The generics industry has enjoyed a remarkable run over the past two decades. The vast healthcare cost-saving potential of these therapies has accelerated their adoption and proven the immense potential that generics have to reach wider patient segments.
The problems arrive:
While the generics market is highly attractive, the increasing competition in this domain has decreased the profit margins of each player and has pushed the developers to actively look for alternate opportunities in this segment.
Innovation is the solution:
The low-cost potential of generics combined with the innovation of novel drugs has led to the rise of supergenerics. The term supergenerics is used for novel treatments and treatment modalities, derived from existing off-patent small-molecule drugs. The high growth prospect of these therapies has attracted various stakeholders in this space.
Given lucrative cost benefits and marketing exclusivity, supergeneric medicines represent an attractive product segment within the modern pharma industry; upcoming patent expiries of blockbuster drugs have intensified the interest in this field.
Novel technology developers are driving innovation:
Upcoming technologies are increasingly exploiting strategies for the development of supergenerics; the US is currently considered to be the base of operations for the majority of such companies.
Driven by expansion into diverse therapeutic areas and exploitation of different routes of delivery, the long term opportunity in this market is likely to evolve at CAGR of ~17%.