The US pharmaceutical market is segregated into two types of drugs majorly i.e. traditional drugs and specialty drugs. Specialty drugs in recent times have gained a strong foothold in the US and are likely to experience robust growth in the coming years, with majority of the pharmaceutical companies heading their research and development initiatives towards these drugs.
Specialty drugs are basically meant for chronic and rare disease. Drugs in this category are very expensive and difficult to administer. Also, these drugs require proper management and special handling making them costly. Since, a large part of population in the US is ageing into diseases like cancer, and other deadly diseases, the demand for specialty drugs has skyrocketed in recent times.
The US specialty pharmaceutical market has changed over the span of five years with a lot of these drugs being in their final phase of development. The US specialty pharmaceutical market is likely to grow at staggering growth rate in the coming years majorly due to factors like ageing population of the US, improving life expectancy, rise in real net per capita medicine spending on specialty drugs, and high prevalence of chronic disease in the region.
The market is also undergoing some notable changes that have been covered in the report. The market growth is likely to be hindered by abandonment rate of specialty medicines and high R&D costs. The report offers an in-depth analysis of the “The US Specialty Pharmaceutical Market: Industry Analysis & Outlook (2017-2021)”. Major pharmaceutical companies that have been covered in the report include Celgene Corporation, Gilead Sciences Inc., Amgen Inc., and AbbVie Inc
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Source: Wiseguyreports
