Branded Generics Market Is Expected To Reach USD 375.95 Billion By 2030
San Francisco, 21 Nov 2022: The Report Branded Generics Market Size, Share & Trends Analysis Report By Drug Class, By Application, By Route Of Administration, By Distribution Channel, And Segment Forecasts, 2022 - 2030 The global branded generics market size is expected to reach USD 375.95 billion by 2030, according to a new report by Grand View Research, Inc. Furthermore, the market is projected to expand at a CAGR of 5.7% from 2021 to 2030. Factors such as patent expiry of major products, the rising prevalence of chronic diseases, high penetration of generic products, and government initiatives to promote them for reducing the overall healthcare expenditure are among the primary growth drivers. The patent expiry of branded products primarily fuels industry growth. Drugs, such as Revlimid and Alimta, may cost up to USD 500 a month, which affects the overall healthcare expenditure and affordability for patients suffering from chronic diseases. Eli Lilly & Company’s Alimta