US Branded Generics Market valued at $19.1 billion in 2022, is anticipated to witness a CAGR of ~9-10% by 2027

Branded generics are generic drugs that are given a proprietary market name. It can be developed either by a generic drug company or by the original manufacturer and can be marketed 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 (ANDA) is submitted to the regulatory body for marketing and promoting branded generics and it should be therapeutically equivalent to the original drug for which the patent is expired.

Multiple Advantages Offered by Branded Generics Drives its Adoption in US Branded Generics Market

Due to the several advantages offered by branded generics, their adoption is expected to grow rapidly in United States. Following are some of the key advantages:-

• Sold as alternatives to brand-name drugs and are relatively less costly.

• For combination drugs, it is tough to remember their generic names. Branded generics can be easily remembered.

• Attract ,many consumers who prefer branded drugs only.

• They provide quality assurance from well-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

Unfulfilled Patient Demands Across Indications Triggers the Growth of the US Branded Generics Market

The unfulfilled patient demands in cardiovascular, gastroenterology, diabetology, oncology, pain management, and dermatology therapeutic segments is driving the growth of the US branded generics market. Other application segments which are also witnessing a high demand are women’s health, neurology, ophthalmology, respiratory, hormonal, anti-psychotic, and infectious diseases.

Growth Strategies Adopted by Top Market Players to Establish Their Strong Foothold in the US Branded Generics Market

All the top players operating in the US branded generics market have adopted both organic and inorganic growth strategies such as acquisitions, advancements, collaborations and partnerships to garner a larger market share. 

For instance,

• In November 2021, ANI Pharmaceuticals completed the acquisition of Novitium Pharma, thus enhancing its R&D capabilities and scale of generics and CDMO businesses.

The outlook of the US branded generics market looks promising due to the patent expiry of major drugs, the growing number of Indian companies, comparatively more profitability as compared to unbranded generics, and unfulfilled patient requirements across different therapeutic areas. However, higher costs compared to unbranded generics is one of the major factors that are likely to affect the market growth.

Competitive Landscape Analysis: US Branded Generics Market

The US branded generics market is marked by the presence of leading market players such as listed below:-

• Teva

• Mylan

• Sandoz 

• Sun Pharma

• Hikma, among others.

Get Detailed Insights on US Branded Generics Market Report with TOC @ https://meditechinsights.com/us-branded-generics-market/

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