Frequently Asked Questions
The global specialty generics market was valued at USD 69158.6 Million in 2022.
The specialty generics market is expected to grow at a CAGR of 10.3% between 2023 and 2030, reaching USD 151513.1 Million in 2030.
Injectable drugs are the leading segment by drug class, holding over 30% share in value in 2022.
The injectable segment governs the global demand for specialty generics, holding a massive market share of over 28% in 2022.
The cancer and respiratory diseases segment will post the highest CAGR over the projection period.
North America is driving the rapid growth of the specialized generics industry, accounting for more than one-third of its market share in 2022.
The top players include Teva Pharmaceuticals Industries Ltd, Novartis AG, Bausch Health Companies Inc, Endo Pharmaceuticals Inc, Viatris Inc, Fresenius Kabi Brasil Ltd, Apotex Corp., STADA Arzneimittel AG, Dr. Reddy’s Laboratories Ltd, Hikma Pharmaceuticals PLC, Sun Pharmaceutical Industries Ltd, and Others.
Major market drivers are the increasing demand for cost-effective medications, growth in biosimilars, advancements in biopharmaceuticals, rising prevalence of chronic diseases, and expanding access to healthcare.
Major market restraints of the specialty generics industry include stringent regulatory requirements and approval processes, intellectual property challenges and legal disputes, supply chain complexities, price competition, and the high cost of research and development for complex formulations.
Major market opportunities in the specialty generics industry include expanding into emerging markets, focusing on rare diseases and orphan drugs, leveraging data analytics for informed decision-making, developing innovative drug delivery systems, and capitalizing on the global trend of personalized therapies.