Specialty Generics Market Size & Forecast Report, 2014 - 2025

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 substantial growth due to the increase in demand for cost-effective generic specialty drugs. The lower cost associated with the adoption of the specialty generics drugs for the successful treatment of multiple sclerosis, cancer, and other types of infectious disorders is augmenting the growth of the market over the forecast period.

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. The Cost-effectiveness of 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 the growth of the market over the forecast period. Globally, the specialty generics industry is predicted to grow at the highest CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development in the market.

An increasing number of off-exclusive specialty generic medicines is considered as one key factor responsible for augmenting the growth of the 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 regulations set by governmental agencies.

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

The injectable segment is one of the fastest-growing segments attributed to the growing implementation of self-monitored injectables by patients. Additionally, numerous initiatives in regards to acquisitions and the latest product launches by prominent industry players in various regions across the globe are pumping the market growth shortly. Acquisition and partnerships allow market players to gain access and develop injectable drugs, infusion methodologies, and biosimilar businesses. 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 the growth of the oral specialty generics industry segment. The growing demand for the oral specialty generics market segment is also attributed to the factors such as the presence of self-administer 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 segments 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 the latest methodologies in the healthcare sector and the presence of prominent industry players in the region. Asia-Pacific region is predicted to hold a major market share in the specialty generics market with massive growth in the 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.

Market Segment:

Type Outlook (Revenue, USD Billion; 2014 - 2025)
    • Injectables
    • Oral
    • Others

Application Outlook (Revenue, USD Billion; 2014 - 2025)
    • Oncology
    • Inflammatory conditions
    • Multiple sclerosis
    • Hepatitis C
    • Others

End-use Outlook (Revenue, USD Billion; 2014 - 2025)
    • Specialty pharmacy
    • Retail pharmacy
    • Hospital pharmacy

Regional Outlook (Revenue, USD Billion; 2014 - 2025)
    • North America
        • the U.S.
        • Canada
    • Europe
        • Germany
        • the UK
        • France
        • Italy
        • Spain
    • the Asia Pacific
        • Japan
        • China
        • India
    • Latin America
        • Brazil
        • Mexico
    • MEA
        • South Africa
        • Saudi Arabia