Global Specialty Generics Market 2024, Forecast To 2033
26 Feb, 2024
The specialty generics market has witnessed rapid growth, increasing from $85.85 billion in 2023 to $96.94 billion in 2024, with a CAGR of 12.9%. Historical growth is linked to patent expirations, the demand for cost-effective alternatives, and regulatory support for generic drug approvals. Forecasts suggest continued rapid growth to $164.57 billion in 2028, with a CAGR of 14.1%. The projected growth is fueled by the expansion of the biosimilars market, complex generic drug development, and the adoption of 3D printing in specialty generic manufacturing.
Global Specialty Generics Market Key Driver
The specialty generic market is witnessing increased demand due to the surge in chronic diseases. Non-communicable diseases (NCDs) account for 74% of 41 million annual deaths globally. The need for specialty generics to treat complex chronic diseases is on the rise.
Get A Free Sample Of The Global Specialty Generics Market ReportGlobal Specialty Generics Market Segments
The specialty generics market covered in this report is segmented –
1) By Route Of Administration: Injectables, Oral, Other Route Of Administration
2) By Indication: Oncology, Autoimmune Diseases, Infectious Diseases, Other Indication
3) By Distribution Channel: Retail Pharmacies, Specialty Pharmacies, Hospital Pharmacies
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the specialty generics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the specialty generics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Specialty Generics Industry Players
Teva Pharmaceutical Industries Ltd.; Endo International plc; Akorn Operating Company LLC ; Mylan NV; Mallinckrodt Pharmaceuticals; Dr. Reddy’s Laboratories Ltd.; Apotex Corp.; Fresenius Kabi Brasil Ltda; STADA Arzneimittel AG; Cipla Limited; Lupin Ltd; Aurobindo Pharma Limited; Aspen Pharmacare Holdings Limited; Pfizer Inc.; Accord Healthcare Limited; Amneal Pharmaceuticals Inc.; Sandoz International GmbH; Zydus Lifesciences Ltd.; Torrent Pharmaceuticals Ltd.; Perrigo Company plc; Impax Laboratories Inc.; Par Pharmaceutical Companies Inc.; Alvogen; Alkem Laboratories Ltd.; Wockhardt Ltd.; Strides Pharma Science Limited; Indoco Remedies Ltd.; Unichem Laboratories Ltd.; Alembic Pharmaceuticals Ltd.; Jubilant Life Sciences Ltd.
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Specialty Generics Market Overview
The specialty generics refer to generic versions of drugs used to describe expensive, intricate, or high-touch generic versions of medications. It requires substantial service participation to manage. This specialty generic includes biologics and biosimilars, which have separate regulatory routes. The majority of specialty medications are used to treat various malignancies, rheumatoid arthritis, and multiple sclerosis.
Specialty Generics Global Market Report 2023 provides data on the global specialty generics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The specialty generics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.