Global Specialty Pharmaceuticals Market is expected to be USD 568 Billion by 2026.
Specialty pharmaceuticals are regarded to be a drug molecule that helps in the treatment of particular genetic conditions that have no therapeutic action on the market. Specialty Pharmaceuticals considered to be more targeted drugs than traditional drugs and are also less toxic. Specialty pharmaceutical consists of products like blood-derived, biopharmaceuticals, and complex molecules.
Specialty pharmaceuticals are high cost and complex drugs; the average price per patient per year for specialty medical therapy is about $35,000 to $75,000. Specialty pharmaceutical is used to treat rare diseases such as Hepatitis C, Cancer, Rheumatoid Arthritis, AIDS (Acquired Immunodeficiency Virus Syndrome), Crohn's disease, etc.
Specialty pharmacy is multiplying and becoming a significant factor for health systems and producers across the United States. The FDA approved 21 new molecular entities in the second half of 2018. Out of these products, 12 (57%) are regarded as pharmaceutical specialties based on variables such as indication and designed use population, administrative and tracking considerations, price and/or restricted delivery procedures. In the last five years, the United States spending on specialty drugs has almost doubled.
Oncology, Autoimmune, and Immunology are among the most significant application of global specialty pharmaceutical market
The report studies the market for the following application segments: Oncology, Autoimmune, Immunology, HIV, Multiple Sclerosis, Viral Hepatitis, Blood Coagulation, Respiratory, Osteoporosis, and Others. Due to the rising cases of oncology globally, Oncology is the leading application segment in this market place.
Specialty Pharmaceutical Market Share is expected to cross half of the global pharmaceutical market
The global pharmaceutical market is segmented by two types: traditional pharmaceutical and specialty pharmaceutical. At present, traditional pharmaceutical is in the dominating position across the globe, but due to increasing demands of specialty pharmaceutical products, it is anticipated that specialty pharmaceuticals will lead during the forecast period.
Teva Pharmaceutical, CVS Health, Endo International, UnitedHealth Group Incorporated, Recordati Pharmaceuticals are some of the companies that deal efficiently in the specialty pharmaceuticals business. These companies have been studied thoroughly in the report.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Global Specialty Pharmaceuticals 4.1 Market 4.2 Specialty Drug Pipeline
5. Market Share - Specialty Pharmaceutical Analysis 5.1 By Country 5.2 By Pharmaceutical Industry 5.3 By Application 6. Global Pharmaceuticals Analysis 6.1 Total Market 6.2 Traditional Pharmaceutical Market
7. Country - Specialty Pharmaceutical 7.1 United States 7.1.1 Market 7.1.2 Specialty Drug Pipeline 7.2 Top 5 European Country 7.3 United Kingdom 7.4 France 7.5 Germany 7.6 Italy 7.7 Spain 7.8 Japan 7.9 South Korea
9. Market Dynamics 9.1 Growth Drivers 9.1.1 Improving Life Expectancy 9.1.2 Surge in Spending on Medicines 9.1.3 Prevalence of Chronic Disease 9.2 Key Challenges 9.2.1 Abandonment Rates for Specialty Medicines & High R&D Costs
10. Trend and Opportunities 10.1 Trends 10.1.1 Increased Spending on Specialty Pharmacy 10.1.2 A Generic Wave of Specialty Drugs 10.1.3 An Ever-expanding Pipeline of Products 10.1.4 Targeted Therapies to Emerge 10.1.5 Healthcare Reforms to Take Control 10.1.6 Growth of Co-Pay Programs 10.1.7 Medication Therapy Management (MTM) will Advance 10.1.8 Specialty Prescribing to Rise 10.1.9 Real-Time Pharmacy Benefit 10.2 Opportunities 10.2.1 Leverage the Changing Face of Specialty Pharmacy Industry with Flat world Solutions
11. Specialty Pharmacy Mergers and Acquisitions
12. Company Analysis 12.1 Teva Pharmaceutical Industries Ltd 12.1.1 Overview 12.1.2 Recent Developments 12.1.3 Revenue 12.2 CVS Health 12.3 Endo International Specialty Products 12.4 UnitedHealth Group Incorporated 12.5 Recordati Pharmaceuticals Ltd