generics market are Abbott (U.S.), Allergan (Ireland), Merck & Co., Inc. (U.S.), Pfizer Inc. (U.S.), GlaxoSmithKline plc (U.K.), Abbott (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (U.S.), Teva Pharmaceutical Industries Ltd.(Jerusalem), Sanofi (France), Novartis AG (Switzerland), Bayer AG (Germany), Sun Pharmaceutical Industries Ltd. (Mumbai), Aurobindo Pharma (Hyderabad), Lupin (Mumbai), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Zydus Cadila (Ahmedabad), Dr. Reddy's Laboratories Ltd., (Hyderabad), and Apotex Inc. (Canada), among others.

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