North America Branded Generics Market

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.  

North America Branded Generics Strategic Insights

Strategic insights for the North America Branded Generics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Branded Generics Report Scope

North America Branded Generics Regional Insights

The geographic scope of the North America Branded Generics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.