United States Specialty Generics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

United States Specialty Generics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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 generic drugs are the generic versions of specialty branded drugs once they lose patent protection. These drugs are used to treat life threatening and serious health conditions such as cancer, autoimmune diseases, epilepsy, HIV, hepatitis, multiple sclerosis, rheumatoid arthritis, etc.

Specialty generics are economical compared to specialty drugs as they don’t need to undergo the costly and time-consuming research and development procedures required for their branded versions. Moreover, marketing and promotional expenses for speciality generics are also lower compared to their branded versions. This results in significant savings for patients, government and healthcare providers. Moreover, the market is also being catalysed by a rising ageing population in the United States. This has resulted in an increasing prevalence of various life-threatening diseases such as cancer, multiple sclerosis, hepatitis, HIV, autoimmune disease, etc. For instance, the American cancer society estimated a total of 1,762,450 new cancer cases and 606,880 deaths from cancer in the United States for 2019. Additionally, the patent expiration of several blockbuster branded specialty drugs is further expected to catalyse the market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the United States specialty generics market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on route of administration, therapeutic application and distribution channel.

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
Competitive Landscape:
The leading players in the US specialty generics industry have also been examined in the report.

Key Questions Answered in This Report

1. What was the size of the United States specialty generics market in 2022?
2. What is the expected growth rate of the United States specialty generics market during 2023-2028?
3. What are the key factors driving the United States specialty generics market?
4. What has been the impact of COVID-19 on the United States specialty generics market?
5. What is the breakup of the United States specialty generics market based on the route of administration?
6. What is the breakup of the United States specialty generics market based on the therapeutic application?
7. What is the breakup of the United States specialty generics market based on the distribution channel?