Specialty Generics Market Size and Key Trends in Terms of Volume and Value 2017-2027
Several blockbuster specialty drug molecules are coming off patent in the coming years. Hence, companies are foraying into this market to launch generic versions of the products by developing novel formulations. Additionally, global saturation of conventional generics market and low margins for generic drugs is also forcing companies to look for newer opportunities. However, commercialisation and development of specialty generics is more complex when compared with conventional generics products. Originator companies are adopting multiple strategies to hold on to specialty drug market share by mix of regulatory, commercial and product development strategies.
Various companies are actively engaged in license, collaborations and acquisitions to expand their specialty generics capacities. For instance, in
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Specialty Generics Market: Drivers and Restraints
Favorable reimbursement policies, increasing prevalence of cancers, specialty drugs patent expiries, reforms enacted by government bodies, payer's pressures to reduce the drug prices, and lack of generic drugs to treat complex diseases are expected to boost demand for speciality generics during the forecast period. According to
Development of speciality generics is a complex process and requires skilled workforce and sourcing of raw materials. These longstanding challenges can impede the growth of the market during the forecast period.
Specialty Generics Market: Segmentation
The global specialty generics market is classified on the basis of disease indication, route of administration, distribution channel, and geography.
Based on disease indication, the global specialty generics market is segmented into the following:
Oncology
Infectious diseases
Multiple Sclerosis
Others
Based on route of administration, the global specialty generics market is segmented into the following:
Oral
Parenteral
Topical
Others
Based on distribution channel, the global specialty generics market is segmented into the following:
Retail Pharmacies
Hospital Pharmacies
Mail order Pharmacies
Specialty Generics Market: Overview
Development of cost-effective drugs to treat oncology, multiple sclerosis and other infectious diseases can create significant opportunities for the specialty generics manufacturers. For instance, a patient has to spend around
Specialty Generics Market: Regional Overview
Region-wise, the global specialty generics market is classified into regions namely,
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Specialty Generics Market: Key Players
Some of the players in global specialty generics market include
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