Market Research Report
U.S. Specialty Injectable Generics Market Analysis By Therapeutic Use (Oncology, Cardiovascular, Central Nervous System, Infectious Diseases, Autoimmune Disorders), And Segment Forecasts, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||600800|
|Published||Content info||76 Pages
Delivery time: 1-2 business days
|U.S. Specialty Injectable Generics Market Analysis By Therapeutic Use (Oncology, Cardiovascular, Central Nervous System, Infectious Diseases, Autoimmune Disorders), And Segment Forecasts, 2014 - 2025|
|Published: November 2, 2017||Content info: 76 Pages||
The U.S. specialty injectable generics market is expected to reach USD 27.8 billion by 2025, according to a new report by Grand View Research, Inc. High demand for cost-effective drugs for the treatment of cancer, autoimmune diseases, hepatitis, and infectious diseases is expected to create huge opportunities for manufacturers of specialty injectable generics. This has also encouraged many insurance companies to provide reimbursement for these products due to their low cost. According to FDA, generic drugs cost 80% to 85% lesser than branded drugs.
The affordability of these products can be attributed to elimination of certain processes, such as clinical trials, advertising, and other promotional activities. Moreover, in certain cases, a group of generic manufacturers receive approval for the commercialization of a single product. This creates pricing pressure and elevates competition, thereby resulting in the availability of cost-effective generics.
In addition, existing branded specialty injectables are expensive, thus limiting their adoption in the previous years. Increasing penetration of generic versions of these drugs and the entry of a large number of companies into the market has increased price competition, and this has resulted in the availability of drugs at affordable prices for patients. This has positively impacted emerging & price-sensitive countries and raised the demand for specialty injectable generics in the U.S.