Report : Europe Branded Generics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Therapeutic Application (Oncology, Cardiovascular Diseases, Diabetes, Neurology, Gastrointestinal Diseases, Dermatology Diseases, Analgesics and Anti-Inflammatory, and Others), Distribution Channel (Hospitals, Retail Pharmacies, Online Pharmacies, and Drug Stores), Drug Class (Alkylating Agents, Antimetabolites, Hormones, Antihypertensive, Lipid-Lowering Drugs, Antidepressants, Antipsychotics, Antiepileptic, and Others), and Formulation Type (Oral, Parenteral, Topical, and Others)

At 10.0% CAGR, the Europe Branded Generics Market is speculated to be worth US$ 81.30 Billion by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe branded generics market was valued at US$ 45.81 billion in 2022 and is expected to reach US$ 81.30 billion by 2028, registering an annual growth rate of 10.0% 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.

According to a report released by VOXEU, with healthcare budgets worldwide under pressure, switching to branded generics seems a natural cost saver. Branded generics are cheaper alternatives to branded medicines, offering efficiency gains to any healthcare system. For instance, in 2016, US$ 253 billion was generated by generic medicines accounting for one-quarter of a trillion-dollar dollars. Further, the Association for Accessible Medicines report states that nearly 3.9 billion generic prescriptions were dispensed in 2016. Furthermore, branded generics utilization has increased among the population due to savings provided by the healthcare system and the ability to make investments in tomorrow's new medicines. Hence, the rising penetration of branded generics is responsible for stimulating the growth of the overall branded generics market.  

On the contrary, switching brands, poorer clinical outcomes and adverse effects of generic medications hurdles the growth of Europe branded generics market.

The therapeutic application segment of the Europe 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$ 13.93 billion. It is projected to garner US$ 24.30 billion by 2028 to expand at 9.7% 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 58.0% market share in 2022, amassing US$ 26.56 billion. It is projected to garner US$ 47.16 billion by 2028 to expand at 10.0% CAGR during 2022–2028.

The Europe 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$ 32.20 billion in 2022 and is estimated to generate US$ 56.90 billion by 2028 to grow at a CAGR of 10.0% over the forecast period.

The Europe branded generics market, based on formulation type is segmented into oral, parenteral, topical, and others. With 57.8% share of the domain, the oral segment dominated the market in 2022. It accrued US$ 26.47 billion in 2022 and is estimated to generate US$ 46.91 billion by 2028 to grow at a CAGR of 10.0% over the forecast period.

Our regional analysis states that the Rest of Europe captured 31.8% market share in 2022. It was assessed at US$ 14.60 billion in 2022 and is likely to hit US$ 25.46 billion by 2028, exhibiting a CAGR of 9.7% during the forecast period.

Key players dominating the Europe 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 Jan 2020, Sandoz announced acquisition of Japanese business of Aspen Holdings and has acquired all the shares in Aspen Japan K.K. and associated assets held by AGI. The acquisition enables Sandoz to expand its presence in Japan’s marketplace, the third largest for generics and off-patent medicines worldwide. It also strengthens Sandoz’s presence in the hospital channel by complementing the broad Sandoz portfolio and pipeline of hospital generic and biosimilar products in Japan with a dedicated sales, marketing and medical organization.
  • In May 2021, Dr. Reddy's announced launching of generic Ertapenem for injection 1g/vial a therapeutic equivalent generic version of Invanz approved by the USFDA.

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