Global Specialty Generics Market: Trends, Growth Drivers, and Forecast Analysis 2023-2030
The global specialty generics market size is expected to reach USD 148.72 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.9% over the forecast period. The growth in the market is largely driven by increasing product approvals and the rising prevalence of complex chronic diseases, such as multiple sclerosis. In April 2022, Dr. Reddy’s Laboratories launched a methylprednisolone sodium succinate injection in the U.S. for the treatment of patients with arthritis, blood disorders, and certain rare cancers. Furthermore, in June 2022, Elixir launched copay solutions enhancement program for the management of specialty generic medication prices. Under this program, an eligible patient receives a generic version of specialty medication at zero cost. Thus, the launch of new low-cost generic injectables and the availability of such programs is projected to fuel market growth. Increased claim settlements and av...