The global branded generics market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Branded generics refers to an off-patent medicine sold under a brand name that offers something of value to the patients and healthcare professions, something that makes people select the brand. The rise in the geriatric population across the globe, who are more prone to chronic diseases are anticipated to drive the branded generics market. For instance, according to the data published by World Health Organization in 2021, the share of the population aged 60 years is anticipated to increase from 1 billion in 2020 to 1.4 billion and by 2050 the world’s population of people aged 60 and older is anticipated to double to 2.1 billion. Moreover, the numbers of persons aged 80 years and older are anticipated to triple between 2020 to 2050 to reach 426 million.
A full report of Wooden Decking Market is available at:https://orionmarketreports.com/global-branded-generics-market/92836/
According to the data published by World Health Organization in 2021, cardiovascular diseases are the leading causes of death globally. Approximately, 17.9 million mortalities occurred due to cardiovascular diseases in 2019, representing 32.0% of all global fatalities. Out of these, 85.0% were due to heart attack and stroke. Moreover, 17 million premature mortalities occurred due to non-communicable diseases, out of which 38.0% were caused by cardiovascular diseases. Thus, the rise in the prevalence of cardiovascular diseases is anticipated to fuel the demand for branded generics during the forecast period.
Looking towards the demand for branded generics, key market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in August 2021, Boehringer Ingelheim had received the US FDA approval of Jardiance to treat adults living with heart failure with reduced ejection fraction.
In August 2021, Bristol –Myers Squibb Co. had received the US FDA approval for Nivolumab (opdivo) for the adjuvant treatment with platinum chemotherapy for the treatment of patients with non-small cell lung cancer who are at a high risk of recurrence post radical resection. Further, in December 2021, Genentech Inc had received USFDA approval of rituximab in combination with chemotherapy for pediatric patients previously untreated with diffuse large B-cell lymphoma (DLBCL)
Similarly, in May 2020, AstraZeneca had received the US FDA approval of Farxiga in the Us, for the treatment of heart failure in patients with reduced ejection fraction. Thus, such launches and approvals are anticipated to accelerate the growth of the market during the forecast period.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Dr.Reddys Laboratories Ltd., Eli Lilly &Co., GlaxoSmithKline Plc, and Sandoz International GmbH among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Branded generics Market Report by Segment
By Product Type
- Value-Added Generics
- Trade Name Generics
By Application
- Cardiovascular
- Anti-Infective
- Anti-Cancer
- Central Nervous System (CNS)
By Distribution Channel
- Hospital
- Clinic
- Pharmacy
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
