Global Specialty Pharmaceutical Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Specialty Pharmaceutical Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Specialty Pharmaceutical is commonly used to treat chronic, serious or life-threatening diseases such as cancer, rheumatoid arthritis, growth hormone deficiency and multiple sclerosis, among others. Specialty medicines are usually much more expensive than traditional medicines.

Market Overview:


The latest research study on the global Specialty Pharmaceutical market finds that the global Specialty Pharmaceutical market reached a value of USD 561757.11 million in 2022. It’s expected that the market will achieve USD 992228.86 million by 2028, exhibiting a CAGR of 9.95% during the forecast period.

From a production perspective, for the Specialty Pharmaceutical industry, the outbreak has had an impact on the production plans of companies in the Specialty Pharmaceutical industry. Due to the outbreak of COVID-19, the production and operation of raw materials have been affected, such as the production of various pharmaceutical intermediates, APIs and other raw materials are restricted. This could lead to disruptions in the supply of raw materials for the Specialty Pharmaceutical industry, thereby affecting the company's production plans. On the other hand, affected by the new crown pneumonia epidemic, in order to prevent the further spread of the epidemic, the government issued travel restrictions and related isolation policies, which reduced the management efficiency of enterprises in the industry and also affected the company's production plan. In addition, due to the restrictions of the epidemic, the product research and development activities of industry companies have also been affected by a series of reasons such as personnel interruption.

Rising patient demand for specialty medicines

Specialty drugs are high-cost prescription drugs used to treat complex chronic diseases such as cancer, rheumatoid arthritis and multiple sclerosis. In the field of cancer treatment, according to the Globocan 2020 data released by the International Agency for Research on Cancer (IARC) in 2020, it is estimated that there will be 19.3 million new cancer cases and 10 million cancer deaths worldwide in 2020. Due to population growth and aging, the number of cancer cases worldwide will continue to increase in the future. With the advancement of medical care and the increase of people's income, the demand for drugs to treat cancer will continue to increase.

Policy change risk

Medicines are special commodities that prevent and treat diseases and protect people's health. The quality of medicines is directly related to people's health and even the survival of their lives. Therefore, it is necessary to ensure the safety, effectiveness, uniformity and stability of medicines. For example, Specialty Pharmaceutical is vulnerable to the influence of relevant national and local policies, especially the influence of the reform of medical and health care, medical security, and pharmaceutical distribution system. The reform of the three major systems of medical care, medical insurance and drug supply will profoundly change the pattern of Specialty Pharmaceutical, triggering the differentiation and reorganization of the pharmaceutical market. Specialty Pharmaceutical's business is greatly affected by relevant national policies. Therefore, Specialty Pharmaceutical faces certain policy risks.

Region Overview:


United States is projected to account for a considerable share of the Specialty Pharmaceutical market and is expected to become the largest region by 2027.

Company Overview:


Johnson & Johnson is one of the major players operating in the Specialty Pharmaceutical market, holding a share of 7.75% in 2022.

Johnson & Johnson

Johnson & Johnson is an American manufacturer of healthcare products, medical devices and pharmaceuticals with global headquarters in New Brunswick, New Jersey, USA. The Johnson & Johnson Group consists of more than 250 subsidiaries around the world, and its products are sold in more than 170 countries. The company focuses on areas such as Health Care, Medical Devices & Diagnostics, Pharmaceuticals and Consumer.

Abbvie Inc

AbbVie is an American biotechnology company. AbbVie's mission is to discover and deliver innovative medicines to address today's serious health problems and address tomorrow's medical challenges. AbbVie strives to make a significant impact on people's lives in several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology.

Segmentation Overview:


Among different product types, Oncology segment is anticipated to contribute the largest market share in 2027.

Application Overview:


By application, the Specialty Pharmacies segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Specialty Pharmaceutical market covered in Chapter 3:

Eli Lilly
Merck
Abbvie Inc
Bristol Myers Squibb
Novartis
Roche
Johnson & Johnson
Vertex Pharmaceuticals
Sanofi-Aventis
Gilead Sciences
Teva Pharmaceuticals
Novo Nordisk
Amgen
Pfizer
Biogen

In Chapter 4 and Chapter 14.2, on the basis of types, the Specialty Pharmaceutical market from 2018 to 2029 is primarily split into:

Oncology
Inflammatory Conditions
Multiple Sclerosis
Growth Hormone
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Specialty Pharmaceutical market from 2018 to 2029 covers:

Hospitals
Retail Pharmacies
Specialty Pharmacies
Mail Order

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)