Specialty Generics Market Growth Prospects Mapping, Size Analysis, Variables, Trends and Scope Study

Felton, Calif., USA, Mar. 11, 2021 — /EPR Network/ —

The global Specialty Generics Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global Specialty Generics Market size is expected to value at USD 174.9 billion by 2025, during the forecast period. The market is subject to witness a substantial growth due to the increase in demand for cost-effective generic specialty drugs. Lower cost associated with adoption of the specialty generics drugs for the successful treatment for multiple sclerosis, cancer, and other types of infectious disorders is augmenting growth of the market over the forecast period.

Key Players:

• Teva Pharmaceuticals USA, Inc.
• Mylan N.V.
• Sandoz International GmbH
• Akorn, Inc.
• Mallinckrodt
• Valeant Pharmaceuticals International, Inc.
• Pfizer
• Endo Pharmaceuticals Inc.
• Apotex Corp.
• Sun Pharmaceutical Industries Ltd.

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Growth Drivers:

Commonly occurred specialty generic drugs are estimated to cost around sixty to eighty percent cheaper in comparison with the branded drugs available in the market. Cost-effectiveness of the generic drugs is majorly attributed to factors such as lack of expensive clinical trials, no need for advertisement, and promotional activities. Such factors are propelling growth of the market over the forecast period. Globally, the specialty generics industry is predicted to grow at highest CAGR in forecast period, providing numerous opportunities for market players to invest for research and development in the market. Increasing number of off-exclusive specialty generic medicines is considered as one key factors responsible for augmenting growth of specialty generic drugs market. Other factors such as early patent expirations of essential drugs available in the market, and development and adoption of the off-patent specialty generic as a new entry are boosting demand for the specialty generics over the forecast period. Early patent expirations depend on norms and regulation set by governmental agencies.

Treatment associated with diseases such as multiple sclerosis, cancer, and other types of infectious disorders are highly expensive due to the higher cost of pharmaceuticals. Regional governments are contributing significantly for development of cost-effective drugs across the globe. Further, reduction in the healthcare expenditure by developed countries is aggravating demand for the cost-effective drugs. Subsequently, factors such as price regulations and downsizing of healthcare budget in developing economies are raising demand for cost-effectiveness in healthcare sector. Moreover, recent economic crisis and growing generic population are some of the critical drivers for boosting demand for cost-effective specialty genetic drugs over the forecast period. Inclination towards development of specialty generics drugs due to their multiple advantages over other products are extending reach of the specialty generics market.

Application Outlook:

• Oncology
• Inflammatory conditions
• Multiple sclerosis
• Hepatitis C

Type Outlook:

• Injectables
• Oral

Regional Outlook:

North America has shown major growth in recent years owing to the rise adoption of latest methodologies in healthcare sector and presence of the prominent industry players in the region. Asia-Pacific region is predicted to hold major market share in the specialty generics market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing occurrence of chronic disorders, rising demand for cost-efficient generic drugs, and increasing investment by industry players considering future opportunities in the region.

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