Generics Market-Focus on Value-Added Medicines-Supergenerics, 2019-2030
NEW YORK, Jan. 6, 2020 /PRNewswire/ --
INTRODUCTION
In 2018, it was estimated that the availability of low-cost, generic versions of pharmaceutical interventions saved nearly USD 1.6 trillion in healthcare costs in the US over the last decade. Given the cost benefits offered, generic medicines usually have high adoption rates. Moreover, upcoming patent expiries of several blockbuster drugs, such as LYRICA®, Cialis®, Advair® and Sensipar®, have intensified the interest of several drug manufacturers in the development of generics. As more generic drugs get approved by regulators across the globe, the competition in the industry has steadily increased. Interestingly, in 2018, the US FDA approved more than 780 generic products, which represented more than 90% increase in the number of such drug approvals since 2014. The most evident impact of the growth in competition in this domain is deflation of 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 in order to develop value added medicinal products, which offer better commercial benefits.
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The availability of several advanced drug development and technology platforms have enabled the fabrication and formulation of improved versions of existing drug products. Such modified pharmacological interventions are commonly referred to as supergenerics / complex generics / value-added generics. Although supergenerics are based on the same mechanism of action as that of the original drug, these versions usually have certain additional attributes, such as a new active ingredient, improved manufacturing process, alternative dosage regimen, modified release properties or different formulation. Typically, such drugs are granted a form of marketing exclusivity (for a period of 3-7 years ), enabling their developers to generate relatively higher profit margins, compared to conventional generics. Moreover, the development of value added generics is generally directed at certain unmet clinical needs, which may have been unaddressed by previous versions of the drug. In addition, the approval process for such products is not as complicated; in the US, value added medicines are evaluated under the FDA's 505(b)(2) pathway. This evolving segment of the pharmaceutical industry has also witnessed a surge in the availability of technology providers, offering a diverse range of platforms / solutions to support the development of supergeneric drugs. After a detailed analysis of prevalent trends, we are led to believe that value-added generic products market is poised to witness significant growth over the coming years.
SCOPE OF THE REPORT
The 'Generics Market: Focus on Value-added Medicines / Supergenerics, 2019-2030' report features an extensive study of supergenerics, as well as the current landscape and future potential of technology providers that are offering innovative platforms / solutions to supergeneric drug developers.
Amongst other elements, the report features:
• An overview of recently approved supergenerics (over the period 2016-2018), featuring information on route of administration, target disease indication(s), target therapeutic area(s), approval timeline, submission classification code and most active drug developers (in terms of number of product approvals). Additionally, it provides a detailed assessment of technology providers, offering platforms / solutions for supergeneric drug development, including information on year of establishment, company size and geographical location.
• An informed competitiveness analysis of the technologies captured in our database, taking into consideration relevant parameters, such as supplier power (based on company size of technology provider) and other important technology-related specifications, such as the type of molecule, impact on drug properties and route of administration.
• Elaborate profiles of prominent technology developers engaged in this domain, featuring an overview of the company, its financial information (if available), a detailed description of its technology platform(s), recent developments and a comprehensive future outlook.
• A list of marketed generics that, we believe, are likely to be developed as supergenerics in the near future, based on an in-depth analysis taking into consideration multiple relevant parameters, such as the current annual cost of treatment of the parent drug, year of patent expiry, revenues generated in the year before patent expiry, target therapeutic area and number of competitor (generic) drugs available in the market.
• Detailed case studies on five approved supergeneric drugs, including an overview of the product along with information on the original / parent drug, value proposition offered by the supergeneric version, pricing strategies adopted by the developer (if available), annual revenues of the supergeneric and parent drug (if available) and the key learnings / takeaways from individual case studies.
• A discussion on affiliated trends, key drivers and challenges, under a comprehensive SWOT framework, featuring a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall supergenerics industry.
One of the key objectives of the report was to understand the primary growth drivers and estimate the future opportunity within the market. Based on several parameters, such as size of the generic drugs market, share of supergenerics within the generic drugs market and expected annual growth rate across various geographies, we have provided an informed estimate of the likely evolution of the market, in the mid to long term, for the period 2019-2030. The chapter also presents a detailed market segmentation across [A] different therapeutic areas (autoimmune disorders, cardiovascular disorders, CNS disorders, metabolic disorders, oncological disorders, pain disorders, respiratory disorders and others), [B] routes of administration (parenteral, intravitreal, oral, topical and others) and [C] key geographical regions (North America, Asia-Pacific, Europe, South America, and Africa and Middle East).
In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry's growth. All actual figures have been sourced and analyzed from publicly available information forums. Financial figures mentioned in this report are in USD, unless otherwise specified.
RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary research. For most of our projects, we conduct interviews / surveys with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include:
• Annual reports
• Investor presentations
• SEC filings
• Industry databases
• News releases from company websites
• Government policy documents
• Industry analysts' views
While the focus has been on forecasting the market till 2030, the report also provides our independent view on various non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary sources of information.
CHAPTER OUTLINES
Chapter 2 is an executive summary of the insights captured in our research. It offers a high-level view on the likely evolution of the supergeneric drugs market in the mid to long term.
Chapter 3 provides an overview of generic drugs and the contemporary challenges related to such products, such as price erosion, growing competition and unfavorable policy changes by regulatory authorities. It further highlights the rise of supergenerics / value added generics and the various techniques used for the development of these products. The chapter also provides a brief outline of the regulatory pathways involved in the approval process of supergeneric drugs. Further, it includes a discussion on the various advantages and limitations / constraints within this evolving segment of the pharmaceutical industry.
Chapter 4 provides an overview of recently approved supergenerics (over the period 2016-2018). The chapter presents detailed analyses of these drugs based on several relevant parameters, such as route of administration, target disease indication(s), target therapeutic area(s), approval timeline, submission classification code and most active drug developers (in terms of number of product approvals).
Chapter 5 provides an overview of industry players that are actively engaged in offering technology platforms for the development of supergenerics. The chapter presents an analysis of these players on the basis of their year of establishment, geographical location and company size. It also provides a list of the various technologies offered by the aforementioned companies, along with a detailed competitiveness analysis based on parameters, such as compatibility with different types of molecules, routes of administration, and impact on drug properties.
Chapter 6 includes detailed profiles of prominent technology developers engaged in this domain, featuring an overview of the company, its financial information (if available), a detailed description of its technology platform(s), recent developments and a comprehensive future outlook.
Chapter 7 presents detailed case studies on five approved supergeneric drugs, including an overview of the product along with information on the original / parent drug, value proposition offered by the supergeneric version, pricing strategies adopted by the developer (if available), annual revenues of the supergeneric and parent drug (if available) and the key learnings / takeaways from individual case studies.
Chapter 8 provides a list of marketed generics that are likely to be developed as supergenerics in the near future, based on a detailed analysis of potential candidates, taking into consideration various parameters, including the current annual cost of treatment of parent drug, its year of patent expiry, revenues generated by the parent drug in the year before patent expiry, target therapeutic area and number of competitor generic drugs available in the market.
Chapter 9 provides a discussion on affiliated trends, key drivers and challenges, under a comprehensive SWOT framework, featuring a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall supergeneric drugs industry.
Chapter 10 presents a detailed market forecast, highlighting the future potential of the supergenerics market till the year 2030. The chapter features the likely distribution of the opportunity across different [A] type of therapeutic areas (autoimmune disorders, cardiovascular disorders, CNS disorders, metabolic disorders, oncological disorders, pain disorders, respiratory disorders and others), [B] routes of administration (parenteral, intravitreal, oral, topical and others) and [C] geographical regions (North America, Asia-Pacific, Europe, South America, and Africa and Middle East).
Chapter 11 summarizes the entire report. It presents a list of key takeaways and offers our independent opinion on the current market scenario. Further, it summarizes the various evolutionary trends that are likely to influence the future of this market.
Chapter 12 is an appendix, which provides tabulated data and numbers for all the figures included in the report.
Chapter 13 is an appendix, which contains the list of companies and organizations mentioned in the report.
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