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Forecasts show branded generics will double in revenue with Asia driving growth

Published on 13/02/20 at 12:11pm

Branded generic drugs are expected to grow in global sales by 8% by 2029, but Europe and America will not be the regions driving this growth.

These were the findings based on a recent global analysis of branded generics carried out by the International Generics Pharmaceutical Alliance and latest reports from Future Markets Insights (FMI). It shows that China, India and Asia Pacific will lead the global branded generics market through to 2029.

FMI suggests that this is being driven by rising generic drugs adoption by large pharmaceutical companies and their receiving of strong impetus from regulatory bodies.

North America and Europe currently hold a collective share of 30% of market that will like witness a dip towards the end of the projection period.

Overall, 20% of the total sales of branded generic in the global market are drugs targeting cardiovascular diseases and diabetes. These are set to remain the top therapeutic application areas over the next 9 years, but demands for drugs to treat gastrointestinal disease is also increasing with the FMI report suggesting that there will be lucrative growth in the generic drug market.

The global branded generics market was valued at $231 billion in 2018, but will double it revenue by 2029.

Conor Kavanagh

 

 

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