The United States specialty generics market size reached US$ 26.1 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 47.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.
Specialty generic drugs are the generic versions of specialty branded drugs once they lose patent protection. These drugs are used to treat life threatening and serious health conditions such as cancer, autoimmune diseases, epilepsy, HIV, hepatitis, multiple sclerosis, rheumatoid arthritis, etc.
Specialty generics are economical compared to specialty drugs as they don’t need to undergo the costly and time-consuming research and development procedures required for their branded versions. Moreover, marketing and promotional expenses for speciality generics are also lower compared to their branded versions. This results in significant savings for patients, government and healthcare providers. Moreover, the market is also being catalysed by a rising ageing population in the United States. This has resulted in an increasing prevalence of various life-threatening diseases such as cancer, multiple sclerosis, hepatitis, HIV, autoimmune disease, etc. For instance, the American cancer society estimated a total of 1,762,450 new cancer cases and 606,880 deaths from cancer in the United States for 2019. Additionally, the patent expiration of several blockbuster branded specialty drugs is further expected to catalyse the market growth in the coming years.
2. What is the expected growth rate of the United States specialty generics market during 2023-2028?
3. What are the key factors driving the United States specialty generics market?
4. What has been the impact of COVID-19 on the United States specialty generics market?
5. What is the breakup of the United States specialty generics market based on the route of administration?
6. What is the breakup of the United States specialty generics market based on the therapeutic application?
7. What is the breakup of the United States specialty generics market based on the distribution channel?
Specialty generic drugs are the generic versions of specialty branded drugs once they lose patent protection. These drugs are used to treat life threatening and serious health conditions such as cancer, autoimmune diseases, epilepsy, HIV, hepatitis, multiple sclerosis, rheumatoid arthritis, etc.
Specialty generics are economical compared to specialty drugs as they don’t need to undergo the costly and time-consuming research and development procedures required for their branded versions. Moreover, marketing and promotional expenses for speciality generics are also lower compared to their branded versions. This results in significant savings for patients, government and healthcare providers. Moreover, the market is also being catalysed by a rising ageing population in the United States. This has resulted in an increasing prevalence of various life-threatening diseases such as cancer, multiple sclerosis, hepatitis, HIV, autoimmune disease, etc. For instance, the American cancer society estimated a total of 1,762,450 new cancer cases and 606,880 deaths from cancer in the United States for 2019. Additionally, the patent expiration of several blockbuster branded specialty drugs is further expected to catalyse the market growth in the coming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the United States specialty generics market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on route of administration, therapeutic application and distribution channel.Breakup by Route of Administration:
- Injectables
- Oral
- Others
Breakup by Therapeutic Application:
- Oncology
- Hepatitis
- Multiple Sclerosis
- HIV
- Other Autoimmune Diseases
- Others
Breakup by Distribution channel:
- Retail Pharmacies
- Specialty Pharmacies
- Hospital Pharmacies
Competitive Landscape:
The leading players in the US specialty generics industry have also been examined in the report.Key Questions Answered in This Report
1. What was the size of the United States specialty generics market in 2022?2. What is the expected growth rate of the United States specialty generics market during 2023-2028?
3. What are the key factors driving the United States specialty generics market?
4. What has been the impact of COVID-19 on the United States specialty generics market?
5. What is the breakup of the United States specialty generics market based on the route of administration?
6. What is the breakup of the United States specialty generics market based on the therapeutic application?
7. What is the breakup of the United States specialty generics market based on the distribution channel?
Table of Contents
1 Preface3 Executive Summary5 Why are Specialty Generics So Lucrative?
2 Scope and Methodology
4 Global Specialty Generics Market: Introduction
6 Global Specialty Generics Market
7 US Specialty Generics Market
8 Market Breakup by Route of Administration
9 Market Breakup by Therapeutic Application
10 Market Breakup by Distribution Channel
11 Competitive Landscape
List of Figures
List of Tables
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 26.1 Billion |
| Forecasted Market Value ( USD | $ 47 Billion |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | United States |
