PATENT MEDICINE MARKET ANALYSIS (2020-2027)

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PATENT MEDICINE MARKET ANALYSIS (2020-2027)

• Patent Medicine Market - Global Industry
  Insights, Trends, Outlook, and Opportunity
  Analysis 2020 - 2027

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• A patent medicine, also known as Nostrum (our
  remedy), is a commercial product that is
  developed for the first time for a specific
  disease condition. It is initially sold under a
  brand name by which the physician can prescribe
  the drug for use of patients. Patent medicine is
  a concept, which means that only the
  pharmaceutical company that holds the patent is
  allowed to manufacture and make profit out of it.
  In most cases, drug patent is awarded for 20
  years to pharmaceutical companies. Moreover,
  sometimes the period of patent for drug has
  different lifespan in years according to its
  utility and in the country in which patent is
  been applied for approval. The effective period
  for patent drug is mostly seven to twelve years,
  as a company applies for patent prior to clinical
  trials to assess drug safety.

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Global Patent Medicine Market Drivers

• Patent medicine market is going to develop in
  coming over the forecast period, thus it will
  exhibit significant growth for pharmaceutical
  products due to increasing prevalence of diseases
  across the world. There are hundreds of medicine
  patent launches every year. For instance, in July
  2020, Pfizer Inc. submitted a patent application
  of tofacitinib oral sustained release form
  indicated for treatment of lupus, multiple
  sclerosis rheumatoid arthritis, and cancer.
  Furthermore, in July 2020, GlaxoSmithKline
  Biologicals SA patented dried saponin liposomal
  composition used in lyophilised form of
  immunogenic vaccine composition. Medicine patents
  are equally important for pharmaceutical
  companies. Patented products roughly generate
  half of revenue for pharmaceutical companies.

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Global Patent Medicine Market - Impact of COVID-19

• Sudden difficult situation of COVID-19 pandemic
  is affecting industries across the world.
  However, several industries are trying to
  overcome the financial situation. COVID-19 has
  affected the research and development in some
  fields of pharmaceutical industry, whereas
  surgical pharmaceutical industry is experiencing
  significant growth in patent filing due to rise
  in research and development in masks, infra-red
  thermometers, diagnostic kits, and mechanical
  ventilators.

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Global Patent Medicine Market Restraints

• However, high cost of patent medicine as compared
  to generic medicine is expected to hamper growth
  of the patent medicine market. Generic medicine
  manufacturing companies incur less costs in
  developing generic medicines when compared to
  branded drug manufacturers. Moreover, majority of
  the pharmaceutical companies practise Patent
  Ever-greening, which means that they try to
  incur more revenue/profit by making minor changes
  in existing product using same base formula but
  different chemical structure formula and secure
  patent on it, thereby claiming it novel.
  Furthermore, patients in underdeveloped countries
  cannot afford patented medicines due to high
  cost. These factors are expected to restrain the
  global patent medicine market growth over the
  forecast period.

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Global Patent Medicine Market - Regional Analysis.

• On the basis of region, the global patent
  medicine market is segmented into North America,
  Latin America, Europe, Asia Pacific, Middle East,
  and Africa. The North America patent medicine
  system is effective and attracts investments from
  companies who want profit from pharmaceutical
  industry. Pharmaceutical companies in the U.S.
  are investing in research and development of
  novel medicines. For instance, in July 2020,
  Pfizer Inc patented its substituted
  carbonucleoside derivatives useful as anticancer
  agents. Key players in region are Pfizer Inc and
  Bristol-Myers Squibb.

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• Moreover, Europe has a growing market for
  pharmaceutical companies due to its increasing
  elderly population, above average expenditure on
  drugs, and robust use of branded drugs over
  generic equivalents. Therefore, the
  pharmaceutical companies in this region are
  focusing on research and development of novel
  medicines. For instance, in May 2020, Sanofi
  Pasteur Biologicals patented pharmaceutical
  composition containing toxins A and B, which
  increase stability of toxin in drug.
• Furthermore, manufacturers in Asia Pacific region
  are increasing their focus on research and
  development in patent medicine market. For
  instance, in April 2020, Otsuka Pharmaceutical
  co., ltd, Japan, patented Cyanotriazole
  compounds, which improve hyperglycemia with less
  side effects and excellent safety and is useful
  in treating diabetes.

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Global Patent Medicine Market - Competitive
Landscape.

• Key players operating in the global patent
  medicine market include Pfizer Inc, Bristol-Myers
  Squibb, GlaxoSmithKline plc, Novartis
  International AG, Sanofi S.A, Merck Co., Inc.,
  Roche Holding AG, Amgen Inc, and AbbVie Inc.
• Key Developments
• In 2015, Pfizer Inc. (New York, NY) and Merck
  Sharp Dohme Corp. (Rahway, NJ) presented
  invention related to combination therapies useful
  for the treatment of cancer. In particular, the
  invention relates to a combination therapy, which
  comprises an antagonist of a Programmed Death 1
  protein (PD-1) and an inhibitor of anaplastic
  lymphoma kinase (ALK).

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• 2. In April 2020, Otsuka Pharmaceutical Co., Ltd.
  (Tokyo) patented invention related to an
  injectable preparation comprising
  7-4-(4-benzobthiophen-4-yl-piperazin-1-yl)butox
  y-1H-quinolin-2-one or a salt, which has a wide
  therapeutic spectrum for central nervous system
  diseases (particularly schizophrenia)
• 3. In June 2020, GlaxoSmithKline Biologicals SA
  patented invention related to immunogenic
  compositions such as vaccines, comprising
  immunogenic polypeptides from Haemophilus
  influenzae and Moraxella catarrhalis, which is
  used for boosting immune response.

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Global Patent Medicine Market Taxonomy

• By Medicine Type
• Solid Drug Products
• Semi-solid Drug Products
• Liquid Drug Products
• Gas/aerosols Drug Products
• Others

• By Indication
• Cardiovascular Disease
• Respiratory Disease
• Immunological Disease
• Blood Disease
• Gastrointestinal Disease
• Ophthalmic Disease
• Orthopedic Disease
• Neurodegenerative Disease
• Others

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Global Patent Medicine Market Taxonomy

• By Region
• North America
• Latent America
• Europe
• Asia Pacific
• Middle East
• Africa

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