There were 176 press releases posted in the last 24 hours and 190,383 in the last 365 days.

United States Specialty Generics Market Size 2021: Industry Overview, Share, Trends, Growth and Forecast Till 2026

SHERIDAN, WYOMING, UNITED STATES, October 12, 2021 / -- According to the recent report by IMARC Group, titled “United States Specialty Generics Market Size: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the United States specialty generics market reached a value of US$ 21 Billion in 2020. Specialty generics refer to the generic variants of branded specialty drugs, which are only developed once the patent expires. These drugs are available only on prescriptions and are utilized to treat chronic medical conditions such as cancer, rheumatoid arthritis, inflammatory bowel disease (IBD), HIV, psoriasis, hemophilia, multiple sclerosis, epilepsy, and hepatitis C. As the prevalence of these diseases is rising gradually in the United States, there is a high demand for specialty generic drugs. Moreover, favorable initiatives by the US Food and Drugs Administration (FDA), such as the breakthrough therapy designation, aimed to smoothen the accessibility to these drugs.

Request for a PDF sample of this report:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

United States Specialty Generics Market Trends:

Specialty generic drugs are more cost-effective than their branded counterparts. This can be accredited to the elimination of time-consuming research and development (R&D) activities and low cost requirements for their marketing and promotion. As a result, they help in reducing the overall cost of the treatment, which has increased the inclination toward these drugs. Apart from this, the rising prevalence of life-threatening diseases and the growing geriatric population are contributing to the growth of the market. According to statistics, the United States is experiencing steady growth in the number of cancer cases. In 2020, an estimated 1,806,590 new cancer cases are expected to be diagnosed among adolescents and young adults (15-39 years) and 606,520 people can die from the disease. With these numbers aggravating every year, the demand for specialty generics will increase subsequently. Additionally, several blockbuster drugs will lose patent protection in the near future, which is creating a positive outlook for the market. Looking forward, IMARC Group expects the market to grow at a CAGR of around 10% during 2021-2026.

Market Summary:
• On the basis of the route of administration, the market has been divided into injectables, oral, and others. Currently, injectables account for the majority of the total market share.
• Based on the therapeutic application, the oncology segment exhibits a clear dominance. Other segments include multiple sclerosis, hepatitis, HIV, other autoimmune diseases, and others.
• On the basis of the distribution channel, the market has been categorized into hospital, retail, and specialty pharmacies. Amongst these, retail pharmacies represent the leading segment.
• The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market.
Market Breakup by Route of Administration:
• Injectables
• Oral
• Others

Market Breakup by Therapeutic Application:
• Oncology
• Hepatitis
• Multiple Sclerosis
• Other Autoimmune Diseases
• Others

Market Breakup by Distribution channel:
• Retail Pharmacies
• Specialty Pharmacies
• Hospital Pharmacies

Ask Analyst for Customization and Explore full report with TOC & List of Figures:

We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:
• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Reports by IMARC Group:

Heavy-Duty Automotive Aftermarket Market:

Oxo Alcohol market:

GCC Oral Hygiene Market :

Gluten-Free Products Market:

Battery Management System Market:

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here