A recent report on Specialty Pharmaceuticals Market provides a detailed analysis of the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and the latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
Scope of Specialty Pharmaceuticals Market-
Specialty pharmaceuticals are also referred as specialty drugs that are classified as high-cost, high complexity and high touch. These drugs derived from living cells that are injectable or infused throughoral, parenteral and transdermal medications. In fact, specialty pharmaceuticals have rapidly growing share of total drug expenditures by public and private health plans. These drugs are mainly used to treat serious, chronic or life-threatening conditions such as cancer, growth hormone deficiency, rheumatoid arthritis and multiple sclerosis. Specialty drugs are more expensive than traditional drugs.These pharmaceuticals consist of many of the latest advance treatments for a range of serious conditions like rheumatoid arthritis, HIV and cancer. Many specialty pharmaceuticals are possible to improve both life expectancy and quality of life for patients.
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Global Specialty Pharmaceutical Market report is segmented on the basis of therapeutic area, route of administration, distribution channel and by regional & country level. Based upon therapeutic area, global specialty pharmaceuticals market is segmented into oncology, inflammatory conditions, multiple sclerosis and other disease indications. Based upon route of administration, the market is segmented into oral, parenteral and transdermal. Based upon distribution channel, global specialty pharmaceuticals market is segmented into hospitals, retail, specialty pharmacies and mail order.
The regions covered in this specialty pharmaceutical market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of specialty pharmaceutical is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players Specialty Pharmaceuticals Market
Global Specialty Pharmaceutical market report covers prominent players
• Pfizer Inc.
• Amgen Inc.,
• Teva Pharmaceutical Industries Ltd.,
• Otsuka America Pharmaceutical, Inc.,
• rEVO Biologics, Inc. ,
• AbbVie Inc. Gilead,
• Janssen Global Services,
• LLC and others.
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Specialty Pharmaceuticals Current News-
Teva and Celltrion Healthcare Announced U.S. Availability of HERZUMA (trastuzumab-pkrb) for Injection
March 16th, 2020;Teva and Celltrion Healthcare launched that HERZUMA (trastuzumab-pkrb) for Injection like a biosimilar to HERCEPTIN in the United States with the same indications as the reference product including adjuvant breast cancer, metastatic breast cancer and metastatic gastric cancer. The HERZUMA is continuously used to helps lower healthcare costs and increase price competition through the availability of biosimilars product. Teva is continuing to invest in biopharmaceuticals as part of its long-term strategy for the future and to help patients around the world.
Specialty Pharmaceuticals Market Dynamics–
Rising spending on pharmaceutical and launch of high number of novel specialty drugs are the major factors driving the market growth. According to National Conference of State Legislatures, as of 2015, about 36% of total pharmaceutical spending in the commercial market was devoted to specialty medications. According to The Centers for Medicare & Medicaid Services (CMS), projects sustained increases in drug spending of 6% or more annually from 2015 to 2022, as both drug prices and utilization increase. According to IMS Institute for Healthcare Informatics, about 42% of drugs in the late stage of the FDA approval process were specialty medications. For Instance, Humira is one of the world’s best-selling drugs. In fact, overall global sales for Humira in 2018 reached close to USD 20 billion, with over USD13 billion coming from the U.S. market.
However, the cost of treating a patient with specialty pharmaceuticals can exceed tens of thousands of dollars per year. Thus, require special handling or delivery mechanisms, high cost of specialty pharmaceuticals may be the major restrains for the market growth. As per NCSL, specialty pharmaceuticals carried high cost, such as USD 600 per month. For instance, new drug therapy to help a wide range of patients suffering from many different medical conditions, rare disorders to common diseases approved by FDA’s Center for Drug Evaluation and Research’s (CDER’s) in 2017.In spite of that, technological advancements and improvement in pharmacy benefit management (PBM) and healthcare plans may generate new opportunities for the further growth of the market.
Key Benefits for Global Specialty Pharmaceuticals Market Report–
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
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Specialty Pharmaceuticals Market Segmentation:–
ByTherapeutic Area: (Oncology, Inflammatory conditions, Multiple sclerosis, Growth hormone, Other disease conditions)
ByRoute of Administration: (Oral, Parenteral, Transdermal)
ByDistribution Channel: (Hospitals, Retail Pharmacies, Specialty Pharmacies, Mail Order)
By Regional & Country Analysis: (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Specialty Pharmaceuticals Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Specialty Pharmaceuticals Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Specialty Pharmaceuticals Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis
3. Chapter – Global Specialty Pharmaceuticals Market Overview: Quantitative Analysis
4. Chapter – Global Specialty Pharmaceuticals Market Analysis: Segmentation By Type
5. Chapter – Global Specialty Pharmaceuticals Market Analysis: Segmentation By Application
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