Europe Specialty Generics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The Europe specialty generics market size reached US$ 18.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.76% during 2023-2028.
Specialty generics are classified as high-cost, high complexity and/or high touch generics. They are the generic versions of speciality branded drugs after they lose their patent protection. Specialty generics are used to treat complex diseases which may be chronic by nature and life-threatening like hepatitis C, cancer, rheumatoid arthritis, multiple sclerosis, etc.
Driven by factors such as an increasing aging population, changing lifestyles and a rising prevalence of chronic diseases, healthcare costs in Europe have increased significantly in recent years creating a huge burden on the government, healthcare providers and patients. Specialty generics are playing a major role in the region to reduce this cost burden as they are more cost-effective as compared to their branded versions. Unlike branded speciality drugs, specialty generics don’t require expensive and time-consuming research and development procedures. Additionally, they also don’t incur the same amount of marketing and promotional expenses, resulting in substantially lower costs. In addition to this, the patent expiration of several blockbuster specialty drugs is expected to expire in the coming years creating a positive impact on the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe specialty generics market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on route of administration, indication and distribution channel.
Breakup by Region:
Rest of Europe
Breakup by Route of Administration:
Breakup by Indication:
Breakup by Distribution Channel:
The leading players in the European specialty generics industry have also been examined in the report.
Key Questions Answered in This Report
1. What was the size of the Europe specialty generics market in 2022?
2. What is the expected growth rate of the Europe specialty generics market during 2023-2028?
3. What are the key factors driving the Europe specialty generics market?
4. What has been the impact of COVID-19 on the Europe specialty generics market?
5. What is the breakup of the Europe specialty generics market based on the route of administration?
6. What is the breakup of the Europe specialty generics market based on the indication?
7. What is the breakup of the Europe specialty generics market based on the distribution channel?
8. What are the key regions in the Europe specialty generics market?
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