VALLEY COTTAGE, N.Y. — The global branded generics market will more than double in value in just 10 years from a current $200 billion to $413.8 billion in 2016, according to a new report from Future Market Insights.
The size of the global branded generics market is estimated to grow at a 7.3% compound annual growth rate for the 2016-2026 time period, FMI added.
“Brand-name prescriptions will continue to be ubiquitous among aged people in the world, and since geriatric demographics account for a large portion of global drug-consuming population, demand for branded generics will rise substantially,” FMI stated in its report.
The fastest growth will be in the Asia Pacific excluding Japan region, where about $150 billion in revenues are expected to be procured by the end of 2026. This region will register a 10% compound annual growth rate, contributing more than one-third of global branded generics revenues, stated FMI.
North American growth will also be lucrative in the period ended 2026, FMI noted, with Eastern Europe and Latin America also expected to be strong.
On the flip side, revenues in Western Europe, Japan and the Middle East and Africa are expected to incur a considerable dip through 2026, FMI concluded.
January 31, 2017 | By Brian Berk