Specialty Pharmaceuticals Market Estimated to Record Highest CAGR by 2024

Based on therapeutic area, specialty pharmaceuticals market is segmented into oncology, inflammatory conditions, multiple sclerosis and other disease indications. Among them, oncology occupies the major market share followed by inflammatory conditions. According to WHO, cancers are the leading cause of mortality and morbidity worldwide with an incidence of 14 million cancer cases and 8.2 million cancer-related deaths.


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In inflammatory disease condition, rheumatoid arthritis occupies the significant market share for the specialty pharmaceuticals when compared with other inflammatory disease conditions. The higher cost of the drugs is hindering the growth of the specialty pharmaceuticals market. Based on the route of administration, the specialty pharmaceuticals market is segmented into oral, parenteral and transdermal. Parenteral route occupies the major market share followed by the oral route.

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On the basis of the distribution channel, specialty pharmaceuticals market is segmented into hospitals, retail, specialty pharmacies and mail order. Hospitals occupy the major pie in the specialty pharmaceutical products this is mainly due to the availability of these drugs over prescription. Other than hospitals, retail pharmacies, and specialty pharmacies are also have good market share during the forecast period. However, during the forecast period, specialty pharmacies are expected to occupy the major market share when compared with retail pharmacies over the forecast period.

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Based on geography, specialty pharmaceuticals market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. North America accounts the significant market share due to high buying power and reimbursement for the specialty pharmaceuticals are the major factors boosting the growth of this market during the forecast period. Asia Pacific specialty pharmaceuticals market is expected to grow over the forecast period owing to the growth of biopharmaceutical industry in China and India.

Major players in the specialty pharmaceuticals market include Teva Pharmaceuticals, Abbvie Inc, Amgen, Johnson & Johnson, Celgene, Gilead Sciences, Roche are the key players in the market. Top 10 U.S specialty pharmaceuticals itself generated around $ 37B revenue in 2012. In U.S specialty pharmaceuticals, Humira is one of the top-selling specialty pharmaceutical drug and it accounted $4.4B in 2012 and expected to dominate the market till 2018.

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