The branded generics market in North America is expected to grow from US$ 73.15 billion in 2022 to US$ 126.24 billion by 2028; it is estimated to grow at a CAGR of 9.5% from 2022 to 2028.
The increasing penetration of branded generics drives the growth of the North America branded generics market. According to a report by VOXEU, with healthcare budgets under pressure, switching to branded generics seems a natural cost saver. Branded generics are cheaper alternatives to branded medicines. Additionally, as per the data of FDA, more than 90% of the prescription in US were filled by generic drugs during year 2020. Further, according to the Association of the Accessible Medicine, in year 2020, the generic and biosimilar drugs saved US$ 338 billion in US. Moreover, healthcare expenditure grew by 9.7% during the same year in US and reached US$ 4.1 trillion. Further, a savings of US$ 2.2 trillion is observed in healthcare expenditure during the last decade in US due to the availability of low-cost generics.
Further, the Association for Accessible Medicines report states that nearly 4 billion generic prescriptions were dispensed in 2018. According to the HSRII report, the US is the largest pharmaceutical market in the world (US$ 325 billion), accounting for one-third of the overall pharmaceutical market, with generics accounting for 84% in terms of volume of sales and 28% in terms of sales value. Furthermore, branded generics utilization has increased among the population due to savings provided low cost alternatives and by the healthcare reimbursement system. On average, in 2019, the use of generic medicines saved US$ 93 billion in Medicare savings and US$ 48.5 billion in savings to Medicaid. Hence, the rising penetration of generics stimulates the growth of the overall branded generics market.
By introducing new features and technologies, vendors in the North America branded generics market can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the market at a good CAGR during the forecast period.
North America Branded Generics Market Revenue and Forecast to 2028 (US$ Billion)
North America Branded Generics Market Segmentation
The North America branded generics market is segmented on the basis of therapeutic application, distribution channel, drug class, formulation type, and country. Based on therapeutic application, the market is segmented into oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, and analgesics and anti-inflammatory. In 2022, the others segment holds the largest share of the market. The market, by distribution channel, is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. The retail pharmacies segment holds the largest share of the market in 2022. The North America branded generics market, based on drug class, is segmented into alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptic, and others. The others segment holds the largest share of the market in 2022. The market, based on formulation type, is segmented into oral, parenteral, topical, and other. In 2022, the oral segment holds the largest share of the market. Based on country, the North America branded generics market is segmented into the US, Canada, and Mexico. The US holds the largest market share in 2022.
Aspen Holdings, AstraZeneca, Bausch Health (Valeant Pharmaceuticals), Dr. Reddy's Laboratories Inc., GlaxoSmithKline plc, Hetero, Lupin, MYLAN N.V., Par Pharmaceuticals, Sandoz International Gmbh, Sanofi, and TEVA PHARMACEUTICAL INDUSTRIES LTD. are among the leading companies in the branded generics market operating in this region.
At 9.5% CAGR, the North America Branded Generics Market is speculated to be worth US$ 126.24 Billion by 2028, says The Insight Partners
According to The Insight Partners’ research, the North America branded generics market was valued at US$ 73.15 billion in 2022 and is expected to reach US$ 126.24 billion by 2028, registering an annual growth rate of 9.5% from 2022 to 2028. The increasing penetration of branded generics and various government initiatives for promoting branded generics are the critical factors attributed to the market expansion.
A Scientific Electronic Library Online (SciELO) report states that promoting branded generics constitutes a core instrument for countries' national pharmaceutical policies, ultimately reducing drug expenditure with expanding healthcare access. Government procurement of generic drugs in bulk substantially lowers the costs compared to the price paid for a branded drug by an individual consumer. It can be lowered to 2% of the retail price of a branded drug. Therefore, the provision related to free drugs acts as one of the most important interventions responsible for mitigating the burden on healthcare costs. Also, the increasing geriatric population in North America drive the overall branded generics market.
On the contrary, switching brands, poorer clinical outcomes and adverse effects of generic medications the growth of North America branded generics market.
The therapeutic application segment of the North America branded generics market is segmented into oncology, cardiovascular diseases, diabetes, neurology, gastrointestinal diseases, dermatology diseases, and analgesics and anti-inflammatory. With 30.4% market share the others segment held the largest share of the market in 2022 amassing to US$ 22.25 billion. It is projected to garner US$ 37.84 billion by 2028 to expand at 9.3% CAGR during 2022–2028.
Based on distribution channel, the branded generics market sphere is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. The retail pharmacies held 57.3% market share in 2022, amassing US$ 41.88 billion. It is projected to garner US$ 72.35 billion by 2028 to expand at 9.5% CAGR during 2022–2028.
The North America branded generics market, by drug class is segmented into alkylating agents, antimetabolites, hormones, anti-hypertensive, lipid lowering drugs, anti-depressants, anti-psychotics, anti-epileptic, and others. With 70.3% share of the domain, the others segment dominated the market in 2022. It held US$ 51.44 billion in 2022 and is estimated to generate US$ 88.41billion by 2028 to grow at a CAGR of 9.4% over the forecast period.
The North America branded generics market, based on formulation type is segmented into oral, parenteral, topical, and others. With 57.7% share of the domain, the oral segment dominated the market in 2022. It accrued US$ 42.24 billion in 2022 and is estimated to generate US$ 72.81 billion by 2028 to grow at a CAGR of 9.5% over the forecast period.
Our regional analysis states that US captured 85.2% market share in 2022. It was assessed at US$ 62.32 billion in 2022 and is likely to hit US$ 107.66 billion by 2028, exhibiting a CAGR of 9.5% during the forecast period.
Key players dominating the North America branded generics market are Aspen Holdings, AstraZeneca, Bausch Health (Valeant Pharmaceuticals), Dr. Reddy's Laboratories Inc., GlaxoSmithKline plc, Hetero, Lupin, MYLAN N.V., Par Pharmaceuticals, Sandoz International Gmbh, Sanofi, and TEVA PHARMACEUTICAL INDUSTRIES LTD. among others.
A few latest key developments happening among the market players are described below:
In April 2022, GSK reaches agreement to acquire late-stage biopharmaceutical company Sierra Oncology for $1.9bn. GSK announced that the companies have entered into an agreement under which GSK will acquire Sierra Oncology, a California-based, late-stage biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer, for $55 per share of common stock in cash representing an approximate total equity value of $1.9 billion (£1.5 billion). In May 2022, Dr. Reddy's announced launching of generic Ertapenem for injection 1g/vial a therapeutic equivalent generic version of Invanz approved by the USFDA.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Branded Generics Market – By Therapeutic Application
1.3.2 North America Branded Generics Market – By Distribution Channel
1.3.3 North America Branded Generics Market – By Drug Class
1.3.4 North America Branded Generics Market – By Formulation Type
1.3.5 North America Branded Generics Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Branded Generics Market – Market Landscape
4.1 Overview
4.2 North America PEST Analysis
4.3 Experts Opinion
5. North America Branded Generics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Penetration of Branded Generics
5.1.2 Surging Government Initiatives for Promoting Branded Generics
5.2 Market Restraints
5.2.1 Switching Brands, Poorer Clinical Outcomes and Adverse Effects of Generic Medications
5.3 Market Opportunities
5.3.1 Product Differentiation Creating Opportunities
5.4 Future Trends
5.4.1 Encouraging Utility of Branded Generics by Healthcare Providers and Professionals
5.5 Impact Analysis
6. Branded Generics Market– North America Analysis
6.1 North America Branded Generics Market Revenue Forecast and Analysis
6.2 North America Branded Generics Market, By Country - Forecast and Analysis
7. North America Branded Generics Market Revenue and Forecast To 2028– by Therapeutic Application
7.1 Overview
7.2 North America Branded Generics Market Revenue Share, By Therapeutic Application: Market Revenue and Forecast Analysis (US$ Billion)
7.3 Oncology
7.3.1 Overview
7.3.2 Oncology Market Revenue and Forecast to 2028 (US$ Billion)
7.4 Cardiovascular Diseases
7.4.1 Overview
7.4.2 Cardiovascular Diseases Market Revenue and Forecast to 2028 (US$ Billion)
7.5 Diabetes
7.5.1 Overview
7.5.2 Diabetes Market Revenue and Forecast to 2028 (US$ Billion)
7.6 Neurology
7.6.1 Overview
7.6.2 Neurology Market Revenue and Forecast to 2028 (US$ Billion)
7.7 Gastrointestinal Diseases
7.7.1 Overview
7.7.2 Gastrointestinal Diseases Market Revenue and Forecast to 2028 (US$ Billion)
7.8 Dermatology Diseases
7.8.1 Overview
7.8.2 Dermatology Diseases Market Revenue and Forecast to 2028 (US$ Billion)
7.9 Analgesics and Anti-Inflammatory
7.9.1 Overview
7.9.2 Analgesics and Anti-Inflammatory Market Revenue and Forecast to 2028 (US$ Billion)
7.10 Others
7.10.1 Overview
7.10.2 Others Market Revenue and Forecast to 2028 (US$ Billion)
8. North America Branded Generics Market Analysis and Forecast to 2028 by Distribution Channel
8.1 North America Branded Generics Market Revenue Share, by Distribution Channel (2022 and 2028)
8.2 Hospital Pharmacies
8.2.1 Overview
8.2.2 Hospital Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
8.3 Retail Pharmacies
8.3.1 Overview
8.3.2 Retail Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
8.4 Online Pharmacies
8.4.1 Overview
8.4.2 Online Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
8.5 Drug Stores
8.5.1 Overview
8.5.2 Drug Stores: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9. North America Branded Generics Market Analysis and Forecast to 2028 by Drug Class
9.1 North America Branded Generics Market Revenue Share, by Drug Class (2022 and 2028)
9.2 Alkylating Agents
9.2.1 Overview
9.2.2 Alkylating Agents: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.3 Antimetabolites
9.3.1 Overview
9.3.2 Antimetabolites: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.4 Hormones
9.4.1 Overview
9.4.2 Hormones: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.5 Anti-hypertensive
9.5.1 Overview
9.5.2 Anti-hypertensive: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.6 Lipid Lowering Drugs
9.6.1 Overview
9.6.2 Lipid Lowering Drugs: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.7 Anti-Depressants
9.7.1 Overview
9.7.2 Anti-Depressants: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.8 Anti-psychotics
9.8.1 Overview
9.8.2 Anti-psychotics: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.9 Anti-epileptic
9.9.1 Overview
9.9.2 Anti-epileptic: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
9.10 Others
9.10.1 Overview
9.10.2 Others: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
10. North America Branded Generics Market Analysis and Forecast to 2028 – by Formulation Type
10.1 Overview
10.2 North America Branded Generics Market Revenue Share, by Formulation Type (2022 and 2028)
10.3 Oral
10.3.1 Overview
10.3.2 Oral Market Revenue and Forecast to 2028 (US$ Billion)
10.4 Parenteral
10.4.1 Overview
10.4.2 Parenteral Market Revenue and Forecast to 2028 (US$ Billion)
10.5 Topical
10.5.1 Overview
10.5.2 Topical Market Revenue and Forecast to 2028 (US$ Billion)
10.6 Others
10.6.1 Overview
10.6.2 Others Market Revenue and Forecast to 2028 (US$ Billion)
11. North America Branded Generics Market Revenue and Forecasts to 2028 Country Analysis
11.1 Overview
11.1.1 North America: Branded Generics Market, by Country, 2022 & 2028 (%)
11.1.1.1 US: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.1.1 Overview
11.1.1.1.2 US: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.1.3 US: Branded Generics Market, by Therapeutic Application, 2019–2028 (US$ Billion)
11.1.1.1.4 US: Branded Generics Market, by Distribution Channel, 2019–2028 (US$ Billion)
11.1.1.1.5 US: Branded Generics Market, by Drug Class, 2019–2028 (US$ Billion)
11.1.1.1.6 US: Branded Generics Market, by Formulation Type, 2019–2028 (US$ Billion)
11.1.1.2 Canada: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.2.1 Overview
11.1.1.2.2 Canada: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.2.3 Canada: Branded Generics Market, by Therapeutic Application, 2019–2028 (US$ Billion)
11.1.1.2.4 Canada: Branded Generics Market, by Distribution Channel, 2019–2028 (US$ Billion)
11.1.1.2.5 Canada: Branded Generics Market, by Drug Class, 2019–2028 (US$ Billion)
11.1.1.2.6 Canada: Branded Generics Market, by Formulation Type, 2019–2028 (US$ Billion)
11.1.1.3 Mexico: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.3.1 Overview
11.1.1.3.2 Mexico: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
11.1.1.3.3 Mexico: Branded Generics Market, by Therapeutic Application, 2019–2028 (US$ Billion)
11.1.1.3.4 Mexico: Branded Generics Market, by Distribution Channel, 2019–2028 (US$ Billion)
11.1.1.3.5 Mexico: Branded Generics Market, by Drug Class, 2019–2028 (US$ Billion)
11.1.1.3.6 Mexico: Branded Generics Market, by Formulation Type, 2019–2028 (US$ Billion)
12. Branded Generics Market–Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 MYLAN N.V.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 TEVA PHARMACEUTICAL INDUSTRIES LTD
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 GlaxoSmithKline plc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Bausch Health Companies Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Lupin
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Sanofi
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 ASTRAZENECA PLC.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Dr. Reddy's Laboratories
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Par Pharmaceuticals, INC
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Sandoz International GMBH
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Aspen Holdings
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Hetero
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF FIGURES.
Figure 1. North America Branded Generics Market Segmentation
Figure 2. North America Branded Generics Market, By Country
Figure 3. North America Branded Generics Market Overview
Figure 4. Others Segment Held Largest Share of Drug Class Segment in North America Branded Generics Market
Figure 5. Mexico is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. North America: PEST Analysis
Figure 7. Experts Opinion
Figure 8. Impact Analysis of Drivers and Restraints on North America Branded Generics Market
Figure 9. North America Branded Generics Market – By Country Forecast and Analysis – 2019 - 2028
Figure 10. North America Branded Generics Market Revenue Share, By Therapeutic Application: Market Analysis and Forecast 2022 and 2028 (%)
Figure 11. North America Oncology Market Revenue and Forecast to 2028 (US$ Billion)
Figure 12. North America Cardiovascular Diseases Market Revenue and Forecast to 2028 (US$ Billion)
Figure 13. North America Diabetes Market Revenue and Forecast to 2028 (US$ Billion)
Figure 14. North America Neurology Market Revenue and Forecast to 2028 (US$ Billion)
Figure 15. North America Gastrointestinal Diseases Market Revenue and Forecast to 2028 (US$ Billion)
Figure 16. North America Dermatology Diseases Market Revenue and Forecast to 2028 (US$ Billion)
Figure 17. North America Analgesics and Anti-Inflammatory Market Revenue and Forecast to 2028 (US$ Billion)
Figure 18. North America Others Market Revenue and Forecast to 2028 (US$ Billion)
Figure 19. North America Branded Generics Market Revenue Share, by Distribution Channel (2022 and 2028)
Figure 20. North America Hospital Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 21. North America Retail Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 22. North America Online Pharmacies: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 23. North America Drug Stores: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 24. North America Branded Generics Market Revenue Share, by Drug Class (2022 and 2028)
Figure 25. North America Alkylating Agents: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 26. North America Antimetabolites: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 27. North America Hormones: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 28. North America Anti-hypertensive: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 29. North America Lipid Lowering Drugs: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 30. North America Anti-Depressants: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 31. North America Anti-psychotics: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 32. North America Anti-epileptic: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 33. North America Others: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 34. North America Branded Generics Market Revenue Share, by Formulation Type (2022 and 2028)
Figure 35. North America Oral Market Revenue and Forecast to 2028 (US$ Billion)
Figure 36. North America Parenteral Market Revenue and Forecast to 2028 (US$ Billion)
Figure 37. North America Topical Market Revenue and Forecast to 2028 (US$ Billion)
Figure 38. North America Others Market Revenue and Forecast to 2028 (US$ Billion)
Figure 39. North America: Branded Generics Market, by Key Country – Revenue (2022) (US$ Billion)
Figure 40. North America: Branded Generics Market, by Country, 2022 & 2028 (%)
Figure 41. US: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 42. Canada: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 43. Mexico: Branded Generics Market – Revenue and Forecast to 2028 (US$ Billion)
Figure 44. Growth Strategies Done by the Companies in the Market (%)
