Dublin, May 30, 2024 (GLOBE NEWSWIRE) -- The "Super Generics Market: Industry Trends and Global Forecasts, Till 2035: Distribution by Therapeutic Area, Route of Administration, Type of Molecule, Type of Small Molecule, Type of Product and Key Geographical Regions" report has been added to ResearchAndMarkets.com's offering.
The global super generics market was estimated to be USD 84 billion in 2024 and is projected to reach USD 200 billion in 2035. The market is anticipated to grow at a CAGR of 8%, during the forecast period 2024-2035.
The new research study consists of super generics market trends, detailed super generic drugs market landscape, technology landscape, likely drug analysis, SWOT analysis, and market forecast and opportunity analysis. The super generics market growth over the next decade is likely to be the result of anticipated increase in regulatory support, patent expirations, healthcare costs, therapeutic innovation, and ongoing technological advancements.
One of the key objectives of this market report was to estimate the super generic drugs market trends, current market size, opportunity and the future growth potential for the super generics market, over the forecast period. Based on multiple parameters, likely adoption trends and through primary validations, the analyst has provided an informed estimate on the market evolution during the forecast period 2024-2035.
In the pharmaceutical industry, super generic drugs represent improved versions of an original pharmaceutical drug that have lost their patent exclusivity. These modified pharmacological interventions are commonly referred to as complex generics / value added generics. These enhanced versions are readily available in the market as generic alternatives to their branded drugs. Interestingly, in 2022, the US FDA approved more than 32,000 generic drug products, 91% of all prescriptions in the United States are filled as generic drugs.
The improved super generics may enable enhancements in drug delivery, manufacturing processes and reformulation techniques. This value-added segment operates within a framework of continuous innovation, presenting lucrative opportunities in the pharmaceutical market landscape. Super generic drugs are granted a form of marketing exclusivity (for a period of 3-7 years), enabling their developers to generate relatively high profit margins, compared to conventional generics. Regulatory agencies such as the FDA in the United States or the EMA in Europe review these studies and grant approval for drugs to enter the super generics market.
The development of super generic drugs involves rigorous research and development processes to ensure their safety, efficacy, and quality. Industry players invest in extensive preclinical and clinical studies to demonstrate bioequivalence or therapeutic equivalence to the reference brand-name drug. As more generic drugs get approved by regulators across the globe, the competition in the industry is likely to increase.
The most evident impact of this competition is deflation of the cost of generics, resulting in diminished profit margins for the developers of such products. Therefore, to ensure sustainable growth within the off-patent drug products market, companies are gradually adopting innovative drug alteration techniques to develop value added medicinal products, which offer better commercial benefits. Retail pharmacies offer a diverse selection of generic options, providing consumers with opportunities to reduce healthcare expenses.
Furthermore, in numerous European countries, pharmacists have the authority to substitute brand-name prescriptions with generic equivalents unless otherwise specified by a healthcare provider. Retail pharmacies and online pharmacies serve as key resources for patients seeking information about their medications, offering guidance on the benefits and distinctions between super generics and standard generics.
Super Generic Market Share by Key Geographical Regions
This segment highlights the distribution of global super generics market across various geographies, namely North America, Europe, Asia-Pacific, and Rest of the World. According to the projections, the super generics market in North America is likely to capture the majority (55%) of the share. It is worth highlighting that the market in Rest of the World is expected to grow at a relatively higher CAGR (14%), during the period 2024-2035.
Super Generic Market Key Market Insights
The report features an extensive study of the current market landscape, market size and future opportunities associated with super generic drugs market size, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the pharmaceutical industry. Key takeaways of the super generics market report are briefly discussed below.
Advantages of Super Generics / Value Added Drugs Over Generics
Super generics / value added drugs offer numerous advantages over traditional generic drugs. By incorporating advanced drug delivery systems, novel formulations, and therapeutic modifications they enhance efficacy, safety, and patient compliance. These advanced formulations also improve the bioavailability of active pharmaceutical ingredients, ensuring better absorption and distribution in the body, thereby potentially enhancing treatment outcomes.
Moreover, super generics have longer periods of market exclusivity due to their enhanced formulations or delivery systems, providing manufacturers with a competitive advantage and the potential for higher sales revenues. Additionally, super generics offers unique features such as extended-release formulations, combination therapies, or alternative routes of administration. This allows them to cater to specific patient needs and preferences more effectively.
Super Generics Market Trends
The market landscape of super generic drugs is dynamic and diverse, with close to 270 super generic drugs developed by various industry players across different regions. These drugs are designed to provide therapeutic alternatives to branded drugs that have lost patent protection. Super generic drugs can be administered through various routes of administration, such as oral (tablets, capsules), intravenous (IV infusions), intranasal (nasal sprays), ophthalmic (eye drops), subcutaneous (injections), topical (creams, gels).
This diversity allows healthcare providers to tailor treatment regimens to individual patient needs, enhancing patient adherence and treatment outcomes. Overall, the market landscape of super generic drugs is characterized by innovation, competition, and affordability, providing patients with access to high-quality and cost-effective treatment options for a wide range of disease indications.
In addition to the aforementioned super generic drugs, close to 70 super generic technologies have also been developed. These technologies play a crucial role in the development and manufacturing of super generic drugs, contributing to their efficacy, safety, and affordability. Super generic technologies encompass a range of innovations and advancements in drug delivery systems, formulation techniques, manufacturing processes, and quality control methods, ultimately enhancing the overall quality and accessibility of generic pharmaceutical products.
Market Size of the Super Generics Market
Driven by patent expirations, advancements in technology and manufacturing processes, and increasing demand for affordable healthcare, the super generics market is anticipated to grow at a CAGR of 8% during the forecast period (2024-2032).
Super generics offer therapeutic alternatives to branded drugs at lower costs, making them attractive options for patients and healthcare systems. This growth trajectory highlights the rising importance of super generics in addressing global healthcare needs and providing accessible treatment options for patients which plays a crucial role in driving the growth of the super generics market.
North America Holds the Largest Share of the Super Generics Market
Presently, North America captures 55% of the overall super generics market size, with a growing preference for super generic drugs due to regulatory guidance and early FDA approvals. Additionally, the presence of major pharmaceutical companies and research institutions in North America drives innovation and facilitates the introduction of new super generic products to the market.
It is worth highlighting that, in the coming years, countries based in rest of the world are expected to experience higher growth in super generics adoption. This higher growth rate can be attributed to the changing demographic trends and healthcare needs owing to the aging population and rise in chronic diseases that create a growing demand for affordable treatment options. This region is likely to grow at a higher CAGR (14%) as compared to other regions.
Key Benefits of Buying this Report
- The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.
- Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
- The report provides stakeholders with a pulse on the Super Generics Market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 257 |
| Forecast Period | 2024 - 2035 |
| Estimated Market Value (USD) in 2024 | $84 Billion |
| Forecasted Market Value (USD) by 2035 | $200 Billion |
| Compound Annual Growth Rate | 8.0% |
| Regions Covered | Global |
Super Generics Market Share Insights
- Historical Trend: 2018-2023
- Base Year: 2023
- Forecast Period: 2024-2035
- Market Size Value in 2023: USD 77 Billion
- Growth Rate: CAGR of 8% from 2024 to 2035
- Therapeutic Area
- Cardiovascular Disorders
- Metabolic Disorders
- Neurological Disorders
- Oncological Disorders
- Respiratory Disorders
- Other Disorders
- Route of Administration
- Intravenous
- Oral
- Subcutaneous
- Others
- Type of Molecule
- Small
- Other Molecules
- Type of Small Molecule
- Generics
- Other Small Molecules
- Type of Product
- Aerosols
- Capsules
- Prefilled Syringes
- Tablets
- Vials
- Other Products
- Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Leading Market Players
- Accord Healthcare
- Alcon Laboratories
- Ascendia Pharmaceuticals
- Azurity Pharmaceuticals
- Baxter
- CritiTech
- Crossject
- DelSiTech
- Dr. Reddy's Laboratories
- Exela Pharma Sciences
- Harrow Health
- Heron Therapeutics
- Hikma Pharmaceuticals
- Intellipharmaceutics International
- Kashiv BioSciences
- Latitude Pharmaceuticals
- Mayne Pharma
- meda pharmaceuticals
- Neurelis
- Rubicon Research
- Sun Pharmaceutical industries
- Taiwan Liposome Company
- Tesa Labtec
- Teva Pharmaceutical
- PowerPoint Presentation (Complimentary)
- Customization Scope: 15% Free Customization
- Excel Data Packs (Complimentary)
- Overall Landscape
- Technology Landscape
- Likely Drug Analysis
- Market Size and Opportunity Analysis
For more information about this report visit https://www.researchandmarkets.com/r/3f5u9p
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