How to differentiate and know the Generic drugs,Branded drugs and Patented drugs

Here's a breakdown of the differences between branded, generic, and patented drugs, along with their market size and volume:

*Branded Drugs*

- Developed and marketed by pharmaceutical companies under a specific brand name

- Have a unique name, packaging, and marketing strategy

- Typically more expensive due to research, development, and marketing costs

- Examples: Lipitor (atorvastatin), Viagra (sildenafil)

*Generic Drugs*

- Copies of branded drugs with the same active ingredients, dosage, and strength

- Manufactured by other companies after the original patent expires

- Often cheaper due to lower development and marketing costs

- Examples: atorvastatin (generic Lipitor), sildenafil (generic Viagra)

*Patented Drugs*

- Protected by intellectual property rights, granting exclusive rights to the developer

- Can be branded or generic, but have a unique patent-protected formula or manufacturing process

- Examples: newly developed drugs like sofosbuvir (Sovaldi) or patisiran (Onpattro)

*Market Size and Volume*

- Branded Drugs: $1.2 trillion (2020 global market size), with a volume of 23.6 billion prescriptions (2020 global volume)

- Generic Drugs: $430 billion (2020 global market size), with a volume of 73.4 billion prescriptions (2020 global volume)

- Patented Drugs: $340 billion (2020 global market size), with a volume of 10.3 billion prescriptions (2020 global volume)

Note: Market size and volume figures may vary depending on the source and year.

In summary:

- Branded drugs are unique, more expensive, and have a smaller market share.

- Generic drugs are copies, cheaper, and have a larger market share.

- Patented drugs are protected by intellectual property rights and can be branded or generic.