Global Speciality Generics Market Report and Forecast 2024-2032

Global Speciality Generics Market Outlook

The global speciality generics market size reached a value of almost USD 64.06 billion in the year 2023. The industry is further expected to grow at a CAGR of 12% between 2024 and 2032 to reach a value of almost USD 177.65 billion by 2032.

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The global speciality generics market is driven by the research and development activities, globally. North America is the leading regional market for speciality generics, bolstered by the increasing cases of chronic and complex health conditions such as cancer, epilepsy, HIV, autoimmune diseases, Hepatitis, multiple sclerosis, and rheumatoid arthritis in the region. Speciality generics offer a cost-effective alternative to the branded versions as they do not require costly development and marketing costs, which is further aiding the industry growth.

Market Segmentation

Speciality generics are referred to as off-patented drugs, which are used to treat chronic or complex health conditions. These drugs require special handling, monitoring, and usually require prior authorisation to order them. Currently, speciality generics are gaining enormous popularity as they are utilised to treat rare chronic diseases like HIV AIDS, cancer, rheumatoid arthritis, and haemophilia.

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The speciality generics market is segmented on the basis of route of administration:

• Injectable
• Oral
• Others

Currently, injectables dominate the market across the globe.

On the basis of indication, the speciality generics market is categorised into:

• Oncology
• Autoimmune Diseases
• Infectious Diseases
• Others

Among all of these, oncology accounts for the majority of the global market share.

On the basis of distribution channel, the industry is divided into:

• Retail Pharmacies
• Speciality Pharmacies
• Hospital Pharmacies
• Others

Presently, the products are majorly distributed through the medium of speciality pharmacies.

The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global speciality generics market is driven by the supporting policies and regulations by the governments of several countries to help in the production of speciality generics. In addition to this, speciality generic drugs are less expensive to produce and manufacture as compared to newly patented drugs, as they are not required to go through any clinical trials and approval prior to entering the industry. On account of this, these products offer low risk and high margins in comparison to newly patented drugs, which generally take about 3- 4 years in product development and approval. 
 
The industry is further aided by the rising research and development (R&D) activities to create new and innovative formulations that offer more efficient and cost-effective options as compared to their branded counterparts. Moreover, many companies are expanding their capacities as they are getting involved with mergers and acquisitions (M&A). For instance, Alvogen, a pharmaceutical company, acquired County Line Pharmaceuticals, a company committed to the formulation of speciality generics.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global speciality generics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Teva Pharmaceutical Industries Ltd.
• Mylan N.V.
• Mallinckrodt plc
• Pfizer, Inc.
• Sun Pharmaceutical Industries Ltd
• Apotex Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report