Surge In Chronic Diseases Spurs Demand For Specialty Generics Market: Strengthening the Growth Trajectory of the Specialty Generics Market

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Is the Expected CAGR for the Specialty Generics Market Through 2025?
The market size of specialty generics has seen a substantial surge in recent years. The sector expects to expand from a worth of $95.87 billion in 2024 to $107.14 billion in 2025, echoing a compound annual growth rate (CAGR) of 11.7%. This growth in the historic period is credited to factors such as the expiry of patents for branded medications, an escalating demand for economically feasible options, regulatory bodies' encouragement for generic drug approvals, escalating financial burdens in healthcare, increasing cases of chronic illnesses, and a growing elderly populace.

What's the Projected Size of the Global Specialty Generics Market by 2029?
Over the coming years, the specialty generics market is projected to experience a significant surge, expanding to a whopping $185.68 billion by 2029 with a compound annual growth rate (CAGR) of 14.7%. Driving factors behind the forecasted growth include the widening biosimilars market, focus on developing intricate generic drugs, heightened interest in specialty generic injectables, adoption of 3D printing for manufacturing specialty generics, and the burgeoning speciality generics market in emerging economies. Key trends expected to define this period include bespoke and targeted specialty generics, cooperative efforts, and strategic partnerships in generic drug development, push towards developing abuse-deterrent formulations, integration of cutting-edge digital health technology in specialty generics, and regulatory measures aimed at fast-tracking approval for complex generics.

View the full report here:
https://www.thebusinessresearchcompany.com/report/specialty-generics-global-market-report

Top Growth Drivers in the Specialty Generics Industry: What's Accelerating the Market?
The rising prevalence of chronic illnesses is likely to fuel the demand for the specialty generic market. These persistent diseases, often incurable, can occasionally be treated and managed. Factors such as changing lifestyle, dietary habits, and failure to maintain body weight contribute to chronic illnesses, with some prolonged ones leading to an increased risk of cancer. As exposure to these diseases grows, the necessity for specialty generics becomes vital for the treatment of such complex chronic conditions. For example, the World Health Organization, a specialized Switzerland-based agency of the United Nations, reported in September 2022 that 41 million deaths, accounting for 74% of all deaths, were due to non-communicable diseases (NCDs) or chronic diseases every year worldwide. Cardiovascular diseases claimed 17.9 million lives, cancer claimed 9.3 million, chronic respiratory diseases caused 4.1 million deaths, and diabetes resulted in 2.0 million deaths. Thus, the rising incidence of chronic diseases propels the growth of the specialty generic market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7781&type=smp

What Trends Will Shape the Specialty Generics Market Through 2029 and Beyond?
In the specialty generic market, prominent companies are gaining approvals like Lisdexamfetamine Dimesylate to meet the urgent demand for medication. Specialty generics' endorsement implies the regulatory sanction given to pharmaceutical products that are bioequivalent and therapeutically akin to specialty branded drugs, typically used to treat convoluted or rare illnesses, following the cessation of their patent protection. For instance, in August 2023, Mallinckrodt plc, a specialty pharmaceutical company based in Ireland, achieved FDA approval for its Lisdexamfetamine Dimesylate Capsules in its SpecGx LLC Specialty Generics division, to address Attention-Deficit/Hyperactivity Disorder (ADHD). Lisdexamfetamine Dimesylate is a variety of specialty generic, and a federally regulated substance (CII) employed for the treatment of ADHD among other conditions.

What Are the Main Segments in the Specialty Generics Market?
The specialty generics market covered in this report is segmented -

1) By Route Of Administration: Injectables, Oral, Other Route Of Administration
2) By Indication: Oncology, Autoimmune Diseases, Infectious Diseases, Other Indication
3) By Distribution Channel: Retail Pharmacies, Specialty Pharmacies, Hospital Pharmaciesx

Subsegments:
1) By Injectables: Intravenous (IV) Injectables, Intramuscular (IM) Injectables, Subcutaneous (SC) Injectables
2) By Oral: Tablets, Capsules, Liquid Formulations
3) By Other Route Of Administration: Topical, Transdermal, Inhalation

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7781&type=smp

Which Top Companies are Driving Growth in the Specialty Generics Market?
Major companies operating in the specialty generics market include Teva Pharmaceutical Industries Ltd., Endo International plc, Akorn Operating Company LLC, Mallinckrodt Pharmaceuticals, Dr. Reddy's Laboratories Ltd., Fresenius Kabi Brasil Ltda, STADA Arzneimittel AG, Cipla Limited, Lupin Ltd, Aurobindo Pharma Limited, Aspen Pharmacare Holdings Limited, Pfizer Inc., Accord Healthcare Limited, Amneal Pharmaceuticals Inc., Sandoz International GmbH, Zydus Lifesciences Ltd., Torrent Pharmaceuticals Ltd., Perrigo Company plc, Impax Laboratories Inc., Par Pharmaceutical Companies Inc., Alvogen, Alkem Laboratories Ltd., Wockhardt Ltd., Strides Pharma Science Limited, Indoco Remedies Ltd., Unichem Laboratories Ltd., Alembic Pharmaceuticals Ltd., Jubilant Life Sciences Ltd.

Which Regions Will Dominate the Specialty Generics Market Through 2029?
North America was the largest region in the specialty generics market in 2024. 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, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7781

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795,
Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
Email:saumyas@tbrc.info
The Business Research Company -www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn:https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.