Branded Generics Market Size, Share, Growth, Trends, and Global Industry Analysis: By Disease Indication (Cardiovascular Diseases, Diabetes, Cancer, Neurological Disorders, Gastrointestinal Diseases, Dermatology Diseases, and Others), By Route of Administration (Oral, Parenteral, Topical, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Drug Stores, and Online Pharmacies), and Region  

Branded Generics market size is valued at US$ 242.4 billion in 2023 and is poised to grow at a CAGR of 5.9% from 2024 to 2030. The global market provides a detailed overview of the market and which can be segmented by disease, route of administration, distribution channel, and region. By disease, the market has been segmented into cardiovascular diseases, diabetes, cancer, neurological disorders, gastrointestinal diseases, dermatology diseases, and others. By disease, the cardiovascular disease segment accounts for increasing sales of branded generics in the global market. According to World Health Organization (WHO), around 17.9 million people die every year from cardiovascular diseases (CVDs) across the world. Correspondingly, 1.13 billion people worldwide have hypertension. This leads to the adoption of branded generics such as anti-hypertensive drugs, which ultimately expands market.  By route of administration, the market has been segmented into oral, parenteral, topical, and others. By route of administration, the oral segment leads the market with a significant share. The segments growth can be attributed to the convenience factor associated with oral administration. Oral medications are easy to administer and patient compliance with oral medication is more than other routes of administration.

Furthermore, tablets and capsules are being made more palatable using sweeteners and colored coatings. Based on the distribution channel, the segment has been segregated into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies. Online Pharmacies are expected to have a considerable growth rate owing to the emergence of e-commerce, and manufacturers are forging alliances with online and retail pharmacies. An unprecedented pandemic of COVID-19 regularised branded generics shopping via online pharmacies. Patients find it easy and timesaving to get their medication from online pharmacies directly. As a result, online pharmacies are projected to gain traction through 2022 and beyond. By region, the North America market is expected to witness the highest market share during the forecast period owing to the well-established healthcare facilities and increasing prevalence of chronic diseases across the region, such as cardiovascular diseases, diabetes, Alzheimer's diseases, and Parkinson's diseases boosting the demand of market.

Branded Generics Market Key Developments

• In May 2021, Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. announced the launch of THIOLA (tiopronin) tablets for the presentation of cystine (kidney) stones.
• In July 2021, Lupin announced that it will acquire Australia-based Southern Cross Pharma Pvt Ltd (SCP).