United States Speciality Generics Market to Grow at a CAGR of 9.6% During 2024-2032, Aided by the Growing Healthcare Spending

The United States speciality generics market benefits from the growth of the healthcare sector and increasing healthcare expenditure in the country. Speciality drugs are medications with intricate chemical compositions and delivery methods, necessitating specialized handling, supervision, or administration. They typically result from intensive research and development efforts. Speciality generics, on the other hand, are generic versions of these branded drugs available after their patents expire. These prescription medicines address chronic conditions like cancer, psoriasis, HIV, and rheumatoid arthritis, requiring specific treatments.

In 2022, the United States healthcare spending reached USD 4.5 trillion, growing 4.1% from the previous year. This amounts to USD 13,493 per person. Health spending accounted for 17.3% of the nation's Gross Domestic Product.

The increasing incidences of HIV contribute to the demand for speciality generics. In 2021, the US recorded 1.09 million individuals living with HIV, with 36,126 new diagnoses. This uptick underscores the need for HIV medications to address both new and existing cases. Notably, males constituted 76.9% of HIV-positive patients in 2021, while individuals aged 55 and above represented the largest age group in the same year.

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Market Breakup by Route of Administration, Therapeutic Application, and Distribution Channel:

• The market is segmented based on the route of administration into injectables, and oral, among others.

• Based on therapeutic application, the market can be divided into oncology, hepatitis, multiple sclerosis, HIV, and other autoimmune diseases, among others.

• Based on the distribution channel, the market is divided into retail pharmacies, speciality pharmacies, and hospital pharmacies.

Key Findings of the Report:

• Factors such as increasing healthcare spending and rising prevalence of chronic conditions are supporting the market growth.

• The market for speciality generics in the United States benefits from the increasing investments in the healthcare and pharmaceutical sectors.

• The surge in HIV cases, with 1.09 million individuals living with HIV in 2021 and 36,126 new diagnoses, contributes to the demand for speciality generics.

Key Offerings of the Report:

• The EMR report gives an overview of the United States speciality generics market for the periods (2017-2023) and (2024-2032).

• The report also offers historical (2017-2023) and forecast (2024-2032) market information for the route of administration, therapeutic application, and distribution channel of speciality generics.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States speciality generics market are Akorn, Inc., USA Pharmaceuticals & Sports Science, and Amneal Pharmaceuticals LLC., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.