Europe specialty generics market reached a value of US$ 16.4 Billion in 2020. 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. Looking forward, IMARC Group expects the Europe specialty generics market to exhibit strong growth during the next five years.
Historical, Current and Future Market Trends
Market Breakup by Region:
Rest of Europe
Market Breakup by Route of Administration:
Market Breakup by Indication:
Market 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:
How has the European specialty generics market performed so far and how will it perform in the coming years?
What is the breakup of the European specialty generics market based on the region?
What has been the impact of COVID-19 on the European specialty generics market?
What is the breakup of the European specialty generics market based on the route of administration?
What is the breakup of the European specialty generics market based on the indication?
What is the breakup of European specialty generics market based on the distribution channel?
What are the various stages in the value chain of the specialty generics industry?
What are the key driving factors and challenges in the European specialty generics market?
What is the structure of the European specialty generics industry and who are the key players?
What is the degree of competition in the European specialty generics market