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Branded Generics Market to represent a significant expansion at 7.3% CAGR by 2026
Research Report Insights (RRI) has launched the report titled, “Branded Generics Market to represent a significant expansion at 7.3% CAGR by 2026”
Branded generics are pharmaceutical drug molecules that are bioequivalent to original products. However, they are marketed under a company’s brand to differentiate itself from the generic products. Branded generics or generics require low research or development costs compared to the branded prescription products. Companies, which operate in branded generic business invest majorly in marketing the product and to create the brand awareness. Companies are seeing growing opportunity in the branded generics market owing to the higher deemed in the emerging countries. The global branded generics market has been segmented on the basis of therapeutic application, drug class, formulation type, distribution channels, and region.
The global branded generics market has been estimated to be valued at US$ 193.3 Bn in 2015, and is expected to expand at a 7.3% CAGR over the forecast period (2026).
Growth of the global branded generics market is mainly driven by increasing affordability of branded generics owing to fierce competition, favourable demographics across the regions, and companies’ differential pricing for these products in accordance with geographic needs.
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Other prominent factors driving growth of the market are adoption of branded generics by large scale pharmacy chains in European countries, integrated supply chain, growing captive sales force and conducive regulatory environment in developing countries.
Market Segmentation by Therapeutic Application
Based on therapeutic application, the market has been segmented into oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, analgesic and anti-inflammatory, and others. In terms of value, others segment is estimated to account for more than 41% market share in global branded generics market, by 2026 end.
Market Segmentation by Drug Class
According to drug class, the market has been segmented into alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptics and others. Others drug class segment accounted for highest market share of 79.5% in 2015 and is expected to gain moderate market share over the forecast period to reach at the value US$ 330.6 Bn by 2026.
Market Segmentation by Formulation Type
According to formulation type, the market has been segmented into orals, parenteral, topicals and others. Oral formulation type segment accounted for highest market share of 58.0% in 2015 and is expected to gain moderate market share over the forecast period to reach the value of US$ 241.3 Bn by 2026
Market Segmentation By Distribution Channels
On the basis of distribution channels, the market has been segmented into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. Retail pharmacies followed by hospital pharmacies are the most preferred medium of distribution of branded generics across the regions.
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The global branded generics market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the APEJ market has been estimated to dominate the global branded generics market in 2016, and is expected to expand at a CAGR of 10.0% over the forecast period. APEJ, MEA, and Latin America are expected to be the fastest growing markets among regional markets.
Some of the key players in the global branded generics market include Abbott Laboratories, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Mylan N.V., Valeant Pharmaceuticals International, Inc., Aspen Pharmacare Holding Ltd., Sun Pharmaceutical Industries Ltd.
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