Branded generics are generic drugs which are given a proprietary market name. It can be developed either by a generic drug manufacturer or by the original manufacturer and can be promoted 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 promoting branded generics and it should be therapeutically equivalent to the original drug for which the patent is expired.
Various Benefits offered by Branded Generics to drive its Adoption in the US Branded Generics Market
Due to various advantages offered by branded generics, their adoption is anticipated to grow in United States at a healthy rate. Following are the benefits:-
â€¢ They are sold as alternative to brand-name drugs and are comparatively less costly.
â€¢ For combination drugs, it is very hard to remember their generic names. Branded generics can be easily remembered.
â€¢ Pull multiple customers who prefer only branded drugs.
â€¢ They provide quality assurance from leading and top companies.
â€œBranded generics contain only a small percentage of total generic prescriptions in USA but they are more profitable than unbranded generics.â€-Tier I Branded Generic Manufacturer, United States
Foray of India Players Adds A Great Intensity to the US Branded Generics Market
The market share of the Indian players in the US branded generics market is set to grow in the coming five years due to the following factors:
o High R&D Spending: Top Indian players continue to invest heavily in their R&D activities. All established Indian players have further increased their R&D budgets over the past few years, indicating a good launch pipeline.
o Entry of New Indian players: The US market continues to see the entry of new companies every year, and these companies are estimated to further drive the market share of Indian players in overall ANDA approvals
o CDMO Entry: Few Indian CDMOs are planning to enter the US branded generics market
o Focus of Indian companies is on specialty/complex generics where competition is low and they can launch their products early.
Unfulfilled Patient Requirements Across Indications Fuels the Growth of the US Branded Generics Market
The unfulfilled patient requirements in the cardiovascular, gastroenterology, diabetology, oncology, pain management, and dermatology therapeutic areas is driving the growth of the US branded generics market. Other application segments which are also witnessing the growing demand are womenâ€™s health, neurology, ophthalmology, respiratory, hormonal, anti-psychotic and infectious diseases.
Reliable Growth Strategies Adopted by the Established Market Players to Dominate Their Position in the US Branded Generics Market
All the top market players operating in the US branded generics market have adopted both organic and inorganic growth strategies such as acquisitions, collaborations, advancements and partnerships to garner a larger market share.
â€¢ 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, an increasing number of Indian companies, comparatively more profitability as compared to unbranded generics, and unfulfilled patient needs across various therapeutic segments.
Competitive Landscape Analysis: US Branded Generics Market
The US branded generics market is marked by the presence of leading and promising market players such as follows:-
â€¢ Sun Pharma
â€¢ Hikma, among others.
Get Detailed Insights on US Branded Generics Market with Table of Content @ https://meditechinsights.com/us-branded-generics-market/