Global Specialty Generics Market Size study, by Type (Injectables, Oral Drugs, Others), By Application (Oncology, Inflammatory Conditions, Hepatitis C, Multiple Sclerosis, Others) by End-use (, Retail, Hospital, Others) and Regional Forecasts 2022-2028

Global Specialty Generics Market Size study, by Type (Injectables, Oral Drugs, Others), By Application (Oncology, Inflammatory Conditions, Hepatitis C, Multiple Sclerosis, Others) by End-use (, Retail, Hospital, Others) and Regional Forecasts 2022-2028

Global Specialty Generics Market is valued approximately USD 67.2 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.20% over the forecast period 2022-2028. When a specialty drug's patent expires, it's replaced with a generic version. These medications are used to treat chronic or complicated medical problems such as cancer, autoimmune disorders, epilepsy, and HIV. The growing acceptance of specialty generic drugs for the treatment of complicated chronic illnesses such as hepatitis C, as well as their increasing prevalence, is a significant market driver. According to the World Health Organization (WHO) report 2022, over 58 million individuals worldwide have chronic hepatitis C virus infection, with approximately 1.5 million persons infected yearly. Due to weakened immunity and high comorbid conditions, age is a key risk factor for the increased incidence of complicated chronic illnesses such as arthritis, cardiovascular disease, and cancer. According to the World Health Organization (WHO) the elderly population climbed from 1 billion in 2020 to 1.4 billion in 2021., By 2030, one in every six persons on the planet will be 60 or older. As a result, the industry's fast rising senior population is likely to generate profitable growth prospects. To increase their market share, major pharmaceutical corporations have engaged in mergers and acquisitions. BioCena bought a Pfizer-owned Australian factory for medication therapy manufacture in October 2021. In addition, BioCena finalized the acquisition of Pfizer Inc., which is owned by Hospira Adelaide, in 2020. It is a major provider of 200 specialized generic injectables in the United States. During the projected period, such strategic activities are expected to fuel market growth. However, brand recognition and loyalty, the high complexity of specialty generic goods, and limited profitability are some of the key entry obstacles for new participants in the business, all of which contribute to growing prescription costs. Teva Pharmaceutical Industries Ltd., for example, provided smart co-pay cards to Multiple Sclerosis (MS) sufferers in order for them to purchase COPAXONE for their treatment. Cardholders who qualify receive medications at no cost. Such campaigns draw customers' attention to their branded items, reducing the sales of specialist generic products.

The key regions considered for the Global Specialty Generics Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the speciality generics market due to favourable regulatory laws governing the approval of new drugs, and contributed 36.5% of total revenue in 2021. The FDA in the United States has launched many attempts to improve the overall approval process. As a result, the United States Food and Drug Administration (FDA) proposed Generic Drug User Fee Amendments (GDUFA) under the Hatch-Waxman Act to accelerate the delivery of safe and effective low-cost generic medications to the public. As a result, prominent manufacturers are always working to commercialise specialty generic medications in the market. Amneal Pharmaceuticals Inc., for example, introduced LYVISPAH (baclofen) in June 2022, a specialty medication approved by the US FDA for the treatment of multiple sclerosis and other spinal cord illnesses.

Major market player included in this report are:
Teva Pharmaceuticals Industries Ltd.
Viatris Inc.
Novartis AG (Sandoz International GmbH)
Hikma Pharmaceuticals PLC
Mallinckrodt
Bausch Health Companies Inc. (Valeant Pharmaceuticals International, Inc.)
Dr. Reddy’s Laboratories Ltd.
Endo Pharmaceuticals Inc.
Apotex Corp.
Sun Pharmaceutical Industries Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Type
Injectables
Oral Drugs
Others
By Application:
Oncology
Inflammatory Conditions
Hepatitis C
Multiple Sclerosis
Others
By End-use:

Retail
Hospital
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Specialty Generics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Teva Pharmaceuticals Industries Ltd.
Viatris Inc.
Novartis AG (Sandoz International GmbH)
Hikma Pharmaceuticals PLC
Mallinckrodt
Bausch Health Companies Inc. (Valeant Pharmaceuticals International, Inc.)
Dr. Reddy’s Laboratories Ltd.
Endo Pharmaceuticals Inc.
Apotex Corp.
Sun Pharmaceutical Industries Ltd.

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