Specialty Generics Global Market Report 2022: Ukraine-Russia War Impact

NEW YORK, Dec. 21, 2022 /PRNewswire/ --

Major players in the specialty generics market are Teva Pharmaceutical Industries Ltd, Endo International plc, Akorn Operating Company LLC , Mylan N.V., Mallinckrodt Pharmaceuticals, Sandoz, Pfizer Inc, Sun Pharmaceutical Industries Limited, Bausch Health Companies Inc, Apotex Inc, Novartis, Fresenius Kabi Brasil Ltd, Stada Arzneimittel AG, Hikma Pharmaceuticals plc and Viatris Inc.



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The global specialty generics market is expected to grow from $64.42 billion in 2021 to $75.12 billion in 2022 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The specialty generics market is expected to grow to $116.63 billion in 2026 at a CAGR of 11.63%.

The specialty generics market consists of sales of biologics and biosimilars.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

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.

North America was the largest region in the specialty generics market in 2021.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 and Africa.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values â€" that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The main route of administration of specialty generics are injectables, oral, and other route of administration.The injectables route of administration of specialty generics are utilized for various routes of drug administration, such as intravenous, subcutaneous, intradermal, intraperitoneal, intramuscular, and others to treat medical conditions ranging from cancer to autoimmune disorders.

A hollow hypodermic needle is used to introduce a substance into the bloodstream during drug injection. The specialty generics areused during the indication of oncology, autoimmune diseases, infectious diseases and other indication that are distributed through multiple channel which are retail pharmacies, specialty pharmacies, and hospital pharmacies.

The increasing prevalence of chronic diseases is expected to propel the demand for the specialty generic market.Chronic diseases are long-lasting sicknesses that often cannot be healed.

However, it is occasionally curable and controllable.The changing lifestyle, eating habits, and not maintaining body weight are the reason for chronic conditions; a few more prolonged chronic infections lead to cancerous risk.

Growing exposure to these diseases raises the need for specialty generic for a patient to treat complex chronic diseases.For instance, In September 2020, a research report published by American Action Forum identified that the prevalence and cost of chronic disease in the United States are growing and will continue to rise as the disease prevalence among young people and children rises.

The increasing total cost of chronic disease in the United States reaches $3.7 trillion each year, approximately 19.6 percent of its gross domestic product, making it a severe issue in healthcare. Therefore increasing prevalence of chronic diseases is driving the growth of the specialty generic market.

Technological advancements have emerged as a key growth trend in the specialty generics market.New designs and technology are changing the way in which specialty generic products are being conducted.

For instance, In July 2020, Sol-Gel Technologies, Ltd., a clinical-stage dermatology company that focuses on finding, developing, and commercialising branded and generic topical drug products for the treatment of skin diseases, launched TWYNEO, a topical cream for the treatment of acne vulgaris in adults and paediatric patients nine years of age and older. The combination of both medications into one product with a gradual release onto the skin is made possible by the patented microencapsulation technology in TWYNEO Cream, which separates and encases the active ingredients in silica core shells (microcapsules). This safeguards tretinoin from the oxidising effects of BPO. TWYNEO contains a fixed-dose combination of tretinoin, 0.1%, and benzoyl peroxide (BPO), 3%.

In November 2020, ZNZ Pharma 2, a London-based biopharmaceutical platform acquires 74% stake in Celon Laboratories for Rs 364 crore ($45.8 Million). This acquisition is aimed to construct a critical care and oncology oral and injectables manufacturing facility. Celon Laboratories is a India-based specialty generics company.

The countries covered in the specialty generics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The specialty generics market research report is one of a series of new reports that provides specialty generics market statistics, including specialty generics industry global market size, regional shares, competitors with a specialty generics market share, detailed specialty generics market segments, market trends and opportunities, and any further data you may need to thrive in the specialty generics industry. This specialty generics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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