Published on : Jan 02, 2018
ALBANY, New York, Jan 02, 2018: The prestigious reports repository of ResearchMoz.us now contains a business and commerce study on the evolving market for specialty pharmaceutical, customized for the country of the U.S. The report, titled “The US Specialty Pharmaceutical Market: Industry Analysis & Outlook (2017-2021),” aspires to act as a decision making tool for the vendors operating in the pharmaceutical industry, contract manufacturing organizations, government agencies, investment banks, and research and development academics. Beginning with a crisp executive summary, the report provides comprehensive analysis of all major factors that will define the demand for specialty pharmaceutical in the near future. A number of cities and states have been evaluated for the way the demand has evolved in the past and where it is headed. To finish a complete study, the report represents the competitive landscape by profiling some of the prominent companies operating in the global specialty pharmaceutical market.
It must be noted that only a few specialty drugs were available during the 1990s but since then, the extended research and development has led to 22 drugs that are now approved by the Food and Drugs Administration (FDA), and the trend is expected to continue in the future too.
One of the primary driver augmenting the demand in the US specialty pharmaceutical market is the radical escalation in the percentage of geriatric population in the country, which is estimated to reach nearly hundred million by 2060 by the Population Reference Bureau. Geriatrics invariably suffer from some disease or the other and most of them are chronic, which leads to the requirement of specialty therapies. With increased disposable income and robust reimbursement policies, the healthcare infrastructure in the country is better than most other nations and the U.S. specialty pharmaceutical market is expected to remain in good health.
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Improved life expectancy, escalation in the per capita health expenditure in the country, surge in spending on medicines, and prevalence of a number of chronic diseases in the developed country are some of the key factors driving the demand in the U.S. specialty pharmaceutical market. On the other hand, high cost of these drugs, growing abandonment rates of branded medicines for local medicines, complexities in terms of manufacturing and storing, and substantially high cost of research and development of specialty pharmaceutical are obstructing the market from attaining its true potential. The challenge of the patients to consume proper medication all by themselves, particularly for geriatrics, is another restraint over the prosperity of the market. Nevertheless, the report also highlights a few trends such as technology enabled transformation, growing foothold on oncology segment, and specialty pharmacy mergers and acquisitions which will open new opportunities in the market.
In the past half a decade, the U.S. market for specialty pharmaceutical has changed quite a bit as a number of these drugs reach final phase of development and reflecting to a staggering growth. The report contains tables with essential information such as key application areas of specialty pharmaceutical, the difference between specialty distribution and other pharmacies, identifies top ten drugs manufacturers as of 2016, throws light on the mergers and acquisition activities, compares revenue generated by major players, and analyzes the key product developments in the recent times.
The analysts of the report have given strong emphasis on represent the competitive landscape of the U.S. specialty pharmaceutical market, profiling some of the prominent names including AbbVie Inc., Celgene Corporation, Amgen Inc., and Gilead Sciences Inc. For each of these companies, the report provides business overview, financial might, and recent strategic decisions.
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