According to the recent report by IMARC Group, titled “United States Specialty Generics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the United States specialty generics market size reached US$ 26.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.
Specialty generics represent off-patented drugs that are bioequivalent to branded medications in terms of strength, quality, dosage, form, effect, intended use, side effects, route of administration, etc. They generally need special handling, monitoring, and prior authorization to order them. In addition to this, specialty generics are less expensive as compared to their counterparts as they do not require extensive manufacturing and marketing costs. Furthermore, these drugs are utilized to treat chronic health conditions, such as autoimmune diseases, cancer, epilepsy, HIV, hepatitis, multiple sclerosis, rheumatoid arthritis, etc. Consequently, specialty generics are gaining traction across the US.
United States Specialty Generics Market Trends:
The expanding geriatric population and the growing number of branded drugs nearing their expiration dates are primarily driving the US specialty generics market. Additionally, the launch of various favorable policies by government bodies in the country to develop affordable treatment options is catalyzing the market growth. Besides this, they are also providing incentives to physicians and pharmacists for promoting generic substitution, which is acting as another significant growth-inducing factor. Moreover, the escalating demand for re-innovated generics with reduced intra- and inter-patient variability is augmenting the market growth in the US. Apart from this, the introduction of biosimilar drugs by the leading manufacturers and the rising investments in R&D activities are anticipated to fuel the US specialty generics market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Table of Content:
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Global Specialty Generics Market: Introduction
4.1 What are Specialty Generic Drugs?
4.2 Types of Specialty Generics
5 Why are Specialty Generics So Lucrative?
6 Global Specialty Generics Market
6.1 Market Overview
6.2 Market Performance
6.3 Market Breakup by Route of Administration
6.4 Market Breakup by Therapeutic Application
6.5 Market Breakup by Distribution Channel
6.6 Market Breakup by Region
6.7 Market Forecast
7 US Specialty Generics Market
7.1 Market Overview
7.2 Market Performance
7.3 Impact of COVID-19
7.4 Market Breakup by Route of Administration
7.5 Market Breakup by Therapeutic Application
7.6 Market Breakup by Distribution Channel
7.7 Market Forecast
7.8 SWOT Analysis
7.8.1 Overview
7.8.2 Strengths
7.8.3 Weaknesses
7.8.4 Opportunities
7.8.5 Threats
7.9 Value Chain Analysis
7.10 Porters Five Forces Analysis
7.10.1 Overview
7.10.2 Bargaining Power of Buyers
7.10.3 Bargaining Power of Suppliers
7.10.4 Degree of Competition
7.10.5 Threat of New Entrants
7.10.6 Threat of Substitutes
7.11 Key Market Drivers and Success Factors
8 Market Breakup by Route of Administration
8.1 Injectables
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Oral
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Therapeutic Application
9.1 Oncology
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Hepatitis
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Multiple Sclerosis
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 HIV
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Other Autoimmune Diseases
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Distribution Channel
10.1 Retail Pharmacies
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Specialty Pharmacies
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Hospital Pharmacies
10.3.1 Market Trends
10.3.2 Market Forecast
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
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