According to the latest Renub Research report, titled “Specialty Pharmaceuticals Market in the United States & forecast by application (oncology, autoimmune, immunology, HIV, multiple sclerosis, hematology, AMD, HGH, others), companies ” The growing aging population is fueling the US specialty pharmacy market. More than 20% of the US population is over 65, and that age number is expected to increase by 2026. Apart from that, increasing purchasing power and access to health care and to quality pharmaceuticals for poor families and the growing middle class of the specialty pharmaceutical industry in the United States. Growth engines for specialty pharmacy include new drugs on the market, expansion of hospital pharmacies and more chronic disease diagnostics. According to Renub Research Analysis, the US specialty pharmaceutical market is expected to reach $ 387 billion by 2026.
The US pharmaceutical market is divided into two main types of drugs namely traditional drugs and specialty drugs. In recent years, specialty drugs have gained a strong foothold in the United States. Specialty drugs are intended for life-threatening and rare chronic diseases. Drugs in this category are difficult to administer and very expensive. In addition, these drugs require good management and exceptional handling, which makes them expensive. As a considerable portion of the population of the United States ages in diseases like cancer and other life-threatening chronic diseases, the demand for specialty drugs has skyrocketed in recent years. Because of this the world’s largest pharmaceutical companies are directing their research and development initiatives in the specialty drug.
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Over the past decade, the US specialty pharmaceutical market has changed, with many specialty drugs in their final stages of development. The US Specialty Pharmaceuticals market will experience accelerated growth over the next few years, mainly due to factors such as improving life expectancy, aging US population, increasing actual spending net per capita in specialty drugs and high prevalence of chronic disease. In the region. About 50% of all new specialty drugs approved by the FDA in 2018 were originally developed by companies other than those that received the approval.
Market growth is likely to be challenged by the discontinuation rate of specialty drugs and high R&D costs. The top five pharmaceutical companies covered by the report are UnitedHealth Group Incorporated, Recordati Pharmaceuticals, CVS Health and Endo International.
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By application: The market and pipeline of Oncology, Autoimmunity, Immunology, HIV, Multiple Sclerosis, Hematology, Age-Related Macular Degeneration (AMD), Other human growth hormones (HGH) are covered in this research report.
By company: Company overview, products / initiatives and financial overview of CVS Health, Endo International, UnitedHealth Group Incorp and Recordati Pharmaceuticals are presented in this research report.
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