US Branded Generics Market valued at $ 19.1 billion in 2022, is estimated to witness a CAGR of 9-10% by 2027
Branded generics are generic drugs which are given a proprietary market name. It can be developed either by the generic drug company or by the manufacturer and can be marketed only 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 is submitted to the regulatory body for promoting branded generics and it should be therapeutically equivalent to the original drug for which the patent is expired.
Several Advantages Offered by Branded Generics
Due to the several advantages offered by branded generics, their adoption is projected to grow rapidly in USA.
They are sold as alternative to brand-name drugs and are less costly.
For combination drugs, it is tough to remember their generic names. Branded generics can be easily remembered.
Attract several customers who prefer only branded drugs.
They provide quality assurance from top and 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 Companies Adds A Competitive Intensity to the Growth of the US Branded Generics Market
The share of the Indian companies in the US branded generics market is estimated to grow significantly in the next five years due to the following factors:
High R&D Spend: Leading Indian companies continue to invest heavily in their R&D work. Key Indian players have increased their R&D budgets over the last few years, thus indicating a good launch pipeline of these companies.
Entry of New Indian players: The US market continue to witness the entry of new Indian companies 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.
Growth Strategies Adopted by Top Market Players to Establish Their Strong Foothold in the US Branded Generics Market
The major players operating in the US branded generics market have adopted both organic and inorganic growth strategies such as acquisitions, collaborations and partnerships to garner a larger 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.
Competitive Landscape Analysis: US Branded Generics Market
The US branded generics market is marked by the presence of established market players such as Teva, Mylan, Sandoz, Sun Pharma, Hikma, among others.
The outlook of the US branded generics market looks promising due to the patent expiry of major drugs, growing number of Indian companies, more profitability as compared to unbranded generics, and unfulfilled patient needs across various therapeutic segments. However, high costs compared to unbranded generics is one of the primary factors which are likely to affect the market growth.
Get Detailed Insights on US Branded Generics Market with TOC @ https://meditechinsights.com/us-branded-generics-market/