Press release
Super Generics Market Is Expected to Grow At Significant Rate Owing To lack Of Innovation From Pharmaceutical Companies, Forecast By 2027
The generics market is very competitive with several companies looking to develop newer versions of generics by adding value to the product which helps in getting the market exclusivity extension for particular brand. Large cost of drug development and time overrun for developing new therapeutic entities, hindering innovation in pharmaceutical research and developing space there by promoting the companies to look for alternatives to sustain the patent protection of the given brand. Super generics or improved therapeutic entities are the superior form of the given generic molecule which has better patient compliance and therapeutic effect than already existing generic versions. Manufacturers adopt the quality by design, uses multifunctional excipients, modifies the dosage form and release pattern to develop value added generics i.e. super generics which create new segment of growth and assure better quality and economic viability to the payors.
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Super Generics Market: Drivers and Restraints
Global super generics market is expected to grow at significant rate owing to lack of innovation from pharmaceutical companies, increased cost of new drug development and added advantage of extended market exclusivity for improved version of super generic product. The factors currently contributing to the revenue growth of the super generics market is requirement of less time and cost of development, improved therapeutic effect, patient compliance and improved access or affordability of the treatment due to economic viability. Furthermore, increased market opportunities for generics, expected patent expiries over forecast period and increasing awareness about generics among key stakeholders are expected to drive the market for super generics over the forecast period.
Global super generics market may hindered by availability of low cost generics from developing markets and price pressure from payers which are expected to affect the market negatively over the forecast period. The super generics market is restrained by pay for delays by innovator companies, commoditization of generic market, and misuse of Risk Evaluation and Mitigation Strategies (REMS) programs by innovator companies to withhold access to drug samples for generic manufacturers’ bioequivalence testing and development, which are expected to hinder market revenue growth of super generics over the forecast period
Super Generics Market: Segmentation
Global super generics market has been segmented on the basis of products type, route of administration, distribution channel, and Region
Based on the producttype, the global super generics market is segmented into the following:
Drugs
Biologics
Based on the route of administration, the global super generics market is segmented into the following:
Oral
Injectable
Topical
Others
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Based on the distribution channel, the global super generics market is segmented into the following:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Drug Stores
Super Generics Market: Overview
Global Super Generics market is witnessing significant changes due to recent patent expiries across the globe. Several patented blockbuster drugs set to expire in next few years. Several pharmaceutical companies developing improved version of me to drugs which could help gain larger market share in the pharmaceutical market space. Several tier-2 pharmaceutical companies are dependent upon these super generics to gain regulatory approval in developed economies there by gain market exclusivity for the improved therapeutic entities. Sometimes players need to file New Drug Application (NDA) to get market approval for super generics.
Super Generics Market: Region-wise Outlook
Geographically, super generics market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America and Western Europe will remain key markets for super generics products due to attractive pharmaceutical market size and conducive regulatory environment which aims to decrease diseases treatment costs, all these factors together helps to maintain larger market revenue share in the globalsuper generics market by these regions. Asia Pacific is anticipated to present better growth opportunity owing to presence of key manufactures, who concentrate on incremental innovation and coupled with rising healthcare investment and spending in the region.
Super Generics Market: Key Players
Some of the players in the global super generics market are Sun Pharmaceutical Industries Ltd., Meda Pharmaceuticals Inc., Taiwan Liposome Company, Dr. Reddy’s Laboratories Ltd., Allergan plc., Teva Pharmaceutical Industries Ltd., and Celgene Corporation to name a few.
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