Latest Research Report on Specialty Generics Market begins with a deep introduction and then delves broad into specific segments such as raw material, application, end user, and region, policy study, value chain structure, and upcoming trends in particular segments or regions. The report on Specialty Generics prepare a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
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.
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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.
The injectable segment is one of the fastest growing
segment attributed to the growing implementation of self-monitored injectable
by patients. Additionally, numerous initiatives in regards to acquisitions and
latest product launches by prominent industry players in various regions across
the globe is pumping the market growth in the near future. Acquisition and
partnerships allows market players to gain access and develop injectable drugs,
infusion methodologies, and biosimilar business. Major emphasis on building
sustainable healthcare infrastructure by local government is further
contributing to market growth.
Increasing incidences of chronic diseases such as
arthritis, inflammatory conditions, and cancer are fueling growth of oral
specialty generics industry segment. The growing demand for the oral specialty
generics market segment is also attributed to the factors such as presence of
self-administer the drugs similar to Gleevec and Tarceva, which does not
require visiting a healthcare professional for an infusion or injection. The
specialty generics industry is divided into regional market segment such as
North America, Europe, Asia-Pacific, Latin America and Africa. 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.
The key players in the specialty generics industry are
Mylan N.V., Teva Pharmaceuticals Incorporations, Sandoz Company, Mallinckrodt
Co., Akorn, Incorporations, Valeant Pharmaceuticals International
Incorporations, Endo Pharmaceuticals Incorporations, Pfizer, Incorporations,
Sun Pharmaceutical Limited, and Apotex Co.
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