United States Speciality Generics Market Report and Forecast 2024-2032

United States Speciality Generics Market Outlook

The United States speciality generics market attained a value of almost USD 26.28 billion in the year 2023. The market is further expected to grow at a CAGR of 9.6% between 2024 and 2032 to reach a value of almost USD 59.97 billion by 2032.

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The United States speciality generics market is driven by the rising prevalence of chronic diseases. The industry has witnessed a huge growth in the United States, owing to a growing number of rare disease cases. The industry is thriving in the country with the launch of products by many key industry players, in confluence with the favourable initiatives undertaken by the US FDA like the Breakthrough Therapy, which aims to expand and smoothen the accessibility of these drugs to patients.

Properties and Applications

Speciality drugs are referred to as drugs that require special handling, supervision, or administration. These drugs usually have complex chemical structures and delivery mechanisms, often requiring extensive research and development (R&D). Speciality generics are the generic variants of such branded drugs that have lost the protection of their patent. These prescription medicines are used in the treatment of chronic medical conditions such as cancer, psoriasis, epilepsy, HIV, hepatitis C, multiple sclerosis, rheumatoid arthritis, haemophilia, and inflammatory bowel disease (IBD).

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The industry is segmented on the basis of route of administration into:

• Injectables
• Oral
• Others

Among these, injectables represent a clear dominance in the industry.

On the basis of therapeutic application, the industry is divided into:

• Oncology
• Hepatitis
• Multiple Sclerosis
• HIV
• Other Autoimmune Diseases
• Others

Currently, oncology holds the majority of the speciality generics market share in the United States.

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

• Retail Pharmacies
• Speciality Pharmacies
• Hospital Pharmacies

At present, retail pharmacies hold the dominant position in the industry.

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Market Analysis

The speciality generics industry in the United States is driven by the rising prevalence of several life-threatening diseases, such as cancer and HIV. In addition to this, an increase in the geriatric population throughout the United States has led to the incidences of several complex diseases, which, inadvertently, is creating a positive outlook for the speciality generics industry. Also, as the manufacturing process of speciality generic drugs does not include marketing and development costs, they are available in the industry at a more affordable price point as opposed to their branded counterparts, which is further propelling the growth of the industry.

Competitive Landscape

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

• Akorn, Inc.
• USA Pharmaceuticals & Sports Science
• Amneal Pharmaceuticals LLC.
• 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