Global branded generics sales to expand at 8% CAGR through 2029

Significant profit margin on branded generic products, new market entrants, and ease in approval of marketing authorization procedures are collectively bolstering the sales of branded generics in the global market.

The global branded generics market was valued at $231 billion in 2018 and would exhibit a compound annual growth rate (CAGR) of 8% during 2019 – 2029, according to a new report from Future Market Insights.

Branded generics are the new formulation of off-patent drug sold either by the manufacturer of patented drug or by generic companies that build up brand equity for their generic versions of medications. For instance, in January 2019, the US Food and Drug Administration approved Teva Pharmaceutical Industries’ (NYSE: TEVA) generic version of Sabril (vigabatrin) tablets from Lundbeck (LUND: CO) for the treatment of refractory complex partial seizures as adjunctive therapy in patients’ ≥10 years of age who have responded inadequately to several alternative treatments.