• Fri. Jan 22nd, 2021

Specialty Generic Pharmaceuticals Market 2021: Emerging Technologies, Sales Revenue, Key Players Analysis, Development Status, Opportunity Assessment and Industry Expansion Strategies 2025

REPORT HIGHLIGHT

The specialty generic pharmaceuticals market is estimated to represent a global market of USD 28.7 billion by 2016 with growth rate of 20.8%. Spending on specialty generic pharmaceuticals market is growing rapidly over past few years owing to the growing demand for cost effective therapeutics for various disease indications. It is analyzed that the rise in cost of specialty therapeutic treatments were the primary driver for the growth in spending compared to the increased utilization of specialty generics. The costs for specialty therapeutics are often high compared to other treatment options. However, these drugs are exhibit life-changing potential and offer high effectiveness in treatment of life threatening chronic conditions. Factors such as rising number of off-patent specialty drugs, increasing demand for generic specialty drugs due to low cost.

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Drug spending on specialty generics is also expected to rise owing to the rise in prevalence of chronic diseases such as inflammatory conditions, multiple sclerosis, oncology and others drives the market growth. According to the Health of America, spending will increase at a higher growth rate for specialty pharmaceuticals. This spending is expected to cover by health insurance under the pharmacy benefits rather than medical benefits. However, advent of biologic therapeutics i.e. biosimilar is expected to cut cost of many commercially available generic therapeutics. Biosimilars are less costly and used treat a range of diseases including rheumatoid arthritis, cancer, diabetes and others.

The global specialty generic pharmaceutic market is categorized in terms of injectables, oral drugs and others. Among which, oral and self-injectable specialty therapeutics has been increasing owing to the technological advancements. Injectable generic therapeutics is considered to be the fast catching market segment, growing constantly over the forecast period. Injectable generics for oncology treatment is widely in demand across the globe. Therapeutics such as Avastin(Bevacizumab), Taxol(Pacitaxel), Doxil(Doxorubicin), Paraplatin(Carboplatin), Sutent(Sunitinib), Votrient(Pazopanib) and others are some of the injectable oncology therapeutics.

Based on indication, the market is divided as Oncology, Inflammatory conditions, Multiple sclerosis, Hepatitis C, and Others. Of which, we noticed that the growth of specialty genetics spending for hepatitis indication is increasing very rapidly over the forecast year. Growth of this segment is majorly attributed to the high demand coupled with increasing incidence of this disease. Introduction of novel generic therapeutics is also considered to be the primary for this market growth. End use segment is covered under Specialty pharmacies, Retail pharmacies and Hospital pharmacies. Specialty pharmacies accounted for the largest share of the global market, captured around USD 21.6 billion in 2016 and is expected to dominate the market over the forecast period.

Key companies that spend on the specialty generic drugs have increased at significant rate compared to the traditional pharmaceuticals. As per the estimates, around USD 87 billion was spent on specialty therapeutics by 2012 and the spending could reach to around USD 350 billion by 2020 (around increase by 26%). Companies such as Teva Generics, Mylan N.V., Pfizer, Inc. and Novartis AG are on forefront of specialty generic pharmaceuticals market. These companies are engaged in extensive research and development activities to develop novel generic therapeutics to enhance their market share.

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Pfizer, Inc. captured significant share of the market in 2016. The company has adopted advanced technologies and formularies for development of high quality generics. Moreover, the company is highly inclined toward maintaining competition in the market as well as delivering economic value to customers and satiate unmet demands. One of the major deals of Pfizer, Inc. was the acquisition of Hospira, Inc. in 2015, which resulted in capturing of greater share of the generic injectables market space.

The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.

The years considered for the study are:

Historical Year – 2014 & 2015

Base Year – 2015

Estimated Year – 2016

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, And Suppliers

Manufacturers

Hospitals

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY TYPES

Injectable

Oral

Others

MARKET, BY INDICATION

Oncology

Inflammatory

Multiple sclerosis

Hepatitis C

Others

MARKET, BY END USE

Specialty Pharmacies

Retail Pharmacies

Hospital Pharmacies

MARKET, BY REGION

North America

Europe

Asia Pacific

Rest of the World

MARKET, BY COUNTRY

Further Breakdown of The North America Market

U.S.

Canada

Further Breakdown of The Europe Market

Germany

France

Rest of Europe

Further Breakdown of The APAC Market

India

China

Rest of APAC

Further Breakdown of The Rest of the World Market

Middle East and Africa

Latin America

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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